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The Financial Markets Group

Department of Finance
London School of Economics & Political Science
Houghton Street
London WC2A 2AE
United Kingdom

Tel: +44 (0) 207 955 6206
Email:  fmg@lse.ac.uk

FMG working papers

The FMG's discussion paper series dates back to the founding of the FMG in 1987 with the first papers having been written by FMG co-founders Mervyn King and Charles Goodhart. Currently, only papers from 1995 onwards have been made available online.

Discussion papers are authored primarily by FMG staff, associates and research students and provide insights into cutting edge financial markets research currently being carried out at the FMG. Research published in the discussion paper series typically goes on to final publication in the top economics and finance journals. 

The most recent FMG discussion papers are listed below.

The Anatomy of the CDS Market
Martin Oehmke and Adam Zawadowski (November 2016)
FMG Discussion Paper DP761

What is the Expected Return on a Stock?
Ian Martin and Christian Wagner (November 2016)
FMG Discussion Paper DP760

Cultural Proximity and Loan Outcomes
Raymond Fisman, Daniel Paravisini and Vikrant Vig (May 2016)
FMG Discussion Paper DP759

The Divergent Postcommunist Paths to Democracy and Economic Freedom
Simeon Djankov (July 2016)
FMG Discussion Paper DP758

Women in Finance
Renée B. Adams and Tom Kirchmaier (June 2016)
FMG Discussion Paper DP757

Downside Risk Neutral Probabilities
Pierre Chaigneau and Louis Eeckhoudt (April 2016)
FMG Discussion Paper DP756

Macro-Modelling, Default and Money
Charles Goodhart, Nikolas Romanidis, Dimitrios P Tsomocos and Martin Shubik (June 2016)
FMG Discussion Paper DP755

Informational Black Holes in Financial Markets
Ulf Axelson and Igor Makarov (April 2016)
FMG Discussion Paper DP754

European Venture Capital: myths and facts
Ulf Axelson and Milan Martinovic (April 2016)
FMG Discussion Paper DP753

The Dynamics of expected returns: evidence from multi-scale time series modelling
Daniele Bianchi and Andrea Tamoni (March 2016)
FMG Discussion Paper DP752

Say on Pay: do shareholders care?
Carsten Gerner-Beuerle and Tom Kirchmaier (March 2016)
FMG Discussion Paper DP751

What is the expected return on the market?
Ian Martin (March 2016)
FMG Discussion Paper DP750

An Information Based One-Factor Asset Pricing Model
Anisha Ghosh, Christian Julliard and Alex P Taylor (April 2016)
FMG Discussion Paper DP749

Curse of the Benchmarks
Dimitri Vayanos and Paul Woolley (March 2016)
FMG Discussion Paper DP747