Photo of Yasser Boualam

Yasser Boualam

Research Interests: macro-finance, financial institutions, financial fragility and crises, economic theory

Links: CV, Job Market Paper

I am on the job market and will be available for interviews at the 2015 ASSA meetings in Boston.


Contact Information
Phone: 412-304-1847
Address: 3620 Locust Walk, 2254 Steinberg-Dietrich Hall, Philadelphia, PA 19104
 
Research Interests

Macro-Finance, Financial Institutions, Financial Fragility and Crises, Economic Theory

 

 Bank Lending and Relationship Capital - Job Market Paper 
I develop a general equilibrium theory of bank lending relationships in an economy subject to search frictions and limited enforceability. The model features a dynamic contracting problem embedded within a directed search equilibrium with aggregate and bank-specific uncertainty. The interaction between search and agency frictions generates a slow accumulation of lending relationship capital and distorts the optimal allocation of credit along both intensive and extensive margins. A crisis characterized by a sizable destruction of lending relationships therefore leads to a significant contraction in credit and a sluggish recovery, consistent with the Great Recession.
I calibrate the model to study aggregate and cross-sectional implications and analyze policies aimed at reviving bank lending.
 
 
References
Joel S. Ehrenkranz Family Professor of Finance
The Wharton School
University of Pennsylvania
215-898-7181
Howard Butcher III Professor of Finance
The Wharton School
University of Pennsylvania
215-898-3666
Safra Professor of International Finance and Capital Markets 
The Wharton School
University of Pennsylvania
215-898-4184
Associate Professor
Department of Economics
University of Pennsylvania
215-898-5170