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.
Joel S. Ehrenkranz Family Professor of Finance
The Wharton School
University of Pennsylvania
Howard Butcher III Professor of Finance
The Wharton School
University of Pennsylvania
Safra Professor of International Finance and Capital Markets 
The Wharton School
University of Pennsylvania
Associate Professor
Department of Economics
University of Pennsylvania