Opportunities and Risks in Decentralized Lending

Funded Research Proposal

Currently, the amount of outstanding loans on the top 3 decentralized lending platforms are over $15 billion – this reflects phenomenal growth, as the space was nonexistent five years ago. What is decentralized lending? And what are the opportunities and risks associated with it?Read More

Are ETFs better than Mutual Funds?

Working Papers

I study investors’ trade-off between ETFs and open-ended mutual funds in the presence of idiosyncratic liquidity risk and aggregate uncertainty. Based on a portfolio choice model, I show that ETFs and mutual funds provide liquidity at different maturities.Read More