Amir Sufi

Professor of Finance
Chicago Booth
5807 South Woodlawn Avenue
Chicago, IL 60615
amir.sufi@chicagobooth.edu
773 702 6148

What's new

What Explains High Unemployment? The Aggregate Demand Channel (with Atif Mian)

Household Balance Sheets, Consumption, and the Economic Slump (with Atif Mian and Kamelesh Rao)

Non-technical summary slides of the two papers is here

Refereed Publications

Creditor Control Rights, Corporate Governance, and Firm Value, (with Greg Nini and David Smith), forthcoming, Review of Financial Studies

Explaining Corporate Capital Structure: Product Markets, Leases, and Asset Similarity, (with Joshua Rauh), forthcoming, Review of Finance

House Prices, Home Equity-Based Borrowing, and the U.S. Household Leverage Crisis (with Atif Mian), American Economic Review, August 2011, 101: 2132-2156

Capital Structure and Debt Structure (with Joshua Rauh), Review of Financial Studies, December 2010, 23 (12), 4242-4280

The Political Economy of the U.S. Mortgage Default Crisis (with Atif Mian and Francesco Trebbi), American Economic Review, December 2010, 100: 67-98

Household Leverage and the Recession of 2007 to 2009 (with Atif Mian), IMF Economic Review, August 2010, 58(1), 74-117

The Consequences of Mortgage Credit Expansion: Evidence from the U.S. Mortgage Default Crisis (with Atif Mian), Quarterly Journal of Economics, November 2009, 124(4), 1449-1496

Renegotiation of Financial Contracts: Evidence from Private Credit Agreements (with Michael Roberts), Journal of Financial Economics, August 2009, 93(2), 159-184 [WP version]

Control Rights and Capital Structure: An Empirical Investigation, (with Michael Roberts), Journal of Finance, August 2009, 64(4), 1657-1695

Creditor Control Rights and Firm Investment Policy (with Greg Nini and David Smith), Journal of Financial Economics, June 2009, 92(3), 400-420 [WP version]

The Real Effects of Debt Certification: Evidence from the Introduction of Bank Loan Ratings, Review of Financial Studies, April 2009, 22(4), 1659-1691 [WP version]

Bank Lines of Credit in Corporate Finance: An Empirical Analysis, Review of Financial Studies, March 2009, 22(3), 1057-1088 [WP version]

Information Asymmetry and Financing Arrangements: Evidence from Syndicated Loans, Journal of Finance April 2007, 62(2), 629-668

Surveys, Conference Proceedings, Shorter Pieces, and Discussions

Household Debt and the Weak U.S. Economic Recovery (with Atif Mian), Federal Reserve Bank of San Francisco Economic Letter, January 2010 (Data Appendix)

The Great Recession: Lessons from Microeconomic Data (with Atif Mian), American Economic Review Papers and Proceedings, May 2010 [If you want a short overview of our research on the macroeconomic implications of the mortgage/housing crisis, this is it.]

Financial Contracting: A Survey of Empirical Research and Future Directions (with Michael Roberts), inaugural edition of  Annual Review of Financial Economics, 2009, published by  Annual Reviews, Palo Alto, CA, pp. 207-226

The Political Economy of the U.S. Mortgage Default Crisis: A Synopsis, FRB of Chicago Bank Structure Conference Proceedings, May 2009, 125-130

Summary of “The Consequences of Mortgage Credit Expansion,” (with Atif Mian), FRB of Chicago Bank Structure Conference Proceedings, May 2008, 129-132

The Effect of Creditor Control Rights on Firm Investment Policy: Evidence from Private Credit Agreements (with Greg Nini and David Smith) FRB of Chicago Bank Structure Conference Proceedings, May 2007, 117-122

Dynamic Inefficiencies in Insurance Markets: Evidence from Long-Term Care Insurance (with Amy Finkelstein and Kathleen McGarry), American Economic Review Papers and Proceedings, May 2005, 95: 224-228

Expansion of Bank Powers: Who Gains the Most? (with Philip Strahan), FRB of Chicago Bank Structure Conference Proceedings, May 2001, 682-698

The Changing Landscape of the Financial Services Industry: What Lies Ahead? (with Cara Lown, C.S. Osler, and Philip Strahan), Federal Reserve Bank of New York Economic Policy Review, October 2000, 39-55

Discussion of Duchin, Ozbas, and Sensoy's "Costly External Finance, Corporate Investment, and the Subprime Mortgage Credit Crisis," AFA 2010 [I argue that corporate investment is not the key to understanding Recession of 2007 to 2009].

Discussion of Barlevy and Fisher's "Mortgage Choices and Housing Speculation," NBER EFG, Spring 2010 [I argue that subprime is in fact strongly correlated with MSA house price growth].