Romain Rancière

Department of Economics
University of Southern California
Los Angeles, CA 90097

E-Mail: EmailAddress: hidden: you can email any NBER-related person as first underscore last at nber dot org
NBER Program Affiliations: IFM
NBER Affiliation: Research Associate
Institutional Affiliation: University of Southern California

NBER Working Papers and Publications

July 2019The Transmission of Shocks in Endogenous Financial Networks: A Structural Approach
with Jonas Heipertz, Amine Ouazad: w26049
March 2019Market Frictions, Arbitrage, and the Capitalization of Amenities
with Amine Ouazad: w25701
December 2018Media Sentiment and International Asset Prices
with Samuel P. Fraiberger, Do Lee, Damien Puy: w25353
April 2018Financial Development, Growth, and Crisis: Is There a Trade-Off?
with Norman Loayza, Amine Ouazad: w24474

Published: "Finance in the Real Economy: Evidence from the U.S." in Handbook of Finance and Development p289-311

November 2017City Equilibrium with Borrowing Constraints: Structural Estimation and General Equilibrium Effects
with Amine Ouazad: w23994


September 2017Sovereign Bond Prices, Haircuts and Maturity
with Tamon Asonuma, Dirk Niepelt: w23864

Published: Tamon Asonuma & Dirk Niepelt & Romain Ranciere, 2017. "Sovereign Bond Prices, Haircuts and Maturity," IMF Working Papers, vol 17(119).

July 2017Balance-Sheet Diversification in General Equilibrium: Identification and Network Effects
with Jonas Heipertz, Amine Ouazad, Natacha Valla: w23572
June 2009Crash Risk in Currency Markets
with Emmanuel Farhi, Samuel Paul Fraiberger, Xavier Gabaix, Adrien Verdelhan: w15062
December 2006Decomposing the Effects of Financial Liberalization: Crises vs. Growth
with Aaron Tornell, Frank Westermann: w12806

Published: Ranciere, Romain & Tornell, Aaron & Westermann, Frank, 2006. "Decomposing the effects of financial liberalization: Crises vs. growth," Journal of Banking & Finance, Elsevier, vol. 30(12), pages 3331-3348, December. citation courtesy of

May 2006Exchange Rate Volatility and Productivity Growth: The Role of Financial Development
with Philippe Aghion, Philippe Bacchetta, Kenneth Rogoff: w12117

Published: Aghion, Philippe & Bacchetta, Philippe & Rancière, Romain & Rogoff, Kenneth, 2009. "Exchange rate volatility and productivity growth: The role of financial development," Journal of Monetary Economics, Elsevier, vol. 56(4), pages 494-513, May. citation courtesy of

January 2005Systemic Crises and Growth
with Aaron Tornell, Frank Westermann: w11076

Published: Romain Rancière & Aaron Tornell & Frank Westermann, 2008. "Systemic Crises and Growth," The Quarterly Journal of Economics, MIT Press, vol. 123(1), pages 359-406, 02. citation courtesy of

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