Lukas Schmid

University of Southern California - Marshall School of Business

701 Exposition Blvd, HOH 431

Los Angeles, CA California 90089-1424

United States

  • University of Southern California - Marshall School of Business

SCHOLARLY PAPERS

27

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11,493

SSRN CITATIONS
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Top 3,887

in Total Papers Citations

212

CROSSREF CITATIONS

130

Scholarly Papers (27)

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1.

Investment-Based Corporate Bond Pricing

Journal of Finance, Forthcoming
Number of pages: 57 Posted: 20 Sep 2011 Last Revised: 10 Jun 2014
Lars-Alexander Kuehn and Lukas Schmid
Carnegie Mellon University - David A. Tepper School of Business and University of Southern California - Marshall School of Business
Downloads 1,325 (17,465)
Citation 25

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Real investment, dynamic capital structure, default risk, credit spreads, recursive preferences, macroeconomic risk

2.

Fiscal Policies and Asset Prices

Review of Financial Studies, 2012
Number of pages: 47 Posted: 15 Jun 2011 Last Revised: 10 Mar 2017
Mariano (Max) Massimiliano Croce, Howard Kung, Thien Tung Nguyen and Lukas Schmid
Finance Department, Bocconi University, London Business School, Ohio State University (OSU) - Department of Finance and University of Southern California - Marshall School of Business
Downloads 1,241 (19,293)
Citation 18

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cost of equity, corporate tax uncertainty, tax smoothing

3.

Innovation, Growth, and Asset Prices

AFA 2012 Chicago Meetings Paper
Number of pages: 50 Posted: 21 Mar 2011 Last Revised: 12 Jun 2014
Howard Kung and Lukas Schmid
London Business School and University of Southern California - Marshall School of Business
Downloads 1,209 (20,076)
Citation 33

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Endogenous growth, asset pricing, innovation, R&D, productivity, recursive preferences

4.

Equilibrium Credit Spreads and the Macroeconomy

Downloads 1,047 ( 24,855)
Citation 21

Equilibrium Credit Spreads and the Macroeconomy

AFA 2010 Atlanta Meetings Paper
Number of pages: 46 Posted: 18 Mar 2009 Last Revised: 15 Jun 2011
Joao F. Gomes and Lukas Schmid
The Wharton School and University of Southern California - Marshall School of Business
Downloads 548 (59,177)
Citation 27

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Credit Spreads, Capital Structure, Equity Premium, Predictability, General Equilibrium

Equilibrium Credit Spreads and the Macroeconomy

The Wharton School Research Paper No. 42
Number of pages: 46 Posted: 06 Jun 2012
Joao F. Gomes and Lukas Schmid
The Wharton School and University of Southern California - Marshall School of Business
Downloads 282 (128,389)

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Equilibrium Credit Spreads and the Macroeconomy

Number of pages: 33 Posted: 18 Feb 2009
Joao F. Gomes and Lukas Schmid
The Wharton School and University of Southern California - Marshall School of Business
Downloads 217 (166,894)
Citation 3

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Credit Spreads, Capital Structure, Equity Premium, Preictability, General Equilibrium

5.

Testing Dynamic Agency Theory via Structural Estimation

Simon School Working Paper No. FR 12-06, AFA 2013 San Diego Meetings Paper
Number of pages: 42 Posted: 15 Mar 2012
Boris Nikolov and Lukas Schmid
University of Lausanne and University of Southern California - Marshall School of Business
Downloads 963 (28,022)
Citation 8

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Dynamic agency, q-theory, dynamic contracting, managerial compensation, structural estimation, capital structure

6.

Interest Rate Risk Management in Uncertain Times

Number of pages: 58 Posted: 18 Jan 2016 Last Revised: 05 Dec 2017
Lorenzo Bretscher, Lukas Schmid and Andrea Vedolin
London Business School - Department of Finance, University of Southern California - Marshall School of Business and Boston University - Department of Finance & Economics
Downloads 772 (38,117)
Citation 3

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interest rate uncertainty, volatility, risk management, interest rate swaps, financial frictions, corporate investment, leverage, credit risk

7.

The Market Price of Fiscal Uncertainty

Carnegie-Rochester Conference Series on Public Policy, JME 2012
Number of pages: 41 Posted: 01 Nov 2011 Last Revised: 10 Mar 2017
Mariano (Max) Massimiliano Croce, Thien Tung Nguyen and Lukas Schmid
Finance Department, Bocconi University, Ohio State University (OSU) - Department of Finance and University of Southern California - Marshall School of Business
Downloads 722 (41,791)
Citation 11

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Robustness, Endogenous Growth, Asset Prices

8.

Competition, Markups and Predictable Returns

Number of pages: 47 Posted: 18 Jan 2015 Last Revised: 27 Aug 2019
Alexandre Corhay, Howard Kung and Lukas Schmid
University of Toronto - Rotman School of Management, London Business School and University of Southern California - Marshall School of Business
Downloads 620 (51,124)
Citation 24

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Production-based asset pricing, imperfect competition, time-varying risk premia, stock return predictability, recursive preferences

9.

Government Debt and the Returns to Innovation

Downloads 618 ( 51,354)
Citation 11

Government Debt and the Returns to Innovation

Journal of Financial Economics (JFE), Forthcoming, Fisher College of Business Working Paper No. 2016-03-10, Charles A. Dice Center Working Paper No. 2016-10
Number of pages: 81 Posted: 24 May 2016 Last Revised: 25 Jul 2018
Mariano (Max) Massimiliano Croce, Thien Tung Nguyen, Steve Raymond and Lukas Schmid
Finance Department, Bocconi University, Ohio State University (OSU) - Department of Finance, University of North Carolina (UNC) at Chapel Hill - Kenan-Flagler Business School and University of Southern California - Marshall School of Business
Downloads 618 (50,677)
Citation 4

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Government Debt, Fiscal Uncertainty, Cross Section of Stock Returns, Predictability, R&D, Growth

Government Debt and the Returns to Innovation

CEPR Discussion Paper No. DP12617
Number of pages: 81 Posted: 22 Jan 2018
Mariano (Max) Massimiliano Croce, Thien Tung Nguyen, Steve Raymond and Lukas Schmid
Finance Department, Bocconi University, Ohio State University (OSU) - Department of Finance, University of North Carolina (UNC) at Chapel Hill - Kenan-Flagler Business School and University of Southern California - Marshall School of Business
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Citation 3
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Cross Section of Stock Returns, Fiscal Uncertainty, Government Debt, growth, predictability, R&D

10.

Dynamic Corporate Liquidity

Number of pages: 65 Posted: 13 Mar 2013 Last Revised: 20 May 2017
Boris Nikolov, Lukas Schmid and Roberto Steri
University of Lausanne, University of Southern California - Marshall School of Business and University of Luxembourg
Downloads 452 (75,971)
Citation 15

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Corporate liquidity, cash, credit lines, debt capacity, leverage, corporate investment, hedging

11.

A Quantitative Dynamic Agency Model of Financing Constraints

Number of pages: 46 Posted: 25 Jul 2009
Lukas Schmid
University of Southern California - Marshall School of Business
Downloads 451 (76,163)
Citation 17

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Dynamic Agency, Limited Enforcement, Financing Constraints, Capital Structure, Investment, Cross-Section of Stock Returns

12.

Levered Returns

Number of pages: 45 Posted: 02 Mar 2007
Joao F. Gomes and Lukas Schmid
The Wharton School and University of Southern California - Marshall School of Business
Downloads 408 (85,715)
Citation 51

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Cross-section of Returns, Growth Options, Financing, Leverage, Capital Structure

13.

The Sources of Financing Constraints

Swiss Finance Institute Research Paper No. 18-74, European Corporate Governance Institute – Finance Working Paper No. 641/2019
Number of pages: 75 Posted: 03 Dec 2018 Last Revised: 07 Dec 2019
Boris Nikolov, Lukas Schmid and Roberto Steri
University of Lausanne, University of Southern California - Marshall School of Business and University of Luxembourg
Downloads 310 (116,798)
Citation 5

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Financing constraints, financial frictions, moral hazard, limited enforcement, tradeoff, dynamic contracting, agency, structural estimation, empirical policy function estimation

14.

Institutional Corporate Bond Demand

Swiss Finance Institute Research Paper No. 21-07
Number of pages: 47 Posted: 15 Jan 2021 Last Revised: 26 Jan 2021
Lorenzo Bretscher, Lukas Schmid, Ishita Sen and Varun Sharma
London Business School - Department of Finance, University of Southern California - Marshall School of Business, Harvard University - Harvard Business School and London Business School
Downloads 307 (117,986)

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Corporate Bonds, Demand Systems, Insurance Companies, Mutual Funds, Liquidity

15.

Sticky Leverage

The Wharton School Research Paper No. 52
Number of pages: 44 Posted: 29 May 2013 Last Revised: 11 May 2016
Joao F. Gomes, Urban J. Jermann and Lukas Schmid
The Wharton School, University of Pennsylvania - Finance Department and University of Southern California - Marshall School of Business
Downloads 251 (145,411)
Citation 20

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Debt deflation, debt overhang, monetary non-neutrality

16.

Marking to Market Corporate Debt

Swiss Finance Institute Research Paper No. 21-06, USC Marshall School of Business Research Paper Sponsored by iORB, No. Forthcoming
Number of pages: 87 Posted: 25 Sep 2020 Last Revised: 17 Mar 2021
Lorenzo Bretscher, Peter Feldhütter, Andrew Kane and Lukas Schmid
London Business School - Department of Finance, Copenhagen Business School, Duke University, Fuqua School of Business, Students and University of Southern California - Marshall School of Business
Downloads 172 (206,403)
Citation 1

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Corporate Debt Valuations, Tobin's Q, Leverage Premium

17.

Risk-Adjusted Capital Allocation and Misallocation

Downloads 136 (250,618)
Citation 4

Risk-Adjusted Capital Allocation and Misallocation

Number of pages: 75 Posted: 18 Oct 2018
Joel David, Lukas Schmid and David Zeke
University of Southern California, University of Southern California - Marshall School of Business and University of Southern California - Department of Economics
Downloads 135 (252,943)
Citation 5

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Misallocation, Costs of Business Cycles, Cross-Section of Returns, Time-Varying Risk Premia

Risk-Adjusted Capital Allocation and Misallocation

CEPR Discussion Paper No. DP13205
Number of pages: 78 Posted: 02 Oct 2018
Lukas Schmid, Joel David and David Zeke
University of Southern California - Marshall School of Business, University of Southern California and University of Southern California - Department of Economics
Downloads 1 (792,043)
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costs of business cycles, cross-section of returns, Misallocation, time-varying risk premia

18.

Q: Risk, Rents, or Growth?

Number of pages: 67 Posted: 26 Mar 2020 Last Revised: 29 Apr 2020
Alexandre Corhay, Howard Kung and Lukas Schmid
University of Toronto - Rotman School of Management, London Business School and University of Southern California - Marshall School of Business
Downloads 130 (259,366)
Citation 6

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Tobin's Q, Aggregate demand, Simulated method of moments, Corporate investment, Intangible capital, Innovation, Industry concentration, Price-dividend ratios, Asset valuations, Equity premium

19.

A Tax Plan for Endogenous Innovation

Downloads 119 (277,123)

A Tax Plan for Endogenous Innovation

Number of pages: 44 Posted: 14 Apr 2017
Mariano (Max) Massimiliano Croce, Anastasios G. Karantounias, Steve Raymond and Lukas Schmid
Finance Department, Bocconi University, Federal Reserve Banks - Federal Reserve Bank of Atlanta, University of North Carolina (UNC) at Chapel Hill - Kenan-Flagler Business School and University of Southern California - Marshall School of Business
Downloads 95 (325,388)

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Innovation, endogenous growth, government debt, labor tax, subsidy, profit tax

A Tax Plan for Endogenous Innovation

FRB Atlanta Working Paper No. 2017-13
Number of pages: 45 Posted: 23 Aug 2018 Last Revised: 14 Apr 2020
Mariano (Max) Massimiliano Croce, Anastasios G. Karantounias, Stephen Raymond and Lukas Schmid
Finance Department, Bocconi University, Federal Reserve Banks - Federal Reserve Bank of Atlanta, University of North Carolina (UNC) at Chapel Hill and University of Southern California - Marshall School of Business
Downloads 24 (601,329)

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innovation, R&D investment, endogenous growth, government debt, labor tax, subsidy, profit tax

20.

Global Entropy

Number of pages: 53 Posted: 16 Feb 2014 Last Revised: 11 Sep 2015
Mariano (Max) Massimiliano Croce, Thien Tung Nguyen and Lukas Schmid
Finance Department, Bocconi University, Ohio State University (OSU) - Department of Finance and University of Southern California - Marshall School of Business
Downloads 110 (292,795)
Citation 1

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Global Growth, Entropy, Contagion

21.

The Risks of Safe Assets

Number of pages: 64 Posted: 13 Nov 2020
Yang Liu, Lukas Schmid and Amir Yaron
The University of Hong Kong - Faculty of Business and Economics, University of Southern California - Marshall School of Business and University of Pennsylvania -- Wharton School of Business
Downloads 91 (331,873)
Citation 7

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Government debt, safe assets, liquidity premium, uncertainty, growth, fiscal costs, risk premia, credit spreads, cost of capital, unconventional stabilization policies

22.

Risk-Adjusted Capital Allocation and Misallocation

FRB of Chicago Working Paper No. 2020-34
Number of pages: 85 Posted: 28 Dec 2020
Joel Michael David, Lukas Schmid and David Zeke
Federal Reserve Bank of Chicago, University of Southern California - Marshall School of Business and University of Southern California - Department of Economics
Downloads 31 (541,889)

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misallocation, productivity, costs of business cycles, risk premia

23.

Benchmark Interest Rates When the Government is Risky

Downloads 8 (695,512)
Citation 5

Benchmark Interest Rates When the Government is Risky

NBER Working Paper No. w26429
Number of pages: 72 Posted: 06 Nov 2019 Last Revised: 09 Apr 2021
Patrick Augustin, Mikhail Chernov, Lukas Schmid and Dongho Song
McGill University, UCLA Anderson, University of Southern California - Marshall School of Business and Johns Hopkins University - Carey Business School
Downloads 8 (724,077)
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Benchmark Interest Rates When the Government is Risky

CEPR Discussion Paper No. DP14105
Number of pages: 74 Posted: 15 Nov 2019 Last Revised: 02 Dec 2019
Patrick Augustin, Mikhail Chernov, Lukas Schmid and Dongho Song
McGill University, UCLA Anderson, University of Southern California - Marshall School of Business and Johns Hopkins University - Carey Business School
Downloads 0
Citation 5
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negative swap rates, recursive preferences, sovereign credit risk, term structure

24.

The Term Structure of Cip Violations

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The Term Structure of Cip Violations

CEPR Discussion Paper No. DP14774
Number of pages: 52 Posted: 28 May 2020 Last Revised: 11 Feb 2021
Patrick Augustin, Mikhail Chernov, Lukas Schmid and Dongho Song
McGill University, UCLA Anderson, University of Southern California - Marshall School of Business and Johns Hopkins University - Carey Business School
Downloads 0
Citation 1
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25.

Credit Market Equivalents and the Valuation of Private Firms

Posted: 16 Oct 2019
Niklas Hüther (Huether), Lukas Schmid and Roberto Steri
Indiana University - Kelley School of Business, University of Southern California - Marshall School of Business and University of Luxembourg

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private equity, stochastic discount factor, loan and corporate bond returns, secondary market trading, machine learning, portfolio company level PE data

26.

A Macrofinance View of U.S. Sovereign CDS Premiums

CEPR Discussion Paper No. DP11576
Number of pages: 39 Posted: 24 Oct 2016
Mikhail Chernov, Lukas Schmid and Andrés Schneider
UCLA Anderson, University of Southern California - Marshall School of Business and Board of Governors of the Federal Reserve System
Downloads 0 (774,866)
Citation 2
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credit default swaps, recursive preferences, sovereign default

27.

Fiscal Policy and the Distribution of Consumption Risk

Posted: 29 Jun 2011 Last Revised: 19 Nov 2018
Mariano (Max) Massimiliano Croce, Thien Tung Nguyen and Lukas Schmid
Finance Department, Bocconi University, Ohio State University (OSU) - Department of Finance and University of Southern California - Marshall School of Business

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Fiscal Policy, Endogenous Growth, Recursive Preferences, Welfare Costs