Manuel Adelino

Manuel Adelino
Assistant Professor of Finance, Fuqua School of Business, Duke University
(919) 660-7981





8. Firm Age, Investment Opportunities, and Job Creation
    With Song Ma and David Robinson
    Featured in the VOX blog
    Best Paper Award at the 2014 Red Rock Conference
    Journal of Finance, Conditionally Accepted, April 2016.

7. Loan Originations and Defaults in the Mortgage Crisis: The Role of the Middle Class
    With Antoinette Schoar and Felipe Severino
    Review of Financial Studies, Forthcoming, January 2016.

6. Bank Ratings and Lending Supply: Evidence from Sovereign Downgrades
    [published version]
    With Miguel Ferreira
    Review of Financial Studies, Forthcoming, December 2015.

5. Investment Decisions of Nonprofits: Evidence from Hospitals
    [published version]
    With Katharina Lewellen and Anant Sundaram
    Journal of Finance, Volume 70, Issue 4, pages 1583–1628, (August 2015).

4. House Prices, Collateral and Self-Employment
    [published version]
    With Antoinette Schoar and Felipe Severino
    Featured in the NBER Digest
    Journal of Financial Economics, Volume 117, Issue 2, Pages 288–306 (August 2015).

3. Corporate Distress and Lobbying. Evidence from the Stimulus Act
    [published version], [appendix]
    With Serdar Dinc
    Featured in the Harvard Law School Forum on Corporate Governance and Financial Regulation
    Journal of Financial Economics, Volume 114, Issue 2, Pages 256–272 (November 2014).

2. Identifying the Effect of Securitization on Foreclosure and Modification Rates Using Early-Payment Defaults
    [published version]
    With Kris Gerardi and Paul Willen
    Journal of Real Estate Finance and Economics, Volume 49, Issue 3, Pages 352-378 (October 2014).

1. Why Don't Lenders Renegotiate More Home Mortgages? Redefaults, Self-Cures and Securitization
    [published version], [appendix]
    With Kris Gerardi and Paul Willen
    Featured in The Economist, New York Times, Washington Post, Boston Globe, New Yorker, Bloomberg, BusinessWeek
    Journal of Monetary Economics, Volume 60, Issue 7, Pages 835-853 (October 2013).


Working Papers

4. The Economic Effects of Public Financing: Evidence from Municipal Bond Ratings Recalibration
    With Igor Cunha and Miguel Ferreira, December 2015

3. The Effect of Large Investors on Asset Quality: Evidence from Subprime Mortgage Securities
    With Scott Frame and Kris Gerardi, September 2015

2. Loan Originations and Defaults in the Mortgage Crisis: Further Evidence
    With Antoinette Schoar and Felipe Severino, June 2015

1. Credit Supply and House Prices: Evidence from Mortgage Market Segmentation
    With Antoinette Schoar and Felipe Severino, February 2014


Work in Progress

3. Financial Condition and Product Quality: The Case of Nonprofit Hospitals
    With Katharina Lewellen and Ben McCartney

2. A Test of Dynamic Signaling Models: Evidence from Mortgage Securitization
    With Kris Gerardi and Barney Hartman-Glaser

1. Do Investors Rely Only on Ratings? The Case of Mortgage-Backed Securities