Howard Kung

London Business School

Assistant Professor of Finance

Sussex Place

Regent's Park

London NW1 4SA

United Kingdom

Centre for Economic Policy Research (CEPR)

London

United Kingdom

SCHOLARLY PAPERS

22

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7,746

SSRN CITATIONS
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Top 5,000

in Total Papers Citations

209

CROSSREF CITATIONS

60

Scholarly Papers (22)

1.

Fiscal Policies and Asset Prices

Review of Financial Studies, 2012
Number of pages: 47 Posted: 15 Jun 2011 Last Revised: 10 Mar 2017
Finance Department, Bocconi University, London Business School, Ohio State University (OSU) - Department of Finance and University of Southern California - Marshall School of Business
Downloads 1,261 (20,977)
Citation 18

Abstract:

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cost of equity, corporate tax uncertainty, tax smoothing

2.

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 1,223 (22,000)
Citation 40

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

The CAPM Strikes Back? An Equilibrium Model with Disasters

Fisher College of Business Working Paper No. 2015-03-03, Charles A. Dice Center Working Paper No. 2015-03
Number of pages: 58 Posted: 23 Feb 2015 Last Revised: 19 Feb 2018
University of Connecticut - Department of Finance, Ohio State University (OSU) - Department of Finance, London Business School, Cheung Kong Graduate School of Business and Ohio State University - Fisher College of Business
Downloads 687 (48,655)
Citation 2

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The CAPM, Rare Disasters, Measurement Errors, The Consumption CAPM, General Equilibrium

The CAPM Strikes Back? An Equilibrium Model with Disasters

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 64 Posted: 07 Mar 2018
University of Connecticut - Department of Finance, Ohio State University (OSU) - Department of Finance, London Business School, Cheung Kong Graduate School of Business and Ohio State University - Fisher College of Business
Downloads 244 (162,378)
Citation 5

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The CAPM, Rare Disasters, Measurement Errors, The Consumption CAPM, General Equilibrium, Approximate Aggregation

The CAPM Strikes Back? An Investment Model with Disasters

NBER Working Paper No. w21016
Number of pages: 41 Posted: 16 Mar 2015 Last Revised: 05 Dec 2021
Hang Bai, Kewei Hou, Howard Kung and Lu Zhang
University of Connecticut - Department of Finance, Ohio State University (OSU) - Department of Finance, London Business School and Ohio State University - Fisher College of Business
Downloads 130 (282,545)

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4.

The Asset Redeployability Channel: How Uncertainty Affects Corporate Investment

Number of pages: 63 Posted: 15 Mar 2012 Last Revised: 20 Mar 2017
Hyunseob Kim and Howard Kung
Federal Reserve Bank of Chicago and London Business School
Downloads 740 (44,668)
Citation 23

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Asset redeployability; Uncertainty; Irreversible investment; Capital reallocation; Real options

5.

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 656 (52,389)
Citation 24

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

6.

Micro Uncertainty and Asset Prices

Number of pages: 44 Posted: 13 Aug 2018 Last Revised: 17 Jun 2020
Bernard Herskovic, Thilo Kind and Howard Kung
University of California, Los Angeles (UCLA) - Anderson School of Management, London Business School and London Business School
Downloads 475 (78,522)
Citation 1

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Production-based asset pricing, Neoclassical Investment, Long-run risks, Cross-section of returns, Micro uncertainty, TFP

Computational Methods for Production-Based Asset Pricing Models with Recursive Utility

Economic Research Initiatives at Duke (ERID) Working Paper No. 87
Number of pages: 45 Posted: 15 Dec 2010 Last Revised: 10 May 2017
Eric M. Aldrich and Howard Kung
University of California, Santa Cruz and London Business School
Downloads 397 (96,019)
Citation 2

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DSGE Models, Nonlinear Solution Methods, Numerical Dynamic Program- ming, Recursive Utility, Asset Pricing

Computational Methods for Production-Based Asset Pricing Models with Recursive Utility

Number of pages: 45 Posted: 26 Sep 2009 Last Revised: 10 May 2017
Eric M. Aldrich and Howard Kung
University of California, Santa Cruz and London Business School
Downloads 59 (463,510)
Citation 1

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DSGE Models, Nonlinear Solution Methods, Numerical Dynamic Programming, Recursive Utility, Asset Pricing.

8.

Macroeconomic Linkages between Monetary Policy and the Term Structure of Interest Rates

Number of pages: 39 Posted: 16 Feb 2014 Last Revised: 21 Feb 2014
Howard Kung
London Business School
Downloads 226 (175,390)
Citation 24

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Term structure of interest rates, asset pricing, recursive preferences, monetary policy, endogenous growth, inflation, productivity

Using Social Media to Identify the Effects of Congressional Viewpoints on Asset Prices

Number of pages: 53 Posted: 12 Apr 2021 Last Revised: 29 Oct 2021
Duke University, London Business School and London Business School
Downloads 213 (185,939)

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asset prices, high-frequency identification, social media, partisanship

Using Social Media to Identify the Effects of Congressional Viewpoints on Asset Prices

NBER Working Paper No. w28749
Number of pages: 54 Posted: 03 May 2021 Last Revised: 06 Dec 2021
Duke University, London Business School and London Business School
Downloads 5 (806,134)
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Using Social Media to Identify the Effects of Congressional Viewpoints on Asset Prices

Number of pages: 46 Posted: 14 May 2021 Last Revised: 10 Nov 2021
Duke University, London Business School and London Business School
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Citation 1
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Asset Pricing, High-Frequency Identification, partisanship, social media

10.

Q: Risk, Rents, or Growth?

USC Marshall School of Business Research Paper Sponsored by iORB, No. Forthcoming
Number of pages: 67 Posted: 26 Mar 2020 Last Revised: 22 Sep 2021
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 209 (188,722)
Citation 4

Abstract:

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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

11.

Limited Marital Commitment and Household Portfolios

Number of pages: 31 Posted: 18 Nov 2016
Jawad M. Addoum, Howard Kung and Gonzalo Morales
Cornell SC Johnson College of Business, London Business School and University of Alberta
Downloads 206 (191,288)
Citation 8

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Optimal Portfolio Choice, Limited Commitment, Bargaining Power, Risk Aversion

12.

Threats to Central Bank Independence: High-Frequency Evidence with Twitter

Number of pages: 35 Posted: 24 Sep 2019
Francesco Bianchi, Thilo Kind and Howard Kung
Duke University, London Business School and London Business School
Downloads 152 (248,995)
Citation 1

Abstract:

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Central bank independence, monetary policy, fed funds target, high-frequency identification, twitter

Discount Rates, Debt Maturity, and the Fiscal Theory

Rotman School of Management Working Paper No. 2981085
Number of pages: 61 Posted: 07 Jun 2017 Last Revised: 27 Jul 2021
University of Toronto - Rotman School of Management, London Business School, London Business School and University of Alberta
Downloads 75 (407,618)

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Fiscal Theory of the Price Level, Government Debt, Maturity Structure, Inflation, Bond Risk Premia, Markov-Switching DSGE, Nonlinear Solution Methods, Time-Varying Risk Premia

Discount Rates, Debt Maturity, and the Fiscal Theory

SAFE Working Paper No. 323
Number of pages: 63 Posted: 12 Oct 2021
University of Toronto - Rotman School of Management, London Business School, London Business School and University of Alberta
Downloads 54 (491,827)

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erm structure of interest rates, Fiscal theory of the price level, Bond risk premia, Government debt, DSGE models, Nonlinear solution methods

Discount Rates, Debt Maturity, and the Fiscal Theory

Rotman School of Management Working Paper No. 3891603
Number of pages: 61 Posted: 09 Aug 2021
University of Toronto - Rotman School of Management, London Business School, London Business School and University of Alberta
Downloads 23 (656,162)

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Term structure of interest rates, Fiscal theory of the price level, Bond risk premia, Government debt, DSGE models, Nonlinear solution methods

14.

Equilibrium Growth, Inflation, and Bond Yields

Number of pages: 50 Posted: 01 Mar 2012 Last Revised: 04 Jun 2012
Howard Kung
London Business School
Downloads 129 (283,055)
Citation 2

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Term structure of interest rates, asset pricing, recursive preferences, monetary policy, endogenous growth, inflation, productivity.

15.

Firm Product Concentration and Asset Prices

Number of pages: 62 Posted: 02 Dec 2019 Last Revised: 23 Aug 2021
London Business SchoolDuke University - Finance, University of Toronto - Rotman School of Management and London Business School
Downloads 114 (309,706)

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Firm Boundary, Multi Product Firm, Asset Pricing, Imperfect Competition, Financial Frictions, Idiosyncratic Volatility, Productivity, Secular Trends

16.

The Present Value of Future Market Power

Number of pages: 32 Posted: 22 Oct 2021
London School of Economics & Political Science (LSE) - Department of Finance, London Business School, University of Washington and London Business School
Downloads 112 (315,488)

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markups, valuation, superstar, present value

17.

Government Maturity Structure Twists

Number of pages: 40 Posted: 25 Apr 2016
University of Toronto - Rotman School of Management, London Business School and University of Alberta
Downloads 93 (354,620)
Citation 5

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18.

Disagreement about Innovations and Endogenous Growth

Number of pages: 31 Posted: 05 Dec 2019
Indiana University - Kelley School of Business - Department of Finance, Texas A&M University - Mays Business School - Finance Department and London Business School
Downloads 88 (367,036)

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Disagreement, Optimism, Entrepreneurship, Externality, Endogenous Growth, Innovations, Laffer Curve

19.
Downloads 81 (385,812)
Citation 23

Growth, Slowdowns, and Recoveries

Economic Research Initiatives at Duke (ERID) Working Paper No. 184
Number of pages: 39 Posted: 16 Mar 2015 Last Revised: 11 Apr 2015
Francesco Bianchi and Howard Kung
Duke University and London Business School
Downloads 65 (441,112)
Citation 4

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DSGE model, Endogenous growth, Technology Diffusion, Business cycles, Bayesian Methods

Growth, Slowdowns, and Recoveries

NBER Working Paper No. w20725
Number of pages: 38 Posted: 08 Dec 2014 Last Revised: 19 Aug 2021
Duke University, London Business School and University of Alberta
Downloads 16 (711,459)
Citation 3

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Growth, Slowdowns, and Recoveries

Number of pages: 44 Posted: 08 Dec 2014 Last Revised: 11 Dec 2017
Duke University, London Business School and University of Alberta
Downloads 0
Citation 11
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Bayesian methods, business cycles, DSGE model, endogenous growth, technology diffusion

20.

A Macroeconomic Foundation for the Equilibrium Term Structure of Interest Rates

Number of pages: 37 Posted: 25 Apr 2013
Howard Kung
London Business School
Downloads 54 (475,586)

Abstract:

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term structure of interest rates, asset pricing, recursive preferences, monetary policy, endogenous growth, inflation, productivity

Threats to Central Bank Independence: High-Frequency Identification with Twitter

NBER Working Paper No. w26308
Number of pages: 62 Posted: 23 Sep 2019 Last Revised: 20 Nov 2021
Francesco Bianchi, Howard Kung and Thilo Kind
Duke University, London Business School and London Business School
Downloads 28 (619,861)

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Threats to Central Bank Independence: High-Frequency Identification with Twitter

Number of pages: 64 Posted: 07 Oct 2019 Last Revised: 22 Sep 2021
Francesco Bianchi, Thilo Kind and Howard Kung
Duke University, London Business School and London Business School
Downloads 1 (848,583)
Citation 9
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central bank independence, fed funds target, High-Frequency Identification, monetary policy, Twitter

22.
Downloads 11 (725,881)
Citation 2

The Origins and Effects of Macroeconomic Uncertainty

NBER Working Paper No. w25386
Number of pages: 56 Posted: 26 Dec 2018 Last Revised: 13 Nov 2021
Duke University, London Business School and London Business School
Downloads 11 (754,009)

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The Origins and Effects of Macroeconomic Uncertainty

Number of pages: 58 Posted: 23 Jan 2019
Duke University, London Business School and London Business School
Downloads 0
Citation 3
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Business Cycles, Term Structure of Interest Rates, time-varying risk premia, Uncertainty shocks