{"id":16,"date":"2017-07-16T21:18:30","date_gmt":"2017-07-16T21:18:30","guid":{"rendered":"http:\/\/mitmgmtfaculty.mit.edu\/aschoar\/research-publications\/"},"modified":"2026-04-23T18:53:56","modified_gmt":"2026-04-23T18:53:56","slug":"publications","status":"publish","type":"page","link":"https:\/\/mitmgmtfaculty.mit.edu\/aschoar\/publications\/","title":{"rendered":"Publications"},"content":{"rendered":"<div id=\"pl-16\"  class=\"panel-layout\" ><div id=\"pg-16-0\"  class=\"panel-grid panel-no-style\" ><div id=\"pgc-16-0-0\"  class=\"panel-grid-cell\" ><div id=\"panel-16-0-0-0\" class=\"so-panel widget widget_mit-pf-research widget_mit_pf_research panel-first-child\" data-index=\"0\" ><h2 class=\"widget-title\">Publications<\/h2><div class=\"textwidget\"><ul>\n<li><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3608150\" target=\"_blank\" rel=\"noopener\">\"The Missing LTV Cycle\"<\/a> with M. Adelino and W. McCartney, <strong>American Economic Review: Insights,<\/strong> Forthcoming, October 2025<\/li>\n<li>\u201c<a href=\"https:\/\/www.sciencedirect.com\/science\/article\/abs\/pii\/S0304405X2500087X\" target=\"_blank\" rel=\"noopener\">Revenue Collapses and the Consumption of Small Business Owners in the Early Stages of the COVID-19 Pandemic<\/a>\u201d with O. Kim and J. A. Parker, <strong>Journal of Financial Economics,<\/strong> Vol. 170, August 2025: 104079.<\/li>\n<li><a href=\"https:\/\/mitsloan.mit.edu\/shared\/ods\/documents?PublicationDocumentID=10551\" target=\"_blank\" rel=\"noopener\">\"Household Portfolios and Retirement Saving over the Life Cycle<\/a>,\u201d with J. Parker, A. Cole, and D. Simester, August 2024, <strong>Journal of Finance<\/strong>, Forthcoming<\/li>\n<li>\u201c<a href=\"https:\/\/www.sciencedirect.com\/science\/article\/abs\/pii\/S0304405X24001818\">Credit Supply and House Prices: Evidence from Mortgage Market Segmentation<\/a>,\u201d with M. Adelino and F. Severino, <strong>Journal of Financial Economics<\/strong> Vol. 163, January 2025: 103958<\/li>\n<li><a href=\"https:\/\/www.nber.org\/papers\/w32452\" target=\"_blank\" rel=\"noopener\">\"Demand-side and Supply-side Constraints in the Market for Financial Advice\"<\/a> with J. Reuter, <strong>Annual Review of Financial Economics<\/strong> Vol. 16, November 2024: 391-411.<\/li>\n<li><a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0304405X2400120X\" target=\"_blank\" rel=\"noopener\">\"Are Cryptos Different? Evidence from Retail Trading.\"<\/a> with S. Kogan, I. Makarov and M. Niessner, <strong>Journal of Financial Economics<\/strong><span style=\"color: #333333\"> Vol. 159, September 2024: 103897<\/span><\/li>\n<li><a href=\"https:\/\/academic.oup.com\/wber\/article\/38\/3\/580\/7612583?utm_source=etoc&amp;utm_campaign=wber&amp;utm_medium=email\" target=\"_blank\" rel=\"noopener\">\"Heuristics on Call: The Impact of Mobile-Phone-Based Business-Management Advice\"<\/a> with S. Cole and Mukta Joshi, <strong>The World Bank Economic Review<\/strong>, 38(3) August 2024: 580\u2013597<\/li>\n<li>\u201c<a href=\"https:\/\/pubsonline.informs.org\/doi\/10.1287\/mnsc.2023.4710\" target=\"_blank\" rel=\"noopener\">The Effect of Managers on Systematic Risk<\/a>\u201d with K. Yeung and L. Zuo, <strong>Management Science,<\/strong> 70(2), February 2023<\/li>\n<li>\"<a class=\"publication__link\" href=\"https:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?PublicationDocumentID=8040\" target=\"_blank\" rel=\"noopener\">Belief Disagreement and Portfolio Choice<\/a>.\" with\u00a0 M. Meeuwis, J. Parker and D. Simester. <strong>Journal of Finance<\/strong>\u00a0Vol. 77, No. 6 (2022): 3191-3247.<\/li>\n<li>\"<a href=\"https:\/\/www.brookings.edu\/wp-content\/uploads\/2022\/03\/SP22_BPEA_MakarovSchoar_conf-draft.pdf\" target=\"_blank\" rel=\"noopener\">Cryptocurrencies and Decentralized Finance (DeFi)<\/a>,\" with I. Makarov, <strong>Brookings Papers on Economic Activity<\/strong>, BPEA Conference Drafts, Spring 2022, 1-71.<\/li>\n<li>\u201c<a href=\"https:\/\/www.sciencedirect.com\/science\/article\/abs\/pii\/S0304405X21002270?via%3Dihub\" target=\"_blank\" rel=\"noopener\">Investing Outside the Box: Evidence from Alternative Vehicles in Private Equity<\/a>,\u201d with J. Lerner, J. Mao, and N. Zhang, <strong>Journal of Financial Economics<\/strong>, Vol. 143, No. 1 (2022): 359-380. <a href=\"https:\/\/www.top1000funds.com\/2018\/08\/alternative-pe-vehicles-underperform\/\">Top 100 Funds, 2018<\/a>. <a href=\"https:\/\/www.top1000funds.com\/featured-homepage-posts\/2017\/11\/09\/private-equity-persistence-slips\/\">Top 100 Funds, 2017<\/a>.<\/li>\n<li style=\"padding-bottom: 16px\">\u201c<a href=\"https:\/\/doi.org\/10.1111\/jofi.12880\">Can Unemployment Insurance Spur Entrepreneurial Activity? Evidence from France<\/a>\u201d with J. Hombert, D. Sraer, and D. Thesmar,<strong> The Journal of Finance<\/strong>, 75, June 2020, 1246-1285.<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"https:\/\/doi.org\/10.1016\/j.jfineco.2019.07.001\">\"Trading and Arbitrage in Cryptocurrency Markets,<\/a>\"\u00a0with I. Makarov, <strong>Journal of Financial Economics<\/strong>, (135)2, February 2020, 293-319 .<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"https:\/\/www.aeaweb.org\/articles?id=10.1257\/pandp.20191020\">\"Price Discovery in Cryptocurrency Markets,<\/a>\" with I. Makarov, <strong>AEA Papers and Proceedings<\/strong>, 109, May 2019, 97-99.<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"https:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?DocumentID=5830\" target=\"_blank\" rel=\"noopener\">\"The Cost of Political Connections\"<\/a> with M. Bertrand, F. Kramarz and D. Thesmar, <strong>Review of Finance<\/strong>, 22(3), May 2018, 849-876.<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"http:\/\/mitsloan.mit.edu\/shared\/ods\/documents?DocumentID=4885\">\"The Impact of Consulting Services on Small and Medium Enterprises: Evidence from a Randomized Trial in Mexico,\"<\/a> with M. Bruhn and D. Karlan, <strong>Journal of Political Economy<\/strong>, 126(2), April 2018, 635-687.<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"http:\/\/doi.org\/10.1016\/j.jfineco.2017.05.012\">\"The Globalization of Angel Investments: Evidence Across Countries.\"<\/a> with J. Lerner, S. Sokolinski, and K. Wilson, <strong>Journal of Financial Economics<\/strong>, 126(2), April 2018, 1-20. <a href=\"https:\/\/www.forbes.com\/sites\/mariannehudson\/2016\/10\/04\/research-reveals-major-impacts-of-angels-and-some-angel-groups-outperform-vcs\/#3c97a6fc4ed1\">Forbes<\/a>.<\/li>\n<li style=\"padding-bottom: 16px\">\u201c<a href=\"https:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?PublicationDocumentID=5828\">The Role of Housing and Mortgage Markets in the Financial Crisis<\/a>,\u201d with M. Adelino and F. Severino, <strong>Annual Review of Financial Economics<\/strong>, 10, November 2018, 25-41. <a href=\"https:\/\/www.knowablemagazine.org\/article\/society\/2018\/subprime-crisis-housing-think-again\">Knowable Magazine<\/a>.<\/li>\n<li style=\"padding-bottom: 16px\">\u201c<a href=\"https:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?DocumentID=5826\" target=\"_blank\" rel=\"noopener\">Dynamics of Housing Debt in the Recent Boom and Great Recession<\/a>,\u201d with M. Adelino and F. Severino, <strong>NBER Macroeconomics Annual<\/strong>, 32(1), 2018, 265-311.<\/li>\n<li style=\"padding-bottom: 16px\">\u201c<a href=\"http:\/\/mitsloan-php.s3.amazonaws.com\/wp-faculty\/sites\/64\/2019\/07\/08173359\/Schoar_Introduction.pdf\">Introduction to\" Measuring Entrepreneurial Businesses: Current Knowledge and Challenges<\/a>,\" with J. Haltiwanger, E. Hurst, and J. Miranda, Measuring Entrepreneurial Businesses: Current Knowledge and Challenges, September 2017, 1-8.<\/li>\n<li style=\"padding-bottom: 16px\">\u201c<a href=\"https:\/\/www.nber.org\/books\/halt14-1\" target=\"_blank\" rel=\"noopener\">Does Unemployment Insurance Change the Selection into Entrepreneurship?<\/a>\u201d with J. Hombert, D. Sraer, and D. Thesmar, Measuring Entrepreneurial Businesses: Current Knowledge and Challenges, September 2017, 351-369.<\/li>\n<li style=\"padding-bottom: 16px\">\u201c<a href=\"https:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?DocumentID=5815\">Shaped by Booms and Busts: How the Economy Impacts CEO Careers and Management Styles<\/a>,\u201d with L. Zuo, <strong>The Review of Financial Studies<\/strong>, 30 (5), January 2017, 1425-1456.<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"http:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?PublicationDocumentID=5962\" target=\"_blank\" rel=\"noopener\">\"Loan Originations and Defaults in the Mortgage Crisis: The Role of the Middle Class,\"<\/a> with M. Adelino, F. Severino, <strong>The Review of Financial Studies<\/strong>, 29(7), July 2016, 1635-1670. <a href=\"https:\/\/mitsloan.mit.edu\/ideas-made-to-matter\/rethinking-how-housing-crisis-happened\">MIT Sloan Ideas Made to Matter<\/a>. <a href=\"https:\/\/qz.com\/1064061\/house-flippers-triggered-the-us-housing-market-crash-not-poor-subprime-borrowers-a-new-study-shows\/\">Quartz<\/a>. <a href=\"https:\/\/www.google.com\/url?sa=t&amp;amp;rct=j&amp;amp;q=&amp;amp;esrc=s&amp;amp;source=newssearch&amp;amp;cd=8&amp;amp;cad=rja&amp;amp;uact=8&amp;amp;ved=0ahUKEwjLlv7mn__VAhVn7oMKHeX7COkQqQIIOigAMAc&amp;amp;url=https%3A%2F%2Fwww.cbsnews.com%2Fnews%2Fheres-what-really-caused-housing-crisis%2F&amp;amp;usg=AFQjCNHXR7rOmoNU3_774w1dEHHHBx2eSA\">Money Watch<\/a>.<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"http:\/\/doi.org\/10.1257\/aer.p20161031\">\"Does the Market Value CEO Styles?\"<\/a> with L. Zuo, <strong>American Economic Review<\/strong>, 106(5), May 2016, 262-66.<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"https:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?PublicationDocumentID=5810\">\"How do CEOs see their roles? Management philosophies and styles in family and non-family firms,\"<\/a> with W. Mullins, <strong>Journal of Financial Economics<\/strong>, 119(1), January 2016, 24-43.<\/li>\n<li style=\"padding-bottom: 16px\">\"<a href=\"https:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?PublicationDocumentID=4485\">House Prices, Collateral, and Self-employment<\/a>,\" with M. Adelino and F. Severino, <strong>Journal of Financial Economics<\/strong>, 117(1), August 2015, 288-306.<\/li>\n<li style=\"padding-bottom: 16px\">\u201c<a href=\"http:\/\/mitsloan-php.s3.amazonaws.com\/wp-faculty\/sites\/64\/2019\/07\/08165743\/Schoar_Ex-post-in-Efficient-Negotiation-and-Breakdown-of-Trade.pdf\">Ex Post (In) Efficient Negotiation and Breakdown of Trade<\/a>,\u201d with R. Iyer, <strong>American Economic Review Papers and Proceedings<\/strong>\u00a0105(5), May 2015, 291-94.<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"https:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?PublicationDocumentID=7390\">\"Do Relationships Matter? Evidence from Loan Officer Turnover,\"<\/a> with A. Drexler, <strong>Management Science<\/strong>, 60(11) August 2014, 2722-2736.<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"https:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?PublicationDocumentID=7389\">\"Keeping it Simple: Financial Literacy and Rules of Thumb,\"<\/a> with A. Drexler, and G. Fischer, <strong>American Economic Journal: Applied Economics<\/strong>, 6(2), April 2014, 1-31.<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"https:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?PublicationDocumentID=7388\">\"Interbank Liquidity Crunch and the Firm Credit Crunch: Evidence from the 2007-2009 Crisis,\"<\/a> with R. Iyer, J. Peydr\u00f3, and S. da-Rocha-Lopes, <strong>The Review of Financial Studies<\/strong>, 27(1), January 2014, 347-372.<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"http:\/\/mitsloan-php.s3.amazonaws.com\/wp-faculty\/sites\/64\/2019\/07\/08172124\/Schoar_The-consequences.pdf\">\"The Consequences of Entrepreneurial Finance: Evidence from Angel Financings,\"<\/a> with W. Kerr and J. Lerner, <strong>The Review of Financial Studies<\/strong>, 27 (1), January 2014, 20-55.<\/li>\n<li style=\"padding-bottom: 16px\">\u201c<a href=\"https:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?PublicationDocumentID=5818\">The Investment Strategies of Sovereign Wealth Funds<\/a>,\u201d with S. Bernstein, and J. Lerner, <strong>Journal of Economic Perspectives<\/strong>, 27(2), Spring 2013, 219-38.<\/li>\n<li style=\"padding-bottom: 16px\">\u201c<a href=\"https:\/\/doi.org\/10.1177\/097492921100300305\">Chit Funds as an Innovative Access to Finance for Low-Income Households,<\/a>\u201d M. Kapoor, P. Rao, and S. Buteau, <strong>Review of Market Integration<\/strong>, 3(3), April 2012, 287-333.<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"https:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?PublicationDocumentID=7391\">\"Stressed not Frozen: The Federal Funds Market after the Financial Crisis,\"<\/a> with G. Afonso, and A. Kovner, <strong>The Journal of Finance<\/strong>, 66(4), July 2011, 1109-1139.<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"https:\/\/dspace.mit.edu\/openaccess-disseminate\/1721.1\/75778\">\"What Capital is Missing in Developing Countries?\"<\/a> with M. Bruhn, and D. Karlan, <strong>American Economic Review<\/strong>, 100(2), May 2012, 629-33.<\/li>\n<li style=\"padding-bottom: 16px\">\u201c<a href=\"http:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?PublicationDocumentID=2889\" target=\"_blank\" rel=\"noopener\">The Divide between Subsistence and Transformational Entrepreneurship<\/a>,\u201d <strong>Innovation Policy and the Economy<\/strong>, Vol 1, 2010, 209-240.<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"http:\/\/doi.org\/10.1257\/jep.22.3.207\">\"Secrets of the Academy: Drivers of University Endowment Success,\"<\/a> with J. Lerner, and J. Wang, <strong>Journal of Economic Perspectives<\/strong>, 22(3), Summer 2008, 207-22.<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"http:\/\/www.nber.org\/papers\/w13738\">\"Mixing Family with Business: A Study of Thai Business Groups and the Families Behind Them,\"<\/a>\u00a0with M. Bertrand, S. Johnson, and K. Samphantharak, <strong>Journal of Financial Economics<\/strong>, 88(3), June 2008, 466-498.<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"http:\/\/mitsloan.mit.edu\/shared\/ods\/documents?DocumentID=4454\">\"Smart Institutions, Foolish Choices? The Limited Partner Performance Puzzle,\"<\/a> with J. Lerner and W. Wong, <strong>The Journal of Finance<\/strong>, 62(2), March 2007, 731-764.<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"http:\/\/doi.org\/10.1111\/j.1540-6261.2007.01218.x\">\"Banking Deregulation and Industry Structure: Evidence from the 1985 French Banking Act,\"<\/a>\u00a0with\u00a0M. Bertrand and D. Thesmar, <strong>The Journal of Finance<\/strong>, 62(2), March 2007, 597-628.<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"http:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?DocumentID=2892\">\"The Role of Family in Family Firms,\"<\/a> with M. Bertrand, <strong>Journal of Economic Perspectives<\/strong>, 20(2), Spring 2006, 73-96.<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"https:\/\/dspace.mit.edu\/bitstream\/handle\/1721.1\/5050\/4446-03.pdf?sequence=2\">\"Private Equity Performance: Returns, Persistence and Capital Flow,\"<\/a> with S. Kaplan, <strong>The Journal of Finance<\/strong>, 60(4), August 2005, 1791-1823. <a href=\"https:\/\/venturebeat.com\/2017\/04\/02\/vc-performance-is-beating-the-sp-500\/\">Venture Beat<\/a>.<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"http:\/\/www.cesifo-group.de\/DocCIDL\/dicereport305-rm2.pdf\">\"Credit and Product Market Effects of Banking Deregulation: Evidence from the French Experience,\"<\/a> with M. Bertrand and D. Thesmar, DICE Report - Journal for Institutional Comparisons, 3(3), March 2005, 61-65.<\/li>\n<li style=\"padding-bottom: 16px\">\u201c<a href=\"https:\/\/doi.org\/10.1162\/0033553053327443\">Does Legal Enforcement Affect Financial Transactions? The Contractual Channel in Private Equity<\/a>,\u201d with J. Lerner, <strong>The Quarterly Journal of Economics<\/strong>, 120(1), February 2005, 223-246.<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"http:\/\/doi.org\/10.1016\/S0304-405X(03)00203-4\">\"The Illiquidity Puzzle: Evidence from Private Equity Partnerships,\"<\/a> with J. Lerner, <strong>Journal of Financial Economics<\/strong>, 72(1), April 2004, 3-40.<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"https:\/\/dspace.mit.edu\/bitstream\/handle\/1721.1\/1824\/4280-02.pdf?sequence=2\">\"Managing with Style: The Effect of Managers on Corporate Policy,\"<\/a> with M. Bertrand, <strong>The Quarterly Journal of Economics<\/strong>, 118(4), November 2003, 1169-1208.<\/li>\n<li style=\"padding-bottom: 16px\"><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=369706\">\"Effects of Corporate Diversification on Productivity,\"<\/a> <strong>The Journal of Finance<\/strong>, 57(6), December 2002, 2379-2403.<\/li>\n<\/ul>\n<\/div><\/div><div id=\"panel-16-0-0-1\" class=\"so-panel widget widget_mit-pf-research widget_mit_pf_research panel-last-child\" data-index=\"1\" ><h2 class=\"widget-title\">Additional Papers<\/h2><div class=\"textwidget\"><ul>\n<li><a href=\"https:\/\/mitsloan.mit.edu\/shared\/ods\/documents?PublicationDocumentID=9959\" target=\"_blank\" rel=\"noopener\">\u201cRetail Financial Innovation and Stock Market Dynamics: The Case of Target Date Funds<\/a>\u201d with J. A. Parker and Y. Sun, <strong>Journal of Finance<\/strong>, forthcoming, and from the <a href=\"https:\/\/corpgov.law.harvard.edu\/2023\/02\/21\/retail-financial-innovation-and-stock-market-dynamics-the-case-of-target-date-funds\/\">Harvard Law School Forum on Corporate Governance<\/a><\/li>\n<li>\"<a href=\"https:\/\/www.journals.uchicago.edu\/toc\/ma\/2020\/34\/+\">Comment on \"Special Deals with Chinese Characteristics\"<\/a><strong> NBER Macroeconomics Annual 2019<\/strong>, volume 34, March 2020, 389-394.<\/li>\n<li style=\"padding-bottom: 16px\">\u201c<a href=\"http:\/\/mitsloan.mit.edu\/shared\/ods\/documents\/?PublicationDocumentID=4447\" target=\"_blank\" rel=\"noopener\">Introduction to\" International Differences in Entrepreneurship<\/a>,\" with J. Lerner, <strong>International Differences in Entrepreneurship<\/strong>, May 2012, 1-13.<\/li>\n<li style=\"padding-bottom: 16px\">\u201c<a href=\"https:\/\/voxeu.org\/article\/what-happened-us-interbank-lending-financial-crisis\">What Happened to US Interbank Lending in the Financial Crisis<\/a>,\u201d with G. Afonso, A. Kovner, A. Schoar, <strong>Vox<\/strong>, April 2010.<\/li>\n<li style=\"padding-bottom: 16px\">\u201c<a href=\"https:\/\/onlinelibrary.wiley.com\/doi\/abs\/10.1111\/j.1745-6622.2008.00200.x\">The Contributions of Stewart Myers to the Theory and Practice of Corporate Finance<\/a>,\u201d with F. Allen, S. Bhattacharya, and R. Rajan, <strong>Journal of Applied Corporate Finance<\/strong>, 20(4), December 2008, 8-19.<\/li>\n<\/ul>\n<\/div><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>Publications &#8220;The Missing LTV Cycle&#8221; with M. Adelino and W. McCartney, American Economic Review: Insights, Forthcoming, October 2025 \u201cRevenue Collapses and the Consumption of Small Business Owners in the Early Stages of the COVID-19 Pandemic\u201d with O. Kim and J. A. Parker, Journal of Financial Economics, Vol. 170, August 2025: 104079. &#8220;Household Portfolios and Retirement [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":2,"comment_status":"closed","ping_status":"closed","template":"template-two-column.php","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"class_list":["post-16","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.0 (Yoast SEO v25.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MIT Sloan Faculty: Antoinette Schoar | Research and Publications<\/title>\n<meta name=\"description\" content=\"Antoinette Schoar is the Michael M. 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