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SUMMARY:Yao Zeng\, PhD\, Wharton School of Business\, University of Pennsyl
 vania
DESCRIPTION: \n\nI work on the intersection of asset pricing and corporate 
 finance with\na focus on financial intermediation\, and received my PhD in
  Economics\nfrom Harvard University in 2016.\n\nMy current agenda explores
  how new technologies and non-bank entrants\nshape the landscape and evolu
 tion of money\, banking\, payments and the\nfinancial stability and macroe
 conomic implications.\n\nA recent webinar at PIIE (with slides) on Basel I
 II Endgame and its\nimplications on banks and financial markets\, an op-ed
  on the Silicon\nValley Bank collapse and a blog post on mutual funds summ
 arize my\nresearch and views on financial stability risks and how we can f
 ight\nagainst them.\n\nWORKING PAPERS\n\n“Tracing the Impact of Payment 
 Convenience on Deposits: Evidence\nfrom Depositor Activeness\,” with Xu 
 Lu and Yang Song\n\nMedia Mentions: Knowledge@Wharton\n\nPreviously circul
 ated as “The Making of an Alert Depositor: How\nPayment and Interest Dri
 ve Deposit Dynamics”\n\n“Payments\, Reserves\, and Financial Fragility
 \,” with Itay Goldstein\nand Ming Yang\n\nSELECTED PUBLICATIONS\n\n“Ba
 nk Debt\, Mutual Fund Equity\, and Swing Pricing in Liquidity\nProvision\,
 ” with Yiming Ma and Kairong Xiao\n\nReview of Financial Studies\, forth
 coming\n\nMentioned in the SEC’s proposed rule on Open-End Fund Liquidit
 y Risk\nManagement Programs and Swing Pricing\n\nMentioned in the SEC’s 
 proposed rule on Money Market Fund Reforms\n\nMedia Mentions: Wharton Init
 iative on Financial Policy and Regulation\n\n“FinTech Lending and Cashle
 ss Payments\,” with Pulak Ghosh and\nBoris Vallee\n\nJournal of Finance\
 , forthcoming\n\nMedia Mentions: Knowledge@Wharton\n 
DTSTART:20250124T153000Z
DTEND:20250124T170000Z
LOCATION:Gerri C. LeBow Hall\, 3220 Market Street\, 722\, Philadelphia\, PA
  19104
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