Junyoung Jeong

Job Market Paper. I develop a model to study how regulatory capital requirements affect banks' reporting incentives for available-for-sale and held-to-maturity securities. I find that the capital requirement plays an important role in allowing banks to reveal their private information through this channel, but results in banks with intermediate levels of losses being capital constrained, rather than banks with the poorest performance.

R&R at the Journal of Accounting and Economics. We develop a model to study how the Corporate Alternative Minimum Tax (CAMT) affects firms’ financial reporting behavior and their resulting tax burdens. Due to the option-like nature of the CAMT, the expected tax burden is increasing in the variance of the firm's book-tax difference and functions as a regressive tax.

We develop a continuous-time, general equilibrium model with persistent liquidity shocks to study how credit lines transmit liquidity shocks in the private credit sector to the banking sector. We find that liquidity provision from the banking sector to the private credit sector can transmit negative shocks, leading to complementarity between the two sectors.

Discussion for the 2024 JAE Conference . Discusses Feng et al. (2024) which studies a dynamic model of delegated investment.