Mahyar Kargar

I am an assistant professor of finance at the Gies College of Business, University of Illinois at Urbana-Champaign.

My research interests are in financial intermediation, asset pricing, financial market liquidity, macro finance, and public finance.

Download my CV.

Recent Activity

Corporate Bond Liquidity during the COVID-19 Crisis
(with Benjamin Lester, David Lindsay, Shuo Liu, Pierre-Olivier Weill, and Diego Zúñiga)
Review of Financial Studies, forthcoming
Internet Appendix | code | slides | RFS version | NBER WP | presentation video (1h:10-1h:40) | non-technical summary
Heterogeneous Intermediary Asset Pricing
Journal of Financial Economics, 141 (2), August 2021, pp. 505-532
Internet Appendix | data | slides | JFE version | Erratum to the print version
Xavier Drèze Award for the most outstanding research paper at UCLA Anderson

Liquidity and Risk in OTC Markets: A Theory of Asset Pricing and Portfolio Flows
(with Juan Passadore and Dejanir Silva)
presentation video | slides
Conferences: SaMMF, SFS Cavalcade 2021, SITE 2021
The Economic Burden of Pension Shortfalls: Evidence from House Prices
(with Darren Aiello, Asaf Bernstein, Ryan Lewis, and Michael Schwert)
slides
Conferences: SFS Cavalcade 2021, Red Rock Finance Conference 2021, AFA 2022
Funding Liquidity and the Valuation of Mortgage-Backed Securities
(with Brett Dunn)
slides
The Incidence of Student Loan Subsidies: Evidence from the PLUS Program
(with William Mann)
Revise and Resubmit, Review of Financial Studies
summary in Forbes

Inventory, Market Making, and Liquidity: Theory and Application to the Corporate Bond Market
(with Benjamin Lester and Pierre-Olivier Weill)
presentation video by Pierre-Olivier Weill | slides
Conferences: SaMMF, SED 2021
Dissecting the Aggregate Market Elasticity
(with Victor Duarte and Dejanir Silva)