Rate My Professor Jennie Bai

Her research focuses on credit markets, including asset pricing of debt and its connection with corporate finance; banking and non-bank financial institutions; information economics; climate finance; and the art market. Bai has published in top journals such as the Journal of Financial Economics, Journal of Finance, Review of Financial Studies, Journal of Financial and Quantitative Analysis, and Management Science. Notable publications include “Have Financial Markets Become More Informative?” with T. Philippon and A. Savov (Journal of Financial Economics, 2016); “Measuring Liquidity Mismatch in the Banking Sector” with A. Krishnamurthy and C.-H. Weymuller (Journal of Finance, 2018); “Is the Credit Spread Puzzle a Myth?” with R. Goldstein and F. Yang (Journal of Financial Economics, 2020); “Safe-Asset Shortages: Evidence from the European Government Bond Lending Market” with R. Aggarwal and L. Laeven (Journal of Financial and Quantitative Analysis, 2021); and “Carbon Emissions Trading and Environmental Protection: International Evidence” with H. Ru (Management Science, 2024). She is a Research Associate in the Asset Pricing program at the National Bureau of Economic Research since 2019 and has served as Associate Editor for the Journal of Financial Economics (2021-2024), Management Science (2021-2024), Journal of Financial Intermediation (2022-present), and Review of Corporate Finance Studies (2025-present). Additional honors include the Wim Duisenberg Research Fellowship from the European Central Bank (2025) and Advisory Council Member for the Board of Governors of the Federal Reserve System (2017-2020). Her scholarship has significantly influenced understanding of liquidity risks, credit spreads, and financial market informativeness.