Itay Goldstein

About

Itay Goldstein is the Director of the Wharton Initiative on Financial Policy and Regulation (WIFPR) at the University of Pennsylvania's Wharton School. He heads the initiative, which was established in 2021, and focuses on research, conferences, and events at the intersection of finance, law, and policy. The initiative is under the umbrella of the Stevens Center for Innovation in Finance and emphasizes scholarly engagement, student support, and public policy. As a key figure in the initiative, Itay Goldstein's role involves organizing projects such as the Business, Economic, and Financial History Project, and engaging in activities related to central banking and financial regulation. His leadership supports the broader mission of fostering research and dialogue in financial policy and regulation.

Research topics

• Economics
• Finance
• Computer Science
• Business
• Political Science
• Data Mining
• Financial economics
• Monetary economics
• Financial system
• Economic growth

Selected publications

• Financial fragility in the COVID-19 crisis: The case of investment funds in corporate bond markets

  Journal of Monetary Economics · 2021 · 287 citations

  DOI

• Information in Financial Markets and Its Real Effects

  Review of Finance · 2022 · 202 citations

  1st authorCorresponding

  Abstract Financial markets have a central role in allocating resources in modern economies. One of the main functions of financial markets is the discovery of information. This information in turn helps guide decisions in the real side of the economy. The literature on the “feedback effect” of financial markets explores this channel. Empirical work tries to identify the informational feedback from markets to corporate decisions. Theoretical work explores implications that this feedback effect ha…

  DOI

• What’s not there: Odd lots and market data

  Review of Financial Studies · 171 citations

  1st authorCorresponding

  Big data is revolutionizing the finance industry and has the potential to significantly shape future research in finance. This special issue contains papers following the 2019 NBER-RFS Conference on Big Data. In this introduction to the special issue, we define the “big data” phenomenon as a combination of three features: large size, high dimension, and complex structure. Using the papers in the special issue, we discuss how new research builds on these features to push the frontier on fundament…

  DOI

• COVID-19 and Its Impact on Financial Markets and the Real Economy

  Review of Financial Studies · 2021 · 167 citations

  1st authorCorresponding

  Abstract The COVID-19 pandemic severely disrupted financial markets and the real economy worldwide. These extraordinary events prompted large monetary and fiscal policy interventions. Recognizing the unusual nature of the shock, the academic community has produced an impressive amount of research during the last year. Macro-finance models have been extended to analyze the impact of epidemics. Empirical papers study the origins and consequences of the disruptions and the impact of policy interven…

  DOI

• The Real Effects of Modern Information Technologies: Evidence from the EDGAR Implementation

  Journal of Accounting Research · 2023-06-08 · 105 citations

  articleOpen access1st authorCorresponding

  ABSTRACT Using the implementation of the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system from 1993 to 1996 as a shock to information dissemination technologies, we examine how a significant reduction in disclosure processing costs affects the real economy. We find that the EDGAR implementation leads to an increase in corporate investment and that this effect is concentrated in value firms. We provide evidence that improved equity financing and enhanced managerial incentives are…

  PublisherOA PDFDOI

Frequent coauthors

• Luo Zuo

  National University of Singapore

  86 shared

• Shijie Yang

  Chinese University of Hong Kong, Shenzhen

  85 shared

• Lucian A. Bebchuk

  National Bureau of Economic Research

  55 shared

• Alex Edmans

  London Business School

  44 shared

• Wei Jiang

  Shanghai Jiao Tong University

  40 shared

• Assaf Razin

  37 shared

• Liyan Yang

  University of Toronto

  26 shared

• Philip L. Bond

  25 shared

Similar researchers at University of Pennsylvania

• Joseph E. Gyourkoh-72
• David Mustoh-31
• Kartik Hosanagarh-30