Antje Berndt Assistant Professor of Finance Tepper School of Business Carnegie Mellon University 5000 Forbes Avenue Pittsburgh, PA 15213 (412) 268-1871 phone (412) 268-7064 fax aberndt "at" andrew.cmu.edu CV [pdf]

Publications How Does the U.S. Government Finance Fiscal Shocks? [pdf] with Hanno Lustig and Sevin Yeltekin American Economic Journal: Macroeconomics 4: 69-104, 2012 On Correlation and Default Clustering in Credit Markets [pdf] with Peter Ritchken and Zhiqiang Sun Review of Financial Studies 23: 2680-2729, 2010 Decomposing European CDS Returns [pdf] with Iulian Obreja Review of Finance 14: 189-233, 2010 Moral Hazard and Adverse Selection in the Originate-to-Distribute Model of Bank Credit [pdf] with Anurag Gupta Journal of Monetary Economics 56: 725-743, 2009 Restructuring Risk in Credit Default Swaps: An Empirical Analysis [pdf] with Robert Jarrow and ChoongOh Kang Stochastic Processes and their Applications, 117, 1724-1749, 2007 The Pitfalls of Originate-to-Distribute in Bank Lending with Anurag Gupta Lessons from the Financial Crisis: Causes, Consequences, and Our Economic Future, edited by R. Kolb, John Wiley & Sons, 2010

Completed Working Papers What Broker Charges Reveal About Mortgage Credit Risk [pdf] with Burton Hollifield and Patrik Sandas Measuring Default Risk Premia from Default Swap Rates and EDFs [pdf] with Rohan Douglas, Darrell Duffie, Mark Ferguson, and David Schranz Do Equity Markets Favor Credit Market News Over Options Market News? [pdf] with Anastasiya Ostrovnaya Specification Analysis of Reduced-Form Credit Risk Models [pdf] Estimating the Term Structure of Credit Spreads from Callable Corporate Bond Price Data [pdf]