Ricardo T. Fernholz

·       Ricardo T. Fernholz


·       RESEARCH

·       Commentaries

·       TEACHING





The Rise of Big U.S. Banks and the Fall of Big European Banks: A Statistical Decomposition [
PDF] (with Christoffer Koch)

European Economic Review, Forthcoming
Presentation Slides

Zipf’s Law for Atlas Models [
PDF] (with Robert Fernholz)

Journal of Applied Probability, December 2020, 57(4), p. 1276-1297
Presentation Slides
Related Working Paper

Nonparametric Methods and Local-Time-Based Estimation for Dynamic Power Law Distributions [

Journal of Applied Econometrics, November/December 2017, 32(7), p. 1244-1260
Presentation Slides 

Bank Asset Concentration Not Necessarily a Cause for Worry [
PDF] (with Christoffer Koch)

Federal Reserve Bank of Dallas Economic Letter, June 2017, 12(7), p. 1-4

Pulling up the Tarnished Anchor: The End of Silver as a Unit of Account [
PDF] (with Kris Mitchener and Marc Weidenmier)

Journal of International Money and Finance, June 2017, 74, p. 209-228
VoxEu Column

Big Banks, Idiosyncratic Volatility, and Systemic Risk [
PDF] (with Christoffer Koch)

American Economic Review: Papers & Proceedings, May 2017, 107(5), p. 603-607
Wall Street Journal Coverage

The Distributional Effects of Progressive Capital Taxes [

Journal of Economic Policy Reform, 2017, 15(2), p. 99-112
Related Working Paper (Presentation Slides for working paper) (Econbrowser Summary for working paper)

A Model of Economic Mobility and the Distribution of Wealth [

Journal of Macroeconomics, December 2016, 50, p. 168-192
Presentation Slides

Exchange Rate Manipulation and Constructive Ambiguity [

International Economic Review, November 2015, 56(4), p. 1323-1348
Presentation Slides
Supplemental Materials

Instability and Concentration in the Distribution of Wealth [
PDF] (with Robert Fernholz)

Journal of Economic Dynamics and Control, July 2014, 44, p. 251-269
Presentation Slides
VoxEu Column
Baseline Scenario Discussion

Terrorism and the Invisible Hook [
PDF] (with S. Brock Blomberg and John-Clark Levin)

Southern Economic Journal, April 2013, 79(4), p. 849-863



Heterogeneous Dynasties and Long-Run Mobility [
PDF] (with Alberto Bisin and Jess Benhabib)

Revise and resubmit, Economic Journal

Permutation-Weighted Portfolios and the Efficiency of Commodity Futures Markets [
PDF] (with Robert Fernholz)

Revise and resubmit, Annals of Finance

Racing to Zipf’s Law: Race and Metro Population Size 1910-2010 [
PDF] (with Rory Kramer)

Asset Price Distributions and Efficient Markets [
PDF] (with Caleb Stroup)



Updated May 2021