Pandemic fraud facilitated by FinTech lenders exhibited significant geographic concentration, which makes it a unique setting to examine the effects of excess local stimulus cashflow on local purchases and prices. We first examine effects on a highly immovable local good — housing. At the...

In the distribution of the Paycheck Protection Program’s (PPP) $780 billion in funds, FinTech lenders began minimally but ramped up their market share to over 70% of originated loans by April 2021. We examine metrics related to potential misreporting including non-registered businesses,...

At the settlement time of the VIX Volatility Index, volume spikes on S&P 500 Index (SPX) options, but only in out-of-the-money options that are used to calculate the VIX, and more so for options with a higher and discontinuous influence on VIX. We investigate alternative explanations of hedging...