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Photo of Song Han

Song Han

Assistant Director

Chief, Short-Term Funding Markets Section

Research and Statistics

202-736-1971
Song.Han@frb.gov
Education
  • Ph.D., Money and Banking, Finance, University of Chicago, 1998
  • B.A., Economics, People's University of China, 1990
  • Current Research Topics

  • Over-the-Counter Financial Markets
  • Financial Distress
    • Assistant Director

      Board of Governors of the Federal Reserve System

    • 2016 - present
    • Chief

      Board of Governors of the Federal Reserve System

    • 2013 - present
    • Sr. Economist

      Board of Governors of the Federal Reserve System

    • 2007 - 2012
    • Economist

      Board of Governors of the Federal Reserve System

    • 2001 - 2007
    • Visiting Assistant Professor

      University of Rochester

    • 2000 - 2001
  • Han, Song, and Hao Zhou (2016). "Effects of Liquidity on the Non-Default Component of Corporate Yield Spreads: Evidence from Intraday Transactions Data," Quarterly Journal of Finance, vol. 6, no. 3.
  • Han, Song, and Kleopatra Nikolaou (2016). "Trading Relationships in the OTC Market for Secured Claims: Evidence from Triparty Repos," Finance and Economics Discussion Series 2016-064. Washington: Board of Governors of the Federal Reserve System (U.S.).
  • Bao, Jack, Josh David, and Song Han (2015). "The Runnables," FEDS Notes 2015-09-03. Board of Governors of the Federal Reserve System (U.S.).
  • Han, Song, Benjamin Keys, and Geng Li (2015). "Information, Contract Design, and Unsecured Credit Supply: Evidence from Credit Card Mailings," Finance and Economics Discussion Series 2015-103. Washington:Board of Governors of the Federal Reserve System/
  • Han, Song, and Xing Zhou (2014). "Informed Bond Trading, Corporate Yield Spreads, and Corporate Default Prediction," Management Science, vol. 60, no. 3, pp. 675-694.
  • Cai, Fang, Song Han, and Dan Li (2012). "Institutional Herding in the Corporate Bond Market," International Finance Discussion Papers 1071. Board of Governors of the Federal Reserve System (U.S.).
  • Han, Song (2011). "Creditor Learning and Discrimination in Lending," Journal of Financial Services Research, vol. 40, no. 1-2, pp. 1-27.
  • Han, Song, and Geng Li (2011). "Household Borrowing After Personal Bankruptcy," Journal of Money, Credit, and Banking, vol. 43, no. 2-3, pp. 491-517.
  • Han, Song, Benjamin J. Keys, and Geng Li (2011). "Credit Supply to Personal Bankruptcy Filers: Evidence from Credit Card Mailings," Finance and Economics Discussion Series 2011-29. Board of Governors of the Federal Reserve System (U.S.).
  • Han, Song, and Dan Li (2010). "The Fragility of Discretionary Liquidity Provision: Lessons from the Collapse of the Auction Rate Securities Market," Finance and Economics Discussion Series 2010-50. Board of Governors of the Federal Reserve System (U.S.).
  • Han, Song, and Casey B. Mulligan (2008). "Inflation and the Size of Government," Economic Review, vol. 90, no. 3, pp. 245-267.
  • Han, Song, and Hao Zhou (2008). "Effects of Liquidity on the Nondefault Component of Corporate Yield Spreads: Evidence from Intraday Transactions Data," Finance and Economics Discussion Series 2008-40. Board of Governors of the Federal Reserve System (U.S.).
  • Han, Song, and Wenli Li (2007). "Fresh Start Or Head Start? the Effect of Filing for Personal Bankruptcy on Work Effort," Journal of Financial Services Research, vol. 31, no. 2-3, pp. 123-152.
  • Covitz, Daniel M., Song Han, and Beth Anne Wilson (2006). "Are Longer Bankruptcies really More Costly?" Finance and Economics Discussion Series 2006-27. Board of Governors of the Federal Reserve System (U.S.).
  • Covitz, Daniel, and Song Han (2005). "An Empirical Analysis of Bond Recovery Rates: Exploring a Structural View of Default," Finance and Economics Discussion Series 2005-10. Board of Governors of the Federal Reserve System (U.S.).
  • Han, Song (2004). "Discrimination in Lending: Theory and Evidence," Journal of Real Estate Finance and Economics, vol. 29, no. 1, pp. 5-46.
  • Han, Song (2002). "On the Economics of Discrimination in Credit Markets," Finance and Economics Discussion Series 2002-2. Board of Governors of the Federal Reserve System (U.S.).
  • Han, Song, and Casey B. Mulligan (2001). "Human Capital, Heterogeneity and Estimated Degrees of Intergenerational Mobility," Economic Journal, vol. 111, no. 470, pp. 207-243.
  • Han, Song (1998). "Credit Risk, Discrimination, and Regulation in Credit Markets," Ph.D dissertation, University of Chicago.
  • conference

    September 23, 2011

    Consumer Credit and Payment Conference, Federal Reserve Bank of Philadelphia

    Credit Supply to Personal Bankruptcy Filers

  • seminar

    May 26, 2011

    Office of the Comptroller of the Currency

    Credit Supply to Personal Bankruptcy Filers

  • conference

    May 6, 2011

    Annual Bank Structure and Competition Conference, Federal Reserve Bank of Chicago

    Credit Supply to Personal Bankruptcy Filers

  • conference

    July 7, 2011

    China International Conference in Finance

    Institutional Herding in the Corporate Bond Market

  • seminar

    March 2010

    Municipal Bond Rulemaking Board

    The Fragility of Discretionary Liquidity Support

  • conference

    July 2009

    NBER Summer Institute

    Household Borrowing after Filing for Personal Bankruptcy

  • conference

    July 11, 2009

    Financial Crisis Conference, Yale University

    Discussing "Why Did Auctions Fail?" by McDonnell and Saretto

  • conference

    June, 2009

    Mitsui Finance Symposium, University of Michigan

    The Fragility of Discretionary Liquidity Support

  • conference

    May 10, 2008

    The 11th Annual Wharton/Oliver Wyman Risk Roundable

    Market Works: Lessons from the Auction Rate Municipal Bond Market (Invited Talk)

  • conference

    March 2008

    The Risk Management Conference at Mont Tremblant

    The Effect of Liquidity on the Non-Default Component of Corporate Bond Yield Spreads

  • conference

    May 2008

    HEC Conference on Credit and Operational Risk

    The Effect of Liquidity on the Non-Default Component of Corporate Bond Yield Spreads

  • seminar

    November 2007

    Bank for International Settlement

    The Effect of Liquidity on the Non-Default Component of Corporate Bond Yield Spreads

Awards

  • 2001

    Royal Economic Society

    The Economic Journal Best Paper Prize

Conference Organization

  • March 22-23, 2007 Board of Governors of the Federal Reserve System

    Credit Risk and Credit Derivatives

    Co-organizer

Referee

  • The American Economic Review
  • Journal of European Economic Association
  • Journal of Financial Services Research
  • Journal of Money, Credit and Banking
  • Journal of Political Economy
  • National Science Foundation
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Last update: September 19, 2016