Photo of Lei Li

Lei Li


  • Ph.D., Finance, Boston College, 2012
  • M.A., Economics, Brown University, 2007
  • M.Sc., Mathematics, Brown University, 2006
  • Senior Economist

    Board of Governors of the Federal Reserve System

    2018 - present
  • Visiting Scholar

    Board of Governors of the Federal Reserve System

    2017 - 2018
  • Assistant Professor of Finance

    University of Kansas

    2012 - 2018
  • Li, Lei, and Philip Strahan (2020). "Who Supplies PPP Loans (And Does it Matter)? Banks, Relationships and the COVID Crisis," NBER Working Paper No. 28286. Cambridge, MA: National Bureau of Economic Research.
  • Li, Lei, Philip Strahan, Song Zhang (2020). "Banks as Lenders of First Resort: Evidence from the COVID-19 Crisis," The Review of Corporate Finance Studies, vol. 9, no. 3, pp. 472–500.
  • Cortés, Kristle R., Yuliya Demyanyk, Lei Li, Elena Loutskina, and Philip E. Strahan (2020). "Stress Tests and Small Business Lending," Journal of Financial Economics, vol. 136, no. 1, pp. 260-279.
  • Aragon, George O., Lei Li, and Jun 'QJ' Qian (2019). "The Use of Credit Default Swaps by Bond Mutual Funds: Liquidity Provision and Counterparty Risk," Journal of Financial Economics, vol. 131, no. 1, pp. 168-185.
  • Goldie, Bradley A., Lei Li, and Adi Masli (2018). "Do Mutual Fund Investors Care about Auditor Quality?" Contemporary Accounting Research, vol. 35, no. 3, pp. 1505-1532.
  • Carter, Mary Ellen, Lei Li, Alan J. Marcus, Hassan Tehranian (2016). "Excess Pay and Deficient Performance," Review of Financial Economics, vol. 30, no. 1, pp. 1-10.
  • Cornett, Marcia Millon, Lei Li, and Hassan Tehranian (2013). "The Performance of Banks around the Receipt and Repayment of TARP Funds: Over-achievers versus Under-achievers," Journal of Banking & Finance, vol. 37, no. 3, pp. 730-746.
  • Li, Lei (2013). "TARP Funds Distribution and Bank Loan Supply," Journal of Banking & Finance, vol. 37, no. 12, pp. 4777-4792.
  • Review of Financial Studies
  • Journal of Financial Intermediation
  • Journal of Corporate Finance
  • Journal of Money, Credit and Banking
  • Journal of Banking and Finance
  • Economic Inquiry
Last update: July 27, 2021