Expertise

Quantitative measures of legal innovation.
The role of banks in financing corporate investment.
Market opacity, financial collapse and capital taxation. 

Overview

Oren Sussman’s current research focuses of range of issues related to financial distress, including sovereign debt, bankruptcy law and the macroeconomic implications of default and fire sales. In a recent paper, co-authored with Alexander Guembel, we derive precise measures to value the welfare loss resulting from under-provision of liquidity and heightened financial fragility. Alternative policy measures are evaluated in terms of their welfare effects.

Sussman took his BA, MA and PhD at the Hebrew University of Jerusalem, where he lectured from 1992 to 1996, before being appointed as a senior lecturer at Ben Gurion University. He has also held visiting positions at MIT, Pennsylvania University, CEMFI Madrid and London Business School.

Research interests

Quantitative measures of legal innovation.
The role of banks in financing corporate investment.
Market opacity, financial collapse and capital taxation

Book chapters:

Sussman, O., 'Convergence in Growth Rates: A Quantitative Assessment of the Role of Capital Mobility and International Taxation: Discussion', in: Leiderman, L. & Razin, A. (Ed.), Capital Mobility: The Impact on Consumption, Investment and Growth, Cambridge University Press, 1994.

Sussman, O., 'A Theory of Financial Development', in: Giovannini, A. (Ed.), Finance and Development: Issues and Experiences, Cambridge University Press, 1993.

Sussman, O., 'Information Capacity and Financial Collapse: Discussion', in: Mayer, C. & Vives, C. (Ed.), Capital Markets and Financial Intermediation, Cambridge University Press, 1993.

Journal articles:

Franks, J. & Sussman, O., 'Financial Innovations and Corporate Bankruptcy', Journal of Fincancial Intermediation, Vol. 14:3, 2005, pp.283-317.

Franks, J., and Sussman, O., 'Financial Distress and Bank Restructuring of Small to Medium Size UK Companies', Review of Finance, Vol. 2:6, 2005.

Guembel, A., and Sussman, O., 'Optimal Exchange Rates: A Market Microstructure Approcach', Journal of the European Economic Association, Vol. 2(5), 2004, pp.1242-1274.

Sussman, O., 'Economic Growth with Standardized Contracts', European Economic Review, Vol.43:9, 1999, pp.1797-1818.

Suarez, J. & Sussman, O., 'Financial Distress and the Business Cycle', Oxford Review of Economic Policy, Vol.15:3, 1999, pp.39-51.

Sussman, O., 'Language and Contract', Journal of Institutional and Theoretical Economics, Vol.154:2, 1998, pp.384-405.

Suarez, J. & Sussman, O., 'Endogenous Cycles in a Stiglitz-Weiss Economy', Journal of Economic Theory, Vol.76:1, 1997, pp.47-71.

Roell, A. & Sussman, O., 'Stabilization', European Economic Review, Vol.41:2, 1997, pp.279-293.

Working papers:

Corbett, J., Edwards, J., Jenkinson, T., Mayer, C., & Sussman, O., A Response to Hackethal and Schmidt (2003) “Financing Patterns: Measurement Concepts and Empirical Results”, 2004.

Incomplete Contracts, the Port of Gaza and the Case for Economic Sovereignty, 2000.

Resolving Financial Distress By Way of a Contract: an Empirical Study of Small UK Companies.

A Stylized Model of Financially-Driven Business Cycles, 1999.

Financial Innovations and Corporate Insolvency, 1999.