Author's profile

Max Bruche
Cass Business School


Reader in Finance, Faculty of Finance

Max Bruche received his PhD in Finance from the London School of Economics and holds a BA in Politics, Philosophy and Economics and MPhil in Economics, both from Oxford University. He has previously worked at the Centro de Estudios Monetarios y Financieros (CEMFI) in Madrid, and has held visiting positions at Lehman Brothers, the European Central Bank, and the Federal Reserve Bank of New York.

Max is especially interested in credit risk and banking, both from a corporate finance as well as an asset pricing perspective.

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Author articles

  • This research models the debt maturity choice of firms in the presence of fixed issuance costs in the primary market and searches frictions in the secondary market for debt.

    07/10/2016 | 1,139
  • This article considers the problems that governments and regulators face in preventing zombie lending, where insolvent banks continue lending to insolvent borrowers in order to hide losses and "gamble for resurrection"

    14/04/2014 | 5,744
  • During the global crisis central banks were accused of undertaking unconventional measures that some commentators claimed went beyond their mandate. This article focuses on central banks intervening in the money markets as a middle man. It argues that such actions can be welfare improving, but are unlikely to be fiscally neutral, thus raising questions about whether they should be left to a central bank.

    06/02/2013 | 5,423