Patrick Herb¶
Assistant Professor of Finance at the W.A. Franke College of Business, Northern Arizona University
patrick.herb@nau.edu | Download CV
Expertise¶
Municipal bonds, Treasury bonds, bond offerings and auctions, asset pricing and financial intermediation
Publications¶
Patrick Herb. 2025. The treasury auction risk premium. Journal of Banking and Finance, 170, 107316
Herb, Patrick and Raymond Kim. 2025. How do community banks access liquidity during funding stress events? Finance Research Letters, 80, 107338
Herb, Patrick and Farooq Malik. 2023. Re-examining the impact of oil prices on stock returns in the presence of time-varying volatility. Journal of Economics and Finance, 47, 815-843
Working Papers¶
Do Risk Premia Explain Dealer Markups in Municipal Bond Offerings? (w/Daniel Bergstresser)
R+R: Journal of Banking and Finance
“The Puzzle of Overpriced European Treasury Auctions”
w/ Jose Costa, Jose Faias and Mark Wu
“Empirical Evidence for Carry Trade Liquidity Spirals”
“Why Do Pension Funds Underperform in Treasury Auctions?”
w/ Yaxuan Wen
Book Chapters¶
“Bond Auctions” (with Shishir Paudel and Mark Wu) in:
Debt Markets and Investments,
Oxford University Press, 2019