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About Me
I am an Assistant Professor of Finance at the NYU Stern School of Business. My research is at the intersection of macroeconomics and finance, with special focus on housing and mortgage markets, the links between the stock market and the macroeconomy, and the structure of corporate debt. You can find my research statement here. Working papers and publications can be found below, while the tabs above contain my CV, discussion slides, and teaching materials. Comments and feedback are always welcome. Email: [email protected] Mailing Address: 44 W 4th St, Office 9-79 New York, NY 10012 |
Working Papers
The Mortgage Credit Channel of Macroeconomic Transmission (Updated February 2018; SSRN; Dynare Code)
Revise and Resubmit, Journal of Political Economy
Do Credit Conditions Move House Prices? (Updated February 2024; SSRN, Slides)
with Adam Guren
Revise and Resubmit, American Economic Review
Financial and Total Wealth Inequality with Declining Interest Rates (Updated September 2023, Slides)
with Matteo Leombroni, Hanno Lustig, and Stijn Van Nieuwerburgh
Revise and Resubmit, Review of Economic Studies
Monetary Transmission through Bank Securities Portfolios (Updated October 2023)
with John Krainer and Pascal Paul
Firm Debt Covenants and the Macroeconomy: The Interest Coverage Channel (Updated July 2019; SSRN, Slides)
Managing a Housing Boom (Updated January 2022; Slides)
with Jason Allen
What Explains the COVID-19 Stock Market? (Updated August 2020)
with Josue Cox and Sydney Ludvigson
Revise and Resubmit, Quarterly Journal of Finance
The Mortgage Credit Channel of Macroeconomic Transmission (Updated February 2018; SSRN; Dynare Code)
Revise and Resubmit, Journal of Political Economy
Do Credit Conditions Move House Prices? (Updated February 2024; SSRN, Slides)
with Adam Guren
Revise and Resubmit, American Economic Review
Financial and Total Wealth Inequality with Declining Interest Rates (Updated September 2023, Slides)
with Matteo Leombroni, Hanno Lustig, and Stijn Van Nieuwerburgh
Revise and Resubmit, Review of Economic Studies
Monetary Transmission through Bank Securities Portfolios (Updated October 2023)
with John Krainer and Pascal Paul
Firm Debt Covenants and the Macroeconomy: The Interest Coverage Channel (Updated July 2019; SSRN, Slides)
Managing a Housing Boom (Updated January 2022; Slides)
with Jason Allen
What Explains the COVID-19 Stock Market? (Updated August 2020)
with Josue Cox and Sydney Ludvigson
Revise and Resubmit, Quarterly Journal of Finance
Publications
How the Wealth was Won: Factor Shares as Market Fundamentals (Updated October 2023; Video: Virtual Finance Workshop. Media: Barron's, NY Times)
with Martin Lettau and Sydney Ludvigson
Accepted, Journal of Political Economy
Regulatory Arbitrage or Random Errors? Implications of Race Prediction Algorithms in Fair Lending Analysis (Updated January 2024, Slides)
with Sabrina Howell, Cangyuan Li, and Emmanuel Yimfor
Accepted, Journal of Financial Economics
The Credit Line Channel (Vox EU)
with John Krainer and Pascal Paul
Accepted, Journal of Finance
Financial Fragility with SAM? (Published Version, SSRN; Slides; Non-Technical Summary)
with Tim Landvoigt and Stijn Van Nieuwerburgh
Journal of Finance, Vol. 76(2), pp. 651-1052, December 2020
Rare Shocks, Great Recessions (Published Version, Appendix)
with Vasco Curdia and Marco Del Negro.
Journal of Applied Econometrics, Vol. 29(7), pp. 1031-1052, November/December 2014.
Winner: 2016 Richard Stone Prize, awarded to the best paper with substantive econometric application in the 2014 and 2015 volumes of the Journal of Applied Econometrics.
How the Wealth was Won: Factor Shares as Market Fundamentals (Updated October 2023; Video: Virtual Finance Workshop. Media: Barron's, NY Times)
with Martin Lettau and Sydney Ludvigson
Accepted, Journal of Political Economy
Regulatory Arbitrage or Random Errors? Implications of Race Prediction Algorithms in Fair Lending Analysis (Updated January 2024, Slides)
with Sabrina Howell, Cangyuan Li, and Emmanuel Yimfor
Accepted, Journal of Financial Economics
The Credit Line Channel (Vox EU)
with John Krainer and Pascal Paul
Accepted, Journal of Finance
Financial Fragility with SAM? (Published Version, SSRN; Slides; Non-Technical Summary)
with Tim Landvoigt and Stijn Van Nieuwerburgh
Journal of Finance, Vol. 76(2), pp. 651-1052, December 2020
Rare Shocks, Great Recessions (Published Version, Appendix)
with Vasco Curdia and Marco Del Negro.
Journal of Applied Econometrics, Vol. 29(7), pp. 1031-1052, November/December 2014.
Winner: 2016 Richard Stone Prize, awarded to the best paper with substantive econometric application in the 2014 and 2015 volumes of the Journal of Applied Econometrics.
Inactive/Legacy Papers
Origins of Stock Market Fluctuations (Updated October 2016; VoxEU, MarketWatch; SSRN)
with Martin Lettau and Sydney Ludvigson
Superseded by "How the Wealth was Won: Factor Shares as Market Fundamentals."
Origins of Stock Market Fluctuations (Updated October 2016; VoxEU, MarketWatch; SSRN)
with Martin Lettau and Sydney Ludvigson
Superseded by "How the Wealth was Won: Factor Shares as Market Fundamentals."
Work in Progress
Quantitative Tightening: Challenges of Two-Dimensional Monetary Normalization (Slides)
with Vadim Elenev and Miguel Faria-e-Castro
Quantitative Tightening: Challenges of Two-Dimensional Monetary Normalization (Slides)
with Vadim Elenev and Miguel Faria-e-Castro
Non-Academic Articles
Here’s Why Adding $310 Billion to the Second Round of PPP Won’t Fix It
Marker/Medium, April 23, 2020
A Traditional Economic Stimulus Won't Work. Here's What Might
Marker/Medium, March 24, 2020
Here’s Why Adding $310 Billion to the Second Round of PPP Won’t Fix It
Marker/Medium, April 23, 2020
A Traditional Economic Stimulus Won't Work. Here's What Might
Marker/Medium, March 24, 2020