Greg Phelan

Greg Phelan

Assistant Professor of Economics

Schapiro Hall Rm 314


B.A. Yale University
M.A. Yale University
M.Phil. Yale University
Ph.D. Yale University

Areas of Expertise

  • Macroeconomics
  • Financial Theory
  • Economic Theory
  • International Finance
  • General Equilibrium

Research and Teaching Fields

Macroeconomics, General Equilibrium, Financial Theory, Economic Theory, International Finance

Published and Forthcoming Articles

  1. Dimensionality and Disagreement: Asymptotic belief divergence in response to common information” (with Isaac Loh*), 2019, accepted by International Economic Review
  2. Securitized Markets, International Capital Flows, and Global Welfare” (with Alexis Akira Toda), Journal of Financial Economics,  Volume 131, Issue 3, March 2019, Pages 571-592
  3. Correlated Default and Financial Intermediation“, 2017, Journal of Finance, June 72:3, pp. 1253–1284
  4. Collateralized Borrowing and Increasing Risk“, 2017, Economic Theory, 63(2), pp. 471 — 502.
  5. Financial Intermediation, Leverage, and Macroeconomic Instability“, 2016, American Economic Journal: Macroeconomics8(4): 199-224
  6. Hyperbolic Discounting and Life Cycle Portfolio Choice” (with David Love), 2015, Journal of Pension Economics and Finance, volume 14, issue 04, pp. 492-524  

Working Papers

(* indicate current or past undergraduate students)

  1. Cournot Fire Sales” (with Thomas Eisenbach) (Feb 2018)
  2. Debt Collateralization, Capital Structure, and Maximal Leverage” (with Feixue Gong*)
  3. Global Collateral and Capital Flows” (with Ana Fostel and John Geanakoplos)
  4. Debt Collateralization, Structured Finance, and the CDS Basis” (with Feixue Gong*)
  5. International Coordination of Macroprudential Policies with Capital Flows and Financial Asymmetries (with William Chen*)
  6. Dynamic Consequences of Monetary Policy for Financial Stability” (with William Chen*)

Work in Progress

  1. “Collateralized Carry Trades and Exchange Rate Risk” (joint with Ana Fostel and Feixue Gong*)
  2. “Leverage regulation can increase fat tails” (joint with Ana Fostel and John Geanakoplos)
  3. “Estimating a Continuous-Time DSGE Model” (with William Chen* and Marco Del Negro)
  4. “Liquidity Provision and Financial Stability”
  5. “Macroprudential Policy Spillovers in Open Economies” (with William Chen*)

Previous Employment

D. E. Shaw, LLC, Proprietary Trader, 2007-2009