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. Securitized Markets, International Capital Flows, and Global Welfare” (with Alexis Akira Toda) accepted at Journal of Financial Economics
  2. Correlated Default and Financial Intermediation“, 2017, Journal of Finance, June 72:3, pp. 1253–1284
  3. Collateralized Borrowing and Increasing Risk“, 2017, Economic Theory, 63(2), pp. 471 — 502.
  4. Financial Intermediation, Leverage, and Macroeconomic Instability“, 2016, American Economic Journal: Macroeconomics8(4): 199-224
  5. 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: How Financial Innovation Drives Capitals Flows and Increases Financial Instability” (with Ana Fostel and John Geanakoplos)
  4. Debt Collateralization, Structured Finance, and the CDS Basis” (with Feixue Gong*)
  5. Dimensionality and Disagreement: Asymptotic belief divergence in response to common information” (with Isaac Loh*)
  6. International Coordination of Macroprudential Policies with Capital Flows and Financial Asymmetries (with William Chen*)
  7. 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