Education
B.A. Yale University
M.A. Yale University
M.Phil. Yale University
Ph.D. 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
Courses
Note: courses in gray are not offered this academic year.
Research and Teaching Fields
Macroeconomics, General Equilibrium, Financial Theory, Economic Theory, International Finance
Published and Forthcoming Articles
- “Securitized Markets, International Capital Flows, and Global Welfare” (with Alexis Akira Toda) accepted at Journal of Financial Economics
- “Correlated Default and Financial Intermediation“, 2017, Journal of Finance, June 72:3, pp. 1253–1284
- “Collateralized Borrowing and Increasing Risk“, 2017, Economic Theory, 63(2), pp. 471 — 502.
- “Financial Intermediation, Leverage, and Macroeconomic Instability“, 2016, American Economic Journal: Macroeconomics, 8(4): 199-224
- “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)
- “Cournot Fire Sales” (with Thomas Eisenbach) (Feb 2018)
- “Debt Collateralization, Capital Structure, and Maximal Leverage” (with Feixue Gong*)
- “Global Collateral: How Financial Innovation Drives Capitals Flows and Increases Financial Instability” (with Ana Fostel and John Geanakoplos)
- “Debt Collateralization, Structured Finance, and the CDS Basis” (with Feixue Gong*)
- “Dimensionality and Disagreement: Asymptotic belief divergence in response to common information” (with Isaac Loh*)
- “International Coordination of Macroprudential Policies with Capital Flows and Financial Asymmetries (with William Chen*)
- “Dynamic Consequences of Monetary Policy for Financial Stability” (with William Chen*)
Work in Progress
- “Collateralized Carry Trades and Exchange Rate Risk” (joint with Ana Fostel and Feixue Gong*)
- “Leverage regulation can increase fat tails” (joint with Ana Fostel and John Geanakoplos)
- “Estimating a Continuous-Time DSGE Model” (with William Chen* and Marco Del Negro)
- “Liquidity Provision and Financial Stability”
- “Macroprudential Policy Spillovers in Open Economies” (with William Chen*)
Previous Employment
D. E. Shaw, LLC, Proprietary Trader, 2007-2009