Associate Professor of Finance

New York University Stern School of Business

Curriculum Vitae    Google Scholar


Research areas:

Macro finance, financial stability, monetary policy, empirical asset pricing

Working papers:

Banking on Deposits: Maturity Transformation without Interest Rate Risk (BibTeX) - March 2017 (with Itamar Drechsler and Philipp Schnabl)


The Deposits Channel of Monetary Policy (BibTeX) - December 2016

(with Itamar Drechsler and Philipp Schnabl)

   - Quarterly Journal of Economics, forthcoming

   - Winner, 2015 SFS Cavalcade Best Paper Prize in Corporate Finance

   - Winner, 2016 Glucksman Institute Research Prize for best paper in finance at NYU Stern

The Macroeconomics of Shadow Banking (BibTeX) - April 2016

(with Alan Moreira)

   - The Journal of Finance, forthcoming

   - Online Appendix

   - Slides

A Model of Monetary Policy and Risk Premia (BibTeX) - August 2015

(with Itamar Drechsler and Philipp Schnabl)

   - The Journal of Finance, forthcoming

   - Slides

Have Financial Markets Become More Informative? (BibTeX)

(with Jennie Bai and Thomas Philippon)

   - Journal of Financial Economics 122 (3), December 2016, 625-654

The Price of Skill: Performance Evaluation by Households (BibTeX)

   - Journal of Financial Economics 112 (2), May 2014, 213-231

   - Online appendix

Asset Pricing with Garbage (BibTeX)

   - The Journal of Finance 66 (1), January 2011, 177-201

   - Winner, 2011 Smith Breeden Prize (Distinguished Paper)

   - Online appendix

   - Wall Street Journal article

The Puzzle of Index Option Returns (BibTeX)

(with George Constantinides and Jens Jackwerth)

   - Review of Asset Pricing Studies 3 (2), June 2013, 229-257

   - Online appendix

   - Option portfolio data