ALEXI SAVOV
Professor of Finance
New York University Stern School of Business
ALEXI SAVOV
Professor of Finance
New York University Stern School of Business
Research areas:
Macro finance, financial intermediation, monetary policy, asset pricing
Notes on the 2023 regional banking crisis:
1. Banks and Interest Rates (slides from NYU Stern panel)
2. Why do banks invest in MBS?
3. Valuing the deposit franchise
4. Banking on deposits: a numerical example
5. SVB and Beyond: The Banking Stress of 2023 (NYU Stern e-book)
Working papers:
Banking on Uninsured Deposits (BibTeX)
(with Itamar Drechsler, Philipp Schnabl, and Olivier Wang)
- Revise and Resubmit, Journal of Finance
- April 2023
Credit Crunches and the Great Stagflation (BibTeX)
(with Itamar Drechsler and Philipp Schnabl)
- Revise and Resubmit, Quarterly Journal of Economics
- May 2022
- Slides
The Financial Origins of the Rise and Fall of American Inflation (BibTeX)
(with Itamar Drechsler and Philipp Schnabl)
- February 2020
- Slides
Liquidity and Volatility (BibTeX)
(with Itamar Drechsler and Alan Moreira)
- Revise and Resubmit, Journal of Financial Economics
- September 2021
- Slides
Publications:
How Monetary Policy Shaped the Housing Boom (BibTeX)
(with Itamar Drechsler and Philipp Schnabl)
- Journal of Financial Economics 144 (3), June 2022, 992-1021
- June 2021
Banking on Deposits: Maturity Transformation without Interest Rate Risk (BibTeX)
(with Itamar Drechsler and Philipp Schnabl)
- Journal of Finance 76 (3), June 2021, 1091-1143
- Brattle Group Prize (Distinguished Paper)
- WFA Best Paper Award in Financial Intermediations
- Yuki Arai Faculty Research Prize in Finance, NYU Stern
- Slides
- Data
Liquidity, Risk Premia, and the Financial Transmission of Monetary Policy (BibTeX)
(with Itamar Drechsler and Philipp Schnabl)
- Annual Review of Financial Economics 10, November 2018, 309-328
A Model of Monetary Policy and Risk Premia (BibTeX)
(with Itamar Drechsler and Philipp Schnabl)
- Journal of Finance 73 (1), February 2018, 317-373
- Amundi Pioneer Prize (Distinguished Paper)
- Slides
The Macroeconomics of Shadow Banking (BibTeX)
(with Alan Moreira)
- Journal of Finance 72 (6), December 2017, 2381–2432
- Lead article
- Slides
The Deposits Channel of Monetary Policy (BibTeX)
(with Itamar Drechsler and Philipp Schnabl)
- Quarterly Journal of Economics 132 (4), November 2017, 1819-1876
- SFS Cavalcade Best Paper Prize in Corporate Finance
- Glucksman Institute Research Prize for Best Paper in Finance, NYU Stern
- Slides
- Data
- Note on Begenau and Stafford (2022)
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
The Puzzle of Index Option Returns (BibTeX)
(with George Constantinides and Jens Jackwerth)
- Review of Asset Pricing Studies 3 (2), June 2013, 229-257
Asset Pricing with Garbage (BibTeX)
- Journal of Finance 66 (1), January 2011, 177-201
- Smith Breeden Prize (Distinguished Paper)