Journal Publications
'Understanding International Prices: customers as Capital', with Lukasz A. Drozd, American Economic Review 102(1), 2012.
Additional links: Appendix, Supporting Files
'Uncertainty as Commitment', with Guillermo Ordoñez. Journal of Monetary Economics 80, June 2016.
Additional links: Appendix.
'Investor Sophistication and Capital Income Inequality', with Marcin Kacperczyk and Luminita Stevens. Journal of Monetary Economics 107, 2019.
Additional file: Appendix
Press: Bloomberg View
'The Trade-Comovement Puzzle', with Lukasz A. Drozd and Sergey Kolbin. AEJ: Macroeconomics, 2021.
Additional links: Appendix Replication files
'Credit Growth and the Financial Crisis: A New Narrative', with Stefania Albanesi, Giacomo DeGiorgi, 2022. Accepted, Journal of Monetary Economics.
Here are slides of our most recent presentation.
Press: Bloomberg Markets Quartz derStandard (in German) Livemint
Additional links: Appendix, Supporting Files
'Uncertainty as Commitment', with Guillermo Ordoñez. Journal of Monetary Economics 80, June 2016.
Additional links: Appendix.
'Investor Sophistication and Capital Income Inequality', with Marcin Kacperczyk and Luminita Stevens. Journal of Monetary Economics 107, 2019.
Additional file: Appendix
Press: Bloomberg View
'The Trade-Comovement Puzzle', with Lukasz A. Drozd and Sergey Kolbin. AEJ: Macroeconomics, 2021.
Additional links: Appendix Replication files
'Credit Growth and the Financial Crisis: A New Narrative', with Stefania Albanesi, Giacomo DeGiorgi, 2022. Accepted, Journal of Monetary Economics.
Here are slides of our most recent presentation.
Press: Bloomberg Markets Quartz derStandard (in German) Livemint
Work In Progress
'Maybe Some People Shouldn't Own (3) Homes, with Chris Foote, Lara Loewenstein and Paul Willen.
Here are the slides.
'Born to be (sub)Prime', with Helena Bach, Pietro Campa, Giacomo De Giorgi and Davide Pietrobon.
Here are the slides.
'Born to be (sub)Prime', with Helena Bach, Pietro Campa, Giacomo De Giorgi and Davide Pietrobon.
Working Papers
'Global Volatility and Firm-Level Capital Flows', with Marcin Kacperczyk and Tianyu Wang, 2022.
'Market Power in Credit Markets', with Manolis Galenianos and Tzuo Law, 2021.
'Market Power and Price Informativeness', with Marcin Kacperczyk and Savitar Sundaresan, 2022. Resubmitted, Review of Economic Studies.
'Pricing-to-Market in Business Cycle Models', with Lukasz A. Drozd, this version: 2022. Reject and Resubmit, Review of Economic Dynamics.
'Insolvency after the 2005 Bankruptcy Reform', with Stefania Albanesi, 2022. Revise and Resubmit, Journal of Law, Economics and Organization.
Additional file: Appendix
Press: NY Fed Liberty Street Economics The Economist The Wall Street Journal
'Competing for Customers: A Search Model of the Market for Unsecured Credit', with Lukasz A. Drozd.
'Market Power in Credit Markets', with Manolis Galenianos and Tzuo Law, 2021.
'Market Power and Price Informativeness', with Marcin Kacperczyk and Savitar Sundaresan, 2022. Resubmitted, Review of Economic Studies.
'Pricing-to-Market in Business Cycle Models', with Lukasz A. Drozd, this version: 2022. Reject and Resubmit, Review of Economic Dynamics.
'Insolvency after the 2005 Bankruptcy Reform', with Stefania Albanesi, 2022. Revise and Resubmit, Journal of Law, Economics and Organization.
Additional file: Appendix
Press: NY Fed Liberty Street Economics The Economist The Wall Street Journal
'Competing for Customers: A Search Model of the Market for Unsecured Credit', with Lukasz A. Drozd.
Other
'The Nontradable Goods' Real Exchange Rate Puzzle', with Lukasz A. Drozd, NBER International Seminar on Macroeconomics 2009.
'Personal Bankruptcy in the US: Effects of the 2005 Reform', with Stefania Albanesi, CESifo DICE Report, 4/2015 (Winter).
'Credit Growth and the Financial Crisis: A New Narrative', with Stefania Albanesi and Giacomo De Giorgi, VoxEU, CEPR Policy Portal, October 2017.
'Personal Bankruptcy in the US: Effects of the 2005 Reform', with Stefania Albanesi, CESifo DICE Report, 4/2015 (Winter).
'Credit Growth and the Financial Crisis: A New Narrative', with Stefania Albanesi and Giacomo De Giorgi, VoxEU, CEPR Policy Portal, October 2017.