Working Papers

A Quantity-Driven Theory of Term Premiums and Exchange Rates (with Robin Greenwood, Samuel G. Hanson, and Adi Sunderam) November, 2019.

Banking, Trade, and the Making of a Dominant Currency (with Gita Gopinath) November 2017; revised March, 2018; revised February 2020.

The Decline of Big-Bank Lending to Small Business: Dynamic Impacts on Local Credit and Labor Markets (with Brian S. Chen and Samuel G. Hanson) March 2017, revised September 2017.

The Financial Regulatory Reform Agenda in 2017 (with Robin Greenwood, Samuel G. Hanson and Adi Sunderam) Feburary 2017.

An Analysis of the Impact of "Substantially Heightened" Capital Requirements on Large Financial Institutions (with Anil k Kashyap and Samuel Hanson) Harvard working paper.

Do Hedge Funds Profit from Mutual-Fund Distress? (with Joseph Chen, Samuel Hanson, and Harrison Hong) NBER working paper #13786.