Working Papers

Under Review or Revision

Dollar Reserves and U.S. Yields: Identifying the Price Impact of Official Flows (with Rashad Ahmed), Revise and Resubmit, Journal of International Economics.

Estimating Models with Financial Crisis: An Endogenous Regime Switching Approach (with G. Benigno, A. Forester, C. Otrok), Revise and Resubmit, Quantitative Economics (Code Available on Request)

COVID-19 Stay-Home Orders: Direct and Spillover Effects from Staggered U.S. County Adoption (with V. Elenev, L. Quintero, A. Rebucci, E. Simeonova), Revise and Resubmit, Management Science.

COVID-19 Impact on the Financial Stability of Hospitals (with Ge Bai, Phil Phan, Luis Quintero, and Xian Sun), Revise and Resubmit, Journal of Finacial Stability.

Manuscripts

China’s Increasing Global Financial Impact (with C. Ma and S. Zhou).

Portfolio Flows and House Prices (with D. te Kaat, C. Ma).

A Housing Portfolio Channel of QE Transmission (with D. Boddin, D. te Kaat, C. Ma).

Technology Adoption, Market Structure, and the Cost of Bank Intermediation (with G. De Nicolo’, A. Presbitero and G. Zhang).

Work in Progress

On Optimal Time-consistent Macroprudential Policy in Small Open Economies (with G. Benigno, E. Young, and A. Zaretski).

The Great Depression and the Great Recession: A Quantitative Comparison (with A. Foerster, S. Noh, and C. Otrok).

Permanent Working Papers

Monetary and Macro-Prudential Policies: An Integrated Analysis (with G. Benigno, H. Chen, C. Otrok, and E. R. Young), paper prepared for the 2011 IMF ARC Conference.

Oil Price Dynamics and External Portfolio Adjustment (with M. Devereux and A. Sutherland), manuscript.

Monetary Rules for Emerging Market Economies (with Fabio Ghironi), Working Paper, 2002.