PUBLICATIONS

[16] "Sudden Stops and Optimal Policy in a Two-agent Economy", with Nina Biljanovska, 

Journal of International Economics

[15] "Optimal Bank Regulation in the Presence of Credit and Run Risk", with Anil Kashyap and Dimitrios Tsomocos, 

Journal of Political Economy

[14] "Financial Stability Implications of Digital Assets", with P. Azar, G. Baughman, F. Carapella, J. Gerszten, A. Lubis, JP Perez-Sangimino, D. Rappoport, C. Scotti, N. Swem, A. Werman, 

Economic Policy Review 

[13] "A Macroprudential Perspective on the Regulatory Boundaries of US Financial Assets", with Arseneau, Brang, Darst, Faber, and Rappoport, 

Journal of Financial  Crises

[12] "Collateral Runs", with Sebastian Infante,  

Review of Financial Studies 

[11] "Private and Public Liquidity in OTC markets", with David Arseneau and David Rappoport, 

Theoretical Economics  

[10] "Capital taxation with heterogeneous discounting and collateralized borrowing", with Nina Biljanovska, 

Journal of  Macroeconomics  

[9] "On Default and Uniqueness of Monetary Equilibria", with Li Lin and Dimitrios P. Tsomocos, 

Economic Theory 

[8] "Debt deflation effects of Monetary Policy", with Li Lin and Dimitrios P. Tsomocos, 

Journal of Financial Stability 

[7] "A Reconsideration of Minsky's Financial Instability Hypothesis", (with S. Bhattacharya, CAE Goodhart and D.P. Tsomocos), 

Journal of Money, Credit and Banking  

[6] "Capital Regulation in a Macroeconomic Model with Three Layers of Default", with Laurent Clerc, Alexis Derviz, Caterina Mendicino, Stephane Moyen, Kalin Nikolov, Livio Stracca and Javier Suarez, 

International Journal of Central Banking

[5] "Collateral and the Efficiency of Monetary Policy", with Udara Peiris, 

Economic Theory

[4] "Savings and Default", with Udara Peiris, 

Economic Theory

[3] "An Integrated Framework for Analyzing Multiple Financial Regulations",  with Charles Goodhart, Anil K Kashyap and Dimitrios Tsomocos, 

International Journal of Central Banking

[2] "On dividend restrictions and the collapse of the interbank market", with Charles A.E. Goodhart, Udara Peiris and Dimitrios P. Tsomocos, 

Annals of Finance 

[1] "Modeling a Housing and Mortgage Crisis", with Charles A.E. Goodhart and Dimitrios P. Tsomocos,  

in Financial Stability, Monetary Policy, and Central Banking, edited by Rodrigo A. Alfaro. Central Bank of Chile

BOOK CHAPTERS

"Liquidity, Default and the Interaction of Financial Stability and Monetary Policy" (with U. Peiris and A. Vardoulakis), in The Changing Fortunes of Central Banking. Edited by P. Hartmann, H, Huang and D. Schoenmaker. Cambridge University Press, Cambridge, 2018.

"Ex-ante Securitization versus Ex-post Fire-sales under various Policy Interventions ", in Shadow Banking Within and Across National Borders, edited by Stijn Claessens, Douglas Evanoff, Goerge Kaufman and Luc Laeven, World Scientific Studies in International Economics. Volume 40, World Scientific 2015

PERMANENT WORKING PAPERS

"How does macroprudential regulation change bank credit supply?", with Anil Kashyap and Dimitri Tsomocos, NBER WP No. 20165

"Financial Regulation in General Equilibrium," with Charles Goodhart, Anil Kashyap and Dimitri Tsomocos, NBER Working Paper No. 17909

"The Non-bank Credit Cycle", with Esti Kemp, Rene van Stralen, and Peter Wierts. FEDS WP 2018-076   [Slides]

"Strategic Bidding and IPO Underpricing"

"Credit Standards and Financial Institutions Leverage", with Gilles Dufrenot, Benjamin Klaus and Sheheryar Malik

OTHER

"Macroprudential Policy: Results from a Tabletop Exercise", with Denise Duffy, Joseph G. Haubrich, Anna Kovner, Alex Musatov, Edward S. Prescott, Richard Rosen, Thomas D. Tallarini, Emily Yang, and Andrei Zlate, FRB of Cleveland Working Paper No. 19-11

"Balancing Banking Regulation to Deal with Risky Lending and Runs", with Anil K Kashyap and Dimitrios P. Tsomocos, Banking Perspectives 2019

"Macroprudentialism-A new Vox eBook", download PDF

"Making Macroprudential Regulation Operational", with Anil K Kashyap and Dimitrios P. Tsomocos, voxeu.org

"Principles for macroprudential regulation", with Anil K Kashyap and Dimitrios P. Tsomocos, Banque de France Financial Stability Review No. 18, 2014, pp. 173-181

"Macroprudential capital tools: assessing their rationale and effectiveness", with Laurent Clerc, Alexis Derviz, Caterina Mendicino, Stephane Moyen, Kalin Nikolov, Livio Stracca and Javier Suarez, Banque de France Financial Stability Review No. 18, 2014, pp. 183-193

"Dividend Restrictions as Macroprudential Regulation", with Charles A.E. Goodhart, Udara Peiris and Dimitrios P. Tsomocos, voxeu.org

"Foreclosures, Monetary Policy and Financial Stability", with Charles A.E. Goodhart and Dimitrios P. Tsomocos, Conference Porceedings of the 10th International Academic Conference on Economic and Social Development, Moscow, 2009