Associate Professor of Finance, University of Alberta

Francis Winspear Professor of Business

Curriculum Vitae

Research

Published and Forthcoming Papers

• Commodity Trade and the Carry Trade: A Tale of Two Countries, with Rob Ready and Nick Roussanov, Journal of Finance, 2017, 72(6), 2629—2684

  • 2016 Jacobs Levy Center Research Paper Prize for Best Paper

  • 2015 AQR Insight Award, Winner

  • 2014 Utah Winter Finance Conference, Best Paper Prize

• After the Tide: Commodity Currencies and Global Trade, with Rob Ready and Nick Roussanov, Journal of Monetary Economics, 2017, 85, 69—86

• Is the IT Revolution Over?  An Asset Pricing View, Journal of Monetary Economics, 2020, 114, 283—316

• International Trade and the Risk in Bilateral Exchange Rates, with Ramin Hassan, Erik Loualiche, and Alexandre R. Pecora, Journal of Financial Economics, 2023, 150(2)

• Appropriated Growth, with Yuchen Chen, Xuelin Li, and Richard T. Thakor, Journal of Financial Economics, 2026, 176

• Monetary Policy Transmission through the Exchange Rate Factor Structure, with Erik Loualiche, Alexandre R. Pecora, and Fabricius Somogyi, Journal of Financial Economics, Forthcoming

Working Papers

• Agency in Intangibles, R&R, Review of Financial Studies

• Financial Gravity in Foreign Exchange, with Erik Loualiche, Alexandre R. Pecora, and Fabricius Somogyi

• The Real Cost of FX Hedging, with Jay Hyun and Goli Omidali

• Inward Betas, with Erik Loualiche and Fabricius Somogyi

• The Visible Hand: Managerial Allocation and Business Productivity, with Yuchen Chen

Other Papers

• A Model of Market Discipline, with Chao Ying

• Understanding the Behavior of Distressed Stocks, with Yasser Boualam and João Gomes

  • 2017 WFA QMA Award for Best Paper on Investment Management

• Shifts in Sectoral Wealth Shares and Risk Premia: What Explains Them?, with Ravi Bansal and Amir Yaron

• Is the Share of the NYSE/AMEX/NASDAQ Going to Zero?, with Amir Yaron

Teaching

• University of Alberta

  • Fixed Income, Undergraduate and MBA, 2025—

  • Quantitative Finance, PhD, 2026—

• University of Minnesota

  • Financial Markets and Interest Rates, Undergraduate and MBA, 2014—2024

  • Financial Econometrics and Computational Methods, Undergraduate and Masters, 2016—2024

Updated April 2026