Research Page

I am an Adviser at the Bank of England. I worked at the IMF, Bank of Hungary and HM Treasury previously. I studied Economics at Cardiff (MSc), Cambridge (PhD) and Princeton (Visiting), and Mathematics at King's College London (Diploma). As for my hobbies, I am an international chess master, and enjoy writing piano songs

I am director of the CCBS-MacCaLM macro-finance research workshop.

Research Interests: Macroeconomics, Applied Econometrics, Macro Finance

Papers in revision process:

   "Home Values and Firm Behaviour(with Saleem Bahaj and Angus Foulis)
        CfM Discussion Paper, presented at 2016 ESSIM, 2016 SED Toulouse, Submitted
        Early version was circulated as the "The Residential Collateral Channel"

        CfM Discussion Paper, 2016; presented at the 2017 ASSA Meeting, Chicago, Submitted


         Economic Journal (Accepted); Link to WSJ coverage, Link to Bank Underground post 

        Journal of Money, Credit and Banking, 2017
        Winner of the Best Student Paper Award, Cambridge Finance, 2012; Link to Vox

   "Do Contractionary Monetary Policy Shocks Expand Shadow Banking?" (with Ben Nelson and Kostas Theodoridis)
        Journal of Applied Econometrics, 2017Link to WSJ; Link to Vox; Link to World Economic Forum

   "What do VARs tell us about the impact of a credit supply shock?" (with Haroon Mumtaz and Kostas Theodoridis)
        International Economic Review (Forthcoming), (Technical Appendix)
   "Forecasting with VAR Models: Fat tails and Stochastic Volatility" (with Jeremy Chiu and Haroon Mumtaz)
         International Journal of Forecasting, 2017
Work in progress:

   "Monetary Policy and the Firm: Some Empirical Evidence(with Saleem Bahaj and Angus Foulis)
        Presented at the 2017 RES Conference (Bristol), CCBS Chief Economist's Workshop, BoE Macro-finance Workshop

   "Collateral Channels and Banking Relationships(with Gareth Anderson, Matthieu Chavaz, Saleem Bahaj and Angus Foulis)
        Presented at the 2016 Econometric Society Winter Meeting

   "Monetary Policy and Systemic Risk"

   "Productive and Unproductive Leverage(with Saleem Bahaj, Angus Foulis and Peter N Gal)

Other Papers:

   "Monetary Transmission Mechanism in the East African Community: An Empirical Investigation" (with H Davoodi and S Dixit) IMF Working Paper 13/39, 2013

   "Macroprudential Capital Regulation in General Equilibrium", (with Ben Nelson) (Revised version)
        Bank of England, 2013;
   "VAR Models with Non-Gaussian Shocks(with Jeremy Chiu and Haroon Mumtaz)
         CfM Discussion Paper, 2016

   "Risk News Shocks and the Business Cycle" (with Kostas Theodoridis and Tony Yates)
        Bank of England, 2013, R&R, Journal of Banking and Finance