A Quantitative Theory of the Credit Score

Econometrica, Vol. 91, No. 5 (September 2023), pp. 1803-1840

with Satyajit Chatterjee, Dean Corbae, and Jose-Victor Rios-Rull

Online Appendix   Additional Materials   NBER Working Paper

Capital Requirements with Non-Bank Finance

Review of Economic Studies (accepted January 2025)

ECB Working Paper   Duke School of Law FinReg Blog Post  winner, ECB Lamfalussy Fellowship

A Quantitative Analysis of Bank Lending Relationships

Journal of Financial Economics , Vol. 170 (August 2025)

with Miguel Faria-e-Castro   Slides

Default Risk and Pricing in the U.S. Credit Card Market

JPE: Macro (accepted April 2025)

with Felicia Ionescu (original version: Borrowing Premia in Unsecured Credit Markets)

Credit Scores and Inequality Across the Life Cycle

prepared for 2025 NBER Macro Annual

with Satyajit Chatterjee, Dean Corbae, and Jose-Victor Rios-Rull

Replication package

Saving for a Sunny Day: An Alternative Theory of Precautionary Savings

(June 2023, updated draft coming soon)

with Luigi-Maria Briglia, Satyajit Chatterjee, Dean Corbae, and Jose-Victor Rios-Rull

Financial Stability with Lending Relationships

(May 2024, very preliminary)

with Miguel Faria-e-Castro

What are Bank Lending Standards?

(coming soon)

with David Glancy and Felicia Ionescu

Who are the Credit Revolvers? An Empirical and Theoretical Investigation

(coming soon)

with Felicia Ionescu and Gajendran Raveendranathan