Discussion of Tobias Adrian, Christopher Erceg, Marcin Kolasa, Jesper Lindé, and Pawel Zabczyk
"Macroeconomic and Fiscal Consequences of Quantitative Easing"
Presented at the NBER Summer Institute, joint session ME-IFM-MEMF, 2025
[Slides]
Discussion of Falk Bräuning and Hillary Stein
"The Effect of Primary Dealer Constraints on Intermediation in the Treasury Market"
Presented at the Macro-Finance Conference, Board of Governors of the Federal Reserve System, 2025
[Slides]. [Mathematica Notebook]
Discussion of Pierre De Leo, Lorena Keller, Giuliano Simoncelli, Mauricio Villamizar Villegas, Tomas Williams
"Global Investors in Local-Currency Bond Markets: Implications for Bond Yields and Exchange Rates"
Presented at the West Coast Workshop in International Finance, 2025
[Slides]
Discussion of Adrien d'Avernas, Antoine Hubert de Fraisse, Liming Ning, and Quentin Vandeweyer:
"How Large is Too Large? A Risk-Benefit Framework for Quantitative Easing"
Presented at the USC Macro Finance Conference, 2025
Winner of the best discussant award
[Slides]
Discussion of Brent Bundick, Logan Hotz, and A. Lee Smith:
"How Optimal Was U.S. Monetary Policy at the Zero Lower Bound"
Presented at the BoC-FRBC-FRBSF Fixed Income Conference, 2024
[Slides]
Discussion of Viral V. Acharya, Rahul S. Chauhan, Raghuram Rajan, and Sascha Steffen:
"Liquidity Dependence and the Waxing and Waning of Central Bank Balance Sheets"
Presented at the NBER Monetary Economics Fall Meeting, 2023
[Slides]
Discussion of Xiang Fang, Sining Liu, and Yang Liu:
"Currency Risk under Capital Controls"
Presented at the Western Finance Association Meeting, 2023
[Slides]
Discussion of Magnus Dahlquist, Christian Heyerdahl, Anna Pavlova, Julien Pénasse:
"International Capital Markets and Wealth Transfers"
Presented at the Eagle Labs Conference in Herzliya, 2023
[Slides]
Discussion of Thomas B. King:
"Real Yields and the Transmission of Central Bank Balance-Sheet Policies"
Presented at the System Macro Meeting, 2021
[Slides]
Discussion of Viral V. Acharya, Ryan Banerjee, Matteo Crosignani, Tim Eisert, and Renée Spigt:
"Exorbitant Privilege? The Bond Market Subsidy of Prospective Fallen Angels"
Presented at the Conference on Financial Stability Considerations for Monetary Policy, 2021
[Slides]
Discussion of Alyssa Anderson, Wenxin Du, and Bernd Schlusche:
"Arbitrage Capital and Global Banks"
Presented at the Western Finance Association, 2020
[Slides]
Discussion of Ravi Bansal, Dana Kiku, and Marcelo Ochoa:
"Climate Change Risk"
Presented at the The Economics of Climate Change, FRBSF, 2019
[Slides]
Discussion of Axelle Ferriere and Gaston Navarro:
"The Heterogeneous Effect of Government Spending"
Presented at the Fed System Macro Meeting 2018
[Slides]
Discussion of Colin Caines and Fabian Winkler:
"Asset Price Learning and Optimal Monetary Policy"
Presented at the Fed System Macro Meeting 2017
[Slides]
Discussion of YiLi Chien, Hanno Lustig, and Kanda Naknoi:
"Why Are Exchange Rates So Smooth"
Presented at the European Finance Association Meeting 2018
[Slides]
Discussion of Piotr Denderski and Christian A. Stoltenberg:
"On the Positive Value of Information in Risk Sharing"
Presented at the Cologne Macroeconomics Workshop, October 2014, Cologne, Germany
[Slides]
Discussion of Charles-Henri Weymuller:
"Banks as Safety Multipliers: A Theory of Safe Assets Creation"
Presented at the LBS Safe Assets Conference, June 2014, London, UK
Discussion of Michael Sockin and Wei Xiong:
"Informational Frictions and Commodity Markets"
Presented at the ASSA Meetings, January 2014, Philadelphia, PA
[Slides]
Discussion of Pierre Collin-Dufresne, Michael Johannes, and Lars Lochstoer:
"Parameter Learning in General Equilibrium: The Asset Pricing Implications"
Presented at the Western Finance Association Meeting, June 2013, Lake Tahoe, CA
[Slides]
Discussion of Ben Lockwood:
"How should Financial Intermediation Services be Taxed?"
Presented at the Vanderbilt Taxation Theory Conference, May 2012, Nashville, TN
[Slides]
Discussion of Giacomo Rondina and Todd Walker:
"Information Equilibria in Dynamic Economies with Dispersed Information"
Presented at the ASSA Meetings, January 2012, Chicago, IL
[Slides]
Discussion of Piero Gottardi and Felix Kubler
"Dynamic General Equilibrium with Complete Markets and Collateral"
Presented at the Conference in Memory of Lionel McKenzie, March 2011, Rochester, NY
Discussion of Fan Yang:
"Investment Shocks, Capacity Constraints, and the Commodity Basis Spread"
Presented at the FMA Doctoral Meeting, October 2010, New York, NY
[Slides]