(In)dependent Central Banks, joint work with Sotirios Kokas, Thomas Lambert, and Alex Michaelides. -- Journal of Financial Economics, revise and resubmit.
This study shows that institutional reforms to improve central bank independence are not followed by more independent central bank governor appointments-- if anything, governor appointments have become more political as central bank operational independence increased.
Presented: NBER SI, Boston July 10, 2024
Media: VOX column; The Banker; Financial Times
China's Savings Glut and Investors Hunt for Safe Assets, joint work with Angela Gallo and Nicole Gao.
This study shows that part of the surge in the popularity of wealth management products (WMPs) in China in recent years, aimed to meet the Chinese retail investors’ excess demand for safe assets. We find that government guarantees enable the production of private safe assets by the banking sector.
Presented: Barcelona Summer Forum, June 10 2024
Graduating from Group to Individual Loans, with the Help of Personal Guarantees , with Sheng Li, Mrinal Mishra, and Steven Ongena.
''Insolvency Reform and Credit Reallocation'', with Bo Becker, Larissa Schäfer, and Nils Wehrhöfer.
"Cyber Security Investment of Firms: Theory and Evidence", Emina Ademovic, Toni Ahnert, Michael Brolley, David Cimon, Thomas Mosk, and Ryan Riordan.