Publications
"Optimal Bank Regulation and Fiscal Capacity", Review of Economic Studies, Volume 87, Issue 2, (2020), Pages 1034–1089
"The Dollar During the Great Recession: The Information Channel of US Monetary Policy and the Flight to Safety", forthcoming Journal of Finance, (2024) , joint with Jenny Tang (Boston Fed)
"A Fundamental Connection: Exchange Rates and Macroeconomic Expectations", Review of Economics and Statistics, (2024), October 1–49, https://doi.org/10.1162/rest_a_01520, joint with Jenny Tang (Boston Fed)
“Explaining the Great Moderation Exchange Rate Volatility Puzzle”, IMF Economic Review (2024), September, https://doi.org/10.1057/s41308-024-00264-9, joint with Jenny Tang (Boston Fed)
Download (Older Working Paper Version: Download)
Coming Soon
"Stock Markets and Macro News: The Power of Context" joint with Jenny Tang (Boston Fed)
“The Importance of Asset Managers in Currency Derivatives Markets” joint with Daniel Ostry (BOE), Adrien Rousset Planat (LBS), Helene Rey (LBS)
Working Papers
“Topography of the FX Derivatives Market: a View From London” (2024) joint with Sinem Hacioglu-Hoke (Federal Reserve Board), Daniel Ostry (BOE), Adrien Rousset Planat (LBS), Helene Rey (LBS), Jenny Tang (Boston Fed) [NEW]
"Elephants in Equity Markets" Revise and Resubmit Journal of Finance, (2024), joint with Adrien Rousset Planat (LBS), Helene Rey (LBS), Jenny Tang (Boston Fed) [NEW]
"Currency Centrality in Equity Markets, Exchange Rates and Global Financial Cycles" (2024), joint with Helene Rey (LBS) [NEW]
"Individual Beliefs, Demand for Currency and Exchange Rate Dynamics " known before as "Deviations from FIRE and Exchange Rates: a GE Theory of Supply and Demand" (2020), joint with Jenny Tang (Boston Fed)
“Answering the Queen: Machine Learning and Financial Crises ” (2023), joint with Hélène Rey (LBS), Michael Howell (CrossBorder Capital ) and Jérémy Fouliard (LBS)
“Is This Time Different? Financial Follies Across Centuries” (2022), joint with Hélène Rey (LBS) and Jérémy Fouliard (LBS), Draft Available Upon Request
"The Continuing Puzzle of Short Horizon Exchange Rate Forecasting", NBER Working paper (2008), joint with Kenneth Rogoff (Harvard)
Inactive Working Papers
"Exchange Rates and Monetary Policy" (2015 ), joint with Jenny Tang (Boston Fed)