CV

Research Interests

Asset Pricing with Financial Intermediaries, Bankruptcy, Empirical Asset Pricing, Climate Finance

Working Paper(s)

Household/Climate

The Marginal Value of Public Pension Wealth: Evidence From Border House Prices with Darren Aiello, Asaf Bernstein, Mahyar Kargar, and Michael Schwert. Revise and Resubmit, JFE.
Presentations: SFS Cavalcade, Red Rock, AFA, FIRS

The Effect of Insurance Premiums on the Housing Market and Climate Risk Expectations with Shan Ge and Ammon Lam
Presentations: SITE, NBER Insurance Workshop, Workshop on Non-Bank Financial Intermediaries

Does Wildfire Smoke Choke Local Business? with Jawad Addoum, Matthew Gustafson, Dimitrios Gounopoulos, and Tam Nguyen
Presentations: WFA, Eastern Finance Association Meetings, Edinburgh World-Class Workshop in Finance, Manchester Conference on ESG and Climate Finance

The Value of Climate Hedge Assets: Evidence from Australian Water Markets
Presentations: SFS Cavalcade, LBS Summer Finance Symposium, the University of Colorado, the Federal Reserve Bank Chicago, the Federal Reserve Board, the Office of Financial Research, Temple, and Lausanne

Asset Pricing

Crowded Ratings: Clientele Driven Supply Shocks in the Corporate Bond Market with Francisco Gomes and Jordan Nickerson. Reject and Resubmit, JFE.
Presentations: FIRS, AFA, WFA SFS Cavalcade

Investor Betas with Shri Santosh and Lorenzo Bretscher
Presentations: EFA, WFA, NBER, UBC Winter, Cavalcade*

Ambiguity and Corporate Yield Spreads with Yud Izhakian and Jaime Zender
Presentations: MFA, Risk Uncertainty and Decision Conference, Fixed Income and Financial Institutions Conference, XXXI Finance Forum

The Effects of Transparency on OTC Market-Making with Michael Schwert
Presetations: SFS Cavalcade, BOE Conference on Market Transparency

Corporate Debt Markets and Recovery Rates with Vulture Investors
Presentations: WFA, FMA, EFA, Blackrock Applied Research Award Finalist, Colorado Winter Finance Summit (PhD paper session)

Same Firm, Different Betas
Presentations: AFA, Colorado Finance Summit

Publications

Sea Level Rise Exposure and Municipal Bond Yields with Paul Goldsmith-Pinkham, Matthew Gustafston and Michael Schwert. Conditionally Accepted: RFS
Presentations: OSU Energy, AFA, OSU Muni Conference

Do Market Prices Improve the Accuracy of Court Valuations in Chapter 11? with Cem Demiroglu and Julian Franks.  Forthcoming Journal of Finance. Presented at: NBER Summer Institute (Law and Economics), SFS Cavalcade, WFA, EFA, FMA, Finance Down Under

Disaster on the Horizon: The Price Effect of Sea Level Rise with Asaf Bernstein and Matthew Gustafson.  Journal of Financial Economics.  Second Prize AQR Insight award.  Presented at WFA and EFA

Partisan Residential Sorting on Climate Change Risk with Asaf Bernstein, Steven Billings and Mathew Gustafson. Journal of Financial Economics. Presented at WFA, PRI Acadmic Network, NBER SI, SITE