Published papers:
Limited Asset Market Participation and the Elasticity of Intertemporal Substitution, Journal of Political Economy, August 2002
Stock Market Participation, Intertemporal Substitution and Risk Aversion (with Orazio P. Attanasio), American Economic Review, Papers and Proceedings, May 2003
Perspectives on Behavioral Finance: Does "Irrationality" Disappear with Wealth? Evidence from Expectations and Actions, NBER Macroeconomics Annual, 2003
The Returns to Entrepreneurial Investment: A Private Equity Premium Puzzle? (with Tobias Moskowitz), American Economic Review, September 2002 (supported by NSF grant 0111795).
Testing Agency Theory With Entrepreneur Effort and Wealth (with Marianne Bitler and Tobias Moskowitz), Journal of Finance, April 2005, lead article
Winner, Journal of Finance Brattle Prize (Distinguished Paper), 2005
Mandated Disclosure, Stock Returns, and the 1964 Securities Acts Amendments (with Michael Greenstone and Paul Oyer), Quarterly Journal of Economics, May 2006
The Value of Knowing (with Michael Greenstone and Paul Oyer), Regulation, Summer 2006
Long-Run Stockholder Consumption Risk and Asset Returns (with Christopher Malloy and Tobias Moskowitz), Journal of Finance, December 2009, lead article. Consumption growth data for all households (from NIPA), and for stockholders, top stockholders and non-stockholders (from the CEX), Stata format
Nominated for Journal of Finance Smith-Breeden Prize for 2010.
A Lobbying Approach to Evaluating The Sarbanes-Oxley Act of 2002 (with Yael Hochberg and Paola Sapienza), Journal of Accounting Research, May 2009
Who Bears Aggregate Fluctuations and How? (with Jonathan A. Parker), American Economic Review, Papers and Proceedings, May 2009. Unpublished appendix
The Increase in Income Cyclicality of High-Income Households and its Relation to the Rise in Top Income Shares (with Jonathan A. Parker), Brookings Papers on Economic Activity, Fall 2010
The Effects of Quantitative Easing on Interest Rates: Channels and Implications for Policy (with Arvind Krishnamurthy), Brookings Papers on Economic Activity, Fall 2011.
The Aggregate Demand for Treasury Debt (with Arvind Krishnamurthy), Journal of Political Economy, April 2012
Informational Hold-Up and Performance Persistence in Venture Capital (with Yael Hochberg and Alexander Ljungqvist), Review of Financial Studies, 2013
Winner, Argentum Prize for Best Symposium Paper on Private Equity and Funds of Private Equity, European Finance Association 2009.
The Ins and Outs of Large Scale Asset Purchases (with Arvind Krishnamurthy), Kansas City Federal Reserve Symposium on Global Dimensions of Unconventional Monetary Policy, 2013
The Impact of Treasury Supply on Financial Sector Lending and Stability (with Arvind Krishnamurthy), Journal of Financial Economics, 2015
Winner, Swiss Finance Institute Outstanding Paper Award, 2015
ECB Policies involving Government Bond Purchases: Impact and Channels (with Arvind Krishnamurthy and Stefan Nagel), Review of Finance, 2018
Stock Returns over the FOMC Cycle (with Anna Cieslak and Adair Morse), Journal of Finance, 2019. Internet appendix
Central Banking with Many Voices: The Communications Arms Race, Conference Proceedings, 23rd Annual Conference of the Central Bank of Chile, 2019
Informal Central Bank Communication, Slides, Conference Proceedings, ECB Forum on Central Banking (Sintra), 2020
The Economics of the Fed Put (with Anna Cieslak), Review of Financial Studies, 2021. Internet appendix
The Treasury Market in Spring 2020 and the Response of the Federal Reserve, Journal of Monetary Economics, 2021
Balance Sheet Policy Above the Effective Lower Bound, Conference Proceedings, ECB Forum on Central Banking (Sintra), 2023, Slides and video posted here
Convenience Yields and Monetary Policy, Baffi Lecture, Bank of Italy, 2023, Slides, video posted here
The Effect of the Federal Reserve on the Stock Market: Magnitudes, Channels and Shocks (with Benjamin Knox), forthcoming, Annual Review of Financial Economics, 2025
Published comments:
Comment on "Stock Prices and Fundamentals" by John Heaton and Deborah Lucas, NBER Macroeconomics Annual, 1999
Comment on “Effects of Unconventional Monetary Policy on Financial Institutions” by Gabriel Chodorow-Reich, Brookings Papers on Economic Activity, Spring 2014
Comment on "Treasury Market Dysfunction and the Role of the Central Bank", by Kashyap, Stein, Wallen and Younger, forthcoming, Brookings Papers on Economic Activity, Spring 2025