1. Does credit affect stock trading? Evidence from the South Sea Bubble (Joint with Fabio Braggion and Rik Frehen).

Accepted at Journal of Financial and Quantitative Analysis

European Finance Association 2020 Best Conference Paper Prize

A summary of the paper is featured on the CEPR policy portal (Voxeu.org)

Student Loan Supply, Parental Saving & Portfolio Allocation April 2023.

Abstract: I show that an expansion of student loan supply affects parents' saving decisions and portfolio allocation. By exploiting policy-induced variation on expected student aid, I find a 2.2 pp increase in the parental saving rate, from 4.9% to 6.1%. The mechanism that drives this result is the positive effect of student aid on students’ college enrolment. Consistent with this interpretation, I find a disproportionate increase in college enrolment for children of families affected by the reform. The positive saving response is largest among lower- and middle-income families, in areas with higher average college expenses and for parents with strong saving preferences. A placebo test validates that the effect is absent in families without children. Moreover, I show that affected parents shift the allocation of saving flows towards riskier assets. 

Presentations (includes scheduled): EFA 2022, SFS Cavalcade North America 2020, ASSA 2021, FIRS 2022, RBFC 2022, EFMA 2022, FMARC 2022, EFiC 2022, EEA 2020, RES 2021, ESPE 2021, Canadian Economics Association 2022, Nova SBE, Alliance Manchester Business School, Bristol University, Free University Amsterdam, KU Leuven, CSEF - University of Naples Federico II, Tilburg University and Young Finance Scholar Conference