11. "Bond Convenience Yields in Eurozone Currency Union", with Zhengyang Jiang, Hanno Lustig, Stijn Van Nieuwerburgh
Review of Financial Studies, Conditional Accepted10. "Manufacture Risk-free Government Debt", with Zhengyang Jiang, Hanno Lustig, Stijn Van Nieuwerburgh
Journal of Financial Economics, February 2026, Volume 176 (DOI)9. "Exorbitant Privilege Gained and Lost: Fiscal Implications", with Zefeng Chen, Zhengyang Jiang, Hanno Lustig, Stijn Van Nieuwerburgh
Journal of Political Economy, Accepted (DOI)8. "The U.S. Public Debt Valuation Puzzle", with Zhengyang Jiang, Hanno Lustig, Stijn Van Nieuwerburgh
Econometrica, July 2024, Volume 92, Issue 4, Page 1309-1347 (DOI) Response to Cochrane's Blog Posts Data7. "What Drives Variation in the U.S. Debt/Output Ratio? The Dogs that Didn't Bark", with Zhengyang Jiang, Hanno Lustig, Stijn Van Nieuwerburgh
Journal of Finance, June 2024, Volume 79, Issue 4, Page 2603-2665 (DOI)6. "Fiscal Capacity: An Asset Pricing Perspective", with Zhengyang Jiang, Hanno Lustig, Stijn Van Nieuwerburgh
Annual Review of Financial Economics, Volume 15, June 2023, (DOI)5. "Delegated Learning and Contract Commonality in Asset Management", with Michael Sockin
Review of Finance, March 2023, Page 1931-1975 (DOI) Lead Article, Editor's Choice.4. "Measuring U.S. Fiscal Capacity Using Discounted Cash Flow Analysis", with Zhengyang Jiang, Hanno Lustig, Stijn Van Nieuwerburgh
Brookings Papers and Economic Activities, September 2022, Page 157-209 NBER Digest Brookings Published Discussion3. "Human Capitalists", with Andrea Eisfeldt and Antonio Falato
NBER Macroeconomics Annual, Volume 37, 2022, Pages 1-61 (DOI) Lead Article Published Comment - Giovanni L. Violante Published Comment - Eric Zwick NBER Macro Annual Published General Discussion Online Appendix NBER Digest Marginal Revolution, Bloomberg, the Financial Post2. "Financing Intangible Capital", with Qi Sun
Journal of Financial Economics, Volume 133, Issue 3, September 2019, Pages 564-58 (DOI) Online Appendix1. "Capital Share Dynamics When Firms Insure Workers", with Barney Hartman-Glaser and Hanno Lustig
Journal of Finance, Volume74, Issue4, August 2019, Pages 1707-1751 (DOI) September 2016 Version