Working Papers
- Stabilization vs. Growth
(with Miguel Faria-e-Castro and Juan Sanchez)
Latest Version: December 2025. - A Macroeconomic Model of Central Bank Digital Currency
NBER Working Paper 33968
(with Mauricio Ulate and Cynthia Wu)
[Summary: VoxEU Column]
Latest Version: October 2025. - Monetary Transmission through Bank Securities Portfolios
Revise and resubmit, Journal of Finance
(with Daniel Greenwald and John Krainer)
Latest Version: May 2024.
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Publications
- The Credit Line Channel
Journal of Finance, 2025, Vol. 80(6), pp. 3137-3183
(with Daniel Greenwald and John Krainer)
[Published] [Summary] [Replication & Data] - Evergreening [Lead Article/Editor’s Choice]
Journal of Financial Economics, 2024, Vol. 153, pp. 1-15
(with Miguel Faria-e-Castro and Juan Sanchez)
[Published] [Summary] [Replication & Data] - Historical Patterns of Inequality and Productivity around Financial Crises
Journal of Money, Credit, and Banking, 2023, Vol. 55(7), pp. 1641-1665
[Published] [Summary] [Replication & Data] - Banks, Maturity Transformation, and Monetary Policy
Journal of Financial Intermediation, 2023, Vol. 53, pp. 1-14
[Published] [Summary] [Replication & Data] - The Transmission of Monetary Policy under the Microscope
Journal of Political Economy, 2021, Vol. 129(10), pp. 2861-2904
(with Martin Holm and Andreas Tischbirek)
[Published] [Summary] [Replication & Data] - The Time-Varying Effect of Monetary Policy on Asset Prices
Review of Economics and Statistics, 2020, Vol. 102(4), pp. 690-704
[Published] [Summary] [Replication & Data] - A Macroeconomic Model with Occasional Financial Crises
Journal of Economic Dynamics and Control, 2020, Vol. 112, pp. 1-21
[Published] [Summary] [Replication]
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