Research

Working Papers (Macroeconomics and Finance)

A Unified Theory of the Term-Structure and Monetary Stabilization: Part I. Theory (joint with Marc Dordal i Carreras)

Working paper, 2022
(Comments welcome!)
Manuscript: Term-structure.theory.pdf
Slides: Term-structure.theory.slides.pdf

Active Taylor Rules Still Breed Sunspots: Sunspot Volatility, Risk-Premium, and the Business Cycle (Job Market Paper) (joint with Marc Dordal i Carreras)

Working paper, 2022
Manuscript: Sunspot_risk_premium.pdf

Growth, Heterogeneous Beliefs, and Risk Amplification (joint with Theofanis Papamichalis)

Working paper, 2023
(Comments welcome!)
Manuscript: Belief.pdf
SSRN
Slides: Belief.slides.pdf

Working Papers (Contract and Corporate Finance)

Managerial Incentives, Financial Innovation, and Risk-Management Policy (joint with Son Ku Kim and Sheridan Titman)

News: In major reconstruction

Working paper, 2022
Manuscript: Dual.agency.pdf
Slides: Dual.agency.slides.pdf

Ignorance is Bliss: Ex-Ante vs. Ex-Post Information Systems in an Agency Model (joint with Jin Yong Jung and Son Ku Kim)

News: slides are just updated!

News: The revised version posted!

Working paper, 2022
Manuscript: ex.ante.pdf
Slides: ex.ante.slides.pdf

Justifying the First-Order Approach in Agency Frameworks with the Agent’s Possibly Non-Concave Value Function (joint with Jin Yong Jung and Son Ku Kim)

News: In major reconstruction

Working paper, 2022
Manuscript: First-order approach.pdf
Slides: First-order approach.slides.pdf

Work in Progress

Risky Growth with Short-Term Debt (joint with Artur Doshchyn)

In progress, 2023 Preliminary slides available on request

A Higher-Order Forward Guidance (joint with Marc Dordal i Carreras)

In progress, 2022 draft coming soon!

The Saturated Lower Bound (SLB) (joint with Marc Dordal i Carreras and Zhenghua Qi)

In progress, 2023 draft coming soon!

The Spatial Transmission of US Banking Panics (joint with Marc Dordal i Carreras)

Preliminary Slides: US Panics.slides.pdf

Empirical Estimation of Bond Market Segmentation (joint with Marc Dordal i Carreras and Anna Carruthers)

In progress, 2023

Optimal Contracts in the Presence of Risk-Prudence (joint with Jin Yong Jung)

In progress, 2022 Slides available on request

Modeling Misspecified Macroeconomic Narratives (joint with Yuriy Gorodnichenko and Chen Lian)

In progress, 2022