Working Papers

The Time-Varying Price of Financial Intermediation in the Mortgage Market (with Stephanie Lo and Paul Willen), March 2022

  • Conditionally accepted, Journal of Finance

Paying Too Much? Borrower Sophistication and Overpayment in the US Mortgage Market (with Neil Bhutta and Aurel Hizmo), January 2021

  • Revise&resubmit, Journal of Finance

How Resilient Is Mortgage Credit Supply? Evidence from the COVID-19 Pandemic (with Aurel Hizmo, Lauren Lambie-Hanson, James Vickery, and Paul Willen), May 2021

  • Revise&resubmit, Journal of Finance

Mortgage-Backed Securities (with David Lucca and James Vickery), February 2022. (Prepared for Research Handbook of Financial Markets.)

Survey Experiments on Economic Expectations (with Basit Zafar), February 2022. (Prepared for Handbook of Economic Expectations.)

A Diverse Fed Can Reach Underrepresented Groups (with Francesco D'Acunto and Michael Weber), May 2022 [2-page summary] [slides]

Tiers of Joy? Reserve Tiering and Bank Behavior in a Negative-Rate Environment (with Tan Schelling and Pascal Towbin), May 2022

Measuring and Stress-Testing Market-Implied Bank Capital (with Martin Indergand and Eric Jondeau), January 2022

Does CFPB Oversight Crimp Credit? (with Matthew Plosser and James Vickery), January 2021

Regulation and Risk Shuffling in Bank Securities Portfolios (with James Vickery), June 2018

$1.25 Trillion is Still Real Money: Some Facts About the Effects of the Federal Reserve's Mortgage Market Investments (with Paul Willen), August 2010 (partly superseded by "The Time-Varying Price of Financial Intermediation in the Mortgage Market")