Working
papers
The Unintended
Consequences of Ample Liquidity [Slides for
SAET meetings][Code
for simulations]
Make-Whole Clauses as Skin in
the Game, with Dmitry Orlov. [Slides
for Emory][Slides
for UC Davis] [Slides
for VT] [Slides
for KC Fed] [Code
for simulations]
Who Needs Banks?
with Sabrina Ben Saοd and Cyril Monnet. [Python
notebook] [Slides
for Midwest Macro] [Slides
for ES meetings] [Slides
for EWET meetings] [Slides
for SED meetings] [Slides
for MFA meetings] [Slides for
ESEM]
Asset Quality Dynamics, with Dean Corbae. [Slides]
A Model of Financial Rents,
with Sangeeta Pratap and Cyril Monnet. [Slides]
A Back-up Quarterback View of
Mezzanine Finance, with Antonio Mello. [Online
appendix] [Slides]
Constructing Exchange
Economies with Many Equilibria, with Pascal Gauthier and Tim Kehoe.
[Code for
restart procedure]
Optimal Exclusion,
with Cyril Monnet. [Slides]
[Code
for non stationary case]
Cash-Flow Tranching and the Macroeconomy, with Pedro
Amaral and Dean Corbae. [Slides]
On the Essentiality of
Succession Plans, with Antonio Mello.
Limited Disclosure And Hidden
Orders In Asset Markets, with Cyril Monnet. [Slides]
(Previously circulated as A Theory of Blind Trading)
Rational Opacity,
with Cyril Monnet. [Slides]
Default When Current House
Prices are Uncertain, with Morris Davis.
The Rise of Securitization: A
Recursive Security Design Approach, with Dean Corbae. [Slides]
On Existence in Equilibrium
Models with Endogenous Default
Income Redistribution and Technology Diffusion," with Jim Dolmas and Cyril Monnet.
Leverage and the Foreclosure
Crisis, with Dean Corbae. (Previously circulated under Mortgage Innovation and the
Foreclosure Boom.)
Efficient Contract
Enforcement, with Thorsten Koeppl and Cyril Monnet.
Raising the Bar for Models of
Turnover, with John J. Stevens, Federal Reserve Board, unpublished
manuscript, 2005.
Financial Crises and Labor
Market Turbulence, with Sangeeta Pratap.