Recent Research

"A Theory of Debt Maturity: The Long and Short of Debt Overhang" (with Zhiguo He), NBER Working Paper Series No. 18160, Cambridge: National Bureau of Economic Research, June 2012.
"Illiquid Banks, Financial Stability, and Interest Rate Policy" (with Raghuram G. Rajan), Journal of Political Economy, June 2012.
"Fear of Fire Sales, Illiquidity Seeking, and Credit Freezes" (with Raghuram G. Rajan), The Quarterly Journal of Economics, May 2011, 126(2), pp. 557-91.