Papers
Published and forthcoming
1. "Contingent Reserves Management: An Applied Framework", 2005, (joint with R. Caballero) in Economia Chileana, 8(2),pp. 45-56
2. Saving and Investing for Early Retirement: A Theoretical Analysis, (joint with E. Farhi), Journal of Financial Economics, 2007, 83 (1), pp. 87-122.
Winner of the Geewax, Terker Prize in Investment Research, Rodney L. White Center for Financial Research, 2005
3. Optimal Inattention to the Stock Market (joint with Andrew B. Abel and Janice Eberly), American Economic Review, P&P, May 2007, 2, pp. 244-249
4. Hedging Sudden Stops and Precautionary Contractions , (joint with R. Caballero) Journal of Development Economics 2008, 85 (1-2) , pp. 28-57
5. “High-Water Marks: High Risk Appetites? Convex Compensation, Long Horizons, and Portfolio Choice” (joint with M. Westerfield) Journal of Finance 2009, 64 (1) , pp. 1-36
Lead Article in the Journal of Finance
6. “Bailouts, the incentive to manage risk, and financial crises”, Journal of Financial Economics, 2010, 95(3) , pp. 296-311
7. “Optimal taxation in the presence of bailouts'', Journal of Monetary Economics, 2010, 57(1), pp. 101-116
8. “Technological Growth and Asset Pricing”, 2010 (joint with Nicolae Garleanu and Jianfeng Yu) , forthcoming Journal of Finance Extended Appendix
9. “Displacement Risk and Asset Returns’’, 2011 (joint with Nicolae Garleanu and Leonid Kogan) , forthcoming Journal of Financial Economics Extended Appendix
Winner of the 2011 Utah Winter Finance Conference Best Paper award
Working Papers
1. Optimal inattention to the stock market in the presence of transactions costs (joint with Andrew B. Abel and Janice C. Eberly) , October 2011
2. “Pension Design in the Presence of Systemic Risk”, September 2011,
Geewax, Terker Prize in Investment Research, Rodney L. White Center for Financial Research, 2007
3. Young, Old, Conservarive and Bold. The implications of finite lives and heterogeneity for Asset Pricing, (joint with Nicolae Garleanu), October 2010 Online Appendix
4. A Global Equilibrium Model of Sudden Stops and External Liquidity Management. (joint with R. Caballero), September 2007
5. The Neoclassical q Theory of Investment in Speculative Markets, mimeo. The Wharton School, December 2005
6. The real effects of stock market mispricing at the aggregate: Theory and Empirical Evidence (joint with E. Farhi), mimeo. M.I.T. and the Wharton School, December 2004