Other Research
Housing, Household Debt, and the Business Cycle: An Application to China and Korea, prepared for joint ABFER/AMPF keynote address, 2023
Household Debt and Recession in Brazil, Chapter prepared for Handbook of U.S. Consumer Economics, 2018 (with Gabriel Garber, Atif Mian, and Jacopo Ponticelli)
Household Debt and Defaults from 2000 to 2010: The Credit Supply View, Chapter in Evidence and Innovation in Housing Law and Policy, edited by Lee Anne Fennell & Benjamin J. Keys, eds., 2017 (with Atif Mian)
Who Bears the Cost of Recessions? The Role of House Prices and Household Debt, Chapter for Handbook of Macroeconomics: Volume 2
Out of Many, One? Household Debt, Redistribution, and Monetary Policy During the Economic Slump, Andrew Crockett Memorial Lecture, June 2015
The Micro of Macro, AEA 2015 [Slides from my presentation in Richard Thaler's "Undismal Science" session].
Discussion of Duchin, Ozbas, and Sensoy's "Costly External Finance, Corporate Investment, and the Subprime Mortgage Credit Crisis", AFA 2010 [I argue that corporate investment is not the key to understanding Recession of 2007 to 2009].
The Great Recession: Lessons from Microeconomic Data (with Atif Mian), American Economic Review Papers and Proceedings, May 2010 [If you want a short overview of our research on the macroeconomic implications of the mortgage/housing crisis, this is it.]
Discussion of Barlevy and Fisher's "Mortgage Choices and Housing Speculation," NBER EFG, Spring 2010 [I argue that subprime is in fact strongly correlated with MSA house price growth].
Household Debt and the Weak U.S. Economic Recovery (with Atif Mian), Federal Reserve Bank of San Francisco Economic Letter, January 2010 (Data Appendix)
Financial Contracting: A Survey of Empirical Research and Future Directions (with Michael Roberts), inaugural edition of Annual Review of Financial Economics, 2009, published by Annual Reviews, Palo Alto, CA, pp. 207-226
The Political Economy of the U.S. Mortgage Default Crisis: A Synopsis, FRB of Chicago Bank Structure Conference Proceedings, May 2009, 125-130
Summary of “The Consequences of Mortgage Credit Expansion, (with Atif Mian), FRB of Chicago Bank Structure Conference Proceedings, May 2008, 129-132
The Effect of Creditor Control Rights on Firm Investment Policy: Evidence from Private Credit Agreements (with Greg Nini and David Smith) FRB of Chicago Bank Structure Conference Proceedings, May 2007, 117-122
The Role of Banks in Corporate Finance, Ph.D. Dissertation, Massachussets Institute of Technology, 2005.
Dynamic Inefficiencies in Insurance Markets: Evidence from Long-Term Care Insurance (with Amy Finkelstein and Kathleen McGarry), American Economic Review Papers and Proceedings, May 2005, 95: 224-228
Expansion of Bank Powers: Who Gains the Most? (with Philip Strahan), FRB of Chicago Bank Structure Conference Proceedings, May 2001, 682-698
The Changing Landscape of the Financial Services Industry: What Lies Ahead? (with Cara Lown, C.S. Osler, and Philip Strahan), Federal Reserve Bank of New York Economic Policy Review, October 2000, 39-55