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Published and Accepted Papers

Monetary Policy Communications and Their Effects on Household Inflation Expectations

with Olivier Coibion and Yuriy Gorodnichenko
Journal of Political Economy, accepted for publication
Other versions: NBER, CES-ifo, BFI, SSRN
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IQ Expectations and Choice

with Francesco D'Acunto, Daniel Hoang and Maritta Paloviita
Review of Economic Studies, accepted for publication
Other Versions: NBER, BFI, SSRN
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High Inflation: Low Default Risk AND Low Equity Valuations

with Harjoat S. Bhamra, Christian Dorion and Alexandre Jeanneret
Review of Financial Studies, accepted for publication
Other Versions: NBER, CES-ifo, SSRN
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Gender Roles and the Gender Expectations Gap

with Francesco D’Acunto and Ulrike Malmendier
Proceedings of the National Academy of Sciences (2021), 118(21): 1-10.
Other Versions: NBER, CES-ifo, BFI, SSRN
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Managing Households Expectations with Unconventional Policies

with Francesco D'Acunto and Daniel Hoang
Review of Financial Studies, accepted for publication
Other Versions: NBER, CES-ifo
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Exposure to Grocery Prices and Inflation Expectations

with Francesco D'Acunto, Ulrike Malmendier and Juan Ospina
Journal of Political Economy (2021), 129(5): 1615-1639.
Other Versions: NBER, CES-ifo, SSRN
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Estimating the Anomaly Baserate

with Alex Chinco and Andreas Neuhierl
Journal of Financial Economics (2021), 140(1): 101-126.
Other Versions: NBER, BFI, SSRN
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Signaling Safety

with Roni Michaely and Stefano Rossi
Journal of Financial Economics (2021), 139(2): 405-427.
Other Versions: NBER
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The Propagation of Monetary Policy Shocks in a Heterogeneous Production Economy

with Ernesto Pasten and Raphael Schoenle
Journal of Monetary Economics (2020), 116: 1-22.
Other versions: JME, NBER, CES-ifo, BFI, SSRN
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Dissecting Characteristics Nonparametrically

with Joachim Freyberger and Andreas Neuhierl
Review of Financial Studies (2020), 33(5): 2326-2377.
Other versions: NBER, BFI, CES-ifo, SSRN
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Monetary Policy Communication, Policy Slope and the Stock Market

with Andreas Neuhierl
Journal of Monetary Economics (2019), 108: 140-155.
Other versions: SSRN, CES-ifo, NBER, BFI, JME
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Cognitive Abilities and Inflation Expectations

with Francesco D'Acunto, Daniel Hoang and Maritta Paloviita
American Economic Review Papers & Proceedings (2019), 102: 562-566.
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Historical Antisemitism Ethnic Specialization and Financial Development

with Francesco D'Acunto and Marcel Prokopczuk
Review of Economic Studies (2018), 86(3): 1170–1206.
Other versions: NBER, BEHL, SSRN, CES-ifo, BFI
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Unconventional Fiscal Policy

with Francesco D'Acunto and Daniel Hoang
American Economic Review Papers & Proceedings (2018), 108(5): 519-523.
Other versions: NBER, KIT, SSRN, AER, CES-ifo, BFI
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Flexible Prices and Leverage

with Francesco D'Acunto, Ryan Liu, and Carolin Pflueger
Journal of Financial Economics (2018), 129(1): 46-68.
Other versions: SSRN, CES-ifo, BFI, NBER, JFE
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Cash Flow Duration and the Term Structure of Equity Returns

Finalist of the 2013 Dr. Richard A. Crowell Memorial Prize
Colloquium on Financial Markets Best Paper Award
Journal of Financial Economics (2018), 128(3): 486-503.
Other versions: NBER, SSRN, CES-ifo, BFI, JFE
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Are Sticky Prices Costly? Evidence from the Stock Market

with Yuriy Gorodnichenko
American Economic Review (2016), 106(1): 165-199.
Other versions: NBER, SSRN, AER
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Conditional Risk Premia in Currency Markets and Other Asset Classes

with Martin Lettau and Matteo Maggiori
Winner of the 2013 AQR Insight Award
Journal of Financial Economics (2014), 114(2): 197-225.
Other versions: NBER, CEPR, SSRN, JFE
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American Option Valuation: Implied Calibration of GARCH Pricing--Models

with Marcel Prokopczuk
SEW Eurodrive Award for Best Undergraduate Thesis in Business Economics
Journal of Futures Markets (2011), 31(10): 971-994.
Other versions: SSRN
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non-refereed publications

The Effect of Unconventional Fiscal Policy on Consumption Expenditure

with Francesco D'Acunto and Daniel Hoang
ifo DICE Report (2017), 15(1): 9-11.
Other Versions: CES-ifo, BFI, SSRN
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Working Papers

Nominal Rigidities and Asset Pricing

Winner of the Top Finance Graduate Award
UBS Best Conference Paper Prize at the EFA Annual Meeting 2014
2014 EFA Best Doctoral Student Conference Paper Prize
Best Finance PhD Award in Honor of Prof. Greenbaum (Finalist)
Cubist Systematic Strategies PhD Candidate Award for Outstanding Research
Best PhD Student Paper Award, FMA European Conference 2014
revise and resubmit, Journal of Political Economy
Other versions: SSRN
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Cybersecurity Risk

with Chris Florackis, Christodoulos Louca, and Roni Michaely
revise and resubmit, Review of Financial Studies
Other Versions: NBER, CES-ifo, BFI, SSRN
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The Expected, Perceived, and Realized Inflation of U.S. Households before and during the COVID19 Pandemic

with Yuriy Gorodnichenko and Olivier Coibion
Other Versions: SSRN
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Diverse Policy Committees Can Reach Underrepresented Groups

with Francesco D’Acunto and Andreas Fuster
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Price Rigidities and Credit Risk

with Patrick Augustin, Linxiao Francis Cong, and Alexandre Corhay
Other Versions: SSRN
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A Temporary VAT Cut as Unconventional Fiscal Policy

with Rüdiger Bachmann, Benjamin Born, Olga Goldfayn-Frank, Georgi Kocharkov, and Ralph Luetticke
Other Versions: SSRN
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Crowdsourcing Peer Information to Change Spending Behavior

with Francesco D'Acunto and Alberto Rossi
Other Versions: CES-ifo, BFI
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The Effect of Macroeconomic Uncertainty on Household Spending

with Olivier Coibion, Dimitris Georgarakos, and Yuriy Gorodnichenko
Other Versions: NBER, IZA, BFI, SSRN
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Fiscal Policy and Households’ Inflation Expectations: Evidence from a Randomized Control Trial

with Olivier Coibion, and Yuriy Gorodnichenko
Other Versions: NBER, CES-ifo, IZA, BFI, SSRN
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Inclusive Monetary Policy: How Tight Labor Markets Facilitate Broad-Based Employment Growth

with Nittai Bergman and David Matsa
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Manpower Constraints and Corporate Policies

with Francesco D'Acunto, and Shuyao Yang
Other Versions: CES-ifo
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How Did U.S. Consumers Use Their Stimulus Payments?

with Olivier Coibion and Yuriy Gorodnichenko
Other Versions: NBER, CES-ifo, IZA, BFI, SSRN
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Effective Policy Communication: Targets versus Instruments

with Francesco D'Acunto, Daniel Hoang, and Maritta Paloviita
Other Versions: BFI, SSRN
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Political Polarization and Expected Economic Outcomes

with Olivier Coibion and Yuriy Gorodnichenko
Other Versions: NBER, IZA, BFI, SSRN
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Beliefs and Portfolios: Causal Evidence

with Johannes Beutel
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Does Policy Communication During Covid Work?

with Olivier Coibion and Yuriy Gorodnichenko
Published as Covid Papers (2020) 29: 1-49.
Other versions: SSRN, IZA, NBER, CES-ifo, BFI
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Labor Markets During the COVID-19 Crisis: A Preliminary View

with Olivier Coibion and Yuriy Gorodnichenko
Published as Covid Papers (2020), 21: 40-58.
Other versions: IZA, NBER, CES-ifo, BFI, SSRN
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The Cost of the COVID-19 Crisis: Lockdowns, Macroeconomic Expectations, and Consumer Spending

with Olivier Coibon and Yuriy Gorodnichenko
Published as Covid Papers (2020), 20, 1-51.
Other Versions: NBER, CES-ifo, IZA, BFI, SSRN
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Monetary Policy through Production Networks: Evidence from the Stock Market

with Ali Ozdagli
Other versions: SSRN, NBER, CES-ifo, BFI
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Sectoral Heterogeneity in Nominal Price Rigidity and the Origin of Aggregate Fluctuations

with Ernesto Pasten and Raphael Schoenle
Other versions: ECB, NBER, CES-ifo, BFI, SSRN
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Human Frictions to the Transmission of Economic Policy

with Francesco D'Acunto, Daniel Hoang and Maritta Paloviita
Other Versions: BFI, SSRN
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Time Series Momentum around FOMC Meetings

with Andreas Neuhierl
Other Versions: NBER, CES-ifo, BFI, SSRN
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Punish One, Teach A Hundred: The Sobering Effect of Punishment on the Unpunished

with Francesco D'Acunto and Jin Xie
China Financial Research Conference (CFRC) Best Paper Award 2018
Other Versions: CES-ifo, BFI, SSRN
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Perceived Precautionary Savings Motives: Evidence from FinTech

with Francesco D'Acunto, Thomas Rauter, and Christoph Scheuch
Other Versions: NBER, CES-ifo, BFI, SSRN
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Forward Guidance and Household Expectations

with Olivier Coibion, Dimitris Georgarakos, and Yuriy Gorodnichenko
Other Versions: NBER, CES-ifo, IZA, BFI, SSRN
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Big G

with Lydia Cox, Gernot J. Müller, Ernesto Pasten, and Raphael Schoenle
Other Versions: NBER, CES-ifo, BFI, SSRN
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Did Targeting Financial Constraints During COVID-19 Make Sense?

with Dominik Boddin and Francesco D'Acunto
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Missing Data in Asset Pricing Panels

with Joachim Freyberger, Björn Höppner, and Andreas Neuhierl
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