Governments and Asset Prices

Research on Governments and Asset Prices

The Price of Political Uncertainty: Theory and Evidence from the Option Market (with Bryan Kelly and Lubos Pastor), Revised July 2015. The Journal of Finance (forthcoming). Internet Appendix to accompany the paper.

Investor's and Central Bank's Uncertainty Embedded in Index Options (with Alexander David), The Review of Financial Studies, 2014, 27, (6): 1661 – 1716. Technical Appendix

Political Uncertainty and Risk Premia (with Lubos Pastor) Journal of Financial Economics, December 2013, 110, 3, 520 – 545 Technical Appendix

Uncertainty about Government Policy and Stock Prices, (joint with Lubos Pastor), Journal of Finance, August 2012, 64, 4, 1219 – 1264. Technical Appendix.

• Winner of the 2012 Journal of Finance - Smith Breeden Distinguished Paper Prize (3rd place)

Paulson's Gift (with Luigi Zingales), Journal of Financial Economics, September 2010, 97, 3, 339 – 368