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Essays in Energy Economics and Entrepreneurial Finance
(2015-05-11)
When does government intervention successfully correct perceived market failures? What effects do such interventions have on firm decisions? These questions are especially vital to the energy sector, which features large ...
Essays on Macroeconomic Stabilization
(2016-05-18)
Motivated by policy debates emerging from the U.S. Great Recession and Eurozone crisis, I study the stabilization role of monetary, fiscal, and macroprudential policies in response to short-run fluctuations. In the first ...
Essays on the Dynamic Strategies and Skill of Institutional Investors
(2016-05-11)
This dissertation studies the behavior of institutional investors, who control a large share of the world's investment capital, with the goal of shedding light on when and how those investors reveal information. Guided by ...
Danger Ahead: The Reach-for-Yield Behavioral Transmission Mechanism Across Risky Assets
(2016-07-06)
This paper argues for the existence of a reach-for-yield behavioral transmission mechanism which, during low-interest rate periods, drives a higher willingness to pay for dividend yield in various yield assets like high-yield ...
Essays in Financial Economics
(2015-05-18)
This dissertation addresses the central issue of understanding how frictions to information flow distort the ability for prices to incorporate new information. In chapter 1, “Forgotten Portfolios”, I illustrate how the ...
Essays in Asset Pricing and Macroeconomics
(2017-05-13)
This dissertation presents three essays. The first essay finds that investment strategies which generate “alphas” become endogenously risky by acquiring “betas” with respect to shocks that institutional arbitrageurs are ...
Essays in Household Finance and Bank Regulation
(2017-01-25)
My dissertation focuses on topics in household finance and bank regulation. In chapter 1, I estimate the household consumption response to a predictable, quasi-permanent income shock. Credit card spending rises well before ...
Essays in Financial Economics
(2017-05-16)
My dissertation is composed of three papers in financial economics. In the first essay, “Credit Migration and Covered Interest Rate Parity,” I document economically large and persistent discrepancies in the pricing of ...
Essays on Institutional Frictions in Fixed Income Markets
(2017-05-02)
This dissertation studies how financial markets can be distorted by institutions and their trading frictions. In particular, I study how thin and illiquid markets, concentrated risks and intermediaries' asset inventory ...
Essays on Finance and Economic Policy
(2018-05-10)
This dissertation presents three empirical studies on how financial frictions shape the transmission and effects of economic policy. The dissertation investigates three settings: financial regulation, corporate tax policy, ...