Financial Crises and Financial Intermediation
Changing Risk-Return Profiles, with Richard Crump and Domenico Giannone
Coverage of working paper (Financial Times 10/2017)
No Such Thing as a Free Option? Revise and Resubmit, Review of Finance
Credit Smoothing, with Arna Olafsson and Michaela Pagel
A blogpost on cryptocurrency adoption
Behavioural Economics & Finance
Anchoring to Industry Multiples in IPO Pricing, with Sami Torstila
Best Quantitative Paper Award, Behavioral Finance Working Group 2018 Conference, Queen Mary University of London
Inspired by contrast effects and the common practice of using industry comparables to price new issues, we test for anchoring of initial equity valuations to peer valuation multiples and find novel predictability of IPO under/overpricing.
Earlier versions of this work (2015 and prior) circulated at Yale and on SSRN under the title "Compare and Contrast."
Long-run Planners Live Longer, with Joe Gladstone