Working Papers

The 2023 Banking Turmoil and the Bank Term Funding Program (with David Glancy, Felicia Ionescu, Elizabeth Klee, Antonis Kotidis, and Andrei Zlate)

June 2024  

Debt Flexibility (with Rhys Bidder, Nicolas Crouzet, and Margaret M. Jacobson)

November  2023 (new version coming soon) 

Bank Health and Local Economic Outcomes (with Simon Gilchrist and Egon Zakrajsek)

October  2023 (new version coming soon) 

Older working Papers

Uncertainty and International Capital Flows (with Francois Gourio and Adrien Verdelhan)

December 2015

Learning, Rare Disasters, and Asset Prices (with Yang K. Lu)

January 2016; First version: September 2011

FEDS Working Paper 2013-85

Firm entry and Employment Dynamics in the Great Recession 

February 2016 , First version: March 2012

old version: FEDS Working Paper 2014-56

In the media: WSJ.com;  Speech by Chair Yellen

Work in Progress

A Missing Generation of Firms? Aggregate Effects of the Decline in New Business Formation (with Francois Gourio)