Working Papers

"Household Debt Revaluation and the Real Economy: Evidence from a Foreign Currency Debt Crisis," (with Gyozo Gyongyosi)

"How Do Credit Supply Shocks Affect the Real Economy? Evidence from the United States in the 1980s," (with Atif Mian and Amir Sufi)
     Online Appendix
     Media: FT Alphaville, Equitable Growth

"The Consumption Response to Extended Unemployment Benefits in the Great Recession," (with Graham McKee)


"Household Debt and Business Cycles Worldwide," (with Atif Mian and Amir Sufi)
Quarterly Journal of Economics, November 2017
     Publisher's Version, Online Appendix, Out-of-sample replication on the IMF's Global Debt Database
     Media: NBER Digest, Equitable Growth, The Economist

Work in Progress

“Identifying Banking Crises: A Bank Equity Based Approach,” (with Matthew Baron and Wei Xiong)

“Financial Crisis, Creditor-Debtor Conflicts, and Political Extremism,” (with Gyozo Gyongyosi)

“The Effects of a Large-Scale Debt Restructuring on Household Demand and Bank Credit Supply,” (with Gyozo Gyongyosi)