Financial and Total Wealth Inequality with Declining Interest Rates
(with Greenwald, Daniel and Leombroni, Matteo, and Van Nieuwerburgh, Stijn) [Link]
Exorbitant Privilege Gained and Lost: Fiscal Implications
(with Zefeng Chen, Zhengyang Jiang, Stijn Van Nieuwerburgh, Mindy Z. Xiaolan) [Link]
The Rest of the World’s Dollar-Weighted Return on U.S. Treasurys
(with Jiang, Zhengyang and Krishnamurthy, Arvind) [Link]
What Drives Variation in the U.S. Debt/Output Ratio? The Dogs that Didn’t Bark
(with Jiang, Zhengyang and Van Nieuwerburgh, Stijn and Xiaolan, Mindy Z.) [Link]
Beyond Incomplete Spanning: Convenience Yields and Exchange Rate Disconnect
(with Zhengyang Jiang, and Arvind Krishnamurthy) [Link]
Measuring U.S. Fiscal Capacity using Discounted Cash Flow Analysis
(with Zhengyang Jiang, Stijn Van Nieuwerburgh, Mindy Z. Xiaolan) [Link]
What Determines the Government’s Funding Costs when r=g? Unpleasant Fiscal Asset Pricing Arithmetic
(with Jiang, Zhengyang and Van Nieuwerburgh, Stijn and Xiaolan, Mindy Z.,) [Link]
Quantifying U.S. Treasury Investor Optimism
(with Zhengyang Jiang, Stijn Van Nieuwerburgh and Mindy Z. Xiaolan) [Link]
Bond Convenience Yields in the Eurozone Currency Union
(with Jiang, Zhengyang and Van Nieuwerburgh, Stijn and Xiaolan, Mindy Z.) [Link]
Manufacturing Risk-free Government Debt
(with Zhengyang Jiang, Stijn Van Nieuwerburgh and Mindy Z. Xiaolan) [Link]