Exorbitant Privilege? Quantitative Easing and the Bond Market Subsidy of Prospective Fallen Angels  
Journal of Financial Economics
, Accepted for publication.
Co-authors: Viral Acharya , Ryan BanerjeeTim EisertRenee Spigt
Paper  ·  BibTeX  ·  Liberty Street  ·  FT  ·  Bloomberg [1] [2]

Zombie Credit and (Dis-)Inflation: Evidence from Europe  
Journal of Finance
, 79(3), 1883-1929, June 2024.
Co-authors: Viral AcharyaTim EisertChristian Eufinger
Paper · Online Appendix · BibTeX · VoxEU · WSJ · FT

Pirates without Borders: the Propagation of Cyberattacks through Firms’ Supply Chains  
Journal of Financial Economics
, 147(2), February 2023, 432-448. Editor’s choice.
Co-authors: Marco Macchiavelli and André Silva
Paper  ·  BibTeX  ·  Google Scholar

The Anatomy of the Transmission of Macroprudential Policies  
Journal of Finance
, 77(5), October 2022, 2533-2575. Lead article.
Co-authors: Viral AcharyaKatharina BergantTim EisertFergal McCann
Paper  ·  BibTeX  ·  Google Scholar ·  Online Appendix

Bank Capital, Government Bond Holdings, and Sovereign Debt Capacity  
Journal of Financial Economics
, 141(2), August 2021, 693-704.
Klaus Liebscher Award.
Paper  ·  BibTeX  ·  Google Scholar

The Design and Transmission of Central Bank Liquidity Provisions  
Journal of Financial Economics
, 141(1), July 2021, 27-47.
Co-author: Luisa Carpinelli
ECB Young Economist Award.
Paper  ·  BibTeX  ·  Google Scholar

The (Unintended?) Consequences of the Largest Liquidity Injection Ever  
Journal of Monetary Economics
, 112, June 2020, 97-112.
SUERF/UniCredit Foundation Research Prize.

Co-authors: Miguel Faria-e-Castro and Luìs Fonseca
Paper  ·  BibTeX  ·  Google Scholar

Invited Papers

Zombie Lending: Theoretical, International, and Historical Perspectives

Annual Review of Financial Economics, 14, 2022.
Co-authors: Viral AcharyaTim EisertSascha Steffen
Paper · Working Paper · BibTeX

New York Fed Publications

Climate-Related Financial Stability Risks for the United States: Methods and Applications

Economic Policy Review, forthcoming.
Co-authors: Celso Brunetti, Benjamin Dennis, Gurubala Kotta, Don Morgan, Chaehee Shin, Ilknur Zero