Publications

The U.S., Economic News, and the Global Financial Cycle

with Christoph E. Boehm｜Review of Economic Studies (Forthcoming) 

Other versions: SSRN, Fed WP, NBER WP, NBER Digest

Press coverage: Bloomberg, LSE USAPP

Working Papers

Monetary Policy without Moving Interest Rates: The Fed Non-Yield Shock

with Christoph E. Boehm ｜September 2025｜Fed Non-Yield Shock 

Presentations: CBMMW 2021; AFA 2024; Maryland*; NBER SI 2024; Dallas Fed*; George Washington; Bilkent; WF Empirical Macro 2024*; Bank of Israel*; NBER AP Fall 2024; SEA 2024; AEA 2025; Fed Board; BYU*; MFA 2025; UC San Diego*; SFS Cavalcade NA 2025;...

Other versions: SSRN, Fed WP, NBER WP

How Markets Process Macro News: The Importance of Investor Attention

February 2025

Presentations: CFE 2023; GEA 2023; NASMES 2024; SED 2024; Texas Monetary Conference 2025; FRB Macro-Finance Workshop 2025; NBER SI 2025

Other versions: SSRN, Fed WP

Permanent Working Papers

Firm-Level Uncertainty and the Transmission of Forward Guidance to Investment 

October 2021

Presentations: SEA 2021; ESWM 2021; Ifo Macro & Survey 2022; Fed Board; Wake Forest; Rutgers; Exeter

Other versions: SSRN