Research and Statistics Staff | Capital Markets Section
Capital Markets Section
Division of Research and Statistics
Fields of Interest
Ph.D., Economics, Duke University, 1994
M.A., Economics, Duke University, 1992
B.A., Economics, Swarthmore College, 1990
Board of Governors of the Federal Reserve System, 1998-present
Associate Professor of Economics and Finance, Brandeis University, 2001-2001
Assistant Professor of Economics and Finance, Brandeis University, 2000-2001
Assistant Professor of Economics, Brandeis University, 1995-1998
''Are Some Bank Managers Issuing Bonds to Call Attention to their Banks, While Others Are Hiding By Not Issuing?''
(with Daniel M. Covitz), in
Proceedings of the 38th Annual Conference on Bank Structure and Competition. Chicago: Federal Reserve Bank of Chicago, 2002.
''The Impact of Market Liquidity in Times of Stress on Corporate Bond Issuance,'' in
Proceedings of the Third Joint Central Bank Research Conference on Risk Measurement and Systemic Risk. Basel: Bank for International Settlements, 2002.
''Rational Equity Valuation at the Time of the South Sea Bubble,''
History of Political Economy, vol. 33
(Summer 2001), pp. 269-81.
Does Multinationality Matter? Evidence of Value Destruction in U.S. Multinational Corporations
(with Reid W. Click),
Finance and Economics Discussion Series 2000-21. Washington: Board of Governors of the Federal Reserve System, 2000.
The Timing of Debt Issuance and Rating Migration: Theory and Evidence
(with Dan Covitz),
Finance and Economics Discussion Series 2000-10. Washington: Board of Governors of the Federal Reserve System, 2000.
''An Investigation of the Risk and Return Relation at Long Horizons''
(with Harold H. Zhang),
Review of Economics and Statistics, vol. 81
(August 1999), pp. 399-408.
Finance and Growth: Theory and New Evidence
(with Oren Sussman and Joseph Zeira),
Finance and Economics Discussion Series 1999-35. Washington: Board of Governors of the Federal Reserve System, 1999.
''Similarities in the Distribution of Stock Market Price Changes Between the 18th and 20th Centuries,''
Journal of Business, vol. 71
(1998), pp. 55-79.
''Trading 'In the Wind' and With Guile, the Troublesome Matter of the Short Selling of Shares in 17th Century Holland''
(with Neil De Marchi),
History of Political Economy, vol. 26
(1994), pp. 47-65.