Research

The views expressed here do not reflect those of the Federal Reserve Board or Federal Reserve System.

Publications


Uncertainty and Business Cycles: Exogenous Impulse or Endogenous Response? 

with Sydney C. Ludvigson (NYU) and Serena Ng (Columbia)

AEJ: Macro, Forthcoming

NBER Working Paper No. 21803, Media Coverage: Bloomberg View

Macro and Financial Uncertainty Index (Updated every February and August) Last Update: 2020 FEB.


Capital Share Risk in U.S. Asset Pricing (Appendix)

with Martin Lettau (Berkeley Hass) and Sydney C. Ludvigson (NYU)

Journal of Finance 74(4), August 2019, pp. 1753-1792.

NBER Working Paper No. 20744, Replication Files


Policy Notes

Quantifying the Impact of Foreign Economic Uncertainty on the U.S. Economy  (Juan M. Londono and Beth Anne Wilson), FEDS Notes, October 2019


Working Papers

COVID19 and The Macroeconomic Effects of Costly Disasters (April 06, 2020)

with Sydney C. Ludvigson (NYU) and Serena Ng (Columbia)


Housing Cycles and Exchange Rates  (April 2020, Internet Appendix, Under Review)

with Shaojun Zhang (OSU Fisher)


Private Equity and the Macroeconomy (Jan. 2020, Under Review)

with Boyan Jovanovic (NYU) and Peter L. Rousseau (Vanderbilt) 


Shock Restricted Structural Vector-Autoregressions (Jan. 2020, Slides for AEA2020, Under Review)

with Sydney C. Ludvigson (NYU) and Serena Ng (Columbia)

NBER Working Paper No. 23225


Uncertainty and Growth Disasters (Under Review)

with Boyan Jovanovic (NYU)


Heterogeneous Intermediaries and Asset Prices  (Under R&R)


Competition and Implementation Cycles (Under Revision)


Selected Work in Progress


Housing Risk and the Cross-Section of Returns Across Many Asset Classes (with Shaojun Zhang)

Momentum Undervalue Puzzle (with Sydney Ludvigson and Martin Lettau)

Asset Prices and Dynamic Intermediation Chains in OTC Markets (Under Major Revision)