Research

Do Municipal Bond Investors Pay a Convenience Premium to Avoid Taxes?

With Francis A. Longstaff

Review of Financial Studies2025

published online on November 19, 2025.

Treasury Richness

With Francis A. Longstaff

Journal of Finance2024

Volume 79, Issue 4, August 2024, 2797–2844.

Small Business Equity Returns: Empirical Evidence from the Business Credit Card Securitization Market

With Francis A. Longstaff

Journal of Finance2023

Volume 78, Issue 1, February 2023, 389–425.

The Market Risk Premium for Unsecured Consumer Credit Risk

With Francis A. Longstaff

Review of Financial Studies2022

Volume 35, Issue 10, October 2022, 4756–4801.

Treasury Yield Implied Volatility and Real Activity

With Priyank Gandhi and Martijn Cremers

Journal of Financial Economics2021

Volume 140, Issue 2, May 2021, 412–435.

Renting Balance Sheet Space: Intermediary Balance Sheet Rental Costs and the Valuation of Derivatives

With Francis A. Longstaff

Review of Financial Studies2020

Volume 33, Issue 11, November 2020, 5051–5091.

The U.S. Treasury Floating Rate Note Puzzle: Is there a Premium for Mark-to-Market Stability?

With Francis A. Longstaff

Journal of Financial Economics2020

Volume 137, Issue 3, September 2020, 637–658.

Corporate Taxes and Capital Structure: A Long-Term Historical Perspective

With Francis A. Longstaff and Ilya A. Strebulaev

Critical Finance Review2020

Volume 9: No. 1–2, 2020, 1–28.

Deflation Risk

With Francis A. Longstaff and Hanno Lustig

Review of Financial Studies2017

Volume 30, Issue 8, August 2017, 2719–2760.

The TIPS–Treasury Bond Puzzle

With Francis A. Longstaff and Hanno Lustig

Journal of Finance2014Amundi Smith Breeden Distinguished Paper Award, 2014

Volume 69, Issue 5, October 2014, 2151–2197.

The Puzzling Internal Inconsistencies in Term Structures of Bank CD Rates

With Francis A. Longstaff

Revise and Resubmit at Journal of Financial Economics.

Previously titled: Financial Sophistication and Bank Market Power, NBER Working Paper 33049, 2024.

Fixed Floating Interest Rate Parity

With Sven Klingler and Francis A. Longstaff

Working paper

Valuing Sticky Deposits

With Shohini Kundu and Francis A. Longstaff

NBER Working Paper 34641, 2025.

Benchmark Interest Rates in the SOFR Era

With Sven Klingler and Olav Syrstad

Working Paper, 2025.

The Last Days of LIBOR

With Sven Klingler and Olav Syrstad

Working Paper, 2025.

Is Maturity Transformation Risk Priced Into Bank Deposit Rates?

With Francis A. Longstaff

NBER Working Paper 32724, 2024.

Tax Policy Uncertainty and Asset Prices: Evidence from Dual-class Corporate Bonds in the Early 20th Century

With Priyank Gandhi and Pengjie Gao

Working Paper, 2020.

Inflation Adjusted Bonds and the Inflation Risk Premium

With Francis A. Longstaff and Hanno Lustig

Handbook of Fixed-Income Securities

2016. John Wiley & Sons.