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Working Papers

Revise and Resubmit, Review of Financial Studies

We investigate whether fiscal reforms that reduce banks' incentives to leverage also affect banks' portfolio allocation.

Code and Data, Online Appendix

We investigate academic pay heterogeneity across fields over more than 30 years, and the role of student wages.

Previous version: The Pay of Finance Professors (AFA 2024)

Household Preferences, Security Design, and Volatility Prices, with Laurent Calvet, Gordon Liao, Boris Vallée

Publications

Catering to Investors through Security Design: Headline Rate and Complexity, with Boris Vallée

Quarterly Journal of Economics, 2017, Volume 132, Issue 3, Pages 1469–1508.

Returns to Talent and the Finance Wage Premiumwith Boris Vallée

Review of Financial Studies, 2019, Volume 32, Issue 10, Pages 4005-4040

Bank Branch Supply, Financial Inclusion and Wealth Accumulationwith Adrien Matray

 Review of Financial Studies, 2019, Volume 32, Issue 12, Pages 4767-4809. ​CODE AND DATA

Can Security Design Solve Household Reluctance to Take Risk?with L. Calvet, P. Sodini and B. Vallée

Journal of Finance, 2023, Volume 78, Issue 4, Pages 1917-1966

Finance, Advertising, and Racewith Purnoor Tak

Review of Financial Studies, Accepted for Publication

Internet Appendix, Reply to Stein and Yannelis (2021)

Selected Work in Progress

Who Benefits from Bank Charters? Evidence from 19th Century Canada, with Marianne Volle

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