Recent Publications

(Links may be to pre-publication working paper versions. Some may require JSTOR access to view.)

Valuation of Government Policies and Projects,” Annual Review of Financial Economics, 2012


“Is Mark-to-Market Accounting Destabilizing? Analysis and Implications for Policy” (with John Heaton and Robert McDonald),  Journal of Monetary Economics, January, 2010.


“Valuing Government Guarantees:  Fannie and Freddie Revisited” (with Robert McDonald), in Measuring and Managing Federal Financial Risk, edited by D. Lucas, University of Chicago Press, 2010

 

“The Cost of Risk to the Government and Its Implications for Federal Budgeting” (with Marvin Phaup), in Measuring and Managing Federal Financial Risk, edited by D. Lucas, University of Chicago Press, 2010

 

“Guaranteed Versus Direct Lending:  The Case of Student Loans” (with Damien Moore), forthcoming in NBER book, in Measuring and Managing Federal Financial Risk, edited by D. Lucas, University of Chicago Press, 2010

 “Heterogeneity and Portfolio Choice: Theory and Evidence” (with Stephanie Curcuru, John Heaton and Damien Moore), The Handbook of Financial Econometrics, Vol 1, North Holland, 2010.

 

“How Should Public Pension Plans Invest?” (with Stephen Zeldes), American Economic Review Papers and Proceedings, May, 2009.