Research

I research financial crises, instability & fintech.

The Real Effects of Financial Technology: Marketplace Lending and Personal Bankruptcy, (Link to paper)
with Piotr Danisewicz.

Winner of the Best Conference Paper Award at the Second Toronto Fintech Conference.
Winner of the Best Conference Paper in Finance Award at the Frontiers in Business Research in China Conference.
Policy impact:
(1) Quoted in testimony before the 115th United States Congress, 2017-2019, in the hearing “Examining Opportunities and Challenges in the Financial Technology (Fintech) Marketplace” by U.S. House of Representative’s Committee on Financial Services (Subcommittee on Financial Institutions and Consumer Credit) on the bill H.R. 3299 “Protecting Consumers’ Access to Credit Act of 2017” and bill H.R. 4439 “Modernizing Credit Opportunities Act” .  See House Financial Services Committee Report, p.157.
(2) Quoted in testimony before the 116th United States Congress, 2019-2021, at the U.S. House of Representative’s Financial Services Committee hearing on the bill H.R. 5050 (“Rent-A-Bank Schemes and New Debt Traps: Assessing Efforts to Evade State Consumer Protections and Interest Rate Cap”). See House Committee Testimony, p.3.
(3) Cited in submissions to the U.S. Treasury’s Office of the Controller of the Currency (OCC) proposed new rule “Permissible Interest on Loans That Are Sold, Assigned, or Otherwise Transferred” (12 CFR Parts 7 & 160). See OCC rule submissions, U.S. Federal Register, Vol. 84, No. 225.
(4) Cited by the U.S. Federal Deposit Insurance Corporation (FDIC) in proposed new rule for the U.S. Code of Federal Regulations “Federal Interest Rate Authority” (12 CFR Part 331). See Notice to public of proposed regulation, U.S. Federal Register, Vol. 84, No. 235, p. 6685.
Conferences and seminar presentations (selected):
Western Finance Association 2019 (Huntington Beach, CA, U.S.); Northern Finance Association 2019 (Vancouver, Canada); 2019 China Accounting and Financial Innovation Forum (Zhuhai, China); ABFER-CEPR-CUHK First Annual Symposium in Financial Economics (Hong Kong, China); Chicago Financial Institutions Conference (CFIC) 2019 (Chicago, U.S.); Annual Meeting of the Swiss Society for Financial Research (SGF) Conference 2019 (Zurich, Switzerland); The Second Toronto FinTech Conference (Toronto, Canada); Frontiers of Business Research in China conference at Renmin University (Beijing, China); Shanghai University of Finance and Economics (Shanghai, China); Federal Reserve Bank of Philadelphia Conference “Fintech and the New Financial Landscape” (Philadelphia, U.S.); The Center for Financial Innovation and Stability (Federal Reserve Bank of Atlanta) and the Center for the Economic Analysis of Risk (Georgia State University) Conference “Financial Stability Implications of New Technology” (Atlanta, U.S.); International Rome Conference on Money, Banking and Finance (Rome, Italy).

Media coverage:
Cato, Brookings, Politico, Mercatus Centre, Lend Academy, and Competitive Enterprise Institute.


Unconventional Monetary Policy and Asset Allocation of International Mutual Funds (Link to paper)
with Gino Cenedese, Bank of England Staff WP No. 705.


Financial Openness, Interbank Crises, and Sudden Stops of Capital Outflows
Abstract available upon request.


Three-Player Sovereign Debt Negotiations
Abstract available upon request.