Articles
Financial Fragility and Crisis Union in the Asia-Pacific Region, Global Economy Journal (2009)
We examine whether core ASEAN+3 countries might be interested in joining a financial "crisis union,"...
Joining European Monetary Union: a real options perspective, Scottish Journal of Political Economy (2007)
We examine the real option implicit in countries' decisions on whether to join a monetary...
International tax arbitrage, financial parity conditions and preferential capital gains taxation, Quantitative Finance (2005)
Using a finite-horizon general equilibrium model with uncertainty and money, we characterize situations where tax...
Leaving EMU: a real options perspective, Applied Economics (2005)
The real option implicit in a country's decision of whether to leave an existing monetary...
Monetary integration and inflation preferences: A real options analysis, European Economic Review (2005)
We use a two-country model where policymakers minimize Barro–Gordon-type loss functions over inflation, and inflation...
Unpublished Papers
Does uncertainty matter for loan charge-offs? (with Laetitia Lepetit and David G. Dickinson), Available at SSRN: http://ssrn.com/abstract=1095211 (2009)
We develop a stylized real options model of a bank's decision whether to foreclose on...
Uncertainty and Switching in the Mortgage Market (with Celine Gondat-Larralde), Available at SSRN: http://ssrn.com/abstract=1515862 (2009)
We examine when it might be optimal for borrowers to switch providers of debt products...