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NYU Stern School of Business
44 West Fourth Street, 9-81
New York, NY 10012

Academic Positions

  • Assistant Professor of Finance, New York University, Stern School of Business, 2016 - Present

Other Affiliations

  • Invited Member, Macro Finance Society, 2017 – Present


  • Ph.D. Finance, UCLA Anderson School, June 2016
  • Visiting Ph.D. Student, Chicago Booth School of Business, Spring 2015
  • B.S. Applied Mathematics, University of Colorado, 2011, Magna Cum Laude

Published Papers

  • Trade Network Centrality and Currency Risk Premia. The Journal of Finance, 74(3), 2019, 1315-1361.
  • Gravity in the Exchange Rate Factor Structure, with Hanno Lustig. The Review of Financial Studies, 33(8), 2020, 3492–3540.
  • International Trade and Social Connectedness With Michael Bailey, Abhinav Gupta, Sebastian Hillenbrand, Theresa Kuchler, and Johannes Stroebel. Journal of International Economics, 129(103418), March 2021.

Working Papers

  • Which Investors Matter for Equity Valuations and Expected Returns? with Ralph Koijen and Motohiro Yogo.
  • Origins of International Factor Structures, with Zhenyang Jiang. Journal of Financial Economics, Revise and Resubmit.
  • Divided We Fall: International Health and Trade Coordination During a Pandemic With Viral Acharya, Zhenyang Jiang, and Ernst-Ludwig von Thadden.
  • A Portfolio Approach to Global Imbalances With Zhengyang Jiang and Tony Zhang. Journal of Finance, Revise and Resubmit.


  • 2021: John Hopkins University, Baruch University, Network Science Conference, Society for Economics Dynamics, Virtual Finance Workshop, London School of Economics
  • 2020: American Finance Association (x2), Columbia University, Stevens Institute of Technology, Colorado State University, Triangle Macro-Finance Workshop, University of Geneva, Duke University
  • 2019: Adam Smith Conference, NBER Long-Term Asset Management, Annual Conference on International Finance, UCLA Fink Center Conference, LSE Paul Woolley Center Conference, Columbia New Empirical Finance Workshop, NBER Summer Institute International Asset Pricing, Stanford Institute for Theoretical Economics, The University of Hong Kong, Hong Kong University of Science and Technology, CIRANO Networks Conference
  • 2018: Econometric Society Meeting at ASSA, American Finance Association, Utah Winter Finance Conference, Princeton University, UNC Chapel Hill, Boston University, NYU Stern
  • 2017: Unversity of Melbourne, Annual Conference on International Finance, Central Bank Research Conference (NBER Sponsored), Midwest Finance Association, NBER SI International Finance and Macroeconomics, NBER SI Macroeconomics within and Across Borders, CEBRA Bank of Canada Conference, INSEAD, Ohio State University, Financial Research Network Asset Pricing Meeting
  • 2016: Stanford Institute for Theoretical Economics, Western Finance Association, Annual Conference on International Finance, Chicago Booth, Northwestern Kellogg, UT Austin, MIT Sloan, Boston College, NYU Stern, Carnegie Mellon, London Business School, Imperial College London, University of Utah, Chicago Booth International Macro-Finance Conference
  • 2015: Twelfth Annual Conference on Corporate Finance at Olin School of Business, University of Colorado at Boulder, Chicago Economics Dynamics Working Group, Chicago Finance Brown Bag


NYU Stern School of Business

  • Asset Pricing PhD (Spring 2019, 2020)
  • Foundations of Finance MBA (Spring 2018, 2019, 2020)
  • Foundations of Finance Undergraduate (Spring 2017, 2018)

UCLA Anderson School of Management

  • MFE R/MATLAB Programming Workshop (Fall 2013, 2014, 2015)
Teaching Assistant
  • MFE Emprical Asset Pricing, Professor Hanno Lustig (Winter 2013, 2014)
  • MFE Quantitative Asset Management, Professor Jason Hsu (Spring 2014)
  • MBA Private Equity and Venture Capital, Professor Mark Garmaise (Winter 2012)
  • MFE Corporate Finance, Professor Mark Garmaise (Winter 2012)

University of Colorado at Boulder

Course Assistant
  • MS/BS Mathematical Statistics (Spring 2010)
  • MS/BS Statistical Computing (Fall 2010)

Honors, Awards, and Fellowships

  • Vienna Symposium on Foreign Exchange Markets Best Paper Award (2020)
  • Annual Conference on International Finance Best Paper Award (2016)
  • Cubist Systematic Strategies Ph.D. Candidate Award for Outstanding Research (2016)
  • Xavier Drèze award for most outstanding Ph.D. research paper (2016)
  • Best Finance Ph.D. Dissertation Award in Honor of Professor Stuart I. Greenbaum, Olin Business School (2015)
  • UCLA Dissertation Year Fellowship (2015-2016)
  • UCLA Anderson Fellowship (2011-2015)
  • American Finance Association Student Travel Grant (2015)
  • NSF grant for Undergraduate Mathematics research (2009-2011)
  • Participant in UC Berkeley Summer Explorations in Statistics Research (2010)


  • C. Badarinza, T. Ramadorai, C. Shimizu: Gravity, Counterparties and Foreign Investment. Western Finance Association (2020).
  • M. M. Croce, M. R. Jahan-Parvar, S. Rosen: SONOMA: a Small Open ecoNOmy for MAcrofinance. SFS Cavalcade (2019).
  • W. Du, S. Gadgil, M. Gordy, C. Vega: Counterparty Risk and Counterparty Choice in the Credit Default Swap Market. Yale Juniors Conference (2018).
  • C. Schiller: Financial Contagion in International Supply-Chain Networks. SFS Cavalcade (2018).
  • M. Dahlquist and J. Penasse: The Missing Risk Premium In Exchange Rates. Western Finance Association (2017).
  • Z. He, B. Kelly, A. Manela: Itermediary Asset Pricing: New Evidence from Many Asset Classes. American Finance Association (2017)
  • M. Boons and M. Prado: Basis-momentum in the Futures Curve and Volatility Risk. European Financial Association (2016)
  • F. Gourio, M. Siemer, and A. Verdelhan: Uncertainty and International Capital Flows. NYU Stern Volatility Institute (2016)

Professional Service

Seminar Organizer

  • Online International Finance and Macroeconomics Seminar


  • Journal of Finance, Review of Financial Studies, Journal of Financial Economics, Review of Economic Studies, Journal of International Economics, Journal of Financial and Quantitative Analysis, Journal of Financial Econometrics, Journal of Banking and Finance, Journal of Economics and Business, Journal of Empirical Finance, Review of Finance, Review of Asset Pricing Studies

Program Committee

  • Colorado Finance Summit, European Finance Association, Financial Intermediation Research Society, SFS Cavalcade