Publications

Financial Intermediaries and Monetary Economics
With Hyun Song Shin
Handbook of Monetary Economics, Forthcoming
See also ››
Previously circulated as Federal Reserve Bank of New York Staff Reports, No. 398, October 2009

Money, Liquidity and Monetary Policy
With Hyun Song Shin
American Economic Review, Volume 99, Issue 2, May 2009
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Previously circulated as Federal Reserve Bank of New York Staff Reports, No. 360, January 2009

Liquidity and Leverage
With Hyun Song Shin
Journal of Financial Intermediation, Forthcoming
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Previously circulated as Federal Reserve Bank of New York Staff Reports, No. 328, May 2008

Monetary Tightening Cycles and the Predictability of Economic Activity  
With Arturo Estrella
Economics Letters, Volume 99, Issue 2, May 2008,
pages 260-264
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updated version circulated as: Federal Reserve Bank of New York Staff Reports, No. 397, October 2009

Stock Returns and Volatility: Pricing the Short-Run and Long-Run Components of Market Risk
With Joshua Rosenberg
Journal of Finance, Journal of Finance, Volume 63, Issue 6, December 2008, pp. 2997-3030
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Previously circulated as Federal Reserve Bank of New York Staff Reports, No. 254, Revised: February 2008

Disagreement and Learning in a Dynamic Contracting Model
With Mark Westerfield
Review of Financial Studies, Forthcoming
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Previously circulated as Federal Reserve Bank of New York Staff Reports, No. 269.
Received the WFA/CRA International 2007 Best Paper in Corporate Finance Award.

Inference, Arbitrage, and the Volatility of Asset Prices
Journal of Financial Intermediation, Volume 18, Issue 1, January 2009, pp. 49-64
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Previously circulated as Federal Reserve Bank of New York Staff Reports, No. 187, August 2007

Learning about Beta: Time-varying Factor Loadings, Expected Returns, and the Conditional CAPM
With Francesco Franzoni
Journal of Empirical Finance, 16 (4), p.537-556, Sep 2009
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Previously circulated as Federal Reserve Bank of New York Staff Reports, No. 193, September 2004

The Degree of Openness and the Costs of Fixing the Exchange Rate
With Daniel Gros
Economics Letters 83, pp. 141-146 (2004)

A Stochastic Model of Self-Fulfilling Crisis in Fixed Exchange Rate Systems
With Daniel Gros
International Journal of Finance and Economics 4, pp. 129-146 (1999)

Tobias Adrian's CV

The views expressed in the papers listed on this page are those of the author(s) and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System.