Working papers

Financial Stability Policies and Bank Lending: Quasi-Experimental Evidence from Federal Reserve Interventions in 1920-21
What You Owe or Who You Know? The Recipients of Central Bank Liquidity during the English Crisis of 1847
Who Talks During Monetary Policy Quiet Periods, and Why? Evidence from the European Central Bank’s Governing Council
  • With P. Gnan, WU Vienna
  • Download paper: first draft available on demand to Eurosystem staff
Mechanics and Effects of Central Bank Credit Rationing: Quasi-Experimental Evidence from the Bank of England’s Lending Policies during the Crisis of 1847
A Historic(al) Run on Repo: Causes of Bank Distress during the Austro-Hungarian Gründerkrach of 1873 
Haunting the Specter of Credit Rationing: Unconventional Last Resort Lending during the Austro-Hungarian Gründerkrach of 1873
Managing Moral Hazard in Last Resort Lending: Credit Limits as Contingent Rules at the Austro-Hungarian Bank (with C. Jobst, University of Vienna)
Was there a Farm Channel to the Great Depression in the United States? New Evidence from County-Level Data on Farm Foreclosures

Ongoing Research Projects

The Vienna Real Estate Market, 1868-1990: The First Long-run real estate price index for Austria (running 2018-2021)
Financial Network Topology and Historical Market Crashes: Evidence from the Austro-Hungarian Gründerkrach of 1873