I have posted a draft of a new paper, "Real Yields and the Transmission of Central Bank Balance-Sheet Policies."  The paper investigates policy options when the nominal yield curve is constrained at its lower bound and, in particular, proposes inflation-indexed term lending as a potential way to provide stimulus in that environment.  Comments welcome!

The paper was recently presented at the Fed System Committee on Macroeconomics and at the Chicago Fed.  Slides for the latter presentation available here.

At the conference for the Research Handbook of Financial Markets, I discussed Burgess, Passmore, and Sherlund's chapter on Government Agencies.

Stefania D'Amico and I are preparing a chapter on Inflation Hedging for the same handbook -- stay tuned!

There is now a revised version of "Securities Financing and Asset Markets" (with Tomas Breach) that incorporates data from the COVID crisis.  Comments still welcome!