Thomas M. Eisenbach

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Affiliations

• Federal Reserve Bank of New York / Research and Statistics Group
  • EDIRC entry
  • location:

Research profile

author of:

• Sooner or Later: Timing of Monetary Policy with Heterogeneous Risk-Taking
  American Economic Review, American Economic Association (2016)
  by Dong Beom Choi & Thomas M. Eisenbach & Tanju Yorulmazer
  (ReDIF-article, aea:aecrev:v:106:y:2016:i:5:p:490-95)
• Cournot Fire Sales
  American Economic Journal: Macroeconomics, American Economic Association (2022)
  by Thomas M. Eisenbach & Gregory Phelan
  (ReDIF-article, aea:aejmac:v:14:y:2022:i:3:p:508-42)
• Fire‐Sale Spillovers and Systemic Risk
  Journal of Finance, American Finance Association (2021)
  by Fernando Duarte & Thomas M. Eisenbach
  (ReDIF-article, bla:jfinan:v:76:y:2021:i:3:p:1251-1294)
• Resource Allocation in Bank Supervision: Trade‐Offs and Outcomes
  Journal of Finance, American Finance Association (2022)
  by Thomas M. Eisenbach & David O. Lucca & Robert M. Townsend
  (ReDIF-article, bla:jfinan:v:77:y:2022:i:3:p:1685-1736)
• Macroeconomics with Financial Frictions: A Survey
  Levine's Working Paper Archive, David K. Levine (2012)
  by Markus K. Brunnermeier & Thomas M. Eisenbach & Yuliy Sannikov
  (ReDIF-paper, cla:levarc:786969000000000384)
• Bank-Intermediated Arbitrage
  CEPR Discussion Papers, C.E.P.R. Discussion Papers (2020)
  by Boyarchenko, Nina & Eisenbach, Thomas & Gupta, Pooja & Shachar, Or & Van Tassel, Peter
  (ReDIF-paper, cpr:ceprdp:15097)
• Horizon-Dependent Risk Aversion and the Timing and Pricing of Uncertainty
  CEPR Discussion Papers, C.E.P.R. Discussion Papers (2024)
  by Andries, Marianne & Eisenbach, Thomas & Schmalz, Martin
  (ReDIF-paper, cpr:ceprdp:19196)
• Flexibility as an Instrument in Digital Rights Management
  Cowles Foundation Discussion Papers, Cowles Foundation for Research in Economics, Yale University (2005)
  by Dirk Bergemann & Thomas Eisenbach & Joan Feigenbaum & Scott Shenker
  (ReDIF-paper, cwl:cwldpp:1505)
• Pricing under the Threat of Piracy: Flexibility and Platforms for Digital Goods
  Cowles Foundation Discussion Papers, Cowles Foundation for Research in Economics, Yale University (2011)
  by Dirk Bergemann & Thomas Eisenbach & Joan Feigenbaum & Scott Shenker
  (ReDIF-paper, cwl:cwldpp:1834)
• Anxiety in the face of risk
  Journal of Financial Economics, Elsevier (2016)
  by Eisenbach, Thomas M. & Schmalz, Martin C.
  (ReDIF-article, eee:jfinec:v:121:y:2016:i:2:p:414-426)
• Rollover risk as market discipline: A two-sided inefficiency
  Journal of Financial Economics, Elsevier (2017)
  by Eisenbach, Thomas M.
  (ReDIF-article, eee:jfinec:v:126:y:2017:i:2:p:252-269)
• Cyber risk and the U.S. financial system: A pre-mortem analysis
  Journal of Financial Economics, Elsevier (2022)
  by Eisenbach, Thomas M. & Kovner, Anna & Lee, Michael Junho
  (ReDIF-article, eee:jfinec:v:145:y:2022:i:3:p:802-826)
• Watering a lemon tree: Heterogeneous risk taking and monetary policy transmission
  Journal of Financial Intermediation, Elsevier (2021)
  by Choi, Dong Beom & Eisenbach, Thomas M. & Yorulmazer, Tanju
  (ReDIF-article, eee:jfinin:v:47:y:2021:i:c:s1042957320300279)
• Runs and Flights to Safety: Are Stablecoins the New Money Market Funds?
  Supervisory Research and Analysis Working Papers, Federal Reserve Bank of Boston (2023)
  by Kenechukwu E. Anadu & Pablo D. Azar & Catherine Huang & Marco Cipriani & Thomas M. Eisenbach & Gabriele La Spada & Mattia Landoni & Marco Macchiavelli & Antoine Malfroy-Camine & J. Christina Wang
  (ReDIF-paper, fip:fedbqu:97034)
• Runs and Flights to Safety: Are Stablecoins the New Money Market Funds?
  Working Papers, Federal Reserve Bank of Boston (2023)
  by Kenechukwu E. Anadu & Pablo D. Azar & Catherine Huang & Marco Cipriani & Thomas M. Eisenbach & Gabriele La Spada & Mattia Landoni & Marco Macchiavelli & Antoine Malfroy-Camine & J. Christina Wang
  (ReDIF-paper, fip:fedbwp:97050)
• Stability of funding models: an analytical framework
  Economic Policy Review, Federal Reserve Bank of New York (2014)
  by Thomas M. Eisenbach & Todd Keister & James J. McAndrews & Tanju Yorulmazer
  (ReDIF-article, fip:fednep:00007)
• Supervising large, complex financial institutions: what do supervisors do?
  Economic Policy Review, Federal Reserve Bank of New York (2017)
  by Thomas M. Eisenbach & Andrew F. Haughwout & Beverly Hirtle & Anna Kovner & David O. Lucca & Matthew Plosser
  (ReDIF-article, fip:fednep:00041)
• When It Rains, It Pours: Cyber Vulnerability and Financial Conditions
  Economic Policy Review, Federal Reserve Bank of New York (2025)
  by Thomas M. Eisenbach & Anna Kovner & Michael Junho Lee
  (ReDIF-article, fip:fednep:99463)
• Banking System Vulnerability: Annual Update
  Liberty Street Economics, Federal Reserve Bank of New York (2019)
  by Kristian S. Blickle & Fernando M. Duarte & Thomas M. Eisenbach & Anna Kovner
  (ReDIF-paper, fip:fednls:86690)
• In a Relationship: Evidence of Underwriters’ Efforts to Stabilize the Share Price in the Facebook IPO
  Liberty Street Economics, Federal Reserve Bank of New York (2012)
  by Thomas M. Eisenbach & David O. Lucca & Karen Shen
  (ReDIF-paper, fip:fednls:86834)
• What Makes a Bank Stable? A Framework for Analysis
  Liberty Street Economics, Federal Reserve Bank of New York (2014)
  by Thomas M. Eisenbach & Tanju Yorulmazer
  (ReDIF-paper, fip:fednls:86927)
• Factors that Affect Bank Stability
  Liberty Street Economics, Federal Reserve Bank of New York (2014)
  by Thomas M. Eisenbach & Tanju Yorulmazer
  (ReDIF-paper, fip:fednls:86928)
• On Fire-Sale Externalities, TARP Was Close to Optimal
  Liberty Street Economics, Federal Reserve Bank of New York (2014)
  by Fernando M. Duarte & Thomas M. Eisenbach
  (ReDIF-paper, fip:fednls:86940)
• At the N.Y. Fed: Workshop on the Risks of Wholesale Funding
  Liberty Street Economics, Federal Reserve Bank of New York (2014)
  by Dong Beom Choi & Patrick de Fontnouvelle & Thomas M. Eisenbach & Michael J. Fleming
  (ReDIF-paper, fip:fednls:86972)
• Have Dealers' Strategies in the GCF Repo® Market Changed?
  Liberty Street Economics, Federal Reserve Bank of New York (2015)
  by Nina Boyarchenko & Thomas M. Eisenbach & Or Shachar
  (ReDIF-paper, fip:fednls:87048)
• Are Asset Managers Vulnerable to Fire Sales?
  Liberty Street Economics, Federal Reserve Bank of New York (2016)
  by Nicola Cetorelli & Fernando M. Duarte & Thomas M. Eisenbach
  (ReDIF-paper, fip:fednls:87101)
• Quantifying Potential Spillovers from Runs on High-Yield Funds
  Liberty Street Economics, Federal Reserve Bank of New York (2016)
  by Nicola Cetorelli & Fernando M. Duarte & Thomas M. Eisenbach & Emily Eisner
  (ReDIF-paper, fip:fednls:87103)
• The Economics of Bank Supervision: So Much to Do, So Little Time
  Liberty Street Economics, Federal Reserve Bank of New York (2016)
  by Thomas M. Eisenbach & David O. Lucca & Robert M. Townsend
  (ReDIF-paper, fip:fednls:87118)
• Mission Almost Impossible: Developing a Simple Measure of Pass-Through Efficiency
  Liberty Street Economics, Federal Reserve Bank of New York (2017)
  by Gara Afonso & Adam Biesenbach & Thomas M. Eisenbach
  (ReDIF-paper, fip:fednls:87221)
• What Makes a Safe Asset Safe?
  Liberty Street Economics, Federal Reserve Bank of New York (2017)
  by Thomas M. Eisenbach & Sebastian Infante
  (ReDIF-paper, fip:fednls:87228)
• Bank-Intermediated Arbitrage
  Liberty Street Economics, Federal Reserve Bank of New York (2018)
  by Nina Boyarchenko & Thomas M. Eisenbach & Pooja Gupta & Or Shachar & Peter Van Tassel
  (ReDIF-paper, fip:fednls:87290)
• Ten Years after the Crisis, Is the Banking System Safer?
  Liberty Street Economics, Federal Reserve Bank of New York (2018)
  by Dong Beom Choi & Fernando M. Duarte & Thomas M. Eisenbach & James Vickery
  (ReDIF-paper, fip:fednls:87293)
• Since the Financial Crisis, Aggregate Payments Have Co-moved with Aggregate Reserves. Why?
  Liberty Street Economics, Federal Reserve Bank of New York (2019)
  by Thomas M. Eisenbach & Kyra Frye & Helene Hall
  (ReDIF-paper, fip:fednls:87361)
• How Has Post-Crisis Banking Regulation Affected Hedge Funds and Prime Brokers?
  Liberty Street Economics, Federal Reserve Bank of New York (2020)
  by Nina Boyarchenko & Thomas M. Eisenbach & Pooja Gupta & Or Shachar & Peter Van Tassel
  (ReDIF-paper, fip:fednls:88932)
• How Has COVID-19 Affected Banking System Vulnerability?
  Liberty Street Economics, Federal Reserve Bank of New York (2020)
  by Kristian S. Blickle & Matteo Crosignani & Fernando M. Duarte & Thomas M. Eisenbach & Fulvia Fringuellotti & Anna Kovner
  (ReDIF-paper, fip:fednls:89056)
• How Does Market Power Affect Fire-Sale Externalities?
  Liberty Street Economics, Federal Reserve Bank of New York (2021)
  by Thomas M. Eisenbach & Gregory Phelan
  (ReDIF-paper, fip:fednls:93336)
• Banking System Vulnerability through the COVID-19 Pandemic
  Liberty Street Economics, Federal Reserve Bank of New York (2021)
  by Matteo Crosignani & Thomas M. Eisenbach & Fulvia Fringuellotti
  (ReDIF-paper, fip:fednls:93358)
• How Can Safe Asset Markets Be Fragile?
  Liberty Street Economics, Federal Reserve Bank of New York (2022)
  by Thomas M. Eisenbach & Gregory Phelan
  (ReDIF-paper, fip:fednls:94734)
• Banking System Vulnerability: 2022 Update
  Liberty Street Economics, Federal Reserve Bank of New York (2022)
  by Matteo Crosignani & Thomas M. Eisenbach & Fulvia Fringuellotti
  (ReDIF-paper, fip:fednls:95088)
• Runs on Stablecoins
  Liberty Street Economics, Federal Reserve Bank of New York (2023)
  by Kenechukwu E. Anadu & Pablo D. Azar & Catherine Huang & Marco Cipriani & Thomas M. Eisenbach & Gabriele La Spada & Mattia Landoni & Marco Macchiavelli & Antoine Malfroy-Camine & J. Christina Wang
  (ReDIF-paper, fip:fednls:96471)
• Banking System Vulnerability: 2023 Update
  Liberty Street Economics, Federal Reserve Bank of New York (2023)
  by Matteo Crosignani & Thomas M. Eisenbach & Fulvia Fringuellotti
  (ReDIF-paper, fip:fednls:97313)
• Stablecoins and Crypto Shocks
  Liberty Street Economics, Federal Reserve Bank of New York (2024)
  by Kenechukwu E. Anadu & Pablo D. Azar & Catherine Huang & Marco Cipriani & Thomas M. Eisenbach & Gabriele La Spada & Mattia Landoni & Marco Macchiavelli & Antoine Malfroy-Camine & J. Christina Wang
  (ReDIF-paper, fip:fednls:97932)
• Banking System Vulnerability: 2024 Update
  Liberty Street Economics, Federal Reserve Bank of New York (2024)
  by Matteo Crosignani & Thomas M. Eisenbach & Fulvia Fringuellotti
  (ReDIF-paper, fip:fednls:99056)
• Anatomy of the Bank Runs in March 2023
  Liberty Street Economics, Federal Reserve Bank of New York (2024)
  by Marco Cipriani & Thomas M. Eisenbach & Anna Kovner
  (ReDIF-paper, fip:fednls:99352)
• Rollover risk as market discipline: a two-sided inefficiency
  Staff Reports, Federal Reserve Bank of New York (2013)
  by Thomas M. Eisenbach
  (ReDIF-paper, fip:fednsr:597)
• Anxiety in the face of risk
  Staff Reports, Federal Reserve Bank of New York (2013)
  by Thomas M. Eisenbach & Martin C. Schmalz
  (ReDIF-paper, fip:fednsr:610)
• Fire-sale spillovers and systemic risk
  Staff Reports, Federal Reserve Bank of New York (2013)
  by Fernando M. Duarte & Thomas M. Eisenbach
  (ReDIF-paper, fip:fednsr:645)
• Horizon-Dependent Risk Aversion and the Timing and Pricing of Uncertainty
  Staff Reports, Federal Reserve Bank of New York (2014)
  by Marianne Andries & Thomas M. Eisenbach & Martin C. Schmalz
  (ReDIF-paper, fip:fednsr:703)
• Anxiety and pro-cyclical risk taking with Bayesian agents
  Staff Reports, Federal Reserve Bank of New York (2015)
  by Thomas M. Eisenbach & Martin C. Schmalz
  (ReDIF-paper, fip:fednsr:711)
• Watering a lemon tree: heterogeneous risk taking and monetary policy transmission
  Staff Reports, Federal Reserve Bank of New York (2015)
  by Dong Beom Choi & Thomas M. Eisenbach & Tanju Yorulmazer
  (ReDIF-paper, fip:fednsr:724)
• Supervising large, complex financial companies: what do supervisors do?
  Staff Reports, Federal Reserve Bank of New York (2015)
  by Thomas M. Eisenbach & Andrew F. Haughwout & Beverly Hirtle & Anna Kovner & David O. Lucca & Matthew Plosser
  (ReDIF-paper, fip:fednsr:729)
• The term structure of the price of variance risk
  Staff Reports, Federal Reserve Bank of New York (2015)
  by Marianne Andries & Thomas M. Eisenbach & R. Jay Kahn & Martin C. Schmalz
  (ReDIF-paper, fip:fednsr:736)
• Resource Allocation in Bank Supervision: Trade-offs and Outcomes
  Staff Reports, Federal Reserve Bank of New York (2016)
  by Thomas M. Eisenbach & David O. Lucca & Robert M. Townsend
  (ReDIF-paper, fip:fednsr:769)
• Cournot Fire Sales
  Staff Reports, Federal Reserve Bank of New York (2018)
  by Thomas M. Eisenbach & Gregory Phelan
  (ReDIF-paper, fip:fednsr:837)
• Bank-intermediated arbitrage
  Staff Reports, Federal Reserve Bank of New York (2018)
  by Nina Boyarchenko & Thomas M. Eisenbach & Pooja Gupta & Or Shachar & Peter Van Tassel
  (ReDIF-paper, fip:fednsr:858)
• Cyber Risk and the U.S. Financial System: A Pre-Mortem Analysis
  Staff Reports, Federal Reserve Bank of New York (2020)
  by Thomas M. Eisenbach & Anna Kovner & Michael Junho Lee
  (ReDIF-paper, fip:fednsr:87390)
• When It Rains, It Pours: Cyber Risk and Financial Conditions
  Staff Reports, Federal Reserve Bank of New York (2022)
  by Thomas M. Eisenbach & Anna Kovner & Michael Junho Lee
  (ReDIF-paper, fip:fednsr:94414)
• Fragility of Safe Asset Markets
  Staff Reports, Federal Reserve Bank of New York (2022)
  by Thomas M. Eisenbach & Gregory Phelan
  (ReDIF-paper, fip:fednsr:94496)
• Runs and Flights to Safety: Are Stablecoins the New Money Market Funds?
  Staff Reports, Federal Reserve Bank of New York (2023)
  by Kenechukwu E. Anadu & Pablo D. Azar & Catherine Huang & Marco Cipriani & Thomas M. Eisenbach & Gabriele La Spada & Mattia Landoni & Marco Macchiavelli & Antoine Malfroy-Camine & J. Christina Wang
  (ReDIF-paper, fip:fednsr:96880)
• Tracing Bank Runs in Real Time
  Staff Reports, Federal Reserve Bank of New York (2024)
  by Marco Cipriani & Thomas M. Eisenbach & Anna Kovner
  (ReDIF-paper, fip:fednsr:98373)
• Anatomy of the Bank Runs in March 2023
  Richmond Fed Economic Brief, Federal Reserve Bank of Richmond (2024)
  by Marco Cipriani & Thomas M. Eisenbach & Anna Kovner
  (ReDIF-article, fip:fedreb:99273)
• Tracing Bank Runs in Real Time
  Working Paper, Federal Reserve Bank of Richmond (2024)
  by Marco Cipriani & Thomas M. Eisenbach & Anna Kovner
  (ReDIF-paper, fip:fedrwp:98842)
• Macroeconomics with Financial Frictions: A Survey
  NBER Working Papers, National Bureau of Economic Research, Inc (2012)
  by Markus K. Brunnermeier & Thomas M. Eisenbach & Yuliy Sannikov
  (ReDIF-paper, nbr:nberwo:18102)
• The Economics of Bank Supervision
  NBER Working Papers, National Bureau of Economic Research, Inc (2016)
  by Thomas M. Eisenbach & David O. Lucca & Robert M. Townsend
  (ReDIF-paper, nbr:nberwo:22201)
• Horizon-Dependent Risk Aversion and the Timing and Pricing of Uncertainty
  The Review of Financial Studies, Society for Financial Studies (2024)
  by Marianne Andries & Thomas M Eisenbach & Martin C Schmalz
  (ReDIF-article, oup:rfinst:v:37:y:2024:i:11:p:3272-3334.)
• Anxiety in the Face of Risk
  Working Papers, Princeton University, Department of Economics, Econometric Research Program. (2011)
  by Thomas M. Eisenbach & Martin C. Schmalz
  (ReDIF-paper, pri:metric:wp029_2011_eisenbach_schmalz.pdf)
• Fire-Sale Spillovers and Systemic Risk
  2014 Meeting Papers, Society for Economic Dynamics (2014)
  by Thomas Eisenbach & Fernando Duarte
  (ReDIF-paper, red:sed014:541)
• Asset Pricing with Horizon-Dependent Risk Aversion
  2015 Meeting Papers, Society for Economic Dynamics (2015)
  by Thomas Eisenbach & Martin Schmalz & Marianne Andries
  (ReDIF-paper, red:sed015:1069)
• The Term Structure of the Price of Variance Risk
  2017 Meeting Papers, Society for Economic Dynamics (2017)
  by Yichuan Wang & Thomas Eisenbach & Martin Schmalz & Marianne Andries
  (ReDIF-paper, red:sed017:1641)
• Cournot Fire Sales
  Department of Economics Working Papers, Department of Economics, Williams College (2018)
  by Thomas M. Eisenbach & Gregory Phelan
  (ReDIF-paper, wil:wileco:2018-01)
• Cournot Fire Sales
  Department of Economics Working Papers, Department of Economics, Williams College (2020)
  by Thomas M. Eisenbach & Gregory Phelan
  (ReDIF-paper, wil:wileco:2020-10)