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Matt Darst

Principal Economist Macroprudential Policy Analysis Section Financial Stability
202-245-4238
[email protected]

Education

  • Ph.D., Economics, George Washington University, 2015
Current Research Topics
  • Intermediation and information frictions
  • Financial frictions and monetary policy transmission
  • Principal Economist

    Board of Governors of the Federal Reserve System

    2021 - present
  • Senior Economist

    Board of Governors of the Federal Reserve System

    2018 - present
  • Economist

    Board of Governors of the Federal Reserve System

    2015 - 2018
  • Economist

    Bureau of Labor Statistics

    2004 - 2008
  • Moldy Lemons and Market Shutdowns
    Jin-Wook Chang and R. Matthew Darst
    Finance and Economics Discussion Series (2022)
    https://doi.org/10.17016/FEDS.2022.013
  • A Macroprudential Perspective on the Regulatory Boundaries of U.S. Financial Assets
    David M. Arseneau, Grace Brang, Matt Darst, Jacob M. M. Faber, David E. Rappoport, and Alexandros Vardoulakis
    Finance and Economics Discussion Series (2022)
    https://doi.org/10.17016/FEDS.2022.002
  • Risk-Taking and Monetary Policy Transmission: Evidence from Loans to SMEs and Large Firms
    Cecilia R. Caglio, R. Matthew Darst, and Ṣebnem Kalemli-Özcan
    NBER Working Paper Series (2021)
    https://doi.org/10.3386/w28685
  • Banks, Non Banks, and Lending Standards
    Matthew R. Darst, Ehraz Refayet, and Alexandros Vardoulakis
    Finance and Economics Discussion Series (2020)
    https://doi.org/10.17016/FEDS.2020.086
  • Mixed Signals: Investment Distortions with Adverse Selection
    R. Matthew Darst and Ehraz Refayet
    Finance and Economics Discussion Series (2019)
    https://doi.org/10.17016/FEDS.2019.044
  • Half-full or Half-empty? Financial Institutions, CDS Use, and Corporate Credit Risk
    Cecilia Caglio, R. Matthew Darst, and Eric Parolin
    Journal of Financial Intermediation (2019)
    https://doi.org/10.1016/j.jfi.2019.03.001
    See also » FRB Working Paper (2018)
  • A Model of Endogenous Debt Maturity with Heterogeneous Beliefs
    R. Matthew Darst and Ehraz Refayet
    Finance and Economics Discussion Series (2019)
    https://doi.org/10.17016/FEDS.2017.057r1
  • Credit Default Swaps in General Equilibrium: Endogenous Default and Credit‐Spread Spillovers
    R. Matthew Darst and Ehraz Refayet
    Journal of Money, Credit and Banking (2018)
    https://doi.org/10.1111/jmcb.12507
  • A Look Under the Hood How Banks Use Credit Default Swaps
    Cecilia Caglio, Matt Darst, and Eric Parolin
    FEDS Notes (2016)
    https://doi.org/10.17016/2380-7172.1865
  • Credit Default Swaps in General Equilibrium: Spillovers, Credit Spreads, and Endogenous Default
    R. Matthew Darst and Ehraz Refayet
    Finance and Economics Discussion Series (2016)
    https://doi.org/10.17016/FEDS.2016.042r1

  • conference

    2018

    Society of Economic Dynamcis

    A Model of Endogenous Debt Maturity with Heterogeneous Agents

  • conference

    2017

    25th Finance Forum, Barcelona

    Half-full or Half-empty: Financial Institutions, CDS Trading, and Corporate Credit Risk

  • discussion

    2017

    25th Finance Forum, Barcelona

    Unconventional Monetary Policy and Bank Lending Relationships

  • discussion

    2017

    Midwest Finance Association

    Liquidity and Default of Corporate Bonds over the Business Cycle

  • conference

    2017

    European Economic Association

    Half-full or Half-empty: Financial Institutions, CDS Trading, and Corporate Credit Risk

  • conference

    2017

    Warwick University Frontiers of Finance

    Half-full or Half-empty: Financial Institutions, CDS Trading, and Corporate Credit Risk

  • conference

    2016

    14th Paris Finance Meeting, Paris, FR

    The Unintended Consequences of Credit Default Swaps: Endogenous Default and Credit Spread Spillovers

  • discussion

    2016

    14th Paris Finance Meeting, Paris, FR

    Margin Requirements and Equity Option Returns

  • conference

    2016

    Midwest Macro Annual Fall Meeting, Federal Reserve Bank of Kansas City

    Maturity Dispersion and Optimal Debt Liability Structure

  • conference

    2016

    48th Annual Money, Macro, and Finance Conference, University of Bath, UK

    Maturity Dispersion and Optimal Debt Liability Structure

  • conference

    2015

    Econometric Society, European Meeting (Milan)

    The Long and the Short of Corporate Debt Maturity: Endogenous Term Structure with CDS

  • seminar

    2015

    Board of Governors of Federal Rederal Reserve, Finance Forum

    Incomplete Markets and Credit Market Signaling

  • seminar

    2014

    Board of Governors of the Federal Reserve

    The Long and The Short of Corporate Debt Maturity: Endogenous Term-Structure with CDS

  • seminar

    2014

    International Finance and Macroeconomics Seminar - George Washington University

    The Long and The Short of Corporate Debt Maturity: Endogenous Term-Structure with CDS

  • conference

    2014

    Econometric Society - North American Summer Meeting

    The Impact of CDS on Firm Financing

  • conference

    2013

    Econometric Society/EEA - European Winter Meeting

    The Impact of CDS on Firm Financing

Awards
  • 2016

    14th Paris December Finance Meeting

    Best Paper Award - CDS in General Equilibrium

  • 2016

    International Risk, Banking, and Finance Soceity

    Best paper Award - Half-full or Half-empty: CDS and credit risk

Referee
  • Journal of Economic Theory
  • Journal of the European Economic Association
  • Journal of Money, Credit and Banking
  • Journal of Financial Intermediation
  • Journal of Futures Markets
  • North American Journal of Economics and Finance
  • Journal of Business Ethics
Professional Affiliation
  • American Economic Association
  • Econometric Society
  • European Finance Association
Last update: June 30, 2022