Photo of Nathan Foley-Fisher

Nathan Foley-Fisher

Education

  • Ph.D., Economics, London School of Economics, 2011
  • B.Sc., Econometrics and Mathematical Economics, London School of Economics, 2004
Current Research Topics
  • Non-bank financial intermediaries
  • Sovereign debt
  • Principal Economist

    Board of Governors of the Federal Reserve System

    2018 - present
  • Adjunct Professor

    Carnegie Mellon University

    2021
  • Economist

    Board of Governors of the Federal Reserve System

    2011 - 2018
  • How Do U.S. Life Insurers Manage Liquidity in Times of Stress?
    Nathan Foley-Fisher, Nathan Heinrich, and Stéphane Verani
    FEDS Notes (2022)
    https://doi.org/10.17016/2380-7172.3161
  • Adverse Selection Dynamics in Privately-Produced Safe Debt Markets
    Nathan Foley-Fisher, Gary B. Gorton, and Stéphane Verani
    NBER Working Paper Series (2020)
    https://doi.org/10.3386/w28016
    See also » FRB Working Paper (2020)
  • Self-Fulfilling Runs: Evidence from the US Life Insurance Industry
    Nathan Foley-Fisher, Borghan Narajabad, and Stéphane Verani
    Journal of Political Economy (2020)
    https://doi.org/10.1086/708817
    See also » FRB Working Paper (2015)
  • Assessing the Size of the Risks Posed by Life Insurers' Nontraditional Liabilities
    Nathan Foley-Fisher, Borghan Narajabad, and Stephane Verani
    FEDS Notes (2019)
    https://doi.org/10.17016/2380-7172.2358
  • Over-the-Counter Market Liquidity and Securities Lending
    Nathan Foley-Fisher, Stefan Gissler, and Stéphane Verani
    Review of Economic Dynamics (2019)
    https://doi.org/10.1016/j.red.2019.02.005
    See also » FRB Working Paper (2019)
  • Securities Lending as Wholesale Funding: Evidence from the U.S. Life Insurance Industry
    Nathan Foley-Fisher, Borghan Narajabad, and Stephane Verani
    NBER Working Paper Series (2016)
    https://doi.org/10.3386/w22774
    See also » FRB Working Paper (2016)
  • Funding Agreement-Backed Securities in the Enhanced Financial Accounts
    Nathan C. Foley-Fisher, Ralf R. Meisenzahl, Borghan Narajabad, Maria G. Perozek, and Stephane H. Verani
    FEDS Notes (2016)
    https://doi.org/10.17016/2380-7172.1823
  • The Impact of Unconventional Monetary Policy on Firm Financing Constraints: Evidence from the Maturity Extension Program
    Nathan Foley-Fisher, Rodney Ramcharan, and Edison Yu
    Journal of Financial Economics (2016)
    https://doi.org/10.1016/j.jfineco.2016.07.002
    See also » FRB Working Paper (2016)
  • Sovereign Debt Guarantees and Default: Lessons From the UK and Ireland, 1920–1938
    Nathan Foley-Fisher and Eoin McLaughlin
    European Economic Review (2016)
    https://doi.org/10.1016/j.euroecorev.2016.05.010
  • Capitalising on the Irish Land Question: Land Reform and State Banking in Ireland, 1891–1938
    Nathan Foley-Fisher and Eoin McLaughlin
    Financial History Review (2016)
    https://doi.org/10.1017/S0968565016000019
  • The Impact of Unconventional Monetary Policy on Firm Financing Constraints: Evidence from the Maturity Extension Program
    Nathan Foley-Fisher, Rodney Ramcharan, and Edison Yu
    Working paper (Federal Reserve Bank of Philadelphia) (2015)
    See also » FRB Working Paper (2016)
  • U.S. Real Interest Rates and Default Risk in Emerging Economies
    Nathan Foley-Fisher and Bernardo Guimaraes
    Journal of Money, Credit and Banking (2013)
    https://doi.org/10.1111/jmcb.12033
    See also » FRB Working Paper (2012)
  • The Timing of Sovereign Defaults Over Electoral Terms
    Nathan Foley-Fisher
    International Finance Discussion Papers (2012)
    https://doi.org/10.17016/IFDP.2012.1047
  • US Real Interest Rates and Default Risk in Emerging Economies
    Nathan Foley-Fisher and Bernardo Guimaraes
    CEP Discussion Papers (2009)
    See also » FRB Working Paper (2012)
  • conference

    June 2022

    Financial Intermediation Research Society Conference

    Adverse Selection Dynamics in Privately-Produced Safe Debt Markets

  • conference

    Dec 2021

    FDIC/JFSR Bank Research Conference

    Adverse Selection Dynamics in Privately-Produced Safe Debt Markets

  • conference

    Nov 2021

    OFR and Cleveland Fed Financial Stability Conference

    Adverse Selection Dynamics in Privately-Produced Safe Debt Markets

  • conference

    June 2021

    Barcelona GSE Summer Forum Workshop on Information Asymmetries in Financial Markets

    Adverse Selection Dynamics in Privately-Produced Safe Debt Markets

  • conference

    May 2021

    SFS Cavalcade North America

    Who Limits Arbitrage?

  • conference

    September 2020

    IMF Annual Macro-Financial Research Conference

    Who Limits Arbitrage?

  • conference

    August 2020

    European Finance Association Annual Meeting

    Who Limits Arbitrage?

  • conference

    March 2020

    The Impact of Post-Crisis Regulation on Financial Markets Conference

    Securities Lending as Wholesale Funding: Evidence from the U.S. Life Insurance Industry

  • conference

    May 2019

    Macro Finance Society

    Self-fulfilling Runs: Evidence from the U.S. Life Insurance Industry

  • conference

    June 2018

    Society for Economic Dynamics Annual Meeting

    Over-the-Counter Market Liquidity and Securities Lending

  • conference

    May 2018

    SFS Cavalcade North America

    Securities Lending as Wholesale Funding: Evidence from the U.S. Life Insurance Industry

  • conference

    April 2018

    RED Fragmented Financial Markets Conference

    Over-the-Counter Market Liquidity and Securities Lending

  • conference

    April 2018

    Fixed Income and Financial Institutions Conference

    Securities Lending as Wholesale Funding: Evidence from the U.S. Life Insurance Industry

  • conference

    January 2018

    Federal Reserve "Day-Ahead" Conference on Financial Markets and Institutions

    Over-the-Counter Market Liquidity and Securities Lending

  • conference

    August 2017

    American Risk and Insurance Association Annual Meeting

    Over-the-Counter Market Liquidity and Securities Lending

  • conference

    January 2017

    American Economic Association Annual Meeting

    Securities Lending as Wholesale Funding: Evidence from the U.S. Life Insurance Industry

  • conference

    August 2016

    European Economic Association Annual Meeting

    Securities Lending as Wholesale Funding: Evidence from the U.S. Life Insurance Industry

  • conference

    August 2016

    European Finance Association Annual Meeting

    Securities Lending as Wholesale Funding: Evidence from the U.S. Life Insurance Industry

  • conference

    July 2016

    NBER Summer Institute

    Self-fulfilling Runs: Evidence from the U.S. Life Insurance Industry

  • conference

    June 2016

    Society for Economic Dynamics Annual Meeting

    Self-fulfilling Runs: Evidence from the U.S. Life Insurance Industry

  • conference

    May 2016

    NBER Conference on New Developments in Long-Term Asset Management

    Securities Lending as Wholesale Funding: Evidence from the U.S. Life Insurance Industry

  • conference

    January 2016

    IBEFA Sessions at the American Economic Association Annual Meetings

    Self-fulfilling Runs: Evidence from the U.S. Life Insurance Industry

  • conference

    October 2015

    Wharton Conference on Liquidity and Financial Crises

    Self-fulfilling Runs: Evidence from the U.S. Life Insurance Industry

  • conference

    October 2015

    Becker-Friedman Institute Conference on Financial Regulation

    Self-fulfilling Runs: Evidence from the U.S. Life Insurance Industry

  • conference

    August 2015

    European Economic Association Annual Meeting

    Self-fulfilling Runs: Evidence from the U.S. Life Insurance Industry

  • conference

    May 2015

    Financial Intermediation Research Society Conference

    Self-fulfilling Runs: Evidence from the U.S. Life Insurance Industry

  • conference

    May 2015

    Atlanta Fed/Emory University Workshop on Monetary and Financial History

    Sovereign Debt Guarantees and Default: Lessons from the UK and Ireland, 1920–1938

  • conference

    May 2015

    Royal Economic Society Conference

    Self-fulfilling Runs: Evidence from the U.S. Life Insurance Industry

Awards
  • 2009

    RIEF IX Doctoral Meeting

    Best Conference Paper in International Finance

Conference Organization
  • 2022

    FRS Conference on Financial Institutions, Regulation, and Markets

    Program Committee Member

  • 2022

    FMA Annual Meeting

    Program Committee Member

  • 2022

    FMA Applied Finance Annual Meeting

    Program Committee Member

  • 2022

    Eastern Finance Association Annual Meeting

    Program Committee Member

  • 2021

    Fed-Maryland Short-Term Funding Markets Conference

    Program Committee Member

  • 2020

    FMA Annual Meeting

    Program Committee Member

  • 2020

    FMA Applied Finance Annual Meeting

    Program Committee Member

  • 2019

    FMA Annual Meeting

    Program Committee Member

  • 2019

    FMA Applied Finance Annual Meeting

    Program Committee Member

  • 2018

    FMA Applied Finance Annual Meeting

    Program Committee Member

  • 2016

    IBEFA Summer Meeting

    Program Committee Member

Referee
  • International Economic Review
  • AEJ: Economic Policy
  • Journal of Banking and Finance
  • Journal of Development Economics
  • Fiscal Studies
  • Macroeconomic Dynamics
  • Review of Finance
  • Journal of Economic History
  • B.E. Journal of Macroeconomics
  • Management Science
  • Review of Financial Studies
  • Journal of Finance
Professional Affiliation
  • American Finance Association
  • American Economic Association
  • IBEFA
  • Econometric Society
  • European Economic Society
  • Royal Economic Society
Last update: November 14, 2022