My research and policy work focuses on monetary policy and asset pricing. I work as Senior Adviser for Research & Policy at the Federal Reserve Board. Previously I held positions as a professor at University of California Berkeley, Northwestern University and University of Chicago. I have served as academic adviser to Sveriges Riksbank and a member of the academic advisory panel of the Federal Reserve Bank of San Francisco. I have been associate editor of the Journal of Finance and served as elected director of the American Finance Association and the European Finance Association. I am a member of the American Academy of Arts and Sciences and a fellow of the Econometric Society. My academic awards include the Journal of Finance Brattle prize, two outstanding paper awards from the Swiss Finance Institute, the Skandia Award, and the Holst-Knudsen Award. I received my B.A. from Aarhus University, M.Sc. from Warwick University and Ph.D. from Massachusetts Institute of Technology.