Greg Phelan

2017 Hellman Fellow

gp4@williams.edu

Assistant Professor of Economics
Williams College

Project Title: Securitized Markets, International Capital Flows, and the effects on Welfare, Growth and Inequality

Greg Phelan will use his Hellman Fellowship to support the cost of commuting or temporarily relocating to New York City, where he will be a visiting scholar at the Federal Reserve Bank of New York (NY Fed). While at the NY Fed, Phelan will work with the bank’s International Research group. He will have access to an active seminar series, a number of economists working on similar research topics, and discussions about policy. Phelan’s research project will study how cross-country differences in credit conditions for loans used in securitized markets (loans packaged together to form assets with less idiosyncratic risk than the underlying loans themselves) affect international capital flows, welfare, growth, and inequality. The project will result in two articles to be published in academic journals within two to three years. The first article will focus on how financial integration in securitized markets affects gross flows and welfare across countries; the second will address the effects of these factors on growth and inequality.