Chase Ross Headshot

Chase P. Ross

Senior Economist
Federal Reserve Board

[email protected]
[email protected]

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The contents of this website do not necessarily reflect the views of the Federal Reserve Board or its staff.

about

I am a senior economist at the Board of Governors of the Federal Reserve System. My research interests include asset pricing, financial intermediation, and safe assets.

I received my Ph.D. in financial economics from the Yale School of Management. Previously, I was an economist at Morgan Stanley and a research associate at the Yale Program on Financial Stability.


publications and accepted papers

Making Money
with Gary B. Gorton and Sharon Y. Ross Forthcoming, Journal of Finance Abstract · SSRN · NBER WP #29710

The Treasury Collateral Spread and Levered Safe-Asset Production
Accepted, Management Science
2020 BlackRock Applied Research Award Finalist
Abstract · SSRN

Leverage and Stablecoin Pegs
with Gary B. Gorton, Elizabeth C. Klee, Sharon Y. Ross, and Alexandros Vardoulakis
Accepted, Journal of Financial and Quantitative Analysis
Abstract · SSRN · NBER WP #30796 · VoxEU Column

Investor Information and Bank Instability During the Euro Crisis
with Silvia Iorgova
Journal of Financial Stability (2023)
Abstract · Published Version

Who Ran on Repo?
with Gary B. Gorton and Andrew Metrick
AEA Papers and Proceedings (2020)
Abstract · Published Version


working papers

Risk and Specialization in Covered-Interest Arbitrage (Updated 8/2025)
with Tobias J. Moskowitz, Sharon Y. Ross, and Kaushik Vasudevan
Revise & Resubmit, Journal of Finance Abstract · SSRN · NBER WP #32707 · FEDS WP #2024–061

Cash-Hedged Stock Returns
with Landon J. Ross and Sharon Y. Ross
Revise & Resubmit, Review of Asset Pricing Studies
2023 SWFA best paper award winner in investments
2022 FMA best paper semifinalist in investments
Abstract · SSRN · FEDS WP #2022–055 · OFR WP #22–03

Where Collateral Sleeps
with Gary B. Gorton and Sharon Y. Ross
Abstract · SSRN

Safe-Asset Migration
Abstract · SSRN


works in progress

The Fragility of Perfectly Safe Digital Money
with Elizabeth C. Klee, Arazi Lubis, Sharon Y. Ross, and Alexandros Vardoulakis
Proposal selected for presentation at the special issue conference of the Review of Finance on “The Future of Payments—CBDC, Digital Assets and Digital Capital Markets” co-organized by CEPR, ECB, and Bocconi, September 2025


© Chase P. Ross 2025 ⁂ All Rights Reserved