Her research focuses on credit risk and liquidity risk in banking and the fixed-income market. She has published articles in the Journal of Finance, Review of Financial Studies, Journal of Financial Economics, and the Journal of Financial and Quantitative Analysis. Before joining Georgetown, she was an economist at the Federal Reserve Bank of New York. Currently she serves as an Advisory Council Member in the Board of Governors of the Federal Reserve and a visiting scholar to the European Central Bank. She received her Ph.D. from the University of Chicago.