Anna Cieslak

Duke University - Fuqua School of Business

Associate Professor

Box 90120

Durham, NC 27708-0120

United States

https://sites.google.com/site/ancieslak/

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

  • Duke University - Fuqua School of Business

    • Email
    • Tel: 919 660 7879

  • National Bureau of Economic Research (NBER)

SCHOLARLY PAPERS

17

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20,402

TOTAL CITATIONS
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Top 1,469

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478

Scholarly Papers (17)

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1.

Expected Returns in Treasury Bonds

Number of pages: 60 Posted: 15 Nov 2010 Last Revised: 02 Apr 2015
Anna Cieslak and Pavol Povala
Duke University - Fuqua School of Business and Allocation Strategy Ltd.
Downloads 3,925 (5,821)
Citation 118

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term premia, bond return forecasting factor

2.

Stock Returns Over the FOMC Cycle

Journal of Finance, Forthcoming
Number of pages: 57 Posted: 08 Nov 2015 Last Revised: 08 Jun 2019
Anna Cieslak, Adair Morse and Annette Vissing-Jorgensen
Duke University - Fuqua School of Business, University of California, Berkeley - Haas School of Business and Federal Reserve Board
Downloads 3,142 (8,388)
Citation 77

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Monetary Policy, Federal Reserve, FOMC, Communication, Stock Returns

3.

The Economics of the Fed Put

Downloads 2,165 (15,174)
Citation 23

The Economics of the Fed Put

Number of pages: 94 Posted: 14 Apr 2017 Last Revised: 17 Jun 2020
Anna Cieslak and Annette Vissing-Jorgensen
Duke University - Fuqua School of Business and Federal Reserve Board
Downloads 2,065 (16,045)
Citation 23

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Fed Put, Monetary Policy, Stock Market, Textual Analysis, Taylor Rules

The Economics of the Fed Put

NBER Working Paper No. w26894
Number of pages: 67 Posted: 30 Mar 2020 Last Revised: 26 Jun 2023
Anna Cieslak and Annette Vissing-Jorgensen
Duke University - Fuqua School of Business and Federal Reserve Board
Downloads 100 (562,156)

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4.

Information in the Term Structure of Yield Curve Volatility

Journal of Finance, Forthcoming
Number of pages: 53 Posted: 20 Aug 2009 Last Revised: 17 Jul 2015
Anna Cieslak and Pavol Povala
Duke University - Fuqua School of Business and Allocation Strategy Ltd.
Downloads 1,927 (18,285)
Citation 15

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yield curve, stochastic volatility

5.

Common Shocks in Stocks and Bonds

Number of pages: 90 Posted: 27 Jun 2019 Last Revised: 16 Nov 2020
Anna Cieslak and Hao Pang
Duke University - Fuqua School of Business and University of Texas at Dallas - Naveen Jindal School of Management
Downloads 1,529 (26,073)
Citation 4

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6.

Short-Rate Expectations and Unexpected Returns in Treasury Bonds

Review of Financial Studies, Forthcoming
Number of pages: 77 Posted: 28 Mar 2013 Last Revised: 04 May 2018
Anna Cieslak
Duke University - Fuqua School of Business
Downloads 1,413 (29,335)
Citation 41

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short-rate expectations, forecast errors, bond risk premia, real rate, predictability

7.

Policymakers' Uncertainty

Downloads 1,213 (36,593)

Policymakers' Uncertainty

Number of pages: 74 Posted: 11 Oct 2021 Last Revised: 12 Sep 2024
Anna Cieslak, Stephen Hansen, Michael McMahon and Song Xiao
Duke University - Fuqua School of Business, University College London - Department of Economics, University of Oxford - Department of Economics and London School of Economics & Political Science (LSE)
Downloads 1,208 (36,204)

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uncertainty, monetary policy, Federal Reserve

Policymakers' Uncertainty

NBER Working Paper No. w31849
Number of pages: 47 Posted: 13 Nov 2023
Anna Cieslak, Stephen Hansen, Michael McMahon and Song Xiao
Duke University - Fuqua School of Business, University College London - Department of Economics, University of Oxford - Department of Economics and London School of Economics & Political Science (LSE)
Downloads 5 (1,326,979)
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8.

Inflation and Asset Returns

Downloads 1,161 (39,013)
Citation 5

Inflation and Asset Returns

Annual Review of Financial Economics, Vol. 15, pp. 433-448, 2023
Posted: 07 Nov 2023
Anna Cieslak, Carolin E. Pflueger and Carolin E. Pflueger
Duke University - Fuqua School of Business and National Bureau of Economic Research (NBER)University of Chicago - Harris School of Public Policy

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Inflation and Asset Returns

Number of pages: 23 Posted: 15 Nov 2022 Last Revised: 09 May 2024
Anna Cieslak, Carolin E. Pflueger and Carolin E. Pflueger
Duke University - Fuqua School of Business and National Bureau of Economic Research (NBER)University of Chicago - Harris School of Public Policy
Downloads 949 (51,127)
Citation 5

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inflation, risk premia, expectations

Inflation and Asset Returns

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2023-34
Number of pages: 25 Posted: 15 Mar 2023
Anna Cieslak, Carolin E. Pflueger and Carolin E. Pflueger
Duke University - Fuqua School of Business and National Bureau of Economic Research (NBER)University of Chicago - Harris School of Public Policy
Downloads 199 (317,465)

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Inflation and Asset Returns

NBER Working Paper No. w30982
Number of pages: 24 Posted: 13 Mar 2023 Last Revised: 05 Apr 2023
Anna Cieslak, Carolin E. Pflueger and Carolin E. Pflueger
Duke University - Fuqua School of Business and National Bureau of Economic Research (NBER)University of Chicago - Harris School of Public Policy
Downloads 13 (1,234,367)

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9.

Tough Talk: The Fed and the Risk Premium

Number of pages: 56 Posted: 25 Sep 2023 Last Revised: 21 Aug 2024
Anna Cieslak and Michael McMahon
Duke University - Fuqua School of Business and University of Oxford - Department of Economics
Downloads 1,088 (42,967)
Citation 1

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central bank communication, risk premia, Federal Reserve

10.

Non-Monetary News in Central Bank Communication

Downloads 765 (69,645)
Citation 74

Non-Monetary News in Central Bank Communication

Number of pages: 80 Posted: 05 Aug 2019
Anna Cieslak and Andreas Schrimpf
Duke University - Fuqua School of Business and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 692 (78,125)
Citation 25

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central bank communication, monetary policy shocks, yield curve, stock-bond comovement, central bank information effects, risk premia

Non-Monetary News in Central Bank Communication

BIS Working Paper No. 761
Number of pages: 59 Posted: 07 Jan 2019
Anna Cieslak and Andreas Schrimpf
Duke University - Fuqua School of Business and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 42 (894,090)
Citation 13

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central bank communication, monetary policy shocks, yield curve, stock-bond comovement, central bank information effects, risk premia

Non-Monetary News in Central Bank Communication

NBER Working Paper No. w25032
Number of pages: 57 Posted: 17 Sep 2018 Last Revised: 26 May 2023
Anna Cieslak and Andreas Schrimpf
Duke University - Fuqua School of Business and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 31 (1,002,766)
Citation 36

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11.

Inflation and Treasury Convenience

Downloads 534 (110,114)
Citation 3

Inflation and Treasury Convenience

USC Marshall School of Business Research Paper Sponsored by iORB
Number of pages: 77 Posted: 23 Nov 2023
Anna Cieslak, Wenhao Li, Carolin E. Pflueger and Carolin E. Pflueger
Duke University - Fuqua School of Business, University of Southern California - Marshall School of Business and National Bureau of Economic Research (NBER)University of Chicago - Harris School of Public Policy
Downloads 499 (118,164)
Citation 1

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Treasury convenience, inflation, demand shocks, money view, JEL classification: E44, E58, G01, G28

Inflation and Treasury Convenience

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2024-108
Number of pages: 78 Posted: 05 Sep 2024
Anna Cieslak, Wenhao Li, Carolin E. Pflueger and Carolin E. Pflueger
Duke University - Fuqua School of Business, University of Southern California - Marshall School of Business and National Bureau of Economic Research (NBER)University of Chicago - Harris School of Public Policy
Downloads 29 (1,025,300)

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Inflation and Treasury Convenience

NBER Working Paper No. w32881
Number of pages: 78 Posted: 03 Sep 2024
Anna Cieslak, Wenhao Li, Carolin E. Pflueger and Carolin E. Pflueger
Duke University - Fuqua School of Business, University of Southern California - Marshall School of Business and National Bureau of Economic Research (NBER)University of Chicago - Harris School of Public Policy
Downloads 6 (1,318,271)
Citation 2
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12.

Nominal Term Spread, Real Rate and Consumption Growth

Number of pages: 65 Posted: 04 Jan 2013 Last Revised: 13 Feb 2015
Anna Cieslak and Pavol Povala
Duke University - Fuqua School of Business and Allocation Strategy Ltd.
Downloads 534 (110,114)
Citation 2

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Real interest rate, term structure of interest rates, Euler equation, elasticity of intertemporal substitution

13.

Policy Announcement Design

Swiss Finance Institute Research Paper No. 20-17
Number of pages: 61 Posted: 08 Jan 2020 Last Revised: 06 Aug 2020
Anna Cieslak, Semyon Malamud and Andreas Schrimpf
Duke University - Fuqua School of Business, Ecole Polytechnique Federale de Lausanne and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 499 (119,639)
Citation 3

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Central Bank Announcements, Learning, Bayesian Persuasion, Information Design

14.

Optimal Transport of Information

Downloads 224 (285,009)

Optimal Transport of Information

Swiss Finance Institute Research Paper No. 21-15
Number of pages: 72 Posted: 23 Feb 2021 Last Revised: 08 Mar 2021
Semyon Malamud, Anna Cieslak and Andreas Schrimpf
Ecole Polytechnique Federale de Lausanne, Duke University - Fuqua School of Business and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 218 (291,011)

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Bayesian Persuasion, Information Design, Signalling, Optimal Transport

Optimal Transport of Information

CEPR Discussion Paper No. DP15859
Number of pages: 73 Posted: 01 Mar 2021 Last Revised: 15 Mar 2021
Anna Cieslak, Semyon Malamud and Andreas Schrimpf
Duke University - Fuqua School of Business, Ecole Polytechnique Federale de Lausanne and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 6 (1,318,271)
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15.

Did I Make Myself Clear? The Fed and the Market in the Post-2020 Framework Period

Number of pages: 71 Posted: 27 Aug 2024
Anna Cieslak, Michael McMahon and Hao Pang
Duke University - Fuqua School of Business, University of Oxford - Department of Economics and University of Texas at Dallas - Naveen Jindal School of Management
Downloads 207 (307,088)

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16.

Common Shocks in Stocks and Bonds

Downloads 72 (676,984)
Citation 50

Common Shocks in Stocks and Bonds

NBER Working Paper No. w28184
Number of pages: 57 Posted: 05 Jul 2021 Last Revised: 06 Jul 2023
Anna Cieslak and Hao Pang
Duke University - Fuqua School of Business and University of Texas at Dallas - Naveen Jindal School of Management
Downloads 70 (698,587)
Citation 18

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Common Shocks in Stocks and Bonds

CEPR Discussion Paper No. DP14708
Number of pages: 75 Posted: 08 May 2020
Anna Cieslak and Hao Pang
Duke University - Fuqua School of Business and University of Texas at Dallas - Naveen Jindal School of Management
Downloads 2 (1,348,985)
Citation 32
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Federal Reserve, risk premia, stock-bond comovement

17.

The Economics of the Fed Put

CEPR Discussion Paper No. DP14685
Number of pages: 101 Posted: 08 May 2020
Anna Cieslak and Annette Vissing-Jorgensen
Duke University - Fuqua School of Business and Federal Reserve Board
Downloads 4 (1,280,407)
Citation 62
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Fed put, monetary policy, Stock market, Taylor rules, textual analysis