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Meet the Researchers

Photo of Missaka Warusawitharana

Missaka Warusawitharana

Manager Policy Effectiveness and Assessment Section Supervision and Regulation
202-452-3461
[email protected]

Education

  • Ph.D., Finance, Wharton School, University of Pennsylvania, 2006
Current Research Topics
  • Structural corporate finance
  • Empirical banking
  • Chief, Policy Effectiveness and Assessment

    Board of Governors of the Federal Reserve System

    2017 - present
  • Group Manager, Flow of Funds

    Board of Governors of the Federal Reserve System

    2015 - 2017
  • Economist, Senior Economist and Principal Economist, Flow of Funds

    Board of Governors of the Federal Reserve System

    2006 - 2015
  • Senior Economist, Household and Business Spending

    Board of Governors of the Federal Reserve System

    2014 - 2015
  • Economist, Office of Financial Stability Policy and Research

    Board of Governors of the Federal Reserve System

    2011
  • Adjunct Assistant Professor

    Johns Hopkins University, School of Advanced International Studies

    2015 - present
  • Adjunct Assistant Professor

    Georgetown University, Economics Department

    2015
  • Adjunct Assistant Professor

    Johns Hopkins University, Economics Department

    2013
  • Impact of Leverage Ratio Relief Announcement and Expiry on Bank Stock Prices
    Ahmad Rahman and Missaka Warusawitharana
    FEDS Notes (2023)
    https://doi.org/10.17016/2380-7172.3330
  • The Monetization of Innovation
    Missaka Warusawitharana and Francesca Zucchi
    Finance and Economics Discussion Series (2022)
    https://doi.org/10.17016/FEDS.2022.084
  • COVID-19 as a stress test: Assessing the bank regulatory framework
    Elizabeth Duncan, Akos Horvath, Diana Iercosan, Bert Loudis, Alice Maddrey, Francis Martinez, Timothy Mooney, Ben Ranish, Ke Wang, Missaka Warusawitharana, and Carlo Wix
    Journal of Financial Stability (2022)
    https://doi.org/10.1016/j.jfs.2022.101016
    See also » FRB Working Paper (2021)
  • COVID-19 as a Stress Test: Assessing the Bank Regulatory Framework
    Alice Abboud, Elizabeth Duncan, Akos Horvath, Diana Iercosan, Bert Loudis, Francis Martinez, Timothy Mooney, Ben Ranish, Ke Wang, Missaka Warusawitharana, and Carlo Wix
    Finance and Economics Discussion Series (2021)
    https://doi.org/10.17016/FEDS.2021.024
  • Finance and Productivity Growth: Firm-Level Evidence
    Oliver Levine and Missaka Warusawitharana
    Journal of Monetary Economics (2021)
    https://doi.org/10.1016/j.jmoneco.2019.11.009
    See also » FRB Working Paper (2014)
  • The Costs and Benefits of Bank Capital—A Review of the Literature
    Martin Birn, Olivier de Bandt, Simon Firestone, Matías Gutiérrez Girault, Diana Hancock, Tord Krogh, Hitoshi Mio, Donald P. Morgan, Ajay Palvia, Valerio Scalone, Michael Straughan, Arzu Uluc, Alexander H. von Hafften, and Missaka Warusawitharana
    Journal of Risk and Financial Management (2020)
    https://doi.org/10.3390/jrfm13040074
  • Time-varying Volatility and the Power Law Distribution of Stock Returns
    Missaka Warusawitharana
    Journal of Empirical Finance (2018)
    https://doi.org/10.1016/j.jempfin.2018.09.004
    See also » FRB Working Paper (2016)
  • Effects of Fixed Nominal Thresholds for Enhanced Supervision
    David Hou and Missaka Warusawitharana
    FEDS Notes (2018)
    https://doi.org/10.17016/2380-7172.2183
  • Profitability and the Lifecycle of Firms
    Missaka Warusawitharana
    B.E. Journal of Macroeconomics (2018)
    https://doi.org/10.1515/bejm-2017-0124
    See also » FRB Working Paper (2012)
  • Matching Banks by Business Model, Geography and Size: A Dataset
    Mark Carlson, Molly Shatto, and Missaka Warusawitharana
    FEDS Notes (2017)
    https://doi.org/10.17016/2380-7172.2022
  • Mapping Heat in the U.S. Financial System
    David Aikman, Michael T. Kiley, Seung Jung Lee, Michael G. Palumbo, and Missaka N. Warusawitharana
    Journal of Banking & Finance (2017)
    https://doi.org/10.1016/j.jbankfin.2017.04.013
    See also » FRB Working Paper (2015)
  • Equity Market Misvaluation, Financing, and Investment
    Missaka Warusawitharana and Toni M. Whited
    Review of Financial Studies (2016)
    https://doi.org/10.1093/rfs/hhv066
    See also » FRB Working Paper (2013)
  • Research and Development, Profits and Firm Value: A Structural Estimation
    Missaka Warusawitharana
    Quantitative Economics (2015)
    https://doi.org/10.3982/QE282
    See also » FRB Working Paper (2008)
  • What is the Chance that the Equity Premium Varies over Time? Evidence from Regressions on the Dividend-Price Ratio
    Jessica A. Wachter and Missaka Warusawitharana
    Journal of Econometrics (2015)
    https://doi.org/10.1016/j.jeconom.2014.05.018
  • Capital Ratios and Bank Lending: A Matched Bank Approach
    Mark Carlson, Hui Shan, and Missaka Warusawitharana
    Journal of Financial Intermediation (2013)
    https://doi.org/10.1016/j.jfi.2013.06.003
    See also » FRB Working Paper (2011)
  • The Expected Real Return to Equity
    Missaka Warusawitharana
    Journal of Economic Dynamics & Control (2013)
    https://doi.org/10.1016/j.jedc.2013.04.003
    See also » FRB Working Paper (2011)
  • Financial Market Shocks during the Great Depression
    Alycia Chin and Missaka Warusawitharana
    Finance and Economics Discussion Series (2010)
    https://doi.org/10.17016/FEDS.2010.22
  • Financial Market Shocks during the Great Depression
    Alycia Chin and Missaka Warusawitharana
    B.E. Journal of Macroeconomics (2010)
    https://doi.org/10.2202/1935-1690.2086
    See also » FRB Working Paper (2010)
  • An Efficiency Perspective on the Gains from Mergers and Asset Purchases
    Sugata Ray and Missaka Warusawitharana
    B.E. Journal of Economic Analysis & Policy (2009)
    https://doi.org/10.2202/1935-1682.2135
    See also » FRB Working Paper (2007)
  • Predictable Returns and Asset Allocation: Should a Skeptical Investor Time the Market?
    Jessica A. Wachter and Missaka Warusawitharana
    Journal of Econometrics (2009)
    https://doi.org/10.1016/j.jeconom.2008.10.009
  • Corporate Asset Purchases and Sales: Theory and Evidence
    Missaka Warusawitharana
    Journal of Financial Economics (2008)
    https://doi.org/10.1016/j.jfineco.2007.02.005
    See also » FRB Working Paper (2007)
  • Area Under the Curve as a Measure of Discounting
    Joel Myerson, Leonard Green, and Missaka Warusawitharana
    Journal of the Experimental Analysis of Behavior (2001)
    https://doi.org/10.1901/jeab.2001.76-235
Awards
  • 2019

    Federal Reserve Board

    Chairman's Award

Conference Organization

  • 2022

    FIRS

    Programme Committee

  • 2022

    SFS Cavalcade

    Programme Committee

  • 2021

    SFS Cavalcade

    Programme Committee

  • 2020

    SFS Cavalcade

    Programme Committee

  • 2019

    SFS Cavalcade

    Programme Committee

  • 2017

    SFS Cavalcade

    Programme Committee

  • 2016

    Midwest Finance Association annual meeting

    Programme Committee

  • 2016

    SFS Cavalcade

    Programme Committee

  • 2015

    SFS Cavalcade

    Programme Committee

  • 2014

    SFS Cavalcade

    Programme Committee

  • 2011

    FMA annual meeting

    Programme Committee

  • 2007

    FMA annual meeting

    Programme Committee

Referee
  • Economic Journal
  • Economic Letters
  • Journal of Economic Dynamics & Control
  • Journal of Economic Growth
  • Journal of Finance
  • Journal of Financial Economics
  • Journal of Financial and Quantitative Analysis
  • Journal of Financial Stability
  • Journal of Industrial Economics
  • Quantitative Economics
  • Review of Finance
  • Review of Financial Studies
  • Review of Industrial Organization
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Last Update: August 2, 2024