Chase Ross

Assistant Professor University of Florida

Gainesville FL

Chase Ross's research focuses on banking, the Federal Reserve and monetary policy, Treasury markets, financial stability and stablecoins.

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Biography

Chase P. Ross is an assistant professor of finance at the University of Florida's Warrington College of Business. His research focuses on banking, financial markets and monetary policy, particularly the role of financial institutions in creating and trading safe assets. His work examines U.S. Treasury markets, repo and collateral markets, central bank lending facilities, financial stability, and stablecoins and other forms of digital money. He received his Ph.D. in financial economics from Yale University. Before joining the University of Florida in 2026, he was a senior economist at the Board of Governors of the Federal Reserve System. Previously, he was an economist at Morgan Stanley.

Areas of Expertise

Hedge Funds

Asset Management

Financial Regulation

Digital Money

Cryptocurrency

Stablecoins

Government Bonds

Interest Rates

Treasury Markets

Financial Crises

Financial Stability

Financial Markets

Monetary Policy

Federal Reserve

Banking

Social

Articles

Making Money

Journal of Finance

Gorton, et al.

2026-09-11

It is hard for private agents to produce money that circulates at par with no questions asked about its backing. Stablecoins—digital tokens designed to maintain a stable value—are the newest iteration of privately produced money. We study stablecoins to understand how privately produced money develops a convenience yield.

Central Bank Access and Flight to Safety

Economics Letters

Gurrieri, et al.

2026-03-11

We examine whether access to the Federal Reserve’s Overnight Reverse Repo Facility (ON RRP) affects government money market fund flows during flight-to-safety episodes. We find that funds with ON RRP access serving sophisticated investors experience about a 1 percentage point increase in net daily flows over total assets during the March 2020 flight- to-safety episode relative to similar funds without access. The effect aligns with theoretical predictions and explains more than half of the inflows in those funds. Our results show that access to central bank deposit facilities amplifies flight-to-safety behavior.

Risk, Specialization, and Covered-Interest Parity

Journal of Finance

Moskowitz, et al.

2026-02-17

Prevailing theories of financial intermediation assume an integrated financial sector with frictionless risk sharing. However, we identify substantial risk-sharing frictions linked to intermediary specialization using currency derivatives markets as a laboratory. Using confidential supervisory data covering $25 trillion in daily bank exposures, we document imperfect hedging in banks’ FX-swap intermediation: banks rarely hedge their synthetic dollar lending with maturity-matched foreign safe assets.