Meet the Economists
Sai Ma
202-452-2870
[email protected]
[email protected]
Education
- Ph.D., Economics, New York University, 2018
- M.A., Economics, University of Toronto, 2012
- B.Sc., Financial Economics, University of Toronto, 2011
Current Research Topics
- Asset Pricing with Heterogeneous Agents
- Uncertainty and Business Cycle
Economist
Board of Governors of the Federal Reserve System
2018 - present
- Ludvigson, Sydney C., Sai Ma, and Serena Ng (forthcoming). "Uncertainty and Business Cycles: Exogenous Impulse or Endogenous Response?" American Economic Journal: Macroeconomics.
- Lettau, Martin, Sydney C. Ludvigson, and Sai Ma (2019). "Capital Share Risk in U.S. Asset Pricing," The Journal of Finance, vol. 74, no. 4, pp. 1753-1792.
- Londono, Juan M., Sai Ma, and Beth Anne Wilson (2019). "Quantifying the Impact of Foreign Economic Uncertainty on the U.S. Economy," FEDS Notes 2019-10-08. Board of Governors of the Federal Reserve System (U.S.).
- Lettau, Martin, Sydney C. Ludvigson, and Sai Ma (2018). "Capital Share Risk in U.S. Asset Pricing," NBER Working Paper, no. 20744. National Bureau of Economic Research.
- Ludvigson, Sydney C., Sai Ma, and Serena Ng (2018). "Shock Restricted Structural Vector-Autoregressions," NBER Working Paper, no. 23225. National Bureau of Economic Research.
- Ludvigson, Sydney C., Sai Ma, and Serena Ng (2018). "Uncertainty and Business Cycles: Exogenous Impulse or Endogenous Response?" NBER Working Paper, no. 21803. National Bureau of Economic Research.
- Ma, Sai (2018). "Essays on Macroeconomics and Asset Pricing," Ph.D. dissertation, New York University.
Referee
- Quarterly Journal of Economics
- Review of Financial Studies
- Journal of Banking and Finance
- Oxford Bulletin of Economics and Statistics
- Journal of Macroeconomics
- European Economic Review
- Energy
- Journal of International Money and Finance
- Journal of Money, Credit, and Banking
Last update:
December 9, 2019

