Speculative manias driven by the few do not end inside abstract financial markets; they end in the quiet destruction of the ordinary lives of the many.

About

My name is Brendan Laliberte. I hold an M.S. in Finance from Cornell University, where my research focused on empirical banking research. I am currently employed by the Federal Reserve Bank of Philadelphia's Securities Evaluation Services Team. I am studying the latest round of proposed bank capital regulations, Basel III Endgame, with special focus on its the securitization framework.

I have several years of monetary policy and applied microeconomic research experience within the Federal Reserve System, supporting economists in the Banking and Financial Markets group at the Federal Reserve Bank of Kansas City and the Center for Indian Country Development at the Federal Reserve Bank of Minneapolis.

Research Interests

Broadly, I am interested in how credit accessibility and affordability are shaped by the tension between financial firms’ profit-maximizing behavior and regulatory constraints. My work emphasizes how institutional design and legal frameworks influence risk-taking, market discipline, and financial stability. Some proxy for human welfare is always the central outcome variable in my ideas.

My thesis examines how equity and debt markets price risk at banks and nonbank financial institutions around benchmark interest rate surprises, with implications for banking regulation and monetary transmission.