The author thank his dissertation committee: Scott Baker, Alex Chinco, Ravi Jagannathan, Robert Korajczyk, and Dimitris Papanikolaou. The author also thanks Jennie Bai (discussant); Nick Bloom; Caitlin Dannhauser (discussant); Ian Dew-Becker; Simon Gloßner, Robin Greenwood, Sam Hanson, and Mina Lee (discussant); Matthew Pritsker; Adi Sunderam; Emil Siriwardane; Martin Thyrsgaard; and Luis Viceira for helpful comments.