I am an associate professor of economics (with tenure) at the University of Missouri and a visiting scholar at the Federal Reserve Bank of St. Louis. I received my Ph.D. in economics from the University of Pennsylvania and my Bachelor's degree in economics and mathematics from Duke University. I am currently on leave serving as a senior adviser and senior economist at the White House Council of Economic Advisers. My research examines the interplay between household finance and the macroeconomy with a particular emphasis on how risk, heterogeneity, and market structure shape economic outcomes. To date, much of my work has examined the macroeconomics of housing and higher education in light of the fact that mortgage debt and student loans are the two largest liabilities on household balance sheets.