工作论文 PAPERS
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Non-Standard Choice in Matching Markets
We explore the possibility of designing matching mechanisms that can accommodate non-standard choice behavior We p
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Beyond Dividing the Pie: Multi-Issue Bargaining in the Laboratory
We design a laboratory experiment to study bargaining behavior when negotiations involve multiple issues Parties m
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Price Rigidities and the Value of Public Information
AbstractFirms’ inflexibility in adjusting output prices to economic shocks exacerbates information asymmetry abo
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Punish One, Teach A Hundred: The Sobering Effect of Punishment on the Unpunis...
Direct experience of a peer’s punishment might have a sobering effect above and beyond deterrence (informatio
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Internal Capital Markets and the Transmission of Exchange-Rate Shocks
Liquidity-constrained large shareholders often reallocate capital within business groups to finance their own project
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Regime Shifts in a Long-run Risks Model of U.S. Stock and Treasury Bond Marke...
We study the joint determinants of stock and bond returns in a long-run risks model framework with regime shifts
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The Unmeasured Finance in Misallocation
This paper documents a large overestimation of measured finance misallocation (Whited and Zhao, 2021) when lease-induced debt is ignored among US manufacturing firms Appropriately accounting for leases on the liability side translates into a 5 5% real va
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Turbulent Business Cycles
Recessions are associated with sharp increases in turbulence that reshuffle firms’ productivity rankings To s
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Trust and Contracts: Empirical Evidence
Trust between parties should drive contract design: if parties were suspicious about each others’ reaction to
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Estimation of Characteristics-based Quantile Factor Models
This paper studies the estimation of characteristic-based quantile factor models In these models, the factor loadi