"Entrepreneurs’ Wealth and Firm Dynamics" Download the paper abstract Owners of privately-held firms typically invest a large amount of their personal wealth into their firm. In principle, the wealth not invested in the firm may be used as a buffer to smooth shocks to the firm. Is such buffer stock behavior observed among privately-held firm…

"The Impact of Early Grading on Academic Choices: Mechanisms and Social Implications"

"The Long-Term Effects of Management and Technology Transfer: Evidence from the US Productivity Program” abstract This paper uses a unique historical episode to assess the long-run effects of man-agement and technology transfer on firm performance. During the 1950s, as part of the Marshall Plan, the US administration sponsored management-training trips for European managers to US…

"Firms and Farms: The Impact of Agricultural Productivity on the Local Indian Economy"

"Political Connections and Market Structure"

"Pricing Algorithms and Tacit Collusion" Abstract There is an increasing tendency for firms to use pricing algorithms that speedily react to market conditions, such as the ones used by major airlines and online retailers like Amazon. I consider a dynamic model in which firms commit to pricing algorithms in the short run. Over time, their algorithms can be revealed…

"Merger Activity in Industry Equilibrium" ABSTRACT We study a dynamic industry-equilibrium model that features mergers, entry, and exit by heterogeneous firms. We show how different sources of synergies affect merger cyclicality. Improvements in marginal productivity between merging firms generate a procyclical motive for mergers, while reductions in fixed costs of production generate a countercyclical one.…

"Oaxaca-Blinder type Decomposition Methods for Duration Outcomes"

"Crime and Vigilance"

"The Geography of Unconventional Innovation"

"Delisting of Pharmaceuticals from Insurance Coverage: Effects on Consumption, Pricing and Expenditures in France"

"Nonparametric Tests for Conditional Treatment Effects in Duration Outcomes"

"Quality Provision in the Presence of a BiasedIntermediary"

"Who Pays for the Minimum Wage?"

"Genetic and Economic Interaction in the Formationof Human Capital: The Case of Obesity"

"The allocation of talent: finance versus entrepreneurship"

"Comparing methods to evaluate the effects of job search assistance"