Publications

How EU Markets Became Free: A Study of Institutional Drift with Thomas Philippon. Journal of the European Economic Association (Forthcoming). Old version. Media: Financial Times, WSJ, Bloomberg.

Entry Costs and the Macroeconomy, with Callum Jones and Thomas Philippon. Journal of Monetary Economics (2022)

Revisiting the Global Decline of the (Non-Housing) Labor Share, with Sophie Piton. American Economic Review: Insights (2020). Appendix. Slides. Media: The Economist, Hutchins Roundup, Central Banking

From Good to Bad Concentration? U.S. Industries over the past 30 years, with Matias Covarrubias and Thomas Philippon. NBER Macro Annual Conference (2019). Media: The Economist, Financial Times, Bloomberg, Wash. Post

Fading Stars, with Thomas Philippon. AEA Papers and Proceedings (2019). Media: ProMarket, Financial Times

Ownership, Concentration, and Investment, with Thomas Philippon. AEA Papers and Proceedings (2018)

Investment-less growth: An Empirical Investigation, with Thomas Philippon. Brookings Papers on Economic Analysis (2017). Slides. Media: NYT, Bloomberg, Reuters

Is there an investment gap in advanced economies? If so, why?, with Robin Döttling and Thomas Philippon. ECB Forum on Central Banking (2017). Media: VoxEU

Estimating the Probability That the Game of Monopoly Never Ends, with Eric Friedman, Shane Henderson and Thomas Buyen. Proceedings of the 2009 Winter Simulation Conference (2009). Media: San Diego Tribune

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Working Papers

The Welfare Consequences of Regulating Amazon (2021)

Nonbank Lending and Credit Cyclicality with Quirin Fleckenstein, Manasa Gopal, and Sebastian Hillenbrand (2021), R&R at the Review of Financial Studies

Some Facts about Dominant Firms with Thomas Philippon (2020) 

The Failure of Free Entry with Thomas Philippon (2019) 

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Selected Work in Progress

The Amazon Shock: Pass-Through Estimation through Amazon Annual Fee Changes, with Matias Covarrubias and Sophie Piton

• Estimates cost pass-through for a large range of product categories, and discusses a series of applications ranging from competition policy to monetary policy

The Evolution of Firm Heterogeneity in Europe: Facts and Explanations, with Joseba Martinez, Thomas Philippon and Sophie Piton

• Studies the evolution of labor productivity and dispersion in Europe using firm-level data for a large cross-section of European countries

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Old/superseded Papers

1. Declining Competition and Investment, with Thomas Philippon (2017), superseded by Covarrubias, Gutierrez and Philippon (2019) 

2. Investigating Global Labor and Profit Shares (2017); superseded by  Gutierrez and Piton (2020)