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. Awards: Yuki Arai prize for best paper at NYU Stern Finance, 2019. Replication Package

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. Awards: Where's the BOOM award for best poster on computer-science related undergraduate research at Cornell University, 2010

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Working Papers

Nonbank Lending and Credit Cyclicality (2023), with Quirin Fleckenstein, Manasa Gopal, and Sebastian Hillenbrand, R&R at the Review of Financial Studies  NEW VERSION!

The Welfare Consequences of Regulating Amazon (2021). NBER Slides. Awards: Runner-up for best paper award at BU Platform Strategy Research Symposium.

Some Facts about Dominant Firms (2020), with Thomas Philippon  

The Failure of Free Entry (2019) with Thomas Philippon  

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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)