Research

Recent Drafts

(10) Disaster Risk and Business Cycles (September 2009) Matlab programs (zip)

(11) Estimating Firm-Level Risk (October 2008)

(12) Customer Capital, with Leena Rudanko (June 2009, preliminary version)

Drafts

(6) Putty-Clay Technology and Stock Market Volatility (Last revision: December 2007) Appendix

(7) Labor Leverage, Firms Heterogeneous Sensitivities to the Business Cycle, and the Cross-Section of Returns (Last revision: October 2007)

(8) Dynamic Effects of Permanent and Temporary Dividend Tax Policies on Corporate Investment and Financial Policies (Last revision: Oct 2007) with Jianjun Miao

(9) The Marginal Worker and the Aggregate Elasticity of Labor Supply (Last revision: May 2009) with Pierre-Alexandre Noual Appendix and old version

Publications

(1) Investment Spikes: New Facts and a General Equilibrium Exploration, with Anil K Kashyap. Journal of Monetary Economics, 2007, 54:S1:S22.

Longer version (NBER wp) and Appendix, Data, Matlab code

(2) Disasters and Recoveries. American Economic Review - Papers and Proceedings, 98(2): 68-73, May 2008. Correction

(3) Time Series Predictability in the Disaster Model. Finance Research Letters, December 2008, 5(4): 191-203, Computational Appendix. Matlab programs (zip).

(4) Firm Heterogeneity and the Long-Run Effects of Dividend Tax Reform, with Jianjun Miao. Forthcoming, AEJ: Macroeconomics. Matlab programs (zip).

(5) Is there a majority to support a capital tax cut? Journal of Economic Dynamics and Control, June 2009, 33(6):1278-1295.