Research

Current working papers

Size-Dependent Regulations, Firm Size Distribution, and Reallocation (December 2012) with N. Roys

Customer Capital with L. Rudanko (June 2011) Appendix

Estimating Firm-Level Risk (October 2008 version, needs a substantial revision)

Publications

Credit risk and Disaster risk (November 2012) Forthcoming, AEJ: Macroeconomics. Appendix Programs (zipped folder)

International Risk Cycles, with M. Siemer and A. Verdelhan Forthcoming, Journal of International Economics. Appendix.

Disaster Risk and Business Cycles American Economic Review, 102(6):2734-2766, 2012. Appendix Programs.

Previous version (simpler model, empirical exercise) and Appendix Programs.

Putty-Clay Technology and Stock Market Volatility Appendix. Journal of Monetary Economics, 58(2):117-131, 2011.

Transitional Dynamics of Dividend Tax and Capital Gains Tax Cuts with Jianjun Miao. Review of Economic Dynamics, 14(2):368-383, 2011.

Technical Appendix Programs (zip) Programs and Results (zip; 30mb file)

Firm Heterogeneity and the Long-Run Effects of Dividend Tax Reform, with Jianjun Miao. AEJ: Macroeconomics, 2(1):131-168, 2010. Programs (zip).

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

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

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

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

Longer version (NBER wp) and Appendix, Data, Programs

Older working papers

The Marginal Worker and the Aggregate Elasticity of Labor Supply (May 2009), with P.-A. Noual. Appendix and old version

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