Research

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Publications 

Financial Contracting with Enforcement Externalities
​(Journal of Economic Theory, Vol. 178, No. 178, pp.153-189, 2018)

Slides
Working Paper
Online Appendix

​Modeling the Revolving Revolution: The Debt Collection Channel
(American Economic Review, Vol. 107 , No. 3, 2017)

Slides
Working Paper
Online Appendix
​Replication Files

​Understanding International Prices: Customers as Capital
(American Economic Review, Vol. 102, No. 1, 2012)

​Slides
Working Paper
Online Appendix
​Replication Files

The Trade-Comovement Puzzle
(AEJ: Macroeconomics, Vol. 13, No. 2, pp. 78-120, 2021)

Slides
Online Appendix
​Replication Files

​The Nontradable Goods' Real Exchange Rate Puzzle
(NBER International Seminar on Macroeconomic, 2009) 

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Working papers

Rethinking Markups and Inventories over the Business Cycle
(joint with Marina Mendes Tavares)  

Slides
​Online Appendix
Replication package

Understanding Growth through Automation: The Neoclassical Perspective 
(joint with Mathieu Taschereau-Dumouchel and Marina Mendes Tavares)  

Slides
​Online Appendix​ 

The Future of Labor: Automation and the Labor Share in the Second Machine Age  
​(under revision, new version coming soon)
(joint with Hong Cheng, Rahul Giri, Mathieu Taschereau-Dumouchel and Junjie Xia)  

​​Slides

Credit Cards and the Great Recession: The Collapse of Teasers
​​(under revision, new version coming soon)
(joint with Michal Kowalik)

​​Slides

Optimality of Zero APR on Credit Cards: An Analytical Framework
​(joint with Michal Kowalik)

​​Slides

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Unpublished research

Competing for Customers: A Search Model of the Market for Unsecured Credit  
(joint with Jaromir Nosal)

Slides (revised draft)

Pricing-to-Market in Business Cycle Models
(joint with Jaromir Nosal)

Slides

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Other writings

Generative AI: A Turning Point for Labor's Share?  (Economic Insights, Philadelphia Fed, First Quarter 2024)

Why Credit Cards Played a Surprisingly Big Role in the Great Recession
(Economic Insights, Philadelphia Fed, Second Quarter 2021)

The Policy Perils of Low Interest Rates
(Economic Insights, Philadelphia Fed, First Quarter 2018)

The Quiet Revolution in Debt Collection
(AEA Research Highlights)

Responding to COVID-19: A Note
(Federal Reserve Bank of Philadelphia, Working Papers)

Erratum​
Replication Files