Research

Working Papers and Recent Publications (.pdf and .ps reader links below)

• Banking Industry Dynamics Across Time and Space, joint with Pablo D'Erasmo, slides, transition (assets and deposits)

• Equilibrium Evictions, joint with A. Glover and M. Nattinger, slides, small slides

• Competition, Stability, and Efficiency in the Banking Industry, joint with Ross Levine, NASMES_Slides, Hoover, Hoover slides, smallslides, code, 30min pres

• A Quantitative Model of Banking Industry Dynamics, joint with P. D'Erasmo slides

• Asset Quality Dynamics, joint with E. Quintin, slides

• Commit Not to Compete: Collusion versus Liquidity Sharing via Interbank Markets, joint with M. Gofman, slides.

• Employer Credit Checks: Poverty Traps versus Matching Efficiency, joint with A. Glover, conditionally accepted Review of Economic Studies, slides.

• A Quantitative Theory of the Credit Score, joint with S. Chatterjee, K. Dempsey, V. Rios-Rull, forthcoming in Econometrica, Online Technical Appendix, New Slides, New Small Slides, Supplementary Materials, Replication Materials

• Capital Buffers in a Quantitative Model of Banking Industry Dynamics, joint with P. D'Erasmo, Econometrica, Vol. 89, (2021), p.2975-3023. slides, minislides

• Reorganization or Liquidation: Bankruptcy Choice and Firm Dynamics, joint with P. D'Erasmo, Review of Economic Studies, Vol. 88, (2021), p.2239-2274. old version, newslides, slides, smallslides

• Cash-flow Tranching and the Macroeconomy, joint with P. Amaral and E. Quintin, International Economic Review, Vol. 61, (2020), p.1815-1843.

• Rising Bank Concentration, joint with P. D'Erasmo, Journal of Economic Dynamics and Control, Vol. 115, (2020), slides, animated slides

• Foreign Competition and Banking Industry Dynamics: An Application to Mexico, joint with P. D'Erasmo, International Monetary Fund Economic Review, Vol. 63 (2015), p. 830–867, slides, minislides.

• Leverage and the Foreclosure Crisis, joint with Erwan Quintin, Journal of Political Economy, Vol. 123, (2015), p.1-65. slides, smallslides. 

• Preface from An Introduction to Mathematical Analysis for Economic Theory and Econometrics joint with M. Stinchcombe and J. Zeman, Princeton University Press. List of Known Typos (Sorry)

• Politico Economic Consequences of Rising Wage Inequality, joint with P. D'Erasmo and B. Kuruscu, Journal of Monetary Economics, Vol. 56, 2009, p.43-61, slides

• A Finite-Life Private-Information Theory of Unsecured Debt (pdf), joint with S.Chatterjee and V. Rios-Rull, Journal of Economic Theory, Vol. 142, (2008), p. 149-177.

• Experiments with Network Formation (pdf), joint with J. Duffy, Games and Economic Behavior, Vol. 64, (2008), p.81-120. Technical Appendix, Instructions, Slides

• Monetary and Financial Forces in the Great Depression, joint with S. Chatterjee, New Palgrave Dictionary of Economics, 2nd Edition.

• A Quantitative Theory of Unsecured Consumer Credit with Risk of Default (pdf), joint with S. Chatterjee, M. Nakajima, V. Rios-Rull, Econometrica, Vol. 75, (2007), p. 1525-1589, Simple Example, main, simplefun, Slides(old)

• On the Aggregate Welfare Cost of Great Depression Unemployment (pdf), joint with S. Chatterjee, Journal of Monetary Economics, Vol. 54, (2007), p. 1529-1544.

• Extracting Cycles from Nonstationary Data (pdf), joint with S. Ouliaris, Econometric Theory and Practice: Frontiers of Analysis and Applied Research, Cambridge University Press. For programs, see Sam's links: http://www.tsDbank.com/dbankw32.exe and http://www.tsdbank.com/dbexcel.htm

• Decentralized Credit and Monetary Exchange without Public Record Keeping, joint with J. Ritter, Economic Theory, (2004), p. 933-951.

• Directed Matching and Monetary Exchange (pdf), joint with T. Temzelides and R. Wright, Econometrica (2003), p. 731-756.

• Financial Collapse: A Lesson from the Great Depression (pdf), joint with R. Cooper,  Journal of Economic Theory, (2002), p. 159-190.

• Money and Matching (pdf), joint with T. Temzelides and R. Wright, AER: Papers & Proceeding, (2002), p. 67-71.

• Band Spectral Regression with Trending Data (pdf), joint with S. Ouliaris and P.C.B. Phillips, Econometrica (2002), p. 1067-1109.

Miscellaneous Material

• Credit Scores: Old Version, OldSlides, Slides Australia, Midwest Plenary

• Foreclosures: Mortgage Innovation and the Foreclosure Boom, slides

• Structural Stress Tests, joint with P. D'Erasmo, S. Galaassen, A. Irarrazabal, and T. Siemsen, slides

• A Simple Quantitative General Equilibrium Model of Banking Industry Dynamics, joint with Pablo D'Erasmo.

• Banking: Portugal Slides, New Portugal Slides, Brussels Slides

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