Research

Working Papers:

  1. Fewer but Better: Sudden Stops, Firm Entry, and Financial Selection  (with Sina T. Ates, older draft: PIER Working Paper Archive 14-043, Resubmitted to AEJ: Macro)
  2. Corporate Taxes and Growth: The Impact of Financial Selection on Firm Entry  (with Sina T. Ates, older draft: PIER Working Paper Archive 13-011)
  3. Capital-Based Corporate Tax Benefits: Endogenous Misallocation through Lobbying (with Tanida Arayavechkit and Minchul Shin, Revision Requested by JEEA)
  4. The Transmission of Commodity Price Super-Cycles  (with Felipe Benguria and Sergio Urzua, NBER Working Paper No. 24560, Reject and Resubmit at ReStud)
  5. Political Connections and the Allocation of Government Spending in the U.S.: A Firm Level Analysis (with Joonkyu Choi and Veronika Penciakova)
  6. From Carry Trades to Trade Credit: Financial Intermediation by Non-Financial Corporations (with Bryan Hardy, BIS working paper 773, Submitted)
  7. Trade and Productivity Dynamics during Sudden Stops (with Hidehiko Matsumoto and Felipe Benguria draft available soon)

Work in Progress:
  1. Exchange Rates and Endogenous Productivity (with Nils Gornemann and Pablo Guerron-Quintana)
  2. New Goods, Miss-measured Inflation, and Monetary Policy (with Nils Gornemann)
  3. The Micro and Macro Dynamics of Capital Inflows (with Liliana Varela and Kei-Mu Yi)
  4. International R&D Spillovers: from "Made in China" to "Invented in China" (withSalomé Baslandzeand Pengfei Han)
  5. Sudden Stops and Exchange Rate Fluctuations under Non-homothetic Preferences (with Eugenio Rojas)

Discussions:
  1. Credit, Misallocation and Productivity Growth (Meza, Pratap, Urrutia) at IADB on May 2015
  2. Debt into Growth: How Sovereign Debt Accelerated the First Industrial Revolution (Ventura, Voth) at NBER (IFM, DC meeting) on April 2016
  3. Investment and The Cross-Section of Equity Returns (Clementi, Palazzo) at BFI Chicago on April 2016
  4. Firm Entry and Exit and Aggregate Growth (Asturias, Hur, Kehoe, Ruhl) at ITAM-PIER 2016
  5. Financial Frictions and Firm Dynamics (Bergin, Feng, Lin) at IMF- Bank Negara 2017
  6. Real Exchange Rates, Income per Capita, and Sectoral Input Shares (Cravino and Haltenhof) at Philly Fed International Trade Workshop 2017
  7. Back to Basics: Basic Research Spillovers, Innovation Policy and Growth (Akcigit, Hanley, Serrano-Velarde) at AEA 2018
  8. Currency Depreciation and Emerging Market Corporate Distress (Bruno, Shin) at Washington Area International Finance Symposium 2018
  9. External Financing and Firm Productivity: Evidence from Chinese Privately-Owned Enterprises (Ebrahimy, Guo, He, Zha) at 2nd IMF Annual Macro-Financial Research Conference
  10. Capital Controls and Risk Misallocation: Evidence from a Natural Experiment (Keller) at NBER Summer Institute - IFM 2019