Research

WORKING PAPERS

1. Racial Protests and Credit Access (with Alberto Ortega), NBER Working Paper. [under review]

2. Bank Deregulation and Private Health Insurance (with Ejindu S. Ume). [Revise and Resubmit]

3. Credit Expansion and Job Displacement (with Ejindu S. Ume). [under review]

4. Mass Shooting Exposure and Borrower Behavior: Evidence from Fintech Lending (with Sen Li and Wendy De La Rosa). [under revision]

5. International Corporate Debt Structure: Evidence from the COVID-19 Shock (with Bill B. Francis and Zenu Sharma). [under revision]

PUBLICATIONS

(reversed chronological order)

10. Plant Behavior and Pay Transparency: The Effect on Female Employment and Capital Investment Reallocation -- A Difference-in-Discontinuities Design  (solo-authored), Journal of Law and Economics, [Accepted (forthcoming)]. 

9.  Financial Subsidy, Female Employment, and Plant Performance -- Evidence from a Quasi-Experiment (with Ricardo A. Lopez). Journal of Financial Stability, November 2024.

8.  Taxes Under Stress: Bank Stress Tests and Corporate Tax Planning (with Bill B. Francis and Jyothsna Harithsa). China Accounting and Finance Review, November 2024.

7.  "Adding Stress in Banking: Stress Tests and Risk-Taking Sentiments" (with Jyothsna Harithsa and Abena Owusu). Journal of Corporate Finance, 87, August 2024.

6. "Gender and Racial Behavior in Consumer Payment Methods under Economic Uncertainty" (with Jyothsna Harithsa).  AEA Papers and Proceedings (previously the American Economic Review: Papers and Proceedings) 114, May 2024.

5. "Racial Disparities in Family Income, Assets, and Liabilities: A Century After the 1921 Tulsa Massacre" (with William A. Darity, Lauren Russell, and Jorge N. Zumaeta). Journal of Family and Economic Issues 45 (2) 2024, Pages 256 - 275.

4. "The Self-Employment Effects of Secure Communities in the United States" (with Alejandro Gutierrez-Li).  AEA Papers and Proceedings (previously the American Economic Review: Papers and Proceedings) 113, May 2023.

3. "Mass-Shootings and Peer-to-Peer Lending" (with Sen Li and Abdullah Al Mahmud). Finance Research Letters 47, June 2022.

2. “Self-Reporting Race in Small Business Loan Applications:  A Game-Theoretic Analysis of Evidence from PPP Loans in Durham, NC” (with William A. Darity, Jr.). AEA  Papers and  Proceedings  (previously the American Economic Review: Papers and Proceedings) 112 , May 2022.

1. "Stress Testing and Bank Business Patterns: A Regression Discontinuity Study" (with Suzanne Steele). Journal of Banking and Finance 135, February 2022.

WORK IN PROGRESS

1. The Economics of Self-Reporting Race in Loan Applications (with William A. Darity Jr., and Bill A. Francis)

2. Hawthorne Effect in Banking (with Brian Clark, Bill Francis, and Suzanne Steele)

3.    Pay Compression in Banking (with Zenu Sharma and Johan Maharjan)

BOOK CHAPTERS, POLICY REPORTS, AND OTHER PUBLICATIONS

(reversed chronological order)

8.  “Income Supplements versus Building Assets and the Racial Wealth Gaps” (with William ”Sandy” Darity, Jr., Monica Garcia-Perez, Trevon Logan, William Gale, Noral Cahill,  and Tori Cook).  (June 2022). A Publication of the  Samuel  DuBois  Cook  Center on  Social  Equity at  Duke  University, Duke University, Durham, NC: June 2022.

Description: We explore whether income supplements or asset-building initiatives are more effective at closing the racial wealth gaps.

7.  “Oil and Blood:  The Color of Wealth in Tulsa,  Oklahoma” (with C. Aujean Lee,  Randall Akee, Lauren Russell, Jorge Zumaeta, and William ”Sandy” Darity, Jr.).  (November 2021). A Publication of the  Samuel  DuBois  Cook  Center on  Social  Equity at  Duke  University, Duke University, Durham, NC: November 2021.

Description: We study the long-term relationship between racial violence (1921 Tulsa Massacre) and racial-ethnic wealth and income inequality, focusing on homeownership and entrepreneurship in Tulsa. 

6.  “Black Wall Street of the South:  From Reconstruction to the Pandemic” (with M'Balou Camara, Andre D. Vann, William ”Sandy” Darity, Jim Harper, Bertha Johnson, Addison Malone, Henry McKoy, Carl Webb,  and Gwendolyn Wright) (August 2021). A Publication of the Samuel DuBois Cook Center on Social Equity at Duke University, Duke University, Durham, NC: August 2021.

Description: We examine the impact of the COVID-19 pandemic on black-owned small businesses in Durham, NC (one of the most prominent Black Wall Street in the US), with a focus on analyzing the discriminatory practices of financial institutions using the Paycheck Protection Program (PPP) as our case study. 

5.  “Race, Phenotype, and Economic Disparities:  Evidence from Los Angeles, California” (with Aaron Colston, William ”Sandy” Darity, Lauren Russell, and Jorge Zumaeta). (August 2021). A Publication of the Samuel DuBois Cook Center on Social Equity at Duke University, Duke University, Durham, NC: August 2021. 

Description: We investigate and decompose the relationship between race, skin tone (colorism), attractiveness, and racial-ethnic wealth and income gaps across different racial-ethnic groups. 

4.  “The Color of Wealth in Baltimore” (with Aaron Colston, William ”Sandy” Darity, Lauren Russell,  and  Jorge  Zumaeta).   (August  2021). A  Publication of the  Samuel  DuBois  Cook Center on Social Equity at Duke University, Duke University, Durham, NC: August 2021.

Description: We study the relationship between household exposure to incarceration and the racial-ethnic wealth and income gaps across different racial-ethnic groups.

3. “The Rise of Brazil in Global Trade" with Ricardo Lopez (2015). In: O. Morrisey, R. A. Lopez, and K. Sharma, Eds, Handbook on Trade and Development. Cheltenham, UK: Edward Elgar Publishing.

2. "The Toll of War: The Economic and Social Consequences of the Conflict in Syria." (many authors). World Bank Group Publication. (July 2017).

1.  “Remittances:   Stimulating  Human  Prosperity through  Micro-Enterprises in  El  Salvador” (2009), Fifth Summit of the Americas:  Third Essay Contest, Organization of American States, 9 March 2009.  – Best Paper Award, OAS Third Annual Essay Contest

Description: I investigate how the flow of immigrant remittances from the US affects entrepreneurship and micro-enterprises in El Salvador.