More than 2300 citations in Google Scholar:
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American Economic Review
R&R, Journal of Political Economy
Using French firm level data, we structurally estimate firms' (i) financing frictions and (ii) labor adjustment costs.
Lifting financing frictions increases aggregate welfare by 4.5%; removing adjustment costs by 6%.
Liquidity Constrained Exporters
Aggregate welfare gains arise primarily not through static reallocation, but dynamically, through capital accumulation.
Productivity Overshooting:The Dynamic Impact of Trade Opening with Heterogeneous Firms
If firms face fixed export costs, then liquidity constraints may prevent a firm from exporting: the health of its balance sheet matters for exporting.
A currency devaluation hurts domestic firms balance sheets, and may hurt aggregate exports despite its pro-competitive effect.
When trade barriers are high, (too) many firms can survive, sheltered from foreign competition.
After a trade liberalization, it takes a long time for those firms to exit.
The economy may overheat for a while.
Technological Mismatch: a Model of International Trade in Goods and Ideas
Some people are good at inventing new technologies, and some at implementing them. Both don't always live in the same country.
When international trade in ideas is allowed, talented inventors team up with talented craftsmen, world production and world trade go up.
Work in Progress
Migrants, Trade and Investment
Economic Geography and International Inequality in General Equilibrium