research
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working papers
Evaluating End-to-End Entity Linking on Domain Specific Knowledge Bases:
Learning about Ancient Technologies from Museum Collections
Sebastian Cadavid-Sanchez; Khalil Kacem; Rafael Aparecido Martins Frade; Johannes Boehm; Thomas Chaney; Danial Lashkari; and Daniel Simig
May 2023
publications
Immigration, Innovation, and Growth
Stephen Terryⓡ; Thomas Chaneyⓡ; Konrad Burchardiⓡ; Lisa Tarquinioⓡ; and Tarek Hassanⓡ
conditionally accepted
American Economic Review
Leonardo Bursztyn; Thomas Chaney; Tarek Hassan; and Aakaash Rao
February 2024, 114(2): 348-84
American Economic Review
©2024 by the American Economic Association
Quantifying Reduced-Form Evidence on Collateral Constraints
Sylvain Catherine; Thomas Chaney; Zongbo Huang; David Sraer; and David Thesmar
August 2022, 77(4): 2143-81
Journal of Finance
©2022 by the American Finance Association
Trade, Merchants and the Lost Cities of the Bronze Age
Gojko Barjamovic; Thomas Chaney; Kerem Cosar; and Ali Hortacsu
August 2019, 134(3): 1455-1503
Quarterly Journal of Economics
©2019 by the Oxford University Press
Migrants, Ancestors, and Foreign Investments
Konrad Burchardi; Thomas Chaney; and Tarek Hassan
July 2019, 86(4): 1448-86
Review of Economic Studies
©2019 by the Oxford University Press
The Gravity Equation in International Trade: An Explanation
February 2018, 126(1): 150-77
Journal of Political Economy
©2018 by the University of Chicago
Raphael Auer; Thomas Chaney; and Philip Saure
January 2018, 110: 87-102
Journal of International Economics
©2018 by Elsevier
Liquidity Constrained Exporters
November 2016, 72: 141-54
Journal of Economic Dynamics and Control
©2016 by Elsevier
Networks in International Trade
Oxford Handbook of the Economics of Networks, edited by Yann Bramoulle, Andrea Galleoti and Bryan Rogers
April 2016: 754-75
Oxford University Press
©2016 by the Oxford University Press
The Network Structure of International Trade
November 2014, 104(11): 3600-34
American Economic Review
©2014 by the American Economic Association
Market Size, Division of Labor, and Firm Productivity
May 2013, 90(1): 177-80
Journal of International Economics
©2013 by Elsevier
The Collateral Channel: How Real Estate Shocks Affect Corporate Investment
Thomas Chaney; David Sraer; and David Thesmar
October 2012, 102(6): 2381-2409
American Economic Review
©2012 by the American Economic Association
Exchange Rate Pass-Through in a Competitive Model of Pricing-to-Market
Raphael Auer and Thomas Chaney
February 2009, 41(s1): 151-75
Journal of Money, Credit and Banking
©2009 by the Ohio State University
Distorted Gravity: The Intensive and Extensive Margins of International Trade
September 2008, 98(4): 1707-21
American Economic Review
©2008 by the American Economic Association
work in limbo
Summary: In the presence of financing frictions and firm-to-firm input-output linkages, idiosyncratic firm-level shocks generate fat tails of extreme events (sudden and large recessions and recoveries), and, absent extreme events, log-normally distributed aggregate fluctuations.
Summary: I propose a partition of US firms into "production clusters": two firms belong to the same cluster if their sales are correlated. Cluster boundaries better describe production chains than the arbitrary legal boundaries of firms. I uncover robust statistical regularities for production clusters:
(i) cluster sizes are precisely governed by a two-sided Pareto distribution, while firm sizes imprecisely follow a complex mixture of Pareto and log-normal distributions;
(ii) production clusters precisely follow Gibrat's law, an average growth rate independent of size, while small firms strongly depart from Gibrat's law;
(iii) unlike firms, cluster volatility falls sharply with cluster size.
Summary: 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.
Summary: 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.