Published Papers
Dispersed Information, Sticky Prices and Monetary Business Cycles: A Hayekian Perspective (with Christian Hellwig)
Journal of Monetary Economics, forthcoming. (for older version, titled "Hayek vs Keynes", click here )
Valuing Financial Data (with Maryam Farboodi, Dhruv Singhal and Laura Veldkamp)
Review of Financial Studies, 2025.
Market-making with Search and Information Frictions (with Ben Lester, Ali Shourideh and Ariel Zetlin-Jones)
Journal of Economic Theory, 2023. Slides
Where has all the Data Gone? (with Maryam Farboodi, Adrien Matray and Laura Veldkamp)
Review of Financial Studies, 2022 (Lead Article). Slides
Efficiency under Endogenous Information Choice (with Luis Gonzalo Llosa)
Journal of the European Economic Association, 2022. (for older versions, click here and here)
Optimal Mitigation Policies in a Pandemic (with Callum Jones and Thomas Phillipon)
Review of Financial Studies, 2021.
Scarring Body and Mind: The Long-Term Belief-Scarring Effects of COVID-19 (with Julian Kozlowski and Laura Veldkamp)
The 2020 Jackson Hole Economic Policy Symposium Proceedings.
The Tail that Wags the Economy: Belief-Driven Business Cycles and Persistent Stagnation (with Julian Kozlowski and Laura Veldkamp)
Journal of Political Economy, 2020. Slides
Capital Allocation in Developing Countries (with Joel David)
World Bank Economic Review, 2020. Slides
The Sources of Capital Misallocation (with Joel David)
American Economic Review, 2019. Slides
Screening and Adverse Selection in Frictional Markets (with Benjamin Lester, Ali Shourideh and Ariel Zetlin-Jones)
Journal of Political Economy, 2019. Slides
The Tail That Keeps The Riskless Rate Low (with Julian Kozlowski and Laura Veldkamp)
NBER Macroeconomics Annual, 2018. Slides
Information, Misallocation and Aggregate Productivity (with Joel David and Hugo Hopenhayn)
Quarterly Journal of Economics, 2016. Slides
Pledgability and Liquidity: A New Monetarist Model of Macro and Financial Activity (with Randy Wright)
NBER Macroeconomics Annual, 2013. Slides
Setting the Right Prices for the Wrong Reasons (with Christian Hellwig)
Journal of Monetary Economics, 2009. Slides
Work in Progress
Geographic Funding Risk and Market Power in Deposit Markets (with Juan Morelli and Matias Moretti)
Scalable Expertise: How Standardization Drives Scale and Scope (*NEW VERSION*) (with David Argente, Sara Moreira and Ezra Oberfield)
Inflation Uncertainty: Measurement, Causes and Consequences (with Viral Acharya and Sebastian Hillenbrand)
Pandemic-era Inflation and Interest Rate Expectations in the US (with Viral Acharya and Sebastian Hillenbrand)
Heterogeneous Information and Labor Market Fluctuations