Research

Publications

Concentration and Geographic Proximity in Antitrust Policy: Evidence from Bank Mergers 

with David Benson, Samuel Blattner, Serafin Grundl, and Ken Onishi, 2023. (Forthcoming, AEJ-Micro)

Intermediation Frictions in Debt Relief: Evidence from CARES Act Forbearance (2024) Journal of Financial Economics

with Donghoon Lee, Tess Scharlemann, and James Vickery

Cheapest-to-Deliver Pricing, Optimal MBS Securitization, and Welfare Implications (2023) Journal of Financial Economics

with Yesol Huh

Nonbanks and Mortgage Securitization (2022) Annual Review of Financial Economics 

with Karen Pence, Richard Stanton, Johan Walden, and Nancy Wallace 

The Real Effects of the Secondary Market Trading Structure: Evidence from the Mortgage Market (2022) Review of Financial Studies

with Yesol Huh.

The Marginal Effect of Government Mortgage Guarantees on Homeownership (2021). Journal of Monetary Economics 

with Serafin Grundl.

Consumer Mistakes and Advertising: The Case of Mortgage Refinancing (2019). Quantitative Marketing and Economics

with Serafin Grundl.

Liquidity Crises in the Mortgage Market (2018). Brookings Papers on Economic Activity

with Steven M. Laufer, Karen Pence, Richard Stanton, and Nancy Wallace.

Advertising and Risk Selection in Health Insurance Markets (2018). American Economic Review

with Naoki Aizawa.

Working Papers

Public and Private Provision of Information in Market-Based Public Programs: Evidence from Advertising in Health Insurance Marketplaces

with Naoki Aizawa, 2023. (Conditionally Accepted: AEJ-Policy)

Nonbank Issuers and Mortgage Credit Supply 

with David Benson and Karen Pence, 2024.

Inactive Working Papers

Tricks of the Trade? Pre-Issuance Price Maneuvers by Underwriter-Dealers

with Jun Kyung Auh and Mattia Landoni, 2019.

The Dynamics of Adjustable-Rate Subprime Mortgage Default: A Structural Estimation

with Hanming Fang and Wenli Li, 2015