Research Fields: Macroeconomics, Mechanism Design
Working Papers:
Severance pay in an optimal contract, with Borys Grochulski and Tsz-Nga Wong.
Private Information and Optimal Infant Industry Protection, with B. Ravikumar and Ray Riezman.
Publications (in peer-reviewed journals):
Termination as an incentive device, with Borys Grochulski, 18(1), 381-419, 2023, Theoretical Economics.
China's Housing Bubble, Infrastructure Investment, and Economic Growth, with Shenzhe Jiang and Jianjun Miao, 63(3), 1189-1237, 2022, International Economic Review.
On the Pacific Salmon Treaty, with Shenzhe Jiang, The Economic Journal, 130, 489-510, 2020.
Optimal liquidity policy with shadow banking, with Borys Grochulski, Economic Theory, 68 (4), 967-1015, 2019.
Market-based incentives, with Borys Grochulski, International Economic Review 58(2), 331-382, 2017.
A duality approach to continuous-time contracting problems with limited commitment, with Jianjun Miao, Journal of Economic Theory, 159, 929–988, 2015.
Unemployment insurance fraud and optimal monitoring, with David Fuller and B. Ravikumar, AEJ: Macroeconomics, 7(2), 1-43, 2015.
Shared patent rights and technological progress, with Matthew Mitchell, International Economic Review, 56(1), 95-132, 2015.
When can we do better than autarky?, with Guoqiang Tian, Economics Letters, 119(3), 328-331, 2013.
Characterization of a risk sharing contract with one-sided commitment, Journal of Economic Dynamics and Control, 37(4), 794-809, 2013.
Optimal auditing and insurance in a dynamic model of tax compliance, with B. Ravikumar, Theoretical Economics, 7(2), 241-282, 2012.
Optimal risk sharing and borrowing constraints in a continuous-time model with limited commitment, with Borys Grochulski, Journal of Economic Theory, 146(6), 2356-2388, 2011. First Version, Dec, 2010.
Unemployment insurance with hidden savings, with Matthew Mitchell, Journal of Economic Theory, 145(6), 2078-2107, 2010.
Dynamic contracting with persistent shocks, Journal of Economic Theory, 144(2), 635-675, 2009.
Stochastic optimal growth with a non-compact state space, Journal of Mathematical Economics, 43(2), 115-129, 2007.
Other Publications:
Wealth Effects with Endogenous Retirement, with Borys Grochulski, Economic Quarterly, 105(3), Third Quarter 2019, pp. 173-200, Federal Reserve Bank of Richmond.
Cyclical Properties of Bank Margins: Small versus Large Banks, with Borys Grochulski and Daniel Schwam, Economic Quarterly, 104(1), First Quarter 2018, pp. 1-33, Federal Reserve Bank of Richmond.
Optimal Institutions in Economies with Private Information: Exclusive Contracts, Taxes, and Bankruptcy Law, with Borys Grochulski, Economic Quarterly, 100(4), Fourth Quarter 2014, pp. 353-385, Federal Reserve Bank of Richmond.
Saving for retirement with job loss risk, with Borys Grochulski, Economic Quarterly, 99(1), First Quarter 2013, pp. 45-81, Federal Reserve Bank of Richmond.
Unemployment benefits: how much money goes unclaimed, with David Fuller and B. Ravikumar, Economic Synopses, Federal Reserve Bank of St. Louis, Number 18, 2013.
Who Is Concealing Earnings and Still Collecting Unemployment Benefits, with David Fuller and B. Ravikumar, The Regional Economist, Federal Reserve Bank of St. Louis, Vol 21, No 2, April, 2013.
Unemployment insurance fraud, with David Fuller and B. Ravikumar, Economic Synopses, Federal Reserve Bank of St. Louis, Number 28, 2012.
Unemployment insurance: payments, overpayments and unclaimed benefits, with David Fuller and B. Ravikumar, The Regional Economist, Federal Reserve Bank of St. Louis, Vol 20, No 4 (October 2012). Media Coverage: NPR, Huffington Post, WSJ’s Real Time Economics blog, Dow Jones