Working Papers

"Merger Policy for Platforms: A Growth Theory Perspective," with Federico Puglisi and Liangjie Wu  

"Market Concentration and the Productivity Slowdown," (Revise & Resubmit, Review of Economic Studies)

"Gender Divergence in Sectors of Work," with Titan Alon and Sena Coskun

"This Time It’s Different: The Role of Women’s Employment in a Pandemic Recession," with Titan Alon, Matthias Doepke, and Michèle Tertilt, NBER Working Paper 27660

Media coverage: Wall Street Journal, Business Insider, Planet Money, New York Times, CNN, BBC,  Quartz, Forbes, Bloomberg, NPR, The Economist; video interview with PBS' To the Contrary; radio interview with WBEZ

"Country Banks and the Panic of 1825" with Giorgio Ravalli (Revise & Resubmit at Explorations in Economic History)

Works in Progress

"Ideas and Firm Dynamics When It Takes Two to Tango" with Seula Kim and Honghao Wang

Invention is increasingly performed by teams of inventors rather than individuals. We study the implications of this change for the firm size distribution of innovative firms. A simple model of team invention within firms suggests that the rise of teams generates greater returns to scale in inventor labor. We empirically validate this simple framework by showing that inventor output is increasing in the number of inventor colleagues using panel data on inventors and U.S. firms. We then embed this simple framework in a Melitz-style model with knowledge spillovers across firms and show that while the increase in returns to scale increases total output, misallocation of inventors across firms increases as team idea production becomes more prevalent. An extended model with search frictions also predicts that the share of growth coming from small firms falls when team idea production becomes more prevalent. 

"Historical Measures of Market Concentration" with Carola Frydman, Amy Handlan, Mark (Zhenzhi) He and Dimitris Papanikolaou

Publications

"The Impact of COVID-19 on Gender Equality," with Titan Alon, Matthias Doepke, and Michèle Tertilt, Covid Economics: Vetted and Real-Time Papers, Issue 4, 62-85, April 2020. 

Short version: VoxEU 

"How Effective Are Macroprudential Policies? An Empirical Investigation," with Ozge Akinci, Journal of Financial Intermediation, Volume 33, p. 33-57, January 2018. 

Non-Refereed Publications

"Comment on Understanding the Economic Impact of COVID-19 on Women by Claudia Goldin," Brookings Papers on Economic Activity, Spring 2022: 126-135. 

Older Working Papers

"Sector-Specific Shocks and the Expenditure Elasticity Channel During the COVID-19 Crisis," with Ana Danieli, May 2020