Research

Publications

Dynamics of Market Power in Monetary Economies, with Jyotsana Kala and Lucie Lebeau (European Economic Review, 2026) [Paper] [Slides] [WP] 

Middlemen, Intermediaries, and Economic Dynamics, with Chao Gu and Randall Wright (Journal of Economic Theory, 2026) [Paper] [Slides] [WP]

Endogenous Liquidity and Volatility, with Guillaume Rocheteau (Journal of Economic Theory, 2023) [Paper] [Slides] [WP]

Working Papers

Hysteresis in Asset Liquidity 

Dollarization and the Dynamics of Dollar Adoption

Work in Progress

Duffie-Garleanu-Pederson Meet Rubinstein-Wolinsky, with Chao Gu and Randall Wright

Asset Market Participation, Liquidity, and Monetary Policy, with Aaron Sullivan and Sarah Xiao

Minimum Wages, Gig Market Participation, and Worker Welfare, with Aaron Sullivan