Research

Publications

• Middlemen, Intermediaries, and Economic Dynamics, with Chao Gu and Randall Wright (Journal of Economic Theory, 2026)

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

Working Papers

• Hysteresis in Asset Liquidity 

• Dynamics of Market Power in Monetary Economies, with Jyotsana Kala and Lucie Lebeau (R&R at the European Economic Review)

• Dollarization and the Dynamics of Dollar Adoption

Work in Progress

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

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

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