I. Macroeconomics of Artificial Intelligence

1. AI Innovation and Institutions

This agenda studies how technological innovation interacts with institutions and governments. It spans the use of AI in state surveillance, the provision of government data and financing to AI firms, and the process of innovation when property rights over key resources are contested, as in the case of generative AI and copyrighted text and images.

Data-intensive Innovation and the State: Evidence from AI firms in China, with David Yang and Noam Yuchtman. The Review of Economic Studies, July 2023.
AI-tocracy, with Andrew Kao, David Yang, and Noam Yuchtman. The Quarterly Journal of Economics, August 2023.
Government as Venture Capitalists in AI, with Wenwei Peng, David Y. Yang, and Noam Yuchtman. Entrepreneurship and Innovation Policy and the Economy, Vol. 4, July 2024.
Exporting the Surveillance State via Trade in AI, with Andrew Kao, David Yang, and Noam Yuchtman. May 2025
Turning Straw Into Gold: Innovation under Contested Property Rights, with Noam Yuchtman. December 2025.

2. AI and Firms

This agenda studies how technology adoption shapes firm dynamics and productivity. It examines optimal policies to promote competition in digital and AI industries, and measures the value of AI as a technology that accelerates organizational learning.

The Life-Cycle of Concentrated Industries, with Francisco Buera. November 2025.
The Value of Organizational Learning Technologies, with Eduard Talamás. December 2025.

3. AI and Workers

This agenda studies how technological innovations impact labor markets when workers cannot easily reallocate or insure themselves against changing skill demands. It explains why economies adjust more slowly to certain technologies and why firms can automate excessively—providing a rationale for policies that slow the pace of AI adoption.

Fast and Slow Technological Transitions, with Rodrigo Adão and Nitya Pandalai-Nayar. Journal of Political Economy: Macro, June 2024.
Inefficient Automation, with Nathan Zorzi. The Review of Economic Studies, February 2024.

II. Business Cycles

1. Monetary

This agenda studies the transmission of monetary policy to inflation and real activity, emphasizing nominal rigidities and the aggregation of heterogeneous regional responses.

From Hyperinflation to Stable Prices: Argentina's Evidence on Menu Cost Models, with Fernando Alvarez, Andy Neumeyer and Martin Gonzalez-Rozada. The Quarterly Journal of Economics, February 2019.
Regional Heterogeneity and the Refinancing Channel of Monetary Policy, with Andreas Fuster, Erik Hurst, and Joe Vavra. The Quarterly Journal of Economics, February 2019.

2. Methods

This agenda develops methods for analyzing business cycles. It shows how to use regional evidence to make inferences about aggregate business cycles, and how to construct policy counterfactuals without fully specifying a structural model.

The Aggregate Implications of Regional Business Cycles, with Erik Hurst and Juan Ospina. Econometrica, November 2019.
A Semistructural Methodology for Policy Counterfactuals. Journal of Political Economy, January 2023.

3. Durables

This agenda studies the role of durable goods in business cycles, focusing on how they shape recoveries and determine the marginal propensity to spend following stimulus checks.

Demand Composition and the Strength of Recoveries, with Christian K. Wolf. The Review of Economic Studies (R&R), February 2022.
Durables and the Marginal Propensity to Spend, with Nathan Zorzi. The American Economic Review (2nd R&R), September 2025.

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