"Financial Frictions and Productivity: Evidence from Mexico"
Quarterly Review of Economics and Finance, Volume 66, November 2017, Pages 294-301
"A Quantitative Theory of Tax Evasion"
Journal of Macroeconomics, Volume 53, September 2017, Pages 107-126
"An Evaluation of Real-time Forecasting Performance across 10 Western U.S. States"
with Keith R. Phillips, Journal of Economic and Social Measurement, vol. 34, No. 2-3, 2009.
"Error Correction Exchange Rate Modeling for Mexico: 1980-2001"
with Thomas M. Fullerton, International Journal of Applied Econometrics and Quantitative Studies, Vol.2-3, 2005.
"The returns to entrepreneurship: selection, non-pecuniary benefits, and necessity in Mexico"
with Jesica Torres-Coronado
We use detailed micro-enterprise surveys in Mexico to estimate monetary and full returns—relative to wage work—for self-reported voluntary and necessity entrepreneurs, controlling for unobservables and heterogeneity in tastes and skills. Unique data on reservation wages allows us to measure the monetary value of non-pecuniary benefits. We find strong evidence of necessity only among medium and high skill entrepreneurs without employees, and only relative to formal wage work. Non-pecuniary benefits seem more substantial for those without employees, relative to employers. Our results suggest that standard definitions of necessity are misleading, and provide a more disciplined, policy-relevant way of identifying necessity.
"Size-dependent policies, talent misallocation, and the return to skill."
with Jesica Torres-Coronado Major revision coming soon
"Entrepreneurship and Rent Seeking under Credit Constraints"
Job Market Paper (new version coming soon).
"The Role of Workplace Flexibility in Home Production and the Search for Market Labor"
with Jennifer St. Clair (draft coming soon).
A flexible work schedule is a valuable attribute of a job, but often comes at a cost to both workers and firms. We develop a simple model of the labor market that incorporates a role for temporal flexibility. Workers differ in their ability to substitute market goods for time at home, inducing heterogeneity in their willingness to forgo wages in exchange for greater flexibility. Firms vary in their productivity, as well as in the cost of providing a flexible work schedule. Our framework enables us to quantify the market value attached to flexible jobs, as well as the welfare gains from increasing their availability.
"Advertising and Pricing When Attention is Limited"
with Carmen Astorne-Figari and Aleksandr Yankelevich (resubmitted to the Journal of Economic Behavior and Organization), https://ssrn.com/abstract=2964298
We analyze markets where firms that compete on price advertise to vie for consumers’ limited attention. Our baseline model of attention has a number of desirable properties. Foremost, it offers an explanation for price dispersion in homogeneous goods markets in the absence of search costs (e.g., when search costs are sunk). Moreover, it leads to a unique symmetric price distribution that changes from marginal cost to monopoly pricing as attention becomes more limited. When firms can influence consumer attention by advertising and the cost of advertising is low, advertising leads firms to a prisoner’s dilemma that adversely impacts profits without changing prices. However, moderately costly advertising could lead firms to effectively fight for attention and raise prices and possibly profits.