This dissertation addresses questions in the fields of household finance and corporate finance. In Chapter 1, I use a quasi-experiment in Norway to examine how households respond to capital taxation. The introduction of a new wealth assessment methodology in 2010 led to geographic discontinuities in household exposure to wealth taxes,...
This dissertation comprises three essays in distinct areas of economic theory. The first chapter is co-authored with Gregorio Curello. We identify a new and pervasive dynamic agency problem: that of incentivising the prompt disclosure of productive information. To study it, we introduce a model in which a technological breakthrough occurs...
``Hazy decisions: The effect of dementia on medical decision-making'' \\ I estimate the causal effect of having dementia on the course of treatment for unrelated diseases by leveraging differences in the relative time of onset of dementia and the other condition in a difference-in-differences event-study framework. To demonstrate this approach...
I analyze a new mechanism through which changes in aggregate income can result in changes in the labor income distribution. This mechanism arises from heterogeneity in the expenditure elasticity of different sectors and in their employment composition. Once total income increases the mechanism suggests that consumption will be re-allocated towards...
I examine economic design issues in the realm of dynamic organ allocation for transplantation and behavioral market design/contract theory. The second and third chapters focus on two issues in the design of the U.S. deceased-donor organ allocation system, which represents the majority of transplants performed in the U.S. In contrast...
In this dissertation, I explore how quasi experiments can be used to estimate the causal impact of financial variables on agents’ behavior. Specifically, I analyze three different events that allow me to shed light on the role that financial markets play in decisions made by households, firms, and the government,...
This dissertation consists of three chapters on theoretical and empirical industrial organization. The first chapter highlights a previously unnoticed property of commonlyused discrete choice models, which is that they feature parallel demand curves. The second chapter studies how a behavioral consumer preference with “price reference effect” can overturn the standard...
This dissertation is a wide-range study of the relationships between the three central elements of the production function: technology, capital and its financing, and labor. Chapter 1 analyzes the relationship between labor and recent wave of automation and digitization technologies, showing that while they typically substitute for workers, in several...
Perhaps because of the influence of the central limit theorem, it is common for scientists to assume distributions in the real world are singly peaked and unimodal. However, many quantities in nature are actually better represented by multimodal distributions. One must provide an explanation for this disconnect between the central...
This dissertation contains two studies. In Chapter 1 we investigate the relationshipbetween expansionary credit events and firms’ employment decisions. To overcome the
endogeneity coming from the supply side of credit we exploit the legal and political framework
in Mexico to examine the effects of local governments’ prepayment of loans, a...
This thesis explores questions in labor economics and applied microeconomics, with particular focus on issues that have implications for public policy. The first essay estimates the Frisch elasticity, sometimes known as the wage elasticity of labor supply in response to anticipated wage changes. Despite its importance in macroeconomic and public...
This dissertation addresses three distinct topics in development economics. The first chapter assesses the role of entry and exit in the measurement of misallocation in India. In the last decade, misallocation of productive inputs across firms has been proposed as a primary driver of differences in aggregate productivity over time...
This dissertation presents research on the game theory of political power, both between and within nations. It first revisits a classical distinction between three different types of power or influence: information, rewards and threats. By presenting a binary-action Principal-Agent problem which incorporates the essential ingredients of all three types of...
This dissertation consists of three chapters on empirical industrial organization. The first chapter explores how a seller uses a public reserve price to signal her private info about the object’s value to the bidder. The second chapter studies how a behavioral consumer preference called “price reference effect” could overturn the...
This thesis consists of three chapters on macroeconomics with heterogeneous households. In the first chapter, I document that spousal labor supply substantially mitigates the impact of cyclical labor income risk on married households. Motivated by this evidence, I present a macroeconomic model with incomplete markets in which households are heterogeneous...
Increasingly, governments contract with private firms to provide publicly funded or subsidized goods and services, ranging from defense contracts, social insurance programs to small business loans. In such publicly funded, privately provided markets, governments set specific rules and policies to allow efficient provision or allocation of goods and services. Given...
The first two chapters focus on the topic: how efficiently do markets reallocate capital in booms and busts, and what are the effects of policies designed to smooth out fluctuations? I exploit a novel dataset of contracts and projects in the offshore oil and gas industry to examine the role...
In the first Chapter of this Dissertation, I develop an integrated reasoning model of expectations formation to describe how people learn the effects of novel macroeconomic policies. My model of expectations has two key elements. First, people have a limited ability to understand the general-equilibrium effects of a new policy....
This thesis contains three chapters studying the evolution of the American higher education landscape, the different forces that shaped their organization, and how they, in turn, influenced human capital accumulation. The chapters are organized into three time periods: 1850-1900, 1910-1940, and 1980-2010. In the first chapter, joint with Heyu Xiong,...
Social networks play a crucial role in developing economies. One of their most important functions is facilitating the flow of information, particularly about the efficacy of new technologies. This dissertation explores three aspects of this research agenda. First, I study how economists can estimate the structure of a social network...