Research

Working Papers; Comments Welcome

The Strange and Awful Path of Productivity in the U.S. Construction Sector. (with Austan Goolsbee)

Managers and Productivity in Retail. (with Robert Metcalfe and Alex Sollaci)

Spatial Competition, Strategic Entry Responses, and the North Dakota Railroad War of 1905.

Micro- and Macroeconomic Impacts of a Place-Based Industrial Policy. (with Enghin Atalay, Ali Hortaçsu, Mustafa Runyun, and Mehmet Fatih Ulu)

The Anatomy of a Hospital System Merger: The Patient Did Not Respond Well to Treatment. (with Martin Gaynor, Adam Sacarny, Raffaella Sadun, Shruthi Venkatesh)

Monopsony Power in Higher Education: A Tale of Two Tracks. (with Austan Goolsbee)

Productivity Gaps and Job Flows: Evidence from Censal Microdata. (with Elías Albagli, Mario Canales, Matías Tapia, and Juan Wlasiuk)

Misallocation Measures: The Distortion That Ate the Residual. (with John Haltiwanger and Robert Kulick)

The Effects of Environmental Regulation on the Competitiveness of U.S. Manufacturing. (with Michael Greenstone and John List)

Publications

Marketing Investment and Intangible Brand Capital. (with Bart Bronnenberg and Jean-Pierre Dubé), Journal of Economic Perspectives, Summer 2022.

An Industrial Organization Perspective on Productivity. (with Jan De Loecker) in Handbook of Industrial Organization, Vol 4.

Enhancing Regulatory Decision-Making for Postmarket Drug Safety. (with Vishal Ahuja, John R. Birge, and Carlos Alvarez), Management Science, December 2021.

Fear, Lockdown, and Diversion: Comparing Drivers of Pandemic Economic Decline 2020. (with Austan Goolsbee), Journal of Public Economics, January 2021.

  County-level policy dataset. (with Nicole Bei Luo and Roxanne Nesbitt)

  Updated results for summer and fall 2020 lockdowns.

The Productivity J-Curve: How Intangibles Complement General Purpose Technologies. (with Erik Brynjolfsson and Daniel Rock), American Economic Journal: Macroeconomics, January 2021.

Microeconomics, 3rd Ed. (with Austan Goolsbee and Steve Levitt), Worth, 2019.

Macroeconomics and Market Power: Context, Implications, and Open Questions. Journal of Economic Perspectives, Summer 2019.

Macroeconomics and Market Power: Facts, Potential Explanations, and Open Questions. Brookings Institution Report, January 2019.

Artificial Intelligence and the Modern Productivity Paradox: A Clash of Expectations and Statistics (with Erik Brynjolfsson and Daniel Rock), in The Economics of Artificial Intelligence: An Agenda, Agrawal, Gans, and Goldfarb (eds.), 2019

Remarks Made at the 2018 Jackson Hole Symposium, 'Changing Market Structures and Implications for Monetary Policy'

Sales Force and Competition in Financial Product Markets: The Case of Mexico's Social Security Privatization (with Justine Hastings and Ali Hortaçsu). Econometrica, November 2017.

Audit Firms Face Downward-Sloping Demand Curves and the Audit Market Is Far from Perfectly Competitive (with Joseph Gerakos), Review of Accounting Studies, December 2017.

Challenges to Mismeasurement Explanations for the U.S. Productivity Slowdown. Journal of Economic Perspectives, Spring 2017.

Healthcare Exceptionalism? Performance and Allocation in the U.S. Healthcare Sector (with Amitabh Chandra, Amy Finkelstein, and Adam Sacarny). American Economic Review, August 2016.

Productivity Dispersion in Medicine and Manufacturing (with Amitabh Chandra, Amy Finkelstein, and Adam Sacarny). American Economic Review Papers and Proceedings, May 2016.

The Slow Growth of New Plants: Learning about Demand (with Lucia Foster and John Haltiwanger), Economica, January 2016.

Microeconomics, 2nd Ed. (with Austan Goolsbee and Steve Levitt), Worth, 2016.

Geographic Variation in Rosiglitazone use Surrounding FDA Warnings in the Department of Veterans Affairs (with Vishal Ahuja, Min-Woong Sohn, John R. Birge, Elly Budiman-Mak, Nicholas Emanuele, Jennifer M. Cooper, and Elbert S. Huang), Journal of Managed Care & Specialty Pharmacy, December 2015.

The Ongoing Evolution of US Retail: A Format Tug-of-War (with Ali Hortaçsu), Journal of Economic Perspectives, Fall 2015.

Competition in the Audit Market: Policy Implications (with Joseph Gerakos) Journal of Accounting Research, September 2015.

Acquisitions, Productivity, and Profitability: Evidence from the Japanese Cotton Spinning Industry (with Serguey Braguinsky, Atsushi Ohyama, and Tetsuji Okazaki) American Economic Review, July 2015. Online appendix

"Vertical Integration and Input Flows." (with Enghin Atalay and Ali Hortaçsu); formerly "Why Do Firms Own Production Chains?" American Economic Review, April 2014.

“The Importance of Measuring Dispersion in Firm-Level Outcomes.” in IZA World of Labor, Bloomsbury, May 2014.

"Toward an Understanding of Learning by Doing: Evidence from an Automobile Plant." (with Steve Levitt and John List). Journal of Political Economy, August 2013.

"Indirect Costs of Financial Distress in Durable Goods Industries: The Case of Auto Manufacturers." (with Ali Hortaçsu, Gregor Matvos, and Sriram Venkataraman). Review of Financial Studies, May 2013.

Microeconomics. (with Austan Goolsbee and Steve Levitt), Worth, 2013.

"Will History Repeat Itself? Comments on 'Is the Information Technology Revolution Over?'" International Productivity Monitor, Spring 2013, 37-40.

"Online vs. Offline Competition." (with Ethan Lieber), in Oxford Handbook of the Digital Economy, Martin Peitz and Joel Waldfogel (eds.), 2012, 189-223.

"What Determines Productivity?" Journal of Economic Literature, June 2011.

"Is an Automaker's Road to Bankruptcy Paved with Customers' Beliefs?" (with Ali Hortaçsu, Gregor Matvos, Chaehee Shin, and Sriram Venkataraman), American Economic Review Papers and Proceedings, May 2011. Online appendix.

"Network Structure of Production” (with Enghin Atalay, Ali Hortaçsu and Jimmy Roberts), Proceedings of the National Academy of Sciences, March 29, 2011.

"Technological Change and the Growing Inequality in Managerial Compensation," (with Hanno Lustig and Stijn Van Nieuwerburgh), Journal of Financial Economics, March 2011.

"E-commerce and the Market Structure of Retail Industries," (with Maris Goldmanis, Ali Hortaçsu, and Onsel Emre), Economic Journal, June 2010.

"How Do Incumbents Respond to the Threat of Entry? Evidence from the Major Airlines," (with Austan Goolsbee), Quarterly Journal of Economics, November 2008.

"Market Distortions When Agents are Better Informed: The Value of Information in Real Estate Transactions," (with Steve Levitt), Review of Economics and Statistics, November 2008.

"Reallocation, Firm Turnover, and Efficiency: Selection on Productivity or Profitability?" (with Lucia Foster and John Haltiwanger), American Economic Review, March 2008. Note on robustness to removing modal price observations.

"Markets: Ready-Mixed Concrete," Journal of Economic Perspectives, Winter 2008

"Antitrust Implications of Home Seller Outcomes when using Flat-Fee Real Estate Agents" (with Steve Levitt), Brookings-Wharton Papers on Urban Affairs 2008.

"Prices, Spatial Competition, and Heterogeneous Producers: An Empirical Test," Journal of Industrial Economics, June 2007

"Cementing Relationships: Vertical Integration, Foreclosure, Productivity, and Prices," (with Ali Hortaçsu), Journal of Political Economy, April 2007

"Market Structure and Productivity: A Concrete Example," Journal of Political Economy, December 2004

"Product Differentiation, Search Costs, and Competition in the Mutual Fund Industry: A Case Study of S&P 500 Index Funds," (with Ali Hortaçsu), Quarterly Journal of Economics, May 2004

"Product Substitutability and Productivity Dispersion," Review of Economics and Statistics, May 2004

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