Research

Working Papers

Human Capital Depreciation
American Economic Review, R&R
Coauthors: Michael Dinerstein and Rigissa Megalokonomou
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Debt and Human Capital: Evidence from Student Loans
Review of Financial Studies, R&R
Best Paper Award, LBS Summer Finance Symposium 2017
Coauthors: Raji Chakrabarti, Slava Fos, and Andres Liberman
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Strategic Default on Student Loans
Journal of Finance, R&R
Best Paper Award, FMA Napa Conference on Financial Markets Research 2017
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Income-Driven Repayment Plans for Student Loans
Journal of Financial Economics, R&R
Coauthors: Jeffrey Perry and Nadia Karamcheva
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Did the Paycheck Protection Program Hit the Target?
Coauthors: Joao Granja, Christos Makridis and Eric Zwick
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Income, Liquidity, and the Consumption Response to the 2020 Economic Stimulus Payments
Coauthors: Scott Baker, R.A. Farrokhnia, Steffen Meyer and Michaela Pagel
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Epidemic Responses Under Uncertainty
Coauthors: Michael Barnett and Greg Buchak
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Does Private Equity Investment in Healthcare Benefit Patients? Evidence from Nursing Homes
Best Health and Finance Paper Award, Midwest Finance Association 2021
Coauthors: Atul Gupta, Sabrina Howell and Abhinav Gupta
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Asymmetric Information in Student Loans
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Corporate Taxes and Prices
Coauthors: Scott Baker and Stephen Sun
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The Impact of Regulation on Firms
Coauthor: Robin Gong
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Measuring the Welfare Effects of Adverse Selection in Consumer Credit Markets
Coauthors: Anthony DeFusco and Huan Tang
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The Distributional Effects of Student Loan Forgiveness
Coauthor: Sylvain Catherine
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Competition and Selection in Credit Markets
Coauthor: Anthony Lee Zhang
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Published or Forthcoming Papers

The Consequences of Student Loan Credit Expansions: Evidence from Three Decades of Default Cycles
Journal of Financial Economics, Accepted
Coauthor: Adam Looney
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Reducing Barriers to Enrollment in Federal Student Loan Repayment Plans
Journal of Finance, Conditionally Accepted
Coauthor: Holger Mueller
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A Day Late and a Dollar Short: Liquidity and Household Formation among Student Borrowers
Journal of Financial Economics, Accepted
Coauthors: Adam Isen and Sarena Goodman
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Loan Guarantees and Credit Supply
Journal of Financial Economics, 139 (3), 872-894, March 2021
Coauthors: Natalie Cox and Olivia Kim
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Financial Inclusion, Human Capital, and Wealth Accumulation: Evidence from the Freedman’s Savings Bank
Review of Financial Studies, 33 (11), 5333–5377, November 2020
Best Paper Award, University of Oregon Summer Finance Conference 2019
Coauthors: Luke Stein
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When Investor Incentives and Consumer Interests Diverge: Private Equity in Higher Education
Review of Financial Studies, 33 (9), 4024–4060, September 2020
Best Paper Award, Private Equity Research Consortium 2018
Coauthors: Charlie Eaton and Sabrina Howell
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Does Climate Change Affect Real Estate Prices? Only If You Believe in it
Review of Financial Studies, 33 (3), 1256–1295, March 2020
Coauthor: Markus Baldauf and Lorenzo Garlappi
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How Does Household Spending Respond to an Epidemic? Consumption During the 2020 COVID-19 Pandemic
Review of Asset Pricing Studies, 10 (4), 834–862, December 2020
Coauthors: Scott Baker, R.A. Farrokhnia, Steffen Meyer and Michaela Pagel
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The Rise in Student Loan Defaults
Journal of Financial Economics, Lead Article 131(1), 1-31, January 2019
Coauthor: Holger Mueller
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Income Changes and Consumption: Evidence from the 2013 Federal Government Shutdown
Review of Economic Dynamics, 23(1), 99-124, January 2017
Coauthor: Scott Baker
Media Coverage: Stanford Report | Sierra Sun Times
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Quantifying the Premium Externality of the Uninsured
Journal of the European Economic Association, 14(2), 405-37, April 2016
Coauthor: Stephen Sun
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Credit Constraints and Demand for Higher Education: Evidence from Financial Deregulation
Review of Economics and Statistics, 98(1), 12-24, March 2016
Coauthor: Stephen Sun
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A Crisis in Student Loans? How Changes in the Characteristics of Borrowers and in the Institutions they Attended Contributed to Rising Loan Defaults
Brookings Papers on Economic Activity, Lead Article 2015(2), 1-89, 2015
Coauthors: Adam Looney
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Media Coverage: WSJ | NYT | Washington Post | Financial Times | Bloomberg | Forbes | LA Times | Vox | Huffington Post | Politifact | Market Watch | Washington Examiner | SFGate | Urban Institute | The Atlantic | Breitbart | National Review

Indiscriminate Discrimination: A Correspondence Test for Ethnic Homophily in the Chicago Labor Market
Labour Economics, 19(6), December 2012
Coauthors: Nicolas Jacquemet
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Media Coverage: Economist