Published or Forthcoming Papers

Debt Moratoria: Evidence from Student Loan Forbearance
American Economic Review: Insights, Conditionally Accepted
Coauthors: Michael Dinerstein and Ching-Tse Chen
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Does Private Equity Investment in Healthcare Benefit Patients? Evidence from Nursing Homes
Review of Financial Studies, Conditionally Accepted
Best Health and Finance Paper Award, Midwest Finance Association 2021
Coauthors: Atul Gupta, Sabrina Howell and Abhinav Gupta
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Competition and Selection in Credit Markets
Journal of Financial Economics, Accepted
Coauthor: Anthony Lee Zhang
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Tuition, Debt and Human Capital
Review of Financial Studies, 36(4), 1667–1702, April 2023
Best Paper Award, LBS Summer Finance Symposium 2017
Coauthors: Raji Chakrabarti, Slava Fos, and Andres Liberman
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Household Behavior (Consumption, Credit and Investments) During the COVID-19 Pandemic
Annual Review of Financial Economics, 15, November 2023
Coauthors: Livia Amato
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The Distributional Effects of Student Loan Forgiveness
Journal of Financial Economics, 147 (2), 297–316, February 2023
Coauthor: Sylvain Catherine
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Epidemic Responses Under Uncertainty
Proceedings of the National Academy of Sciences, 120(2), January 2023
Coauthors: Michael Barnett and Greg Buchak
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Measuring the Welfare Costs of Asymmetric Information in Consumer Credit Markets
Journal of Financial Economics,146 (3), 840–793, December 2022
Editor's Choice, December 2022
Best Paper Award, Red Rock Finance Conference 2021
Jensen Prize (2nd Prize), Best Paper in the Journal of Financial Economics 2022
Coauthors: Anthony DeFusco and Huan Tang
Stata Command
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Human Capital Depreciation
American Economic Review, 112 (11), 3725–3762, November 2022
Coauthors: Michael Dinerstein and Rigissa Megalokonomou
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Student Loans and Borrower Outcomes
Annual Review of Financial Economics,14, November 2022
Coauthors: Greg Tracey
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Did the Paycheck Protection Program Hit the Target?
Journal of Financial Economics,145(3), 725–761, September 2022
Coauthors: Joao Granja, Christos Makridis and Eric Zwick
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The Consequences of Student Loan Credit Expansions: Evidence from Three Decades of Default Cycles
Journal of Financial Economics, 143(2), 771-793 February 2022
Coauthor: Adam Looney
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Increasing Enrollment in Income-Driven Student Loan Repayment Plans
Journal of Finance77(1), 367-402 February 2022
Coauthor: Holger Mueller
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Income, Liquidity, and the Consumption Response to the 2020 Economic Stimulus Payments
Review of Finance, Conditionally Accepted
Coauthors: Scott Baker, R.A. Farrokhnia, Steffen Meyer and Michaela Pagel
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A Day Late and a Dollar Short: Liquidity and Household Formation among Student Borrowers
Journal of Financial Economics, 142(3), 1301-1323, December 2021
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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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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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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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

Working Papers 

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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What Went Wrong with Federal Student Loans?
In preparation for the Journal of Economic Perspectives
Coauthors: Adam Looney
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Corporate Taxes and Prices
Coauthors: Scott Baker and Stephen Sun
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Does Climate Change Impact Sovereign Bond Yields?
Coauthor: Michael Barnett
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Skin in the Game: Colleges’ Financial Incentives and Student Outcomes
Coauthors: Nano Barahona, Cauê Dobbin, Hanson Ho, Sebastián Otero
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Income-Driven Repayment Plans for Student Loans
Coauthors: Nadia Karamcheva, Jeffrey Perry
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Monetary Policy Transmission Through Online Banks
Coauthors: Isil Erel, Jack Liebersohn, Samuel Earnest
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Discount Factors and Monetary Policy: Evidence from Dual-listed Stocks
Coauthors: Quentin Vandeweyer, Minghao Yang
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Data and Welfare in Credit Markets
SIX Best Paper Award, Swiss Society for Financial Market Research 2022
Coauthors: Mark Jansen, Fabian Nagel, Anthony Lee Zhang
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