Working Papers

"The Rise of Pass-Throughs: An Empirical Investigation," with Sebastian Dyrda, February 2024. Revision invited at Economic Journal.
Download 1982-2015 TLFO transitions


"Superstar Firms through the Generations", with Yueran Ma and Kaspar Zimmermann, June 2023. [sed slides] [clemson slides]


"The Uneven Welfare Costs of the Volcker Disinflation", with Hannah Rubinton, April 2023.  Revision invited at JPE: Macro.


"Taxes, Private Equity and Evolution of Income Inequality in the U.S." with Sebastian Dyrda, August 2019  [EM3C Slides] [MWM]

Publications

"Demographic Origins of the Startup Deficit", with Fatih Karahan and Ayşegül Şahin

American Economic Review, Forthcoming

Published version | Online appendix  |  New York Fed Staff Report 888  |  NBER Working Paper w25874  | |[EF&G Slides] [ZEW]


"The Nature of Firm Growth", with Petr Sedlacek and Vincent Sterk

American Economic Review, Volume 111(2), February 2021, Pages 547-79.

Published version | Online appendix  |  Download autocovariance moments  | CEPR Discussion Paper DP12670


"Grown-up Business Cycles", with Ayşegül Şahin

The Review of Financial Studies, Volume 32(3), March 2019, Pages 1102–47. 

Published version  |  Online appendix  |  Replication files  |  New York Fed Staff Report 707  


"Older and Slower: The Startup Deficit's Lasting Impact on Productivity Growth" , with Titan Alon, David Berger, and Rob Dent 

Journal of Monetary Economics, Volume 93, January 2018, Pages 68-85.

Published version | Online appendix | NBER Working Paper w23875  


"Do Job to Job Transitions Drive Wage Growth over the Business Cycle"  with Fatih Karahan, Ryan Michaels, Ayşegül Şahin, and Rachel Schuh 

American Economic Review: P&P, Volume 107(5), May 2017, Pages 353-57.

Online appendix  |  Replication files  


"The Role of Startups in Structural Transformation", with Rob Dent, Fatih Karahan, and Ayşegül Şahin

American Economic Review, P&P, Volume 106(5), May 2016, 

Online appendix  |  Replication files  |  New York Fed Staff Report 762  


"Wealth, Tastes and Entrepreneurship", with Erik Hurst

Chapter in Measuring Entrepreneurial Businesses: Current Knowledge and Challenges, 2017

NBER Working Paper w21644  | BibTeX


"Are Household Surveys Like Tax Forms: Evidence from Income Underreporting of the Self-Employed", with Erik Hurst and Geng Li

Review of Economics and Statistics, Volume 96(1), March 2014, Page 19-33

Published version | Online appendix  |  Replication files  | NBER Working Paper w16527  


"What do Small Businesses Do?",  with Erik Hurst

Brookings Papers on Economic Activity, Fall 2011

Replication files  |  NBER Working Paper w17041  


"The Mistake of 1937: A General Equilibrium Analysis" with Gauti Eggertsson

Monetary and Economic Studies, Volume 24(S1), Dec 2006, Pages 151-190.

Published Comments

"Comment on `Structural Transformation and the Rise of Information Technology' by Gallipoli and Makridis"

Journal of Monetary Economics, Volume 97, August 2018, Pages 111-15.

Published version  | Replication files  


Research in Progress

Discussions

Other writing