Working Papers

Capital Structure and Hedging Demand with Incomplete Markets, with Alberto Bisin and Piero Gottardi , NBER Working Paper #20345 (Current version: January 2022)

On The Calibration of Competitive Industry Dynamics Models, with Dino Palazzo (January 13, 2016)

Executive Compensation: Facts, with Tom Cooley, NBER Working Paper #15426 (Current version: July 22, 2010)

IPOs and The Growth of Firms (Current version: April 2002)

Papers published or accepted for publication

Investment and the Cross-Section of Equity Returns, with Dino Palazzo, Journal of Finance, Volume 74, Issue 1, February 2019, pages 281-321.

Entry, Exit, Firm Dynamics, and Aggregate Fluctuations, with Dino Palazzo, American Economic Journal: Macroeconomics, Volume 8, Issue 3, July 2016, pages 1-41.

Cross-Sectoral Variation in The Volatility of Plant-Level Idiosyncratic Shocks, with Rui Castro and Yoonsoo Lee, Journal of Industrial Economics, Volume 63, Issue 1, March 2015, pages 1-29.

A Theory of Firm Decline, with Tom Cooley and Sonia Di Giannatale, Review of Economic Dynamics, Volume 13, Issue 4, October 2010, pages 861-885.

Asset Pricing in a Production Economy with Chew-Dekel Preferences, with Claudio Campanale and Rui Castro, Review of Economic Dynamics, Volume 13, Issue 2, March 2010, pages 379-402.

The Economic Effects of Improving Investor Rights in Portugal, with Rui Castro, Portuguese Economic Journal, Volume 8, Issue 2, August 2009, pages 59-97.

Legal Institutions, Sectoral Heterogeneity, and Economic Development, with Rui Castro and Glenn MacDonald, Review of Economic Studies, Volume 76, Issue 2, April 2009, pages 529-561.

Stock Grants as a Commitment Device, with Tom Cooley and Cheng Wang, Journal or Economic Dynamics and Control, Volume 30, Issue 11, November 2006, pages 2191-2216

A Theory of Financing Constraints and Firm Dynamics , with Hugo Hopenhayn, Quarterly Journal of Economics, Volume 121, Issue 1, February 2006, pages 229-265

Investor Protection, Optimal Incentives, and Economic Growth, with Rui Castro and Glenn MacDonald, Quarterly Journal of Economics, Volume 119, Issue 3, August 2004, pages 1131-1175.