Articles
- Incentive-Compatible Unemployment
Reinsurance for the Euro Area, European
Economic Review 186, 2026
(with B. Mojon, L. Pereira da Silva, A.
Pierres-Tejada and R. Townsend) [PDF]
NBER Working Paper 32396 Keywords: unemployment insurance, risk sharing, reinsurance, euro area, fiscal policy,mechanism design, limited commitment - Economic Determinants of
Ethereum Transaction Fees in the Priority Fee
and Proof of Stake Periods, Applied
Economics 57(58), 2025 (with S. Zarifian) [PDF]
Keywords: transaction fees, Ethereum blockchain, gas price, supply and demand factors, time series analysis
- Digital Safety Nets: A
Roadmap, BIS Papers 139, 2023
(with B. Mojon, L. Pereira da Silva and R.
Townsend) [PDF]
Keywords: digital platforms, risk sharing, smart contracts
- COVID-19 Vaccination
Mandates and Vaccine Uptake, Nature
Human Behaviour 6, 2022 (with D. Kim, S.
Lu and H. Shigeoka) [PDF]
NBER Working Paper 29563 *Policy/media: CDC, Nature, The Economist, Euronews, National Post, Financial Post, Toronto Star, EPI, ACSH, U of Tokyo, SFU News Keywords: COVID-19, vaccine mandates, vaccine certificates, vaccine uptake, vaccine hesitancy, proof of vaccination, difference-in-differences, time series, counterfactuals -
Involuntary
Entrepreneurship - Evidence from Thai
Urban Data, World Development
149, 2022 (with T. Yindok) [PDF]
Keywords: entrepreneurship, credit constraints, occupational choice, misallocation - Transaction Fee
Economics in the Ethereum Blockchain,
Economic Inquiry 60, 2022 (with A.
Donmez) [PDF]
Keywords: blockchain, transaction fees, Ethereum, time series, queueing theory - Face Masks, Public
Policies and Slowing the Spread of
COVID-19: Evidence from Canada, Journal
of Health Economics 78, 2021 (with
S. Lu, H. Shigeoka, C. Chen and S.
Pamplona) [PDF]
NBER Working Paper 27891 *Policy/media: WHO, WHO(2), CDC, Gov. of Canada, ECDC, Nature, National Post, Vancouver Sun, Ottawa Citizen, New York Post, Yahoo!, The Telegraph, VoxEU, SFU News Keywords: COVID-19, face masks, mask wearing, non-pharmaceutical interventions (NPI), event study, counterfactuals -
A Social Network
Model of COVID-19, PLOS One
15(10), 2020 [PDF]
Keywords: COVID-19, social networks, superspreaders, simulations, policy interventions, NPI - Credit Lines in
Microcredit: Short-Term Evidence
from a Randomized Controlled Trial
in India, Journal of
Development Economics 146, 2020
(with F. Aragon and K. Krishnaswamy) [PDF]
Keywords: microfinance, credit line, flexible loans, field experiment, RCT - Bogus Joint
Liability Groups in Microfinance,
European Economic Review 122, 2020 (with Y. Xue and X. Xing)
[PDF]
Keywords: microcredit, default, joint liability, Lei Da Hu, phantom borrowers - Family Firms, Bank
Relationships and Financial
Constraints: A Comprehensive Score
Card, International Economic
Review 60(2), 2019 (with J.
Saurina and R. Townsend) [PDF]
Keywords: family firms, firm networks, investment cashflow sensitivity, financial constraints - Markov-perfect Risk
Sharing, Moral Hazard and Limited
Commitment, Journal of
Economic Dynamics and Control
94, 2018 (with F. Martin) [PDF]
Keywords: Markov-perfect equilibrium, time consistency, insurance, risk sharing - (Dis)Advantages of
Informal Loans - Theory and
Evidence, European Economic
Review 102, 2018 (with A.
Kessler) [PDF]
- Non-grant
Microfinance, Incentives and
Efficiency, Applied
Economics 50, 2018 [PDF]
- Market Power and
Asset Contractibility in Dynamic
Insurance Contracts, Federal
Reserve Bank of St. Louis Review
98(2), 2016 (with F. Martin) [PDF]
- Dynamic Optimal
Insurance and Lack of Commitment,
Review of Economic Dynamics
18(2), 2015 (with F. Martin) [PDF]
- Dynamic Financial
Constraints: Distinguishing
Mechanism Design from Exogenously
Incomplete Regimes, Econometrica
82(3), 2014 (with R. Townsend) [PDF] [Supplement]
NBER Working Paper 19617Keywords: consumption smoothing, investment, model selection, structural maximum likelihood, moral hazard, limited commmitment - Contractual
Structure in Agriculture with
Endogenous Matching, Journal
of Development Economics 110 Special
Issue: Land and Property Rights,
2014 (with M. Ghatak) [PDF]
Keywords: tenancy contracts, sharecropping, matching, double-sided moral hazard - Financial
Constraints and Occupational Choice
in Thai Villages, Journal of
Development Economics 97(2),
2012 [PDF]
Keywords: entrepreneurship, financial constraints, maximum likelihood, lotteries, moral hazard, saving, borrowing - Learning by Doing
vs. Learning from Others in a
Principal-Agent Model, Journal
of Economic Dynamics and Control
34(10), 2010 (with J. Arifovic) [PDF]
Keywords: social learning, individual learning, evolutionary learning, reinforcement learning, share contract, moral hazard - Heterogeneity,
Returns to Scale, and Collective
Action, Canadian Journal of
Economics 42(2), 2009 [PDF]
Keywords: public goods, wealth inequality, valuation heterogeneity, expected provision, replacement function - Understanding
Optimal Criminal Networks, Global
Crime 10(1), 2009 (with S.
Easton) [PDF]
Keywords: network theory, organized crime, law enforcement - Wealth Inequality
and Collective Action,
Journal of Public Economics
91 Special Issue: Celebrating
the 20th Anniversary of Bergstrom,
Blume, and Varian's “On the Private
Provision of Public Goods", 2007
(with P. Bardhan and M. Ghatak) [PDF]
Keywords: public goods, inequality, within-group inequality, between-group inequality - Can a Raise in Your
Wage Make You Worse Off? A Public
Goods Perspective, Journal
of Development Economics 84(1),
2007 (with S. Ghosh) [PDF]
Keywords: public goods, externalities, opportunity cost of time - A Case for Bundling
Public Goods, Journal of
Public Economic Theory 9(3),
2007 (with S. Ghosh and M. Oak) [PDF]
Keywords: voluntary contributions, pooling, fundraising, income inequality - Distinguishing
Limited Liability From Moral Hazard
in a Model of Entrepreneurship,
Journal of Political Economy
144(1), 2006 (with A. Paulson and R.
Townsend) [PDF]
Keywords: occupational choice, financial constraints, limited commitment, maximum likelihood, Vuong test - Pareto Improving
Lotteries and Voluntary Public Good
Provision, The B.E. Journal
of Theoretical Economics (Topics)
6(1), 2006 [PDF]
Keywords: randomization, inequality, collective action - Social Learning in a Model of Adverse Selection, ch.12 in D. West, G. Dow and A. Eckert (eds.), Industrial Organization, Trade, and Social Interaction, University of Toronto Press, 2010 (with J. Arifovic) [PDF]
- Inequality and Collective Action, ch.3 in P. Bardhan, S. Bowles and J-M. Baland (eds.), Inequality, Cooperation and Environmental Sustainability, Princeton University Press, 2006 (with P. Bardhan and M. Ghatak) [PDF]
- Face mask mandates slowed the spread of COVID-19 in Canada, VoxEU, 2020 (with S. Lu and H. Shigeoka)
- Criminal Organizations and Networks, in Robert D. Morgan (ed.) The SAGE Encyclopedia of Criminal Psychology, SAGE Publications Inc., 2019 (with S. Easton)
- The Impact of a Micro-Overdraft Facility in India, Financial Access Initiative, 2016 (with K. Krishnaswamy)
- Understanding Optimal Criminal Networks, ch. 4 in M. Bouchard and C. Wilkins (eds.) Illegal Markets and the Economics of Organized Crime, Routledge, 2010 (with S. Easton)
- Distinguishing Limited Liability from Moral Hazard in a Model of Entrepreneurship, ch. 5 in T. Beck (ed.) Entrepreneurship in Developing Countries, Edward Elgar Publishing, 2009 (with A. Paulson and R. Townsend)
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