Publications

Long Run Productivity Risk and Aggregate Investment, 2013, with Jack Favilukis. Forthcoming, Journal of Monetary Economics. Supersedes the working paper previously circulated as Micro Frictions, Asset Pricing, and Aggregate Implications.

Brand Capital, Firm Value, and Asset Returns, 2013, with Frederico Belo and Maria Ana Vitorino. Forthcoming at Review of Economic Dynamics

The Investment Manifesto, 2013, with Lu Zhang. Journal of Monetary Economics, 60 (3), 351-366. |SAS and Matlab Codes

The Inventory Growth Spread, 2012, with Frederico Belo. Review of Financial Studies, 25 (1): 278-313

Endogenous Technological Progress and the Cross Section of Stock Returns, 2012. Journal of Financial Economics, 103 (2): 411-428 [Winner of the Trefftzs Award for the Best Student Paper, WFA 2008]

 

Working Papers

My SSRN Page | My Google Scholar Page

Financial Shocks and Asset Prices, with Fan Yang (Draft coming soon)

Labor Heterogeneity and Asset Prices: The Importance of Skilled Labor, Nov 2012, with Frederico Belo

Does Wage Rigidity Make Firms Riskier? Evidence from Long-Horizon Return Predictability, October 2012, with Jack Favilukis

Labor Hiring, Investment and Stock Return Predictability in the Cross Section, September 2012, with Frederico Belo and Santiago Bazdresch | Online Appendix

Wage Rigidity: A Solution to Several Asset Pricing Puzzles, August 2012, with Jack Favilukis. |Slides|

Technology Adoption, Vintage Capital and Asset Prices, September 2009

 

Professional Presentations

Fiscal Policy and the Distribution of Consumption Risk, by Croce, Nguyen, and Schmid, Mitsui Finance Symposium, Michigan, 2012

Corporate Investment Over Uncertain Business Cycles, by Dangl and Wu, FIRS 2012

Risk Analysis of Investment-Based Models,  Guest Lecture, University of Minnesota, 2010

Innovation and Investment Bubbles,  by Langberg and Kumar, Western Finance Association Annual Meetings, 2009

Durability of Output and Expected Stock Returns, by Gomes, Kogan and Yogo, FMG conference on Housing, Financial Markets and the Macroeconomy, 2009