This paper develops a micro-founded general equilibrium model of payments to study the impact of a central bank digital currency (CBDC) on intermediation of private banks[...]

Code and data to replicate the results of the article.

Matlab code and data for peer-reviewed article published in Review of Economic Dynamics. Paper published onli[...]

We study the identification and estimation of first-price auctions with independent private values if bidders face ambiguity about the valuation distribution and have max[...]

This project studies economies with markets for capital reallocation, where gains from trade are driven by firm-specific productivity shocks, but are hindered by search f[...]

We study dynamic general equilibrium models where capital is traded in frictional markets featuring liquidity considerations. Gains from trade arise from ex ante heteroge[...]

This paper shows point-identification in first-price auctions with risk aversion and unobserved auction heterogeneity, by exploiting multiple bids per auction and variati[...]

This paper studies the inference problem of an infinite-dimensional parameter with a shape restriction. This parameter is identified by arbitrarily many unconditional mom[...]

Outlier-robust estimators are proposed for linear dynamic fixed-effect panel data models where the number of observations is large and the number of time periods is small[...]

Many papers on liquidity have bilateral trade with buyers constrained by their money holdings or debt limits. Axiomatic bargaining, typically Nash, determines the terms o[...]

The is the replication package for "Bank Market Power and Central Bank Digital Currency: Theory and Quantitative Assessment," accepted in 2022 by the Journal of Political[...]