RM
Economist at CU Boulder

Research

Papers on international finance, firm and household heterogeneity, and technology

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Working Papers

Works in Progress

Technology and the 21st-Century Firm

Measures each U.S. public firm's technology profile from the text of its filings and patents, and estimates production functions whose input elasticities vary with firm characteristics rather than being fixed within an industry.

Draft available upon request.

Technology Misallocation

with Miguel León-Ledesma

Decomposes aggregate productivity to separate technology misallocation, where firms adopt narrower technology portfolios than their scale would support, from the resource misallocation of Hsieh and Klenow.

Preparing first draft.

AI and the Technological Frontier

Builds a capability taxonomy for patents, a technology-side counterpart to O*NET, and uses it to measure how exposed each patent, and each firm, is to advancing AI capabilities.

Preparing first draft.

The Heterogeneous-Agent Heterogeneous-Asset Pricing Model

Combines the technology-driven heterogeneity in firms' systematic risk with preference heterogeneity in investors' risk aversion, and studies how the two interact and shape asset prices in equilibrium.

Preparing first draft.