We develop a simple equilibrium model of rental markets for housing in which eviction
occurs endogenously. Both landlords and renters lack commitment; a landlord evicts a …

The role that venture capital (VC) plays in helping promising startups achieve high growth is
examined. Three facts are documented from administrative US Census data and proprietary …

I study the job impacts of the Community Development Block Grant (CDBG), a federal
program which provides cities and urban counties with annual block grants to flexibly spend …

How do banks affect innovation when there exist liquidity constraints? Between 1750 and
1825, country banks in England and Wales provided short-term loans to clients due to legal …

This paper investigates how financial frictions and market power interact in shaping firms'
incentives to innovate. I document stylized facts about innovation using a comprehensive …

Using US firm level data we find strong positive correlations between investment and debt
issuance spikes, and between the firm investment lumpiness and interest rate spreads. A …

The climate-macro literature largely focuses on optimal policies to address climate feedback
in a representative firm framework. Empirically, we show that the emission intensity of …

Using US firm-level data, we document significant differences in pollution abatement
activities over the life cycle of firms. Under financial constraints, smaller and younger firms …

The climate-macro literature largely focuses on optimal policies to address climate feedback
in a representative firm framework. Empirically, we show that the emission intensity of US …