1. Publications

My SSRN Page | My Google Scholar Page


Investment, Tobin’s q, and Interest Rates, 2017, with Chong Wang, Neng Wang, and Jinqiang Yang, Forthcoming Journal of Financial Economics

Labor-Force Heterogeneity and Asset Prices: The Importance of Skilled Labor, 2017, with Frederico Belo, Jun Li, and Xiaofei Zhao, Review of Financial Studies 30 (10): 3669–3709 | Online Appendix | Industry Level Skill Data

Does Wage Rigidity Make Firms Riskier? Evidence from Long-Horizon Return Predictability, 2016, with Jack Favilukis, Journal of Monetary Economics, 78, 80-95 | Online Appendix

Wage Rigidity: A Quantitative Solution to Several Asset Pricing Puzzles, 2016, with Jack Favilukis. Review of Financial Studies, 29 (1), 148-192 | Online Appendix

Labor Hiring, Investment and Stock Return Predictability in the Cross Section, 2014, with Frederico Belo and Santiago Bazdresch. Journal of Political Economy, 122(1) 129-177 | Online Appendix

Brand Capital, Firm Value, and Asset Returns, 2014, with Frederico Belo and Maria Ana Vitorino. Review of Economic Dynamics, 17(1) 150-169 | Online Appendix

Long Run Productivity Risk and Aggregate Investment, 2013, with Jack Favilukis, Journal of Monetary Economics, 60 (6): 737-751. Supersedes the working paper previously circulated as Micro Frictions, Asset Pricing, and Aggregate Implications

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]