Current Work

Working paper Submitted

Monopolistically Skewed Business Cycles: On the Origins of Distributional Fluctuations

With Frederik Bennhoff and Niklas Schmitz

Latest draft · September 2026

Working paper New draft

U.S. Trade Policy and Euro Area Bank Lending

With Tamar den Besten, Stephen Kho and Sebastian Rast

Latest draft · August 2026

Working paper Submitted

Dry Firms, Deep Recessions: Corporate Payouts and Aggregate Dynamics

With Miguel H. Ferreira and Hanbaek Lee

Latest draft · August 2026

Working paper

Lumpy to Slumpy: How financing costs drive slow recoveries

With Miguel H. Ferreira and Hanbaek Lee

Latest draft · June 2026

Working paper

Financial Constraints and Firm Size: Micro-Evidence and Aggregate Implications

With Miguel H. Ferreira and Christian Rörig

Latest draft · October 2024

Work in progress

The Marginal Propensity to Invest: Theory, Evidence, and Macroeconomic Implications

With Andrea Chiavari, Jeanne Commault, Miguel H. Ferreira and Carlos Daniel Santos