Working Papers

This paper formulates a model of turbulent endogenous growth. Turbulence denotes the endogenous job reallocation due to entry, exit, and churning (movements within the firm-size distribution). The insight central to the model is that the forces that drive aggregate growth also drive turbulence because the two are manifestations of a single underlying process: competition for market share.

Work In Progress

Innovation over the Business Cycle: Recoveries and the Permanent Effects of Recessions

This paper presents an endogenous growth model to account for the permanent effect of the business cycle on aggregate productivity.