We use administrative payroll data to examine how firms adjust employment in response to aggregate shocks. We use the COVID-19 pandemic as a laboratory. Exploiting within firm-state variation, we find that firms are more likely to lay off low-income and high-tenure employees before other classes...

Using individual level credit information, I estimate the impact of access to ride-sharing on student debt repayment and take-up. I find that following the introduction of ride-sharing services in a city, individuals decrease their student debt balance and probability of default. These results...

In this paper, we provide a global ranking of finance departments in businessschools for the past 20 years and the past decade. The ranking is the first of itskind in many respects – it includes publications in the top 6 finance journals (by2021 impact factor) as well as a host of top journals...

To mitigate asymmetric information in the consumer lending market, lenders typically rely on credit information to grant loans. In this paper, we study how the digitization of employment and income verification promotes inclusive access to credit by further reducing asymmetric information over...

This paper shows that the introduction of the "gig-economy" changes the way employees respond to job loss. Using administrative data on unemployment insurance (UI) claims matched with the credit profiles of individuals in the U.S., we show that laid-off employees with access to Uber are less...

We study dealer compensation in the indirect auto lending market, where most lenders give dealers the discretion to mark up interest rates and the markup constitutes a dealer's compensation. To protect consumers from potential discrimination by this dealer discretion, several banks adopted a...

We examine how the withdrawal of the largest expansion of unemployment insurance (UI) benefits in U.S. history affected job-finding, the demand for other government assistance, and defaults on credit products. Using administrative UI data merged with applications for government services and...

We examine the extent of external labor market punishment for misconduct in finance and contrast the consequences for those in non-finance sectors. Using detailed proprietary data on individual job separations and income, we document that finance employees involuntarily separated for misconduct...