Climate Impacts and Environmental Externalities

1. Social Responsibility and Competition with Rachael Goodhue. We find empirical evidence many firms can take costly actions to behave in a socially responsible way despite atomistic competition. These findings are contrary to the standard model, but consistent with recent theoretical advancements. Working Paper.

2. Predicting the Impact of Genetic Engineering on the Distribution of Chinese Maize Yields with Yuansen Li*. We use synthetic control methods to construct counterfactual distributions of province-level maize yields. We find earlier adoption of GE-technology would have shifted the entire distribution of crop yields upwards for the ten leading maize-producing provinces in China.

3. Warmer Temperatures provide Little Benefit in Offsetting Cold Stress for Canadian Crop Yields with Alan Ker. We introduce sinusoial measures of degree-day analogs for cold temperature exposure and find the benefits of warmer temperatures for a colder growing region are more than offset by the additional damages from more extreme heat.

4. Wildfire Impacts on the Service Industry with Ahmad Wahdat, Joe Balagtas, and Valerie Kilders. We estimate the impacts of poor air-quality on restaurant expenditures in New York City during the 2023 Canadian wildfires.

5. Weather and Climate Impacts on Pistachio Production with B. Goodrich & Y. Li.* We examine the short-term impacts of weather shocks on pistachio yields.

6. Constructing Counterfactuals for Perennial Crop Supply Responses with B. Goodrich. We introduce a new econometric approach to account for the dynamic, age-dependent responses to weather shocks of perennial crops.

Econometrics and Asset Bubbles

7. Cantelli's Inequality with Sample Mean and Variance. I derive a nonparametric Cantelli inequality for finite samples under weak exchangability, with implications for difference-in-difference estimators.

8. Bubbles in the Field. I find direct, model-free evidence of an asset bubble, which is identified under much weaker assumptions than in previous tests, in the market for superstar Bordeaux wines. Working Paper.

9. Revisiting the Farmland-Valuation Puzzle. Using two complementary empirical approaches, I find indirect evidence of a large, robust bubble in Midwestern farmland valuations. Working Paper.

10. A Bubble in the Fields? I find direct, model-free evidence of an asset bubble in Midwestern farmland values, identified without a structural valuation model using cross-sectional variation in urban pressure. [Working paper available soon].