Job Market Paper

• The Heterogeneous Effect of Local Land-Use Restrictions Across US Households. _{Abstract: Using a structural approach, I quantify the effect of land-use regulations on different age and education groups. Building on the seminal work of Roback (1982) I estimate a dynamic spatial structural equilibrium model of household location choice, local housing supply and amenity supply. I show that in the long-run, removing land-use restrictions benefits all household groups and increases aggregate consumption by 7.1%. These consumption gains vary across households, less educated and younger households see increases in consumption about twice as large as more educated or older households. In contrast, in the short run, removing land-use regulations reduces the consumption of older-richer homeowners while increasing the consumption of younger renters. In a counterfactual 1990-2019 transition abolishing land-use regulations reduces the consumption of households born before the mid-1960s, while increasing consumption of more recent generations. Given the difficulty in reforming land-use regulations, I explore whether a shift to remote working or creating new urban areas leads to similar consumption gains compared with removing land-use restrictions. Qualitatively I find the gains are similar, but quantitatively are only about 20% as large as abolishing land-use regulations from existing urban areas.}

Publications

• Corporate Bond Liquidity during the COVID-19 Crisis.
  (with Mahyar Kargar, Benjamin Lester, Shuo Liu, Pierre-Olivier Weill, and Diego Zúñiga)
  Review of Financial Studies, 2021
  For a non-technical summary click here

Work in Progress

• Trading Relationships in the US Corporate Bond Market
  (with Diego Zúñiga)

Instructor

• Econ 106F: Finance (UCLA Summer 2019 and Summer 2020).

Teaching Assistant

• Econ 1: Introduction to Microeconomics (UCLA - Winter 2018)
• Econ 2: Introduction to Macroeconomics (UCLA - Winter 2020)
• Econ 101: Intermediate Microeconomics (UCLA - Fall 2018)
• Econ 102: Intermediate Macroeconomics (UCLA - Fall 2017, Spring 2018, Winter - Fall 2019, Winter 2021, Spring 2021)
• Econ 103: Econometrics (UCLA - Summer 2021)
• Econ 106F: Finance (UCLA - Fall 2020, Spring 2020)