Economics
A life cycle model of consumption and labor supply describes employment decisions of a collection of individuals during their lifetime. We develop a life cycle model describing a heterogeneous population operating in Finland under a wide…
This paper develops a method to conduct causal inference in the presence of unobserved confounders by leveraging networks with homophily, a frequently observed tendency to form edges with similar nodes. I introduce a concept of asymptotic…
This paper establishes the existence of equilibrium in an economy with production and a continuum of consumers, each of whose incomplete and price-dependent preferences are defined on commodities they may consider deleterious, bads which…
Integrated Assessment Models (IAMs) are pivotal tools that synthesize knowledge from climate science, economics, and policy to evaluate the interactions between human activities and the climate system. They serve as essential instruments…
We extend the approximate residual balancing (ARB) framework to nonlinear models, answering an open problem posed by Athey et al. (2018). Our approach addresses the challenge of estimating average treatment effects in high-dimensional…
An agent observes a clue, and an analyst observes an inference: a ranking of events on the basis of how corroborated they are by the clue. We prove that if the inference satisfies the axioms of Villegas (1964) except for the classic…
This project began by constructing an index of economic insecurity using multiple socioeconomic indicators. Although poverty alone predicted SNAP participation more accurately than the composite index, its explanatory power was weaker than…
This paper develops a unified game-theoretic account of how generative AI reshapes the pre-doctoral "hope-labor" market linking Principal Investigators (PIs), Research Assistants (RAs), and PhD admissions. We integrate (i) a PI-RA…
We study optimal taxation when citizens hold beliefs about an honest versus opportunistic government and update those beliefs from observed taxes and delivery. In a Ramsey economy with competitive firms, the government privately knows its…
We study sequential social learning with continuous actions and conformity when agents can endogenously generate hard, publicly verifiable evidence. Actions transmit soft information whose visibility depends on responsiveness to private…
Accounting for climate-related risks is an emerging problem for life insurers around the world. In this paper, we demonstrate how scenario trajectories for global temperature can be obtained using the cost-benefit Dynamic Integrated…
This paper develops a new framework to analyze the incidence of labor market shocks, focusing on automation and artificial intelligence. Central to our theory is the distance-dependent elasticity of substitution (DIDES), where worker…
This paper introduces Type 2 Tobit Bayesian Additive Regression Trees (TOBART-2). BART can produce accurate individual-specific treatment effect estimates. However, in practice estimates are often biased by sample selection. We extend the…
In this note, we introduce a novel performance rating system called Performance Rating Equilibrium (PRE). A PRE is a vector of ratings for each player, such that if these ratings were each player's initial rating at the start of a…
We study nonlinear serial dependence tests for non-Gaussian time series and residuals of dynamic models based on portmanteau statistics involving nonlinear autocovariances. A new test with an asymptotic $\chi^2$ distribution is introduced…
Mainly through regression discontinuity designs, Khanna (2023a) studies the impacts of a primary schooling expansion in India in the 1990s. Absent from the data set are four districts close to the modeled treatment discontinuity.…
We propose the Subgame Credible Nash Equilibrium (SCNE), a refinement of subgame perfect Nash equilibrium (SPNE) for multi-stage games. SCNE retains the internal credibility requirement of SPNE -- equilibrium behavior in every subgame --…
This paper develops a novel method for policy choice in a dynamic setting where the available data is a multivariate time series. Overcoming challenges unique to time-series setting such as time-varying environments, history-dependent…
This paper proposes an estimator that relaxes the conventional relevance condition in instrumental variable (IV) analyses. The method allows endogenous covariates to be weakly correlated, uncorrelated, or even mean-independent -- though not…
Discrete-choice life cycle models of labor supply can be used to estimate how social security reforms influence employment rate. In a life cycle model, optimal employment choices during the life course of an individual must be solved.…