Working Papers

Equal Prices, Unequal Access: The Effects of National Pricing in the US Life Insurance Industry

SSRN | Slides 

Using a structural model of multi-region life insurers, I find that national pricing regulation distorts the allocation of life insurance services across geographic regions, exacerbating spatial inequality for low-income households.

Presentations: Princeton University - Federal Reserve Bank of Richmond Brown Bag - University of Kentucky (Gatton) - Duke University (Fuqua) - Indiana University (Kelley) - NBER Insurance Working Group Meeting - AFA Annual Meeting (01/2025)

Banks in Space

with Ezra Oberfield, Esteban Rossi-Hansberg, and Nicholas Trachter


Bank branch networks feature spatial sorting driven by span of control concerns, balance sheet mismatch, and geographic distance. We build a model of multi-branch banks that captures these characteristics and verify the predictions of the model using the geographic deregulation of the US banking industry as a laboratory.

Presentations: Federal Reserve Bank of Richmond* - Federal Reserve Bank of Chicago* - University of Michigan* - New York University* - University of Chicago* - Yale University* - Northwestern University (Kellogg)* - Harvard University (HBS)* - Society for Economic Dynamics Annual Meeting* (06/2024) - NBER Summer Institute, International Trade & Investment Workshop* (07/2024) - Minnesota Macro Conference* (07/2024) - NFA Annual Meeting (09/2024)

*: co-author presentation

Works in Progress