Senior Economist and Policy Advisor
Federal Reserve Bank of Dallas

Education

• Ph.D., Economics, University of Minnesota, 2000
• M.B.A., Finance, Case Western Reserve University, 1993

Publications in Refereed Journals

• "Contract Enforcement and the Size of the Informal Sector," Economic Theory (forthcoming).
   
• "Limited Enforcement and the Organization of Production," Journal of Macroeconomics (forthcoming).
   
• "Factor Utilization and the Real Impact of Financial Crises," with Felipe Meza, Advances in Macroeconomics, Berkeley Journals, 7(1), 2007, Article 33. (computational appendix )
   
• "Why Do Financial Systems Differ? History Matters," with Cyril Monnet, Journal of Monetary Economics 54 (4), May 2007, 1002-17.
   
• "A Competitive Model of the Informal Sector," with Pedro Amaral, Journal of Monetary Economics 53 (7), October 2006, 1541–53.
   
• "Are Labor Markets Segmented in Developing Countries? A Semiparametric Approach," with Sangeeta Pratap, European Economic Review , 50(7), October 2006, 1817–41. (Additional robustness results )
   
• "Optimal Contracts in a Dynamic Costly State Verification Model," with Cyril Monnet, Economic Theory, 26 (4), November 2005, 867-85.
   
• "Growing Old Together: Firm Survival and Employee Turnover," with John J. Stevens, Topics in Macroeconomic, 5 (1), 2005, Article 21.

Book Chapters

• "The Informal Sector in Developing Countries: Output, Assets and Employment," with Sangeeta Pratap, in James B. Davies, editor, Personal Wealth from a Global Perspective, Oxford University Press, 2008 (forthcoming.)

Working Papers

• "To ARM or not to ARM: Contract Choice as a Signal," with Dean Corbae, unpublished manuscript, 2007.
   
• "The Poor, the Rich and the Enforcer: Institutional Choice and Growth," with Thorsten Koeppl and Cyril Monnet, Federal Reserve Bank of Dallas Working Paper 0801.
   
• "Raising the Bar for Models of Turnover," with John J. Stevens, Federal Reserve Board, unpublished manuscript, 2005.
   
• "Financial Intermediation and Economic Development: A Quantitative Assessment," with Pedro Amaral, Southern Methodist University, 2004.

Experience

Other Working Experience

Visitor, Summer 2004, Research Department, European Central Bank. Visitor, Fall 2003, Economics Department, University of Texas at Austin.

Dallas Fed Publications

• "Inequality and Growth: Challenges to the Old Orthodoxy," with Jason L. Saving, Economic Letter, Vol. 3, No. 1, January 2008.
   
• "On The Record: The Mexican Economy at a Crossroads," with William C. Gruben, Southwest Economy, January/February 2007.
   
• "Mexico’s Financial Vulnerability: Then and Now," with José Joaquín López, Economic Letter, Vol. 1, No. 6, June 2006.
   
• "Financial Crises: Still a Mystery," with Felipe Meza, Southwest Economy, Issue 5, September/October 2005.
   
• "Mexico’s Export Woes Not All China-Induced," Southwest Economy, November/December 2004.
   
• "The Real Impact of Financial Crises," with Elias Brandt and Scott Dressler, Economic and Financial Policy Review, Vol. 3, No. 1, 2004.
   
• "The Giant in Mexico's Rearview Mirror," Southwest Economy, March/April 2003.
   
• "Is Mexico Ready to Roar?" Southwest Economy, September/October 2002.
   
• "The Politics of Brazil's Financial Troubles," with William C. Gruben, Southwest Economy, September/October 2002.
   
• "Raising Taxes in Mexico," Southwest Economy, January/February 2001.
   
• "Why Is French Unemployment So High?" Southwest Economy, September/ October 2001.