Disruptions in family life can take many forms, but all have the potential to impact student learning. With school administrative data matched to birth records, I estimate the effect of unexpected changes in the home environment, or family shocks, on achievement. Identification comes from...

A general equilibrium model featuring multiple realistic sources of financial frictions is developed to study how different constraints interact in equilibrium. We highlight, distinguish, and evaluate their differential impacts and rich interactions. The economic impact of financial inclusion...

We develop a continuous-time industry equilibrium model of monopolistic competition to understand how product markups are determined in the presence of external financing costs and customer capital. Firms optimally set markups to balance the tradeoff between profiting from their existing...