Research Agenda

The main objective of my research is to uncover the mechanisms and consequences of financial misconduct, drawing insights and experience from my work at Facebook where I studied the patterns and impacts of bad actors. Presently, my dissertation and Job-Market Paper (JMP) titled "The Economics of Effective Punishment", a solo endeavor is aimed at assessing the effectiveness of penalties imposed to curb financial fraud. Alongside, I have also collaborated with my advisor on a project that explores "The Effect of Local Stock Market Participation on Local Housing Prices", a study that sheds light on the nuances of market dynamics and their influence on property values.

My JMP probes the effectiveness of the punitive measures that have been enforced by the federal government since 2000. Despite the hefty investments in sanctions and fraud prevention, the recurring offenses by a majority of firms pose serious questions about the effectiveness of these punitive actions. The study aims to dissect the impacts of these sanctions, emphasizing their significant influence on aspects such as retribution and rehabilitation, and how they are influenced by various external factors including firm reputation and governance structures.

My research also touches on real estate, my co-authored research focuses on local stock market participation and its impact on housing prices offers a fresh perspective on the financial market dynamics. Leveraging geographical data, our study establishes a negative relationship between stock market returns and local housing prices, particularly in areas with higher market participation. After a positive equity market return, these areas tend to witness an increase in cash-only home purchases, which are generally discounted compared to mortgage-financed transactions, thereby reducing the average local home prices.

I plan to undertake a detailed analysis of the repercussions of technological innovations on the increasing instances of banking and consumer fraud. The goal is to uncover underlying patterns and trends, offering actionable insights that can potentially lead to the development of safer financial ecosystems for both firms and consumers.