Research
Working Papers
Climate Risk and Contract Design: Evidence from Corporate Real Estate Leases
Presentations: MIT Climate and Real Estate Symposium 2024, FIRS PhD Session 2024, Penn State 2023, Hitotsubashi 2023
Climate risk encompasses newly recognized bad states of the world that affect future asset values. When contracting parties increasingly anticipate this risk, do financial contract designs become more complete by specifying more future climate contingencies?
A Note on Identification of the Difference-in-discontinuities Design
[SSRN] (Under Review)
Presentations: Econometric Society Asian Meeting 2024, IAAE 2024, Penn State 2024
The difference-in-discontinuities design is a hybrid approach that combines DID and RD. Although the literature states this design identifies ATE at the discontinuity, it actually identifies ATT at the discontinuity (very local!)
Work in Progress
Measuring Expectations in Commercial Real Estate Markets from Long-Term Lease Contracts (with Jiro Yoshida)
Presentations: Real Estate Finance and Investment Symposium 2025 (Scheduled)