• The Choice Channel of Financial Innovation 

      Nenov, Plamen; Iachan, Felipe S.; Simsek, Alp (Journal article; Peer reviewed, 2021)
      Financial innovation in recent decades has expanded portfolio choice. We investigate how greater choice affects investors' savings and asset returns. We establish a choice channel by which greater portfolio choice increases ...
    • Stock Market Wealth and the Real Economy: A Local Labor Market Approach 

      Chodorow-Reich, Gabriel; Nenov, Plamen; Simsek, Alp (Journal article; Peer reviewed, 2021)
      We provide evidence of the stock market consumption wealth effect by using a local labor market analysis. An increase in local stock wealth driven by aggregate stock prices increases local employment and payroll in nontradable ...