Celebrating the Yale Economics PhD Class of 2025

Francesco's research interests are in Finance and Macroeconomics, with a focus on financial intermediation, firm financing, and monetary policy. Francesco's job market paper, titled “Banking Relationships and Loan Pricing Disconnect,” studies how long-term bank-firm relationships act as an insurance mechanism, weakening the pass-through of firm default risk to loan pricing. The paper highlights the implications of this disconnect for firm credit access, capital allocation, and the transmission of monetary policy. In the Summer of 2025, Francesco will join the Fuqua School of Business at Duke University as an Assistant Professor.

Carlo is a microeconomic theorist with primary research interests in bargaining, information economics, contract theory, and political economy. His current work explores the impact of protests on redistributive negotiations. In his job market paper titled “Redistributive Bargaining under the Shadow of Protests” (co-authored with Ferdinand Pieroth), he demonstrates that agreement delay is not only possible in these contexts, but can be strategically employed by the bargainers to extract a larger amount of resources from third parties—without triggering any protests.

After spending a year at Princeton University as a postdoctoral fellow in political economy in the Department of Politics, Carlo will join the University of Georgia as an Assistant Professor of Economics in August 2026.

Daniel’s research primarily focuses on investor attention, beliefs, and information, with an emphasis on using methodologies from Industrial Organization and Econometrics to study topics in Asset Pricing, Behavioral Finance, and Household Finance. His job market paper develops a novel methodology for estimating demand from censored investor holdings data, then uses the methodology to study the “hidden beliefs” of investors who elect not to own a stock. Daniel will join the Economics Department at Harvard University as an Assistant Professor in the fall.

Tim's primary field of research is development economics. His current research focuses on the interaction between migration, risk-sharing networks, and religion. Tim's job market paper, “Migration, Networks, and Religious Choice,” considers the role of migration in shaping patterns of religious choice in Ghana. He finds that Pentecostal churches, as effective facilitators of economic and social networks, benefit from patterns of rural-urban migration. In addition to his research, Tim is passionate about teaching and mentoring, and in the 2025-2026 academic year, he will join the Department of Economics at the University of Chicago as an Assistant Instructional Professor.

Jack's research is broadly focused on international trade and spatial economics. He currently uses adminstrative microdata to study how firm decisions can impact both aggregate welfare and growth, as well as drive differences across regions within the US. Jack's job market paper, “Knowledge and Firm Growth in Space,” seeks to understand how firm investment in non-rival and replicable knowledge capital can facilitate firm growth across regions within the US. After graduation, Jack will join the Temple University Department of Economics as an Assistant Professor.

Ferdinand is a microeconomic theorist whose research interests span Information Economics, Bargaining, and Contract Theory. His current work examines the role of information acquisition and other frictions in bargaining and contracting settings. Ferdinand's job market paper, titled “Due Diligence in Common Value Auctions,” studies when the seller of a good would benefit from granting the buyers access to information about the good's quality in the form of due diligence: after rather than before they submit their bids. This summer, Ferdinand will join the University of Miami as an Assistant Professor in the Economics Department.

Matthew studies economic growth and macroeconomic development. He focuses on structural transformation: changes in the composition of economic activity as economies grow. His job market paper studies how labor market frictions and income-dependent demand combine to create an ecosystem of service micro-entrepreneurs in developing countries. In fall of 2025, he will join the University of Michigan as an assistant professor.

Sam's research interests are in Labor Economics. His current research focuses on the drivers of educational and occupational choice, and how they relate to both social mobility and efficiency. Sam's job market paper examines the underlying drivers and aggregate implications of occupational following—when children enter into their parent’s occupation—for the labor market, social mobility, and total output. Sam will join Temple University as an Assistant Professor in the Department of Economics this fall.

Lindsey’s research interests lie in Macroeconomics and Labor Economics. Her current work focuses on the interaction of technological change, female employment, and intra-household decision-making. Lindsey’s job market paper, titled “The Quiet Revolution and the Decline of Routine Jobs,” quantifies the role of female labor supply in explaining the decline of routine jobs. In the summer of 2025, Lindsey will join the Research Department at the Federal Reserve Bank of San Francisco.

Stephan’s research interests lie in microeconomic theory and game theory, with a current focus on how artificial intelligence shapes strategic interactions. His job market paper, “AI in Action: Algorithmic Learning with Strategic Consumers,” examines the performance of reinforcement learning algorithms used by firms in their interaction with consumers, showing how and why opaque algorithms can outperform transparent ones. Stephan will spend the next academic year as a postdoctoral researcher at University College London before joining the Institute of Economics at the Pontificia Universidad Católica de Chile as an Assistant Professor in 2026.

Burkett Evans

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Samuel Slocum

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