Working papers and work in progress

  1. The Distributional Impacts of Real-Time Pricing, with Michael Cahana, Natalia Fabra and Jingyuan Wang, submitted.
  2. Measuring the Impact of Wind Power and Intermittency, with Claire Petersen and Lola Segura, revise and resubmit at Energy Economics.
  3. Measuring the Impact of Time-of-Use Pricing on Electricity Consumption: Evidence from Spain, with Jacint Enrich, Ruoyi Li, and Alejandro Mizrahi, revise and resubmit at the Journal of Environmental Economics and Management.
  4. “The benefits and costs of information: Evidence from the New Zealand wholesale electricity market,” with Estelle Cantillon and Stefan Bergheimer.
  5. “Bounding Outcomes in Counterfactual Analysis,” with Francisco Pareschi
  6. “Energy Transitions in Regulated Markets,” with Gautam Gowrisankaran and Ashley Langer.


  1. The Investment Effects of Market Integration: Evidence from Renewable Energy Expansion in Chile, with Luis Gonzales and Koichiro Ito, Econometrica, 91(5): 1659-1693, 2023.
  2. Price and Quantity Discovery without Commitment, with Estelle Cantillon and Stefan Bergheimer, International Journal of Industrial Organization, Vol. 90, 2023.
  3. Smart Meters and Retail Competition: Trends and Challenges, with Jacint Enrich, Ruoyi Li, and Alejandro Mizrahi, AER Papers & Proceedings, 112: 461–465, 2022.
  4. Energy and Environmental Markets, Industrial Organization, and Regulation, with Ryan Kellogg, Handbook of Industrial Organization, 5 (1), 615-742.
  5. Comment on: “Climate Change Uncertainty Spillover in the Macroeconomy”, for the 36th NBER Annual Conference on Macroeconomics, 2021.
  6. Mitigating Emissions Leakage in Incomplete Carbon Markets, with Meredith Fowlie, Journal of the Association of Environmental and Resource Economics, 2022, 9: 2, 307-343. Online Appendix
  7. Border Carbon Adjustments When Carbon Intensity Varies Across Producers: Evidence from California, with Meredith Fowlie and Claire Petersen, AER Papers & Proceedings, 2021, 111: 401-405. Online Appendix
  8. Estimating the Elasticity to Real Time Pricing: Evidence from the Spanish Electricity Market, with Natalia Fabra, Dave Rapson and Jingyuan Wang, AER Papers & Proceedings, 2021, 111: 425-429.
  9. A Model of Search with Price Discrimination, with Natalia Fabra, 2020, vol. 129(C), European Economic Review.
  10. Machine Learning from Schools about Energy Efficiency, with Fiona Burlig, Chris Knittel, Dave Rapson and Catherine Wolfram, Journal of the Association of Environmental and Resource Economics, 2020, 7: 6, 1181-1217. Online Appendix
  11. The Short-run and Long-run Effects of Covid-19 on Energy and the Environment, with Kenneth T. Gillingham, Christopher R. Knittel, Jing Li, and Marten Ovaere. Joule, 4: 1-5, 2020. Paper with complementary material
  12. The Efficiency and Sectoral Distributional Implications of Large-Scale Renewable Policies, Journal of the Association of Environmental and Resource Economics, 2019, 6:S1, S129-S168. Online appendix
  13. Challenges in the Measurement of Leakage Risk, with Meredith Fowlie, American Economic Review Papers & Proceedings, 2018, 108: 124-29.
  14. Sequential Markets, Market Power and Arbitrage, with Koichiro Ito, American Economic Review, 2016, 106(7):1921-1957. .pdf. Data and code .zip
  15. Market-Based Emissions Regulation and Industry Dynamics, with Meredith Fowlie and Stephen P. Ryan. Journal of Political Economy, 2016, 124(1): 249-302. Online appendix. Data and code
  16. Complementary Bidding Mechanisms and Startup Costs in Electricity Markets. Review of Economic Studies, 2014, 81(4): 1708-1742. Online appendix. Data and code (.zip)
  17. Pass-Through of Emissions Costs in Electricity Markets, with Natalia Fabra. American Economic Review, 2014, 104(9): 2872-2899. Data and code (.zip)

Policy work and others

  1. Climate change: time to act, with Christian Gollier, as part of the report “The major future economic challenges,” by Olivier Blanchard and Jean Tirole, 2021.
  2. Low oil prices during COVID-19 and the case for removing fuel subsidies, with Joevas Asare, and Moussa Saab and Camila Saccheto. Policy brief, International Growth Center, 2020.
  3. Measuring Leakage Risk, with Meredith Fowlie and Stephen P. Ryan. Report for the California Air Resources Board, 2016.
  4. Competencia en el Mercado Electrico Chileno, with Natalia Fabra and J.P. Montero. Report for the Fiscalia Nacional Economica de Chile (in Spanish), 2014.
  5. Grandfathering and the Endowment Effect: An Assessment in the Context of the Spanish National Allocation, with A. Denny Ellerman, CEEPR WP-2008-018.

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