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publications
The Federal Reserve’s Dual Mandate and the Inflation-Unemployment Tradeoff
Published in Contemporary Economic Policy, 2019
Recommended citation: Kaya, Ayse, Stephen Golub, Mark Kuperberg, and Feng Lin. "The Federal Reserve’s Dual Mandate and the Inflation-Unemployment Tradeoff." Contemporary Economic Policy 37, no. 4 (2019): 641–51.
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Measuring the Labor Market at the Onset of the COVID-19 Crisis
Published in Brookings Papers on Economic Activity-Special Edition: COVID-19 and the Economy, 2020
Recommended citation: Bartik, Alexander W., Marianne Bertrand, Feng Lin, Jesse Rothstein, and Matthew Unrath. "Measuring the Labor Market at the Onset of the COVID-19 Crisis." Brookings Papers on Economic Activity, 2020, 239–68.
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Sorting, Displacement, and the Limited Welfare Benefits of Non-Local Firm
Abstract: How much do consumers in a city benefit from the presence of local-service firms originating in other cities? While establishments of non-local firms are typically larger and likely more productive than their local counterparts, their net welfare benefits can be more limited due to two reasons. First, consumption in these industries is highly localized, and non-local firms may appear larger partly because they sort into high-demand locations. Second, non-local firms displace local firms to locations with lower demand, reducing consumer access to the displaced firms. Motivated by these patterns, I develop a quantitative spatial model that features the sorting of firms to heterogeneous locations within a city, where they compete for a limited supply of commercial floor space. Calibrating the model to a selected set of U.S. commuting zones, I find that the presence of non-local firms increases local consumer welfare by less than 1% on average. This estimate is significantly smaller than the gains predicted by an alternative model that abstracts from the sorting and displacement of firms across locations. A decomposition of the welfare effects reveals that this modest impact is driven by a strong displacement channel.
Recommended citation: Lin, Feng. "Sorting, Displacement, and the Limited Welfare Benefits of Non-Local Firms." 2025.
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The Geography of Superstar Firms
Recommended citation: Hsieh, Chang-Tai, Feng Lin, and Enrico Moretti. "The Geography of Superstar Firms." 2025.
talks
Talk 1 on Relevant Topic in Your Field
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Conference Proceeding talk 3 on Relevant Topic in Your Field
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teaching
Topics in Macroeconomics (2021)
TA for Professor Nancy L. Stokey, University of Chicago, Undergraduate, Autumn 2021
Theory of Income II (2022)
TA for Professor Mikhail Golosov, University of Chicago, Graduate, Winter 2022
Theory of Income I (2022)
TA for Professor Nancy L. Stokey, University of Chicago, Graduate, Autumn 2022
The Economics of Cities and Regions (2024)
TA for Professor Esteban Rossi-Hansberg, University of Chicago, Undergraduate, Winter 2024
The Economics of Cities and Regions (2025)
TA for Professor Esteban Rossi-Hansberg, University of Chicago, Undergraduate, Winter 2025