Lindsay Relihan

Lindsay Relihan
  • Applied Economics Doctoral Student

Contact Information

  • office Address:

    3000 Steinberg Hall-Dietrich Hall
    3620 Locust Walk
    Philadelphia, PA 19104

Research Interests: Household Finance, Retail and Banking, Urban Economics

Links: CV

Overview

I am a Ph.D. candidate in applied economics. You can view my full C.V. here. I plan to attend the annual meetings of the American Economics Association in Philadelphia, PA and will be available for interviews each day.

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Research

Job Market Paper:

“Is Online Retail Killing Coffee Shops? Estimating the Winners and Losers of Online Retail using Customer Transaction Microdata”

Is online retail a complement or substitute to local offline economies? This paper studies how consumers in cities reorganize their shopping trips to grocery stores and coffee shops after they become online grocery shoppers. To do so, I use new, detailed data on the daily online and offline transactions of millions of anonymized customers. I find that high-use early adopters of online grocery platforms reduce their spending at grocery stores by 4.5 percent and increase their spending at coffee shops by 7.6 percent in the two years after take-up. The effect for coffee shops is driven by their shift from trips to grocery stores toward trips to coffee shops in their same zip code, particularly during weekdays. I present a discrete choice model to show that these results are consistent with trip-chaining and that the welfare gains disproportionately go to consumers for whom making trips to grocery stores is costly; consumers in zip codes with the lowest grocery density and highest average incomes experience welfare gains three and eight times as large, respectively, as consumers in the highest grocery density and lowest average income zip codes. These results show that complementarities created through behaviors like trip-chaining can create both winning and losing stores and consumers to online retail.

Other Working Papers:

“Branches in Local Mortgage Markets”

This paper studies the impact of branch presence on mortgage credit outcomes in the surrounding neighborhood using the density of nearby branch networks to instrument for actual branch presence. I find that lenders with branches lend more mortgages to borrowers in the surrounding neighborhood and that those operated by local lenders have the most positive impact for low socioeconomic-status borrowers. However, I show that branches disadvantage competing lenders by lowering the credit-quality of the competing lenders’ applicant pool. This adverse selection causes an aggregate negative effect of branch presence on neighborhood mortgage outcomes.

“Affordability, Financial Innovation, and the Start of the Housing Boom”                                                                                                                                                                                                        (with Jane K. Dokko and Benjamin J. Keys)

At their peak in 2005, more than 60 percent of all purchase loans originated in the United States contained at least one non-traditional feature. These features, which allowed borrowers easier access to credit through “teaser” interest rates, interest-only or negative amortization periods, and extended payment terms, have been the subject of much regulatory and popular criticism. In this paper, we construct a novel county-level dataset to analyze the relationship between rising house prices and non-traditional features of mortgage contracts. We apply a break-point methodology and find that, in many markets, rising use of non-traditional mortgages predates the start of the housing boom and continues to rise thereafter. Our results are most consistent with the view that, in many markets, loosening financing constraints contributed to the house price boom. Moreover, their continued use suggests that homebuyers turned to these products to afford increasingly more expensive homes.

 

  • Lindsay Relihan, Is Online Retail Killing Coffee Shops? Estimating the Winners and Losers of Online Retail using Customer Transaction Microdata.

    Abstract: Is online retail a complement or substitute to local offline economies? This paper studies how consumers in cities reorganize their shopping trips to grocery stores and coffee shops after they become online grocery shoppers. To do so, I use new, detailed data on the daily online and offline transactions of millions of anonymized customers. I find that high-use early adopters of online grocery platforms reduce their spending at grocery stores by 4.5 percent and increase their spending at coffee shops by 7.6 percent in the two years after take-up. The effect for coffee shops is driven by their shift from trips to grocery stores toward trips to coffee shops in their same zip code, particularly during weekdays. I present a discrete choice model to show that these results are consistent with trip-chaining and that the welfare gains disproportionately go to consumers for whom making trips to grocery stores is costly; consumers in zip codes with the lowest grocery density and highest average incomes experience welfare gains three and eight times as large, respectively, as consumers in the highest grocery density and lowest average income zip codes. These results show that complementarities created through behaviors like trip-chaining can create both winning and losing stores and consumers to online retail.

Teaching

Managerial Economics, Head Teaching Assistant, Spring 2017

Introduction to Business Economics and Public Policy, Teaching Assistant, Fall 2016

Housing Markets, Teaching Assistant for Joseph Gyourko, Spring 2015

Managerial Economics, Teaching Assistant, Spring 2015

Past Courses

  • BEPP250 - MANAGERIAL ECONOMICS

    This course will introduce you to "managerial economics" which is the application of microeconomic theory to managerial decision-making. Microeconomic theory is a remarkably useful body of ideas for understanding and analyzing the behavior of individuals and firms in a variety of economic settings. The goal of the course is for you to understand this body of theory well enough so that you can effectively analyze managerial (and other) problems in an economic framework. While this is a "tools" course, we will cover many real-world applications, particularly business applications, so that you can witness the usefulness of these tools and acquire the skills to use them yourself. We will depart from the usual microeconomic theory course by giving more emphasis to prescription: What should a manager do in order to achieve some objective? That course deliverable is to compared with description: Why do firms and consumers act the way they do? The latter will still be quite prominent in this course because only by understanding how other firms and customers behave can a manager determin what is best for him or her to do. Strategic interaction is explored both in product markets and auctions. Finally, the challenges created by asymmetric information - both in the market and within the firm - are investigated.

Awards and Honors

Activity

Latest Research

Lindsay Relihan, Is Online Retail Killing Coffee Shops? Estimating the Winners and Losers of Online Retail using Customer Transaction Microdata.
All Research