Hi,
I am applying for economics and finance phd programs. I have been working with a prestigious professor in finance (Ivy) for the past year. We are close to drafting a working paper (probably expect it in Dec.) in which he and I will be co-authors.
He is quite convinced that the paper is significant and believes it will be on a top general interest economics journal.
The problem is the paper concerns timing. Even if it becomes accepted and published in a good journal, it won't be done in time to have a major impact on my admissions.
I have concentrated much of my effort for the past year in this research and am wondering if I made the right choice solely focusing on this project.
For clarifications, I did take sufficient math courses and did a masters in statistics. Also he is writing a rec letter for me and sent out his recommendation letter and assessments while I was present.
Any feedback or opinion would be appreciated.