David Kohn

Head of Big Data Analytics Department

Monetary Policy Division, Central Bank of Chile

Associate Professor of Economics

Instituto de Economía, Pontificia Universidad Católica de Chile

Co-Editor of the Economia LACEA Journal

Ph.D. in Economics, New York University

Contact:

Central Bank of Chile

Agustinas 1180, Santiago, Chile

Research interests: Macro-finance, international macroeconomics, and international trade.

Publications

International Trade Finance and Learning Dynamics [published, pdf, appendix], joint with Emiliano Luttini, Michal Szkup and Shengxing Zhang, Journal of International Economics, v. 162, August 2026, 104286.

No Credit, No Gain: Trade Liberalization Dynamics, Production Inputs, and Financial Development [published, pdf, appendix, files for replication], joint with Fernando Leibovici and Michal Szkup, International Economic Review, v. 64, n. 2, pp. 809--836, 2023.

Premio Academia Nacional de Ciencias Economicas Dr. Julio H. G. Olivera, Argentina 2022 [pdf]

Financial Frictions and International Trade: A Review [published, pdf, slides], joint with Fernando Leibovici and Michal Szkup, Oxford Research Encyclopedia of Economics and Finance, May 2022.

Trade in Commodities and Business Cycle Volatility [published, pdf, appendix, files for replication, article], joint with Fernando Leibovici and Håkon Tretvoll, American Economic Journal: Macroeconomics, v. 13, n. 3, July 2021.

Financial Frictions and Export Dynamics in Large Devaluations [published, pdf, appendix, files for replication, webinar, article], joint with Fernando Leibovici and Michal Szkup, Journal of International Economics, v. 122, January 2020, 103257.

Financial Frictions and New Exporter Dynamics [published, pdf, appendix, files for replication, article], joint with Fernando Leibovici and Michal Szkup, International Economic Review, v. 57, n. 2, pp. 453--486, 2016.

International Capital Flows and House Prices: Theory and Evidence [pdf, files for replication], joint with Jack Favilukis, Sydney Ludvigson, and Stijn Van Nieuwerburgh, Housing and the Financial Crisis, NBER Cambridge, MA. Chapter 8, 2013.

Working Papers & Work in Progress

Addicted to Debt: Foreign Purchases of U.S. Treasuries and the Term Premium [pdf]
Sovereign Risk, Firm Financing and International Trade, joint with E. Andreasen, F. Roldán and G. Sandleris.
Anatomy of the Investment Network in a Commodity-Dependent Economy, joint with R. Gillmore, R. Heresi, D. Quevedo and N. Rivera [pdf].
Minimum Wage and Firm Outcomes, joint with E. Albagli, S. Bauducco, R. Gillmore and J. Guerra.
External Shocks and Trade Openness: The Role of Import Composition, joint with F. Leibovici and M. Szkup.
Import Supply Shocks and Trade Intermediaries, joint with S. Bauducco, N. Li, W. Lu and F. Moreau.
Supply Chain Risks and International Trade Dynamics, joint with E. Luttini, M. Szkup and S. Zhang.
Firm-Level Automation Risk: Determinants and Response to Shocks, joint with E. Albagli, L. F. Céspedes, R. Gillmore and D. Quevedo.
Ownership and Control Networks in Chile, joint with F. Avilés and P. Toro.
Consumer Credit and Consumption Smoothing after Unemployment Shocks, joint with S. Andalaft, E. Cerletti, M. Gutiérrez and R. Heresi.
The Trade Credit Channel of Monetary Policy, joint with R. Elejalde, G. Ordoñez and P. Toro.
International Equilibrium Portfolios and Capital Flows, joint with A. Boitier and E. Espino.
Terms of Trade Volatility, Business Cycles and Default Risk in Emerging Economies, joint with R. Torrealba and A. Vicondoa.