Curriculum Vitae

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Academic Appointments:

Assistant Professor, Department of Economics, University of Maryland, 2014-present


Ph.D., University of Pennsylvania, 2014

Research Interest:

International Finance, Quantitative Macroeconomics, Economic Growth

Working Papers:

  1. Fewer but Better: Sudden Stops, Firm Entry, and Financial Selection  (with Sina T. Ates, older draft: PIER Working Paper Archive 14-043, Resubmitted to AEJ: Macro)
  2. Corporate Taxes and Growth: The Impact of Financial Selection on Firm Entry  (with Sina T. Ates, older draft: PIER Working Paper Archive 13-011)
  3. Capital-Based Corporate Tax Benefits: Endogenous Misallocation through Lobbying (with Tanida Arayavechkit and Minchul Shin, Revision Requested by JEEA)
  4. The Transmission of Commodity Price Super-Cycles  (with Felipe Benguria and Sergio UrzuaNBER Working Paper No. 24560, Reject and Resubmit at ReStud)
  5. Political Connections and the Allocation of Government Spending in the U.S.: A Firm Level Analysis (with Joonkyu Choi and Veronika Penciakova)
  6. From Carry Trades to Trade Credit: Financial Intermediation by Non-Financial Corporations (with Bryan Hardy, BIS working paper 773, Submitted)
  7. Trade and Productivity Dynamics during Sudden Stops (with Hidehiko Matsumoto and Felipe Benguria draft available soon)
  8. Dissecting the Impact of the 2018-2019 Trade War on U.S. Exports (with Felipe Benguria )

Work in Progress:
  1. Exchange Rates and Endogenous Productivity (with Nils Gornemann and Pablo Guerron-Quintana)
  2. New Goods, Miss-measured Inflation, and Monetary Policy (with Nils Gornemann)
  3. The Micro and Macro Dynamics of Capital Inflows (with Liliana Varela and Kei-Mu Yi)
  4. International R&D Spillovers: from "Made in China" to "Invented in China" (withSalomé Baslandzeand Pengfei Han)
  5. Sudden Stops and Exchange Rate Fluctuations under Non-homothetic Preferences (with Eugenio Rojas)

  1. Credit, Misallocation and Productivity Growth (MezaPratapUrrutia) at IADB on May 2015
  2. Debt into Growth: How Sovereign Debt Accelerated the First Industrial Revolution (VenturaVoth) at NBER (IFM, DC meeting) on April 2016
  3. Investment and The Cross-Section of Equity Returns (ClementiPalazzo) at BFI Chicago on April 2016
  4. Firm Entry and Exit and Aggregate Growth (AsturiasHurKehoeRuhl) at ITAM-PIER 2016
  5. Financial Frictions and Firm Dynamics (BerginFengLin) at IMF- Bank Negara 2017
  6. Real Exchange Rates, Income per Capita, and Sectoral Input Shares (Cravino and Haltenhof) at Philly Fed International Trade Workshop 2017
  7. Back to Basics: Basic Research Spillovers, Innovation Policy and Growth (AkcigitHanleySerrano-Velarde) at AEA 2018
  8. Currency Depreciation and Emerging Market Corporate Distress (BrunoShin) at Washington Area International Finance Symposium 2018
  9. External Financing and Firm Productivity: Evidence from Chinese Privately-Owned Enterprises (Ebrahimy, Guo, HeZha) at 2nd IMF Annual Macro-Financial Research Conference 2019
  10. Capital Controls and Risk Misallocation: Evidence from a Natural Experiment (Keller) at NBER Summer Institute - IFM 2019
  11. The Global Financial resource Curse (BenignoFornaroWolf) at AEA 2020
  12. Foreign Reserve Management (AmadorBianchiBocolaPerri) at AEA 2020


2020: Scheduled: International Monetary Fund,  Banco Central de Chile, Society of Economic Dynamics.
2019: International Monetary Fund, Saint Louis Federal Reserve, Society of Economic Dynamics, Pontificia Universidad Católica de Chile, Centro de Economía Aplicada (U de Chile), Georgetown, Darden (UVA), Fed Board.
2018: International Monetary Fund, Society of Economic Dynamics, Dallas Federal Reserve (CEBRA), University of Illinois at Urbana Champaign, Boston College, Philadelphia Federal Reserve (Drexel-Fed), New York Federal Reserve, Temple, LACEA, Banco Central de Chile, Chicago Booth International Macro Finance Conference.
2017: WEAI, European Commission, University of Houston, University of Rochester, Banco Central de Chile, World Bank, Small Business Administration, Society of Economic Dynamics, Minneapolis FED, NBER SI (IFM), Chicago FED.
2016: John Hopkins University, Arizona State University, USC Marshall Business School, North American Econometric Society (Philadelphia), College de France, Society of Economic Dynamics,  IADB, University of Michigan, and SEA.
2015: Third International Macro-Finance Conference (Chicago Booth), Brown University, PIER-ITAM conference on Macroeconomics, NBER SI (IFM), Barcelona GSE Summer Forum, NBER Fall (EFJK), Pontificia Universidad Católica de Chile, Banco Central de Chile, Universidad de Chile.
2014: University of Maryland, University of Pittsburgh, Bowdoin College, University of Montreal, Fed Board, State University of New York at Stony Brook, Midwest Macroeconomic Meeting, North America Meeting of the Econometric Society, New York Area Macroeconomic Workshop.
2013: European Meeting of the Econometric Society, Midwest Macroeconomic Meeting, IAES, University of Pennsylvania.
2012: Pontificia Universidad Católica de Chile, Banco Central de Chile.


Journal of Political Economy, Quarterly Journal of Economics, Review of Economic Studies, American Economic Journal: Macro, Journal of the European Economic Association, Journal of International Economics, Journal of Monetary Economics, Proceedings of the National Academy of Science, Review of Economic Dynamics, International Economic Review, Review of International Economics, Journal of Human Capital, Scandinavian Journal of Economics, Quantitative Economics, Economic Journal, Journal of Economic Growth, Oxford Economic Papers, Inter-American Development Bank working papers, Fondecyt Chile.

Conference Committee:

LACEA (2018), Society of Economic Dynamics (2018-2020), Washington Area International Finance Symposium 2019 


University of Maryland: Graduate and Undergraduate International Finance, Graduate Computational Economics

University of Pennsylvania: Introductory Macroeconomics.

PUC Chile: Introduction to Economics (Undergrad), Epistemology of Economics (Undergrad), General Equilibrium (Master)


Main Advisor: 

2019Rodrigo Heresi (RES at IADB).

2018: Hidehiko Matsumoto (Bank of Japan).

Committee Member:

2019: Xing Hong (Dimensional Fund Advisors), Veronica Penciakova (Atlanta Fed), Can Sever (IMF).

2018: Joonkyu Choi (Fed Board), Bryan Hardy (BIS)

2017: John Jairo Leon Castillo  (IADB), Wei Li (Beihang University), Jongho Park (Korean Development Institute), Yang Xu (Xiamen University)Youngjin Yun (Bank of Korea).

2016: Pablo Cuba-Borda (Fed Board), Dun Jia (Renmin University), David Moreno (Central Bank of Chile), Filippos Petroulakis (European Central Bank)Lixin Tang (Shanghai University), Ling Zhu (IMF).


Spanish (native), English (fluent), French (fluent).