José Tessada's homepage

Welcome to my webpage. I am an associate professor at the Business School of the Pontificia Universidad Católica de Chile. Here you can find information about my research and teaching.

Escuela de Administración (Business School)
Pontificia Universidad Católica de Chile
Phone: (56-2) 2354-4002
Email: jtessada [at] gmail [dot] com

Curriculum Vita


Published and forthcoming

  • "People and Machines: A Look at the Evolving Relationship Between Capital and Skill Manufacturing 1860-1930 Using Immigration Shocks," With Jeanne Lafortune and Ethan Lewis, Review of Economics and Statistics, 101(1), pp. 30-43, March 2019. Online (link).

  • "Are Micro Firms Constrained by their Lack of Knowledge or Motivation? Lessons from a Randomized Experiment in Chile." Joint with Jeanne Lafortune and Julio Riutort, American Economic Journal: Applied Economics, 10(4), pp. 222-245, October 2018. Online (link).

  • "Destabilizing Financial Advice: Evidence from Pension Fund Reallocations." Joint with Zhi Da, Borja Larrain and Clemens Sialm. Forthcoming, Review of Financial Studies, 31(10), pp. 3720–3755, October 2018. Latest version (pdf).

  • "Asset Fire Sales in Equity Markets: A Quasi-Natural Experiment in an Emerging Market." Joint with Borja Larraín and Daniel Muñoz. Journal of Financial Intermediation, 30, pp. 71-85, April 2017. Online (link) and pre-print version (pdf).

  • "More Hands, More Power? The Impact of Immigration on Farming and Technology Choices in US Agriculture in Early 20th Century." Joint with Carolina Gonzalez and Jeanne Lafortune. Journal of International Economics, 97(2), pp. 339-358, November 2015. Online (link) and pre-print version (pdf).

  • "Who Comes and Why? Determinants of Immigrants’Skill Levels in Early XX Century United States." Joint with Matías Covarrubias and Jeanne Lafortune. Journal of Demographic Economics, 81(1), pp. 115-155, March 2015. Online (link) and pre-print version (pdf).

  • "Sudden Stops and Reallocation: Evidence from Labor Market Flows in Latin America." Joint with Francisco Gallego. Journal of Development Economics, 97(2), pp. 257-268, March 2012. Version: April 2011 (pdf). Working paper #378, Economics Department, Universidad Católica de Chile (pdf).

  • "Low-Skilled Immigration and the Labor Supply of Highly Skilled Women." Joint with Patricia Cortés. American Economic Journal: Applied Economics, 3(3), pp. 88-123, July 2011. Preprint version (pdf) and online appendix (pdf). Earlier version with results using a classification by educational attainment is available upon request.

  • "Monetary Policy in Latin America: Underpinnings and Procedures," Cuadernos de Economía, 36(109), pp. 897-927, December 1999. Joint with Vittorio Corbo and Andrés Elberg. (Published version)

Working Papers

  • “Personalizing or Reminding? How to better incentivize savings amongst the poor,” February 2021. With Viviane Azevedo, Jeanne Lafortune and Liliana Olarte. Submitted.

  • “The Benefits of Diversity: Peer Effects in an Adult Training Program in Chile,” February 2021. With Jeanne Lafortune and Marcela Perticará. Under revision.

  • “The Impact of Personalized versus General Information about Pensions on Retirement Savings and Employment”, May 2020. With Olga Fuentes, Jeanne Lafortune, Julio Riutort, and Félix Villatoro. Revise and resubmit.

  • “Electrifying? Measuring the Impact of the Arrival of Electricity on Productivity in the U.S. Manufacturing Sector 1900-1940,” February 2021. With Martin Fizsbein, Jeanne Lafortune and Ethan Lewis.

  • “Is Workplace Safety Everybody’s Business? Experimental Evidence on Prevention Information, Accidents and Compensating Wage Differentials in SMEs,” August 2020. With Francisco Brahm and Jeanne Lafortune. Submitted.

  • “Men, Women and Capital: Estimating Substitution Patterns Using a Size and Gender Dependent Childcare Policy in Chile,” April 2020. With Diego Escobar and Jeanne Lafortune. Submitted.

  • “What is the price of flexibility? Estimating women’s willingness to pay for job flexibility,” April 2020. With Monserrat Bustelo, Ana María Diaz, Jeanne Lafortune and Claudia Piras. Submitted.

  • “Smooth(er) Landing? The Role of Networks in the Location and Occupational Choice of Immigrants,” January 2020. With Jeanne Lafortune.

  • “The distortionary effect of size- and factor-dependent policies,” January 2020. With Diego Escobar, Jeanne Lafortune and Loris Rubini.

  • “Does formal credit lead to more financial inclusion or distress? Results using a strict scoring rule amongst low-income in Paraguay,” November 2019. With Viviane Azevedo, Jeanne Lafortune and Liliana Olarte.

  • “Educating a melting pot Estimating the impact of historical immigration on US educational system,” November 2018. With Andrés Gazmuri and Jeanne Lafortune.

Work in Progress

  • “Technological Changes in the Second Industrial Revolution: Effects on Returns to Scale of Manufacturing Industries 1860-1930,” with Jeanne Lafortune, Ethan Lewis and José Pablo Martinez.

  • "Changing youth entrepreneurship knowledge and mind set through an online challenge in Rwanda," with Jeanne Lafortune, Todd Pugatch and Diego Ubfal.

Book Chapters

  • "Contribución Fiscal Neta de la Immigración en Chile," in Migración en Chile: Evidencia y Mitos de una Nueva Realidad, Nicolás Rojas and José T. Vicuña, eds., September 2019. With Bastién Maire.

  • "Inmigración de Alta Calificación en Chile: Una Propuesta para Mejorar su Integración al Mercado Laboral" in Proposals for Chile 2014, Centro de Políticas Públicas, Pontificia Universidad Católica de Chile, 2015. Joint with Claudia Silva and Rosario Palacios. (Published version)

  • "Response to External and Inflation Shocks in a Small Open Economy" in General Equilibrium Models for the Chilean Economy, R. Chumacero and K. Schmidt-Hebbel, eds. Santiago: Central Bank of Chile, 2005. Joint with Vittorio Corbo. (Published version)

  • "Growth and Adjustment in Chile: A Look at the 90's" in Economic Growth: Sources, Trends and Cycles, N. Loayza and R. Soto, eds. Santiago: Central Bank of Chile, 2004. Joint with Vittorio Corbo. (Published version)

Other publications

  • “Diagnóstico y propuestas para la reactivación del mercado laboral en Chile,” with Fernando Coloma, Francisco Gallego, Ignacio Irarrázaval, Alexandre Janiak, Jeanne Lafortune, Claudia Martínez, Paula Pedró, Tomás Rau and Edoardo Trimarchi. Temas de la Agenda Pública, 15(127), 1-14. Centro de Políticas Públicas UC, August 2020.

  • “Reapertura del mercado laboral y Covid-19 en Chile: Ocupaciones más expuestas y costos asociados a la prevención en los lugares de trabajo,” with Francisco Gallego, Ignacio Irarrázaval, Martín Coloma, Sandra Cortés, Humberto Jiménez, Angeles Morandé, Nicolás Muñoz and Hugo Silva. Temas de la Agenda Pública, 15(126), 1-33. Centro de Políticas Públicas UC, July 2020.

  • “Using Big Data to Expand Financial Services: Benefits and Risks,” with Facundo Abraham and Sergio Schmukler, Research and Policy Brief 26, World Bank Chile Center and Malaysia Hub, November 2019.

  • "Financial Innovation and Additionality: The Power of Economic Analysis and Data Analytics," with Facundo Abraham and Sergio Schmukler, Research and Policy Brief 23, World Bank Chile Center and Malaysia Hub, June 2019.

  • "Robo-Advisors: Investing Through Machines," with Facundo Abraham and Sergio Schmukler, Research and Policy Brief 21, World Bank Chile Center and Malaysia Hub, February 2019.

  • "Migración, Productividad y Economía: Una Mirada a la Inmigración y la Economía Chilena," with Jeanne Lafortune, December 2018, prepared for the Comisión Nacional de Productividad (in Spanish.)

  • Migrantes Latinoamericanos en Chile: Un Panorama de su Integración Social, Económica y Financiera, monograph, Interamerican Development Bank (IADB, Banco Interamericano de Desarrollo), December 2016. With Jeanne Lafortune (in Spanish).


Email me if you want access to teaching materials (including older ones).

Mathematical Methods for Business and Economics (undergraduate)

Dirección Financiera II EAM322 (Investments - MBA)

Finanzas Internacionales (International Financial Management - MBA)

Finanzas I EAA220B (Investments - undergraduate)

Estudio Empíricos en Finanzas EAA-3230 (Empirical Methods in Finance)

Updated: February 11, 2021