Fields of Interests: Macroeconomics, Monetary Economics, Expectations Formation in Macroeconomics.
Affiliation
Banco Central de Chile, Head of the Economic Research Department, October 2022 – Present
Education
Columbia University, Ph.D. in Economics, 2015.
Dissertation: “Essays on Information, Expectations, and the Aggregate Economy” (Chair: M. Uribe).
Pontificia Universidad Católica de Chile, M.A. in Economics (magna cum laude), 2007.
Pontificia Universidad Católica de Chile, B.A. in Economics (summa cum laude), 2007.
Pontificia Universidad Católica de Chile, B.A. in Business Administration (summa cum laude), 2006.
Past Work Experience
Senior Economist, Economic Modelling Department, Banco Central de Chile, 2015- Sep.2022.
Summer Internship, Federal Reserve Bank of New York, Summer 2015.
Research Assistant for Prof. Martín Uribe and Stephanie Schmitt-Grohé, Columbia University, 2012-2013.
Research Assistant for Prof. Emi Nakamura and Jón Steinsson, Columbia University, 2011-2012.
Direct Advisor to the Governor, José De Gregorio, Banco Central de Chile, 2008-2010.
Economic Analyst, Banco Central de Chile, 2008.
Professional Service
Academic Committee, 2019 Meeting of the Latin American and Caribbean Economic Association.
Publications
[3] "Evolución y Uso de Modelos Estructurales en el Banco Central de Chile," Ensayos Económicos, 78, 2021, Banco Central de la República Argentina. (with B. García).
[2] “Revisiting the Exchange Rate Pass Through: A General Equilibrium Perspective,” Journal of International Economics, 2020, 127, 103389, November. (with J. Garcia-Cicco).
[1] “Are Low Interest Rates Deflationary? A Paradox of Perfect-Foresight Analysis” American Economic Review, 2019, 109(1), pages 86-120, January. (with M. Woodford).
Working Papers
[2] “Is the Information Channel of Monetary Policy Alive in Emerging Markets,” DTBC 1017, Banco Central de Chile, 2024.
[1] “A TNT DSGE Model for Chile: Explaining the ERPT,” DTBC 868, Banco Central de Chile, 2020. (with J. García-Cicco).
Work in Progress
[2] “Expectations’ Shock and the Exchange Rate Pass Through: An International Assessment” (with J. García-Cicco)
[1] “Volatility of Sovereign Spreads with Asymmetric Information”
Teaching
Advanced Macroeconomics II (Ph.D. in Economics, TA), Columbia University, 2014.
Advanced Macroeconomics (Undergraduate, TA), Columbia University, 2013.
Economic Principles, Pontificia Universidad Católica de Chile, 2008-2010.
Grants, Awards and Honors
Fellowship, Columbia University, 2012-2015.
Scholarship, Banco Central de Chile, 2010-2012.
Wueller Teaching Award (runner-up) for best Teaching-Assistant, Columbia University, 2014.
Raul Ýver O. Award to the best student in Economics, Pontificia Universidad Católica, 2008.
Miguel Kast Award to the best student in Business Administration, Pontificia Universidad Católica, 2007.
Academic Excellence Award, Pontificia Universidad Católica (Chile), 2004-2005.
Professional activities
Refereeing: Journal of Political Economy, American Economic Review, Journal of International Economics, Journal of Economic Dynamics and Control, Serie Documentos de Trabajo (Banco Central de Chile), Journal of Money, Credit and Banking, Economics Letters, Estudios de Economía, European Economic Review.
Organization:
Workshop “V Economics Alumni Workshop”, Pontificia Universidad Católica de Chile, 2023.
Workshop “IV Economics Alumni Workshop”, Pontificia Universidad Católica de Chile, 2022.
Workshop “III Economics Alumni Workshop”, Pontificia Universidad Católica de Chile, 2021.
Seminars: LACEA (2024), Universidad de los Andes (2023), Banco Central de Chile (2015-2023), Universidad Torcuato Di Tella (2017*), Universidad San Andrés (2017*), Universidad Católica Argentina (2017*), Columbia University (2017*), Pontificia Universidad Católica de Chile (2016), Universidad de Chile (2016), Federal Reserve of New York (2015), Columbia University (2013-2015).
Conferences: Society for the Advancement of Economic Theory (2024), Expectations in Dynamic Macroeconomic Models (Vienna, 2023), VI Annual Santiago Macro Workshop (2022), Workshop Modelos macroeconómicos para economías pequeñas y abiertas (Online-Argentina, 2021), Conferencia en Desarrollo Económico (Bolivia, 2017), Workshop on Macroeconomics and Development (Argentina, 2017*), Workshop on Financial Stability (Uruguay, 2017*), Latin American Meeting (2017*), CGBCR Conference (Manchester, UK, 2016), NBER Summer Institute (2015*), Sveriges Riksbank (2015*).
Discussions:
“Speculation, Forward Exchange Demand, and CIP Deviations in Emerging Economies” by P. De Leo, L. Keller, D. Zou, LACEA 2024.
“From Cagan to Ramsey” by I. Werning, “Macroeconomics in Emerging Markets”, New York, 2024.
“Inflation Expectations Measurement and its Effect on Inflation Dynamics in Colombia” by A. Sanchez-Jabba, E. Villabon-Hinestroza, B. Romero-Torres, BIS CCA Research Conference, Ottawa, 2023.
“Una Medida Sistémica del Riesgo de Liquidez” by C. Pagliacci and J. Peña, Conferencia en Desarrollo Económico, Bolivia, 2017.
Languages: English (fluent), Spanish (native), German (basic).
Nationality: Chilean.
Family: Married with 3 children.