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(pdf) updated Nov 2017

Department of Economics

Boston College

Malloney Hall 325

140 Commonwealth Avenue

Chesnut Hill, Mass 02467

Phone  : 617-552-6577                                             E-mail: pguerron@gmail.com

Fax      :  617-552-2308


Age:                        43

Citizenship:          United States    


        Primary:                 Macroeconomics

Secondary:            International Finance, Time Series


        Ph.D., Economics, Northwestern University, Evanston, Illinois, 2006

M.A.:  Economics, Northwestern University, Evanston, Illinois, 2003

M.Sc.: Economics, Centro de Investigacion y Docencia Economicas, Mexico City, Mexico, 2001

Degree in Electronic Engineering: Escuela Politecnica Nacional, Quito, Ecuador, 1998, Summa Cum Laude


 § Associate Professor (with tenure), Boston College, 2016-Present

 § Senior Economic Advisor and Economist, Federal Reserve Bank of Philadelphia, 2015 - 2016

 § Economic Advisor and Economist, Federal Reserve Bank of Philadelphia, 2012 - 2014

 § Senior Economist, Federal Reserve Bank of Philadelphia, 2011  

§       Economist, Federal Reserve Bank of Philadelphia, July 2009 - 2011

§       Adjunct Assistant Professor, Instituto Tecnologico de Monterrey, Quito, Ecuador, March 2007 - August 2008

§ Assistant Professor, North Carolina State University, August 2006 - July 2010

§      Visiting Scholar, Federal Reserve Bank of Atlanta, August 2007, April 2008 

§      Visiting Scholar, Department of Economics, Duke University, April 2007 – May 2008 

§      Lecturer, Business and Institutions Program, Northwestern University, 2006

§ Adjunct Assistant Professor, Pontificia Universidad Salesiana, Quito, Ecuador, 1998

§      Manager, Electro-Ecuatoriana, Elevators Division, Quito, Ecuador, 1998 – 1999, 2002 

§      Field Engineer, Tecniequipos, Quito, Ecuador, 1998 


Ø Green Belt Software Developer, Intel Software Network, 2011.

Ø Gill Research Grant, North Carolina State University, 2007 - 2009.

Ø Faculty Research and Professional Development Grant, North Carolina State University, 2007 - 2009.

Ø Distinction in the “Preliminary Exam in Macroeconomics,” Northwestern University, Department of Economics, 2002

Ø University Fellowship, Northwestern University, 2001 – 2002

Ø Outstanding Student Award, Centro de Investigación y Docencia Economicas, 2001

Ø Fellowship, Centro de Investigación y Docencia Economics, 1999 - 2001

Ø Valedictorian, Escuela Politecnica Nacional, Commencement Ceremony, 1998

Ø Outstanding Student Award, Department of Electric Engineering, Escuela Politecnica Nacional, 1997.


Published Papers

Ø     “Asymmetric Business Cycles and Sovereign Default,” (with Grey Gordon), 2017, Economic Letters 161.   

Ø     "Dynamics of Investment, Debt, and Default," (with Grey Gordon) 2017, forthcoming Review of Economic Dynamics.

Ø "Interest Rates and Prices in an Inventory Model of Money and Credit," (joint with Mike Dotsey) 2016, Journal of Monetary Economics 83. 

Ø “Fiscal Volatility and Economics Activity,” (joint with J. Fernandez-Villaverde, K. Kuester, and J. Rubio-Ramirez) 2015,  American Economic Review 105.  

Ø  Nonlinear Adventures at the Zero Lower Bound” (joint with Jesus Fernandez-Villaverde, Grey Gordon, and Juan Rubio-Ramirez) 2015, Journal of Economic Dynamics and Control 57.

Ø  Estimating Dynamic Equilibrium Models with Stochastic Volatility” (joint with Jesus Fernandez-Villaverde, Juan Rubio-Ramirez) 2015, Journal of Econometrics 185.

Ø  “Supply-Side Policies and the Zero Lower Bound,” (joint with J. Fernandez-Villaverde and J. Rubio-Ramirez) 2014, IMF Review 62.

Ø  “Frequentist Inference in Weakly Identified DSGE Models,” (joint with A. Inoue and L. Kilian) 2013, Quantitative Economics 4, pp: 197-229.

Ø    “Common Factors in Developed Small Open Economies,” Journal of International Economics 90 (2013), pp: 33-49.

Ø “Bayesian Estimation of DSGE Models,” (joint with Jim Nason) Handbook of Empirical Methods in Macroeconomics 2013.

Ø  “Risk Matters: The Real Effects of Volatility,” (joint with J. Fernandez-Villaverde, J. Rubio-Ramirez, and M. Uribe) 2011, 2011, American Economic Review 101, pp: 2530-61.

Ø “The Implications of Inflation in an Estimated New-Keynesian Model,” Journal of Economic Dynamics and Control 35 (2011), pp: 947-962.

Ø Economic Development and Heterogeneity in the Great Moderation among the States, 2011, forthcoming, B.E. Journal of Macroeconomics.

Ø     “What you match does matter: The effects of Data on DSGE Estimation,” Journal of Applied Econometrics 25 (2010), pp: 774-804.

Ø  “Reading the Recent Monetary History of the U.S., 1959-2007,” (joint with J. Fernandez-Villaverde and J. Rubio-Ramirez) 2010, forthcoming, Federal Reserve Bank of St. Louis Review.

Ø  “The New Macroeconometrics: A Bayesian Approach,” (joint with J. Fernandez-Villaverde and J. Rubio-Ramirez) 2010, Handbook of Applied Bayesian Analysis, Oxford University Press.

Ø  Economic Development and Heterogeneity in the Great Moderation among the States,” (joint with T. Grennes and A. Leblebicioglu) 2010, Economics Bulletin.

Ø  “Money Demand Heterogeneity and the Great Moderation,” Journal of Monetary Economics 56 (2009), pp: 255-266.

Ø  “Refinements on Macroeconomic Modeling: The Role of Non-Separability and Heterogeneous Labor Supply,” Journal of Economic Dynamics and Control 32 (2008), pp: 3613 – 3630.

Working Papers

§  “Liquidity, Trends, and the Great Recession,” (joint with Ryo Jinnai), January 2016 (revise and resubmit Quantitative Economics).

 Current Projects

Ø  Regional Default and Migration in General Equilibrium (with Grey Gordon)

Ø  Tax Competition among States (with Grey Gordon)

Ø  Liquidity and Asset Prices (with Ryo Jinnai)

Referee for American Economic Review, Economic Inquiry, Journal of Monetary Economics (3), Journal of Econometrics, Journal of Money Credit and Banking (2), Macroeconomic Dynamics, Journal of Applied Econometrics, Southern Journal of Economics, Journal of Macroeconomics, Canadian Journal of Economics, B.E. Journal of Macroeconomics (2), Journal of Economic Dynamics and Control (2), Journal of Economic Surveys, Journal of International Economics (2), Journal of Economics and Business, Review of Economic and Statistics, Review of Economic Studies.