Vasia Panousi

Assistant professor of economics, Universite de Montreal

Canada research chair in the macroeconomics of risk and entrepreneurship

Director lab for macroeconomic policy



Assistant Professor of Economics, Universite de Montreal, June 2016-

Researcher CIRANO 2017-

Principal Economist, Federal Reserve Board, 2015-2016

Senior Economist, Federal Reserve Board, 2013-2015

Economist, Federal Reserve Board, 2008-2013


Massachusetts Institute of Technology, Ph.D. in Economics, 2008

Athens University of Economics and Business, B.Sc. in Economics (highest honors), 2002

Athens University of Economics and Business, M.Sc. in Economics (highest honors), 2001

Published and submitted papers

“Revisiting the supply-side effects of government spending”, 2009, with George-Marios Angeletos, Journal of Monetary Economics 56, 137-153.

“Financial integration, entrepreneurial risk, and global dynamics”, 2011, with George-Marios Angeletos, Journal of Economic Theory 146, 863-896.

“Investment, idiosyncratic risk, and ownership”, 2012, with Dimitris Papanikolaou, Journal of Finance 67.

“Rising inequality: Transitory or persistent? New evidence from a panel of US tax returns”, 2013, with Jason DeBacker, Bradley Heim, Shanthi Ramnath, and Ivan Vidangos, Brookings Papers of Economic Activity, Spring.

“A unified framework for optimal taxation with undiversifiable risk”, 2018, with Catarina Reis, Macroeconomic Dynamics.

“A risky venture: Income dynamics among passthrough business owners”, 2022, with Jason DeBacker, and Shanthi Ramnath, American Economic Journal: Macroeconomics, forthcoming.

“Capital taxation with entrepreneurial risk”, 2022, accepted minor revisions, Journal of Monetary Economics.

“Optimal capital taxation with idiosyncratic investment risk”, 2022, with Catarina Reis, revise and resubmit, Journal of Economic Theory.

Work in progress

“The covariance structure of household income”, 2022, with Michael Barnett.

“Business risks in the Great Recession”, 2019, with Michael Barnett.

Financial integration, idiosyncratic risk and business cycles, 2020, with Marlene Koffi.

“Pricing innovation: Evidence from Canadian pharmaceuticals”, 2022, with Marlene Koffi.

“Shadow banking in the US”, 2022, with Magnim Farouh.

“Shadow banking in Canada”, 2022, with Souleyman Zerbo.

“Military intimidation: The international influence of US military troops on the value of bilateral trade”, 2022, with Jean-Francois Lebreux.

References in the press

CV and Papers