Economist, Fiscal Affairs Department, International Monetary Fund

700 19th St NW, Washington, DC 20431

email: dgarciamacia at imf.org

PhD Economics, Stanford University

Interests: Macroeconomics, Finance, Economic Growth, Innovation

Curriculum Vitae

The views expressed herein are my own and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Refereed Publications

How Destructive is Innovation?, with Chang-Tai Hsieh & Peter Klenow, Econometrica, 87(5), 1507–1541, September 2019

Replication files: link to zip folder

Coverage: NBER Digest, Chicago Booth Review, Financial Times, Bloomberg

Household Wealth and Resilience to Financial Shocks in Italy, International Journal of Central Banking, 17(3), 241-272, September 2021

IMF WP version: IMF Working Paper 18/196.

Macroprudential Policy with Liquidity Panics, with Alonso Villacorta, forthcoming at the Review of Financial Studies

ESRB WP version: ESRB Working Paper No. 2

Runner-up of the Ieke van den Burg Prize for Research on Systemic Risk (2016), European Central Bank

Working Papers

The Financing of Ideas and the Great Deviation, IMF Working Paper 17/176, under revision for the Journal of Monetary Economics

Awarded the Kauffman Dissertation Fellowship (2014), Ewing Marion Kauffman Foundation

The Stabilizing Role of Net Foreign Asset Returns, with Gustavo Adler, IMF Working Paper 18/79

Corporate Financing of Innovation and the Medium-Run Cycle

Sean Buckley Memorial Award for the Best Second-Year Paper (2013), Economics Department, Stanford University

Technological and Economic Decoupling in the Cyber Era, with Rishi Goyal, IMF Working Paper 20/257

Coverage: Financial Times, IMF Finance & Development Magazine, IMF Research Perspectives, Journal of International Affairs, CSFI panel (video)

Fiscal Rules and Fiscal Councils: Recent Trends and Performance during the COVID-19 Pandemic, with Hamid R. Davoodi, Paul Elger, Alexandra Fotiou, Xuehui Han, Andresa Lagerborg, W. Raphael Lam, and Paulo Medas, IMF Working Paper 22/11

Dataset and visualization tool: Fiscal Rules Dataset; Coverage: IMF Blog

The Insolvency Regime for Large Enterprises in Italy: An Economic and Legal Assessment, with Nazim Belhocine and José Garrido, IMF Working Paper 18/218

The Measurement of External Accounts, with Gustavo Adler and Signe Krogstrup, IMF Working Paper 19/132

Identifying Service Market Reform Priorities in Italy, with Nazim Belhocine, IMF Working Paper 20/39

Labor Costs and Corporate Investment in Italy, IMF Working Paper 20/38

Tracing Productivity Growth Channels in the UK, with Julia Korosteleva, IMF Working Paper 21/273

From Wood to Coal May Well Be from Malthus to Solow, with Egemen Eren

Compliance with the Stability and Growth Pact: Counterfactual Scenarios, with Nathaniel Arnold

International Financial Integration and the Exchange Rate Disconnect, with Gustavo Adler and Igor Cesarec

Non-Refereed Publications

An Open-Economy Neoclassical Growth Model with a Two-Party System, with Pau Roldan & Peter Zorn, Addenda Review, 3, Spring 2012.