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I am an Assistant Professor in the Department of Economics and Business at The City College of New York, CUNY. Before joining City College, I spent two years at Centro de Investigación y Docencia Económicas (CIDE) in Mexico City. I received my Ph.D. in Economics from the University of Massachusetts Amherst.
I am an applied economist with research interests in international trade, economic growth and macro development. I am particularly interested in how economic policy shapes patterns of rapid development (or the lack thereof), with a regional focus on Latin America.
Email: mhoyos[at]ccny[dot]cuny[dot]edu
Twitter: @mathoyos
Working papers
Working papers
Monetary Policy in Emerging Markets under Global Uncertainty, with Juan R. Hernández and Daniel Ventosa-Santaulària, R&R, IMF Economic Review
Local and Spillover Effects of Trade on Structural Transformation: Evidence from Brazil, with José Alejandro Coronado and Guilherme Klein Martins, R&R, Journal of Development Economics
Import Competition and Educational Attainment: Evidence from the China Shock in Mexico, with Francisco Cabrera-Hernández and Emmanuel Chávez
Dynamic Trade Elasticities and Comparative Advantage: Evidence from a Preferential Trade Agreement, with Rémi Stellian
Monetary Shocks and Inflation: Global Evidence from Trilemma-Based Identification, with Cameron Haas, Arslan Razmi, Guilherme K. Martins, and Emiliano Libman
Work in progress
Work in progress
Trade Shocks, Gendered Labor Market Exposure, and Fertility: Evidence from a Middle-Income Country (with Anamika Sen, and Cynthia Ramos)
Peer-reviewed publications
Peer-reviewed publications
6. Tariffs and Growth: Heterogeneity by Economic Structure, Forthcoming, Journal of Comparative Economics.
- Working paper: SocArXiv Papers. Replication material: GitHub.
5. North–South Trade, Technology Diffusion, and Uneven Development. (2025). Economics of Innovation and New Technology, 34(4), pp. 613-633.
4. North-South Trade as a Source of Uneven Development: A Critical Literature Review. (2025). Journal of Industry, Competition and Trade, 25, 5.
3. Did the Trade Liberalization of the 1990s Really Boost Economic Growth? A Critical Replication of Estevadeordal and Taylor (2013). (2022). Empirical Economics, 63, pp. 525-548.
- Media: Phenomenal World.
2. The Structural Outcomes of Investment Surges, with Arslan Razmi and Emiliano Libman. (2021). Structural Change and Economic Dynamics, 58, pp. 245-255.
- Working Paper: UMass Economics Department Series.
1. Trade Liberalization and Premature Deindustrialization in Colombia. (2017). Journal of Economic Structures, 6(30).
Other work
Other work
Book chapters
Cabrera-Hernández, F., Hoyos, M. & Chávez, E. (2025). Del conflicto a la oportunidad: Nearshoring en México ante la guerra comercial Estados Unidos–China. In Di Giannatale, S. & Hernández-Trillo, F. (Ed.), Los retos de la economía mexicana 2025-2030. Centro de Investigación y Docencia Económicas.
Hoyos, M. & Flechas, J. P. (2013). El movimiento estudiantil frente a la reforma a la educación superior en Colombia. In Orozco Silva, L. E. (Ed.), La educación superior: Retos y perspectivas. Universidad de los Andes.
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