Sebastiao Oliveira

I am a Ph.D. candidate in Economics at the University of Illinois at Urbana-Champaign. I study corporate finance, international finance, monetary policy, and venture capital.

My research has been accepted for presentation at the WFA, SFS Cavalcade, EFA, FIRS, and AFA, and is currently under R&R at leading economics and finance journals. During my Ph.D., I participated in the Chicago Fed Graduate Student Visitor Program (Finance Team) and was a Dissertation Fellow in the Capital Markets Section at the Federal Reserve Board.

I am on the 2026–2027 academic job market.

CV [ PDF ]

Contact: so28@illinois.edu

Committee members: Heitor Almeida (chair), Dan Bernhardt (co-chair), Yuchen Chen, Jaewon Choi, and Josef Zechner.

Working Papers

Product Life Cycle Heterogeneity in the Transmission of Uncertainty (Job Market Paper)

The Impact of Monetary Policy on Venture Capital Finance, with Jose Carlos Abreu and Eduardo Marinho.

Reject & Resubmit, Journal of Finance

The Equity Constraint Channel of Monetary Policy, with Heitor Almeida, Timothy Johnson, and Yucheng Zhou.

Optimal Sovereign Debt Structure: Evidence and Theory, with Jaewon Choi, Jay Rafi, and Josef Zechner.

Buy or Build? How AI Shapes Corporate Acquisitions and Innovation, with Vahid Shadram.

The Effect of U.S. Monetary Policy on Foreign Firms: Does Debt Maturity Matter?, with Jay Rafi and Pedro Simon.

Revise & Resubmit (2nd round), Journal of International Economics

Do Exchange Rate Shocks Affect Firms' Production Capacity? The Working Capital Channel

Brems Award for Best Third Year Paper

Market Expectations and the Credibility of Monetary Policy, with Pedro Simon.

Equity Financing Risk, with Mamdouh Medhat and Berardino Palazzo.

Revised & Resubmitted, Review of Asset Pricing Studies

Publications

How Different is the Brazilian Political System? A Comparative Study (2022), with Odilon Camara and Luciano de Castro. E-Legis 37: 7-37.

Media: Exame, Estadão, O Globo

Work in Progress

On the Cost Channel of Monetary Policy: The Role of Working Capital Constraints, with Heitor Almeida and Daniel Carvalho.
Auction Design via Market Feedback and the Implications for Takeover Premia, with Dan Bernhardt and Tingjun Liu.
Do VC Funding Constraints Amplify Monetary Policy Shocks?, with Jose Carlos Abreu and Eduardo Marinho.
Global Mutual Fund Flows and the U.S. Dollar, with Jaewon Choi, Changdeok Hong, and Jay Rafi.
The Impact of Generative AI on Venture Capital Finance, with Vahid Shadram.
How Does Private Equity Transmit Monetary Policy Shocks? The Private Debt Channel, with Heitor Almeida.