CV
Here is my CV.
Research
"Entrepreneurship and Interest Rate Shocks in a Small Open Economy," (Job Market Paper).
Abstract: This paper documents empirical evidence about entrepreneurship and shocks to real interest rates in a representative emerging economy (Colombia). The evidence suggests that entrepreneurs represent a small fraction of the total workforce but they hold most of the income in the top percentiles, and that real interest rates in Colombia are subject to substantial shocks. The paper then presents a dynamic model of occupational choice that incorporates the effects of shocks to interest rates. The model predicts an unambiguously negative effect of a higher interest rate on the optimal scale of enterprises (the intensive margin), and an ambiguous effect on the decision of whether to become an entrepreneur or not (the extensive margin). A calibration of the stochastic model suggests that interest rate shocks significantly impair both the access to and the scale of the entrepreneurial sector in emerging economies.
"Equilibrium Default Cycles: A Calibration" (in progress), joint with B. Szentes.
"Systemic Sudden Stops: The Relevance of Balance-Sheet Effects and Financial Integration," joint with G. Calvo and A. Izquierdo, NBER Working Paper No. w14026, May 2008 [PDF]
Unique Equilibrium in a Model of Self-Fulfilling Currency Attacks: Comment, January 2005 [PDF]
"On the Empirics of Sudden Stops: The Relevance of Balance Sheet Effects," joint with Guillermo A. Calvo and Alejandro Izquierdo, May 2004 [PDF] [Data]
