Tel. +34 93 542 1942
Personal web page
Available for Interviews at
European Job Market for Economists (EEA), December 18-19, Rotterdam, The Netherlands
Allied Social Science Associations (ASSA), January 3-5, San Diego, US
Macroeconomics. Monetary Economics. Applied Econometrics.
"Production Networks and the Flattening of the Phillips Curve" (Job Market Paper)
This paper analyses the role of structural transformation in production networks on the flattening of the Phillips curve over the last decades. To this purpose, I build a multi-sector model with production networks, and heterogeneity in the network structures, degree of nominal rigidities and market power. In the production network model, inflation sensitivity to the output gap becomes dependent on the network structure of the economy. Two characteristics of the network matter for inflation dynamics: the network multiplier and output shares. In particular, the slope of the Phillips curve depends negatively on characteristics that are more prevalent in the service sector. Analyzing the input-output structure from 1963 to 2017, I document not only a structural transformation in value added output but also an increase in the centrality of the service sector (service deepening). Calibrating the model to this sectoral transformation can account for a decrease in the slope of up to 15% percent.
“Network Effects of Oil Price Shocks"
Research Papers in Progress
“How large are Strategic Complementarities? Evidence from VAT Changes in the U.K.”
“On the Sources of Heterogenous Frequency of Price Adjustment” (with Donghai Zhang)