Download University of Minnesota - Twin Cities Curriculum Vitae Fall 2016

University of Minnesota - Twin Cities
Department of Economics
4-101 Hanson Hall
1925 Fourth Street South
Minneapolis, Minnesota 55455
U.S.A.
Placement Director
Manuel Amador
(612) 624-4060 or
(612) 204-5781
[email protected]
Placement Coordinator
Catherine Bach
(612) 625-6859
[email protected]
(612) 625-6353
(612) 624-0209 FAX
Curriculum Vitae
Fall 2016
JOAO LUIZ AYRES QUEIROZ DA SILVA
Personal Data
Address
4-101 Hanson Hall
1925 Fourth Street South
Minneapolis, MN 55455
Contact Information
Cell:
(612) 545-7936
E-mail: [email protected]
URL:
www.joaoayres.com
Citizenship: Brazil (F-1 Visa)
Major Fields of Concentration
International Economics, Macroeconomics, Public Finance
Education
Degree
Ph.D.
M.A.
D.Sc.
M.Sc.
B. Sc.
Field
Economics
Economics
Economics
Economics
Economics
Institution
University of Minnesota (expected)
University of Minnesota
Getulio Vargas Foundation (FGV/EPGE)
Getulio Vargas Foundation (FGV/EPGE)
University of Sao Paulo (FEA-USP)
Dissertation
Title: “Essays in International Economics”
Dissertation Advisors: Professor Timothy Kehoe and Professor Manuel Amador
Expected Completion: Summer 2017
References
Professor Timothy Kehoe
(612) 625-1589
(612) 204-5533
[email protected]
Professor Manuel Amador
(612) 625-4060
(612) 204-5781
[email protected]
Dr. Juan Pablo Nicolini
(612) 204-5487
[email protected]
Department of Economics
University of Minnesota
4-101 Hanson Hall
1925 Fourth Street South
Minneapolis, MN 55455
Research Department
Federal Reserve Bank of
Minneapolis
90 Hennepin Avenue
Minneapolis, MN 55480
Year
2017
2015
2011
2009
2006
Curriculum Vitae
Ayres Queiroz da Silva
Page 2
Honors and Awards
2014
Third Prize, Hardy Third Year Paper Competition, Department of Economics, University of
Minnesota, Minneapolis, Minnesota, joint with Gajendran Raveendranathan
Summer 2013 Distinguished Instructor, Department of Economics, University of Minnesota, Minneapolis,
Minnesota
2013
Participant, The Princeton Initiative: Macro, Money and Finance 2013, Princeton. Nominated by
the Department of Economics of the University of Minnesota, and selected by the organizers.
2011 - 2012 Mudgett Fellowship, Department of Economics, University of Minnesota, Minneapolis,
Minnesota
2009 - 2010 CNPq, Fellowship for Sandwich Doctorate
2008 - 2011 CAPES, Fellowship for Doctorate in Economics
2007 - 2008 CAPES, Fellowship for Masters in Economics
Teaching Experience
Summer 2013 Instructor, Department of Economics, University of Minnesota, Minneapolis, Minnesota.
Instructor for Cost-Benefit Analysis.
2012 - 2013
Teaching Assistant, Department of Economics, University of Minnesota, Minneapolis,
Minnesota. Led recitation sections for Ph.D. level Microeconomic Analysis course sequence .
Summer 2012 Teaching Assistant, Department of Economics, University of Minnesota, Minneapolis,
Minnesota. Led recitation sections for Principles of Microeconomics.
2011
Teaching Assistant, Getulio Vargas Foundation (FGV/EPGE), Rio de Janeiro, Brazil. Led
recitation sections in Corporate Finance for the Professional Masters Program in Finance and
Business Economics.
2008-2009
Teaching Assistant, Getulio Vargas Foundation (FGV/EPGE), Rio de Janeiro, Brazil. Led
recitation sections in Macroeconomics II, Risk Management, and Futures and Options.
Research Experience
2013 - present Research Analyst, Research Department, Federal Reserve Bank of Minneapolis, Minneapolis,
Minnesota. Research assistant to Juan Pablo Nicolini and Lumita Stevens.
2009 – 2011
Research Assistant, Getulio Vargas Foundation (FGV/EPGE), Rio de Janeiro, Brazil. Research
assistant to Marco Bonomo.
Professional Experience
2003 – 2004
Intern, Fator Asset Management, Sao Paulo-SP, Brazil
Papers
“Knowledge Flows and Dark Matter,” job market paper
“Sovereign Default: The Role of Expectations,” with Gaston Navarro, Juan Pablo Nicolini, and Pedro Teles, revise
and resubmit to Journal of Economic Theory.
Work in Progress
“Real Exchange Rates and Primary Commodity Prices,” with Constantino Hevia and Juan Pablo Nicolini.
“Lack of Firm Entry and the Slow Recovery of the U.S. Economy After the Great Recession,” with Gajendran
Raveendranathan.
“The Monetary and Fiscal History of Latin America: Brazil,” with Marcio Garcia, Diogo Guillen, and Patrick
Kehoe.
“Price Setting in a Variable Macroeconomic Environment: Evidence from Brazilian CPI,” with Rebecca Barros,
Marco Bonomo, Carlos Carvalho, and Silvia Matos.
“Yet More Heterogeneity in Price Stickiness, Yet Larger Monetary Non-Neutralities,” with Carlos Carvalho.
“Sales and the Macroeconomy,” with Rebecca Barros, Marco Bonomo, and Carlos Carvalho.
Curriculum Vitae
Ayres Queiroz da Silva
Page 3
Presentations
“Knowledge Flow and International Recessions,” presented at the Society for the Advancement of Economic
Theory Conference, Rio de Janeiro, July 2016.
“Real Exchange Rates and Primary Commodity Prices,” presented at the Federal Reserve Bank of Minneapolis,
Minneapolis, Minnesota, May 2015.
“Lack of Firm Entry and the Slow Recovery of the U.S. Economy After the Great Recession,” presented at the
Midwest Economic Association Annual Meeting, Minneapolis, Minnesota, March 2015.
“Sales and the Macroeconomy,” presented at the Latin American and Caribbean Economic Association Annual
Meeting, Buenos Aires, Argentina, September 2009.
Referee Experience
Brazilian Review of Econometrics; Economic Theory; Journal of Economics and Business; Journal of Money, Credit
and Banking; Revista Brasileira de Economia
Computer Skills
Fortran, MATLAB, Stata, LaTex
Languages
English (fluent), Portuguese (native), Spanish (intermediate)
Abstracts
“Knowledge Flows and Dark Matter,” job market paper
I quantify the knowledge flow within U.S. multinational corporations in the United States and European Union. I
use a two-country general equilibrium model of knowledge flows through multinationals that builds on McGrattan
and Prescott (2010) and calibrate both the share of knowledge in the production function and its depreciation rate
to match the factor share differentials between the operations of U.S. multinationals in the United States and
European Union. The main assumptions are: i) U.S. multinationals produce knowledge in the United States; ii)
knowledge is used in production by its subsidiaries in the European Union; and iii) investment in knowledge is
expensed in the corporation accounts. Under these assumptions, a prediction of the model is that the observed labor
share of U.S. multinational operations in the United States must be lower than the labor share of their subsidiaries
in the European Union, whereas the ratio of capital expenditures to compensation of employees must be the same,
both patterns found in the data. The estimated share of knowledge is 29%, and its annual depreciation rate is 17%.
Furthermore, I show that the model calibrated with these parameter values has quantitative implications for
international real business cycles. I provide empirical evidence that connects the operations of U.S. multinationals
in the European Union to the correlation between corporate sector GDP fluctuations in the United State and
European Union in 1995-2007. Accounting for the corporate sector GDP correlation, the model with knowledge
flows reduces the distance between the standard international real business cycle model and data by 48%.
“Sovereign Default: The Role of Expectations,” with Gaston Navarro, Juan Pablo Nicolini, and Pedro Teles.
We study a variation of the standard model of sovereign default, as in Aguiar and Gopinath (2006) or Arellano
(2008), and show that this variation is consistent with multiple interest rate equilibria. Some of those equilibria
correspond to the ones identified by Calvo (1988), where default is likely because rates are high, and rates are high
because default is likely. The model is used to simulate equilibrium movements in sovereign bond spreads that
resemble sovereign debt crises. It is also used to discuss lending policies similar to the ones announced by the
European Central Bank in 2012.