I am a 5th-year Ph.D. candidate in Economics at the European University Institute, specializing in Quantitative Macroeconomics with micro heterogeneity. My research is supervised by Russell Cooper and Thomas Crossley.
Research Focus
I study how the aggregation of heterogeneity among households and firms determines the transmission of macroeconomic policy. My research spans nonlinear productivity dynamics, lumpy adjustment in durable goods and firm investment, and the adoption of green technologies.
- Quantitative Macroeconomics
- Firm Dynamics
- Household Finance
- Heterogeneous Agents
Research
Work in Progress
Nonlinear Productivity Dynamics
with José Alberto Ferreira and Marius Grünewald Presented at: ECB DG Research (Dec 2024), CREI Macro WG (May 2025), EUI 4th year Forum (Jan 2026)
Abstract
This paper explores the nonlinear dynamics of firm-level productivity, focusing on the distinction between technical efficiency (TFPQ), taken as exogenous, and revenue productivity (TFPR), that incorporates the endogenous pricing decision of the firm. We make two contributions. First, we propose an iterative procedure for jointly estimating production functions and demand systems, yielding firm-level measures of TFPQ and demand advantages that are jointly identified. Second, we estimate flexible dynamics for TFPQ and compare them to those of TFPR. Using a novel dataset of Portuguese manufacturing firms spanning 2011-2019, we estimate theory-consistent measures of TFPQ and TFPR and study their cross-sectional properties and dynamics. Our findings for TFPQ highlight significant deviations from the linear-Gaussian assumptions otherwise standard in the literature (like AR(1) processes). We document hump-shaped conditional kurtosis and productivity history-wiping properties under extreme shocks. TFPR is more persistent than TFPQ and less variable in persistence across states and shocks. We find that TFPQ and demand shifters are positively correlated, and that prices partially offset productivity differences, compressing TFPR relative to TFPQ. These findings highlight the importance of distinguishing physical efficiency from revenue-based measures when studying firm dynamics.Lumpy Durable Goods, Intertemporal MPX, and Policy Transmission
with Juan Castellanos
Abstract
The recent literature reassesses fiscal and monetary policy with heterogeneity in MPCs. This is typically done in a model with only non-durable consumption, yet most of the heterogeneity and asymmetry in marginal propensities to consume stems from differences in durable consumption over the business cycle. We build a heterogeneous-agent model with lumpy durable purchases, collateral-based borrowing, and idiosyncratic income risk. We demonstrate that the inclusion of lumpy durables fundamentally alters the level, distribution, and persistence of the intertemporal marginal propensity to spend (iMPX). Durable spending is heavily front-loaded due to extensive-margin adjustments, while non-durable consumption exhibits a smoother and more persistent path. We decompose both fiscal and monetary policy transmission into distinct channels—direct interest-rate effects, relative-price effects, labor income effects, and government transfer effects—and study how durables shape the interaction between fiscal and monetary policy. We validate the model against the iMPC estimates of Fagereng, Holm, and Natvik (2021), showing that standard nondurable-only iMPC estimates understate the total expenditure response to income transfers.Green Transition of Vehicles: Network Effects and Policy Evaluation
Abstract
This paper studies how network effects between electric vehicle (EV) adoption and charging infrastructure shape the green transition of the automobile market. I develop an equilibrium model of new and secondary vehicle markets with heterogeneous households that differ in income and environmental preferences. A key feature of the model is strategic complementarity: the utility of owning an EV depends on the aggregate stock of EVs through the endogenous provision of charging infrastructure, creating a positive feedback loop. This mechanism gives rise to multiple equilibria—a low-adoption trap where sparse infrastructure suppresses demand, and a high-adoption equilibrium sustained by a dense charging network. I use the framework to evaluate alternative policy designs, including tax exemptions and subsidies, and assess their distributional consequences across household types. The model is calibrated to the Danish automobile market.Lumpy Investment and Monetary Policy
Teaching
TA PhD Courses
Macro II: New Keynesian Economics
European University Institute, TA to Prof. Edouard Challe
Lecture Notes I wrote for the course on the basic New Keynesian Model and linearization techniques.
TA Undergraduate Courses
Industrial Organisation
Université Catholique de Louvain, TA to Prof. Paul Belleflamme, Spring 2021
Public Economics
Université Catholique de Louvain, TA to Prof. Jean Hindriks, Spring 2021
Political Economy
Université Catholique de Louvain, TA to Prof. Rigas Oikonomou and Prof. Gonzague Vannoorenberghe, Fall 2021