Claudio Michelacci

CEMFI - Calle Casado del Alisal 5 - 28014 Madrid - Spain
Phone: +34 914 290 551 - Fax: +34 914 291 056 - E-mail: c.michelacci@cemfi.es

DOCTORAL STUDIES

Ph.D., London School of Economics, 1998

TEACHING

Macroeconomics. International Economics

CURRENT RESEARCH

Growth, search, labour, business cycle

CURRICULUM VITAE (the following highlighted items can be downloaded in pdf format )

PUBLICATIONS

“Intertemporal Labor Supply with Search Frictions,” (2010), [with Josep Pijoan], forthcoming Review of Economic Studies. Complementary material: Paper Appendices.
“Does Idiosyncratic Business Risk Matter for Growth?,” (2010), [with Fabiano Schivardi], forthcoming Journal of the European Economic Association. Complementary material: Paper Appendices.
“The Cyclical Behavior of Equilibrium Unemployment and Vacancies in the US and Europe,” (2010), [with Alejandro Justiniano], in NBER-ISOM Macro Annual 2011, Vol. 8
“Social Contacts and Occupational Choice,” (2010), [with Samuel Bentolila and Javier Suarez], Economica, 77. A Financial Time article about this paper. A Financial Time Deutschland article about this paper
“On the effects of Technology Shocks on Hours and Output: A Robustness Analysis ,” (2010), [with Fabio Canova and David Lopez Salido], Journal of Applied Econometrics, 25.
“Financial Markets and Wages,” (2009), [with Vincenzo Quadrini], Review of Economic Studies, 76 (2), 795-827.
“Technology Shocks and Job Flows,” (2007), [with David Lopez Salido], Review of Economic Studies, 74. Replication Material (Data, Programs and Computational Appendix).
“Why So Many Local Entrepreneurs?,” (2007), [with Olmo Silva], Review of Economics and Statistics, 89(4).
“Incomplete Wage Posting,” (2006), [with Javier Suarez], Journal of Political Economy, 114 (6). Complementary note (“Incomplete Wage Posting with Ranking”)

“Borrowing from employees: Wage dynamics with Financial Constraints,” (2005), [with Vincenzo Quadrini], Journal of the European Economic Association, 3 (2-3).
“Cross-Sectional Heterogeneity and the Persistence of Aggregate Fluctuations,” (2004), Journal of Monetary Economics, October, 51, 1321-1352
“Business Creation and the Stock Market,” (2004), [with Javier Suarez], Review of Economic Studies, 71, 459-481. A Corriere della Sera article about this paper
“Low Returns in R&D Due to the Lack of Entrepreneurial Skills,” (2003), Economic Journal, 113, 207-225
“(Fractional) Beta Convergence,” (2000), [with Paolo Zaffaroni], Journal of Monetary Economics, 45, 129-153
“Unemployment Dynamics across OECD Countries,” (2001), [with R. Balakrishnan], European Economic Review, 45, 135-165
“Employment and Output Adjustment in the OECD: A Disaggregate Analysis of the Role of Job Security Provisions,” (2000), [with Simon Burgess and Michael Knetter], Economica, 67, 419-435

BOOKS

“Labour Market Adjustments in Europe,” (2005), [edited with Julián Messina, Jarkko Turunen, and Gylfi Zoega], Edward Elgar Publishing Ltd

WORKING PAPERS

“Optimal Life Cycle Unemployment Insurance,” (2010), [with Hernan Ruffo], mimeo, CEMFI, Online Appendices
“Inequality, Hours and Labor Market Participation,” (2010), [with Josep Pijoan], mimeo, CEMFI.
“The Cyclical Behavior of Equilibrium Unemployment and Vacancies in the US and Europe,” (2010), [with Alejandro Justiniano], paper prepared for the ISoM conference in Malta 2011 organized by Chris Pissarides and Jeffrey Frankel
“How Inefficient is Worker Reallocation?” (2010), [with David Lopez-Salido and Alejandro Justiniano] ], mimeo, CEMFI
“What do Technology shocks tell us about the Ins and Outs of unemployment?,” (2008), [with Fabio Canova and David Lopez Salido], mimeo, CEMFI.
“Schumpeterian Technology Shocks,” (2007), [with Fabio Canova and David Lopez Salido], mimeo, CEMFI. Complementary material: Paper Appendices; Computational Appendix.

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