Research Interests
macroeconomics, international trade, financeSelected Work
“Improving Sovereign Debt Restructurings”
with Juan M. Sánchez, Horacio Sapriza, and Emircan Yurdagul
Journal of Economic Dynamics & Control, June 2022, Vol. 139, 104435
Related working paper (PDF)
“Sovereign Debt Restructurings”
with Juan M. Sánchez, Horacio Sapriza, and Emircan Yurdagul
American Economic Journal-Macroeconomics, April 2021, Vol. 13, No. 2, pp. 26-77
Related working paper (PDF)
“News, sovereign debt maturity, and default risk”
with Juan M. Sánchez, Horacio Sapriza, and Emircan Yurdagul
Journal of International Economics, September 2020, Vol. 126, 103352
Related working paper PDF)
Appendix file (PDF)
“Trade and Labor Market Dynamics: General Equilibrium Analysis of the China Trade Shock”
with Lorenzo Caliendo and Fernando Parro
Econometrica May 2019, Vol. 87, No. 3, pp. 741-835
Related working paper (PDF)
Appendix file (PDF)
“The Impact of Trade on Labor Market Dynamics”
with Lorenzo Caliendo and Fernando Parro
NBER Working Paper Series, May 2015, No. 21149
“How Tariffs Are Affecting Prices in 2025”
with Fernando Leibovici and Ana Maria Santacreu
On the Economy, October 16, 2025
“What Have We Learned from the U.S. Tariff Increases of 2018-19?”
with Cassandra Marks
On the Economy, May 22, 2025
“Regional Trends in Inflation and Nominal Wages”
with Cassandra Marks
On the Economy, November 26, 2024
“Nominal Wage Adjustments during High Inflation and Tight Labor Markets”
with Cassandra Marks
Federal Reserve Bank of St. Louis Review, Fourth Quarter 2024
“The Recent Ins and Outs of Unemployment: Using Flows to Study Labor Market Dynamics”
with Serdar Ozkan
On the Economy, September 24, 2024
“Assessing Labor Market Conditions Using High-Frequency Data”
with Maggie Isaacson
Federal Reserve Bank of St. Louis Review, Fourth Quarter 2021
“The Case of the Reappearing Phillips Curve: A Discussion of Recent Findings”
with Asha Bharadwaj
Federal Reserve Bank of St. Louis Review, Third Quarter 2020
“Which Jobs Have Been Hit Hardest by COVID-19?”
Federal Reserve Bank of St. Louis The Regional Economist, Third Quarter 2020, Vol. 28, No. 3
“The Rise of Automation: How Robots May Impact the U.S. Labor Market”
with Asha Bharadwaj
Federal Reserve Bank of St. Louis The Regional Economist, Second Quarter 2019, Vol. 27, No. 2
“Startups Create Many Jobs, but They Often Don't Last”
with Charles S. Gascon
Federal Reserve Bank of St. Louis The Regional Economist, Third Quarter 2017, Vol. 25, No. 3
“Fiscal Federalism and Optimal Income Taxes”
Federal Reserve Bank of St. Louis Review, Fourth Quarter 2017
“City Growth and Real Income”
with Asha Bharadwaj
Federal Reserve Bank of St. Louis Economic Synopses, 2017, No. 19
“A Regional Look at U.S. International Trade”
with Hannah G. Shell
Federal Reserve Bank of St. Louis Review, First Quarter 2016
“The Recent Evolution of U.S. Local Labor Markets”
with Hannah G. Shell
Federal Reserve Bank of St. Louis Economic Synopses, 2016, No. 15
“Bank Lending During Recessions”
with Hannah G. Shell
Federal Reserve Bank of St. Louis Economic Synopses, 2016, No. 2
“The Relationship Between Labor Market Conditions and Wage Growth”
with Hannah G. Shell
Federal Reserve Bank of St. Louis Economic Synopses, 2015, No. 13
“Jobs: More Slowly Created, More Slowly Destroyed”
Federal Reserve Bank of St. Louis Economic Synopses, 2015, No. 6
“The Geography of Wealth: Shocks, Mobility, and Precautionary Savings” (PDF)
with Brian Greaney
Federal Reserve Bank of St. Louis Working Paper 2024-033C, September 2025
“Heterogeneous Agents Dynamic Spatial General Equilibrium” (PDF)
Federal Reserve Bank of St. Louis Working Paper 2023-005A, March 2023
“International Trade and Labor Reallocation: Misclassification Errors, Mobility, and Switching Costs” (PDF)
Federal Reserve Bank of St. Louis Working Paper 2021-014E, June 2024
“Occupation Mobility, Human Capital and the Aggregate Consequences of Task-Biased Innovations” (PDF)
with Alexander Monge-Naranjo
Federal Reserve Bank of St. Louis Working Paper 2019-013C, October 2019
Maximiliano A. Dvorkin is an economic policy advisor in the Research division of the Federal Reserve Bank of St. Louis, which he joined in May 2014. His research interests include macroeconomics, labor economics, international trade and finance. He received his Ph.D. in economics from Yale University. He has written several peer-reviewed academic publications in top journals in the fields of macroeconomics, international trade, and finance. Before joining the Federal Reserve, he worked at the Bank of Spain, BBVA in Spain, and IERAL in Argentina. Most recently, his research has been discussed on CNBC, MNI, and Reuters.