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Research Interests
macroeconomics, search theory, capital flows, debt crises and defaults, the informal sector, labor market frictions, models of marriage and datingSelected Work
“Targeted Search in Matching Markets”
with Anton Cheremukhin and Antonella Tutino
Journal of Economic Theory, January 2020, Vol. 185
Related working paper (PDF)
“Endogenous Borrowing Constraints and Stagnation in Latin America”
Journal of Economic Dynamics & Control, December 2019, Vol. 109
Related working paper (PDF)
“Bad Investments and Missed Opportunities? Postwar Capital Flows to Asia and Latin America”
with Lee E. Ohanian and Mark L. J. Wright
American Economic Review, December 2018, Vol. 108, No. 12, pp. 3541-82
Related working paper (PDF)
“Macroeconomic Volatility: The Role of the Informal Economy”
European Economic Review, August 2014, Vol. 70, pp. 454-469
“The Labor Wedge as a Matching Friction”
with Anton Cheremukhin
European Economic Review, May 2014, Vol. 68, pp. 71-92
“On the Macroeconomic Effects of Public Debt Composition in Colombia”
with Franz Hamann and Julian Perez
Essays on Economic Policy, December 2005, Vol. 49, pp. 13-47
“Disinflation Costs Under Inflation Targeting in a Small Open Economy”
Borradores de Economia, No. 328
“COVID-19: Fiscal Implications and Financial Stability in Developing Countries”
with Praew Grittayaphong
Federal Reserve Bank of St. Louis Review, Third Quarter 2023
“Is a Soft Landing Possible? What the Beveridge Curve Reveals”
On the Economy, September 1, 2023
“Examining the Beveridge Curve with a Dual Vacancy Model”
On the Economy, August 31, 2023
“Why Financial Sanctions on Russia Might Not End Russia’s War on Ukraine”
On the Economy, August 23, 2022
“Bretton Woods and the Growth of the Eurodollar Market”
On the Economy, January 20, 2022
“Measuring Labor Share in Developing Countries”
with Brian Reinbold
Federal Reserve Bank of St. Louis The Regional Economist, First Quarter 2018, Vol. 26, No. 1
“The Relationship between Oil and Equities at the Zero Lower Bound”
with Brian Reinbold
Federal Reserve Bank of St. Louis The Regional Economist, First Quarter 2018, Vol. 26, No. 1
“Financial Conditions Indexes”
with Brian Reinbold
Federal Reserve Bank of St. Louis Economic Synopses, 2017, No. 17
“The Decline of Coal”
with Maria A. Arias and Brian Reinbold
Federal Reserve Bank of St. Louis Economic Synopses, 2017, No. 16
“Monetary Policy in an Oil-Exporting Economy”
with Jesús Bejarano, Franz Hamann, and Diego Rodríguez
Federal Reserve Bank of St. Louis Review, Third Quarter 2016
“Does the Pullback in the Bond Market Matter?”
with Maria A. Arias
Federal Reserve Bank of St. Louis Economic Synopses, 2016, No. 24
“The Direction of Capital Flows”
with Lee E. Ohanian and Mark L. J. Wright
Federal Reserve Bank of St. Louis Economic Synopses, 2016, No. 22
“Marriage Market Sorting in the U.S.” (PDF)
with Anton Cheremukhin and Antonella Tutino
Federal Reserve Bank of St. Louis Working Paper 2023-023A, September 2023
“COVID-19: Fiscal Implications and Financial Stability in Developing Countries” (PDF)
with Praew Grittayaphong
Federal Reserve Bank of St. Louis Working Paper 2022-028A, September 2022
“The Dual Beveridge Curve” (PDF)
with Anton Cheremukhin
Federal Reserve Bank of St. Louis Working Paper 2022-021C, September 2023
“The Impact of Bretton Woods International Capital Controls on the Global Economy and the Value of Geopolitical Stability: A General Equilibrium Analysis” (PDF)
with Lee E. Ohanian, Diana Van Patten, and Mark L. J. Wright
Federal Reserve Bank of St. Louis Working Paper 2020-042E, September 2023
“Wage Setting Under Targeted Search” (PDF)
with Anton Cheremukhin
Federal Reserve Bank of St. Louis Working Paper 2020-041D, May 2023
“Bretton Woods and the Reconstruction of Europe” (PDF)
with Lee E. Ohanian, Diana Van Patten, and Mark L. J. Wright
Federal Reserve Bank of St. Louis Working Paper 2019-030A, October 2019
“Natural Resources and Sovereign Risk in Emerging Economies: A Curse and a Blessing” (PDF)
with Franz Hamann and Enrique G. Mendoza
Federal Reserve Bank of St. Louis Working Paper 2018-032D, September 2023
Paulina Restrepo-Echavarria is an economic policy advisor in the Research division of the Federal Reserve Bank of St. Louis, which she joined in March 2014. Her research interests are in the fields of international macroeconomics and search theory. She has done work on the direction of capital flows, debt crises, sovereign default in commodity rich economies, the incidence of the informal sector in the macroeconomy, labor market frictions, and theoretical models of the marriage and dating market. She received her Ph.D. in economics from UCLA in 2010.
Restrepo-Echavarria’s work has been published in American Economic Review, Journal of Economic Theory, and European Economic Review, among others. She teaches international economics for Ph.D. students at Washington University in St. Louis, is an associate editor for the Review of Economic Dynamics, is the secretary of the Society for Economic Dynamics and a member of the board of directors of RIDGE.
In her free time she serves on the advisory board of the Fondazione Cristiana Benedetti Fasil, a non-profit organization supporting Women in STEM in Africa. Restrepo-Echavarria was conferred the Rodrigo Gomez International Central Banking Award in 2005 for her work on inflation targeting, she was an assistant professor of economics at The Ohio State University, and worked as a researcher at Banco de La Republica de Colombia.
