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Research Interests
macro-finance, firm dynamics, economic growth, consumer finance, sovereign defaultSelected Work
“Domestic Policies and Sovereign Default”
with Emilio Espino, Julian Kozlowski, and Fernando M. Martin
Forthcoming in American Economic Journal-Macroeconomics
Related working paper (PDF)
“The Effects of Macroeconomic Shocks: Household Financial Distress Matters”
with Kartik Athreya, Ryan Mather, and José Mustre-del-Río
Forthcoming in Review of Financial Studies
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“The Persistence of Financial Distress”
with Kartik Athreya and José Mustre-del-Río
Review of Financial Studies
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“Natural Resources and Global Misallocation”
with Alexander Monge-Naranjo and Raul Santaeulalia-Llopis
American Economic Journal-Macroeconomics
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“Evergreening”
with Miguel Faria e Castro and Pascal Paul
Journal of Financial Economics, March 2024, Vol. 153, 103778
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“Improving Sovereign Debt Restructurings”
with Maximiliano A. Dvorkin, Horacio Sapriza, and Emircan Yurdagul
Journal of Economic Dynamics & Control, June 2022, Vol. 139, No. June 2022, 104435, pp. 1
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“Financing Ventures”
with Jeremy Greenwood and Pengfei Han
International Economic Review, August, Vol. 63, No. 3, pp. 1021-1053
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“Why Doesn't Technology Flow from Rich to Poor Countries?”
https://doi.org/10.3982/ecta11150
with Harold L. Cole and Jeremy Greenwood
Econometrica, July 2016, Vol. 84, No. 4, pp. 1477-1521
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“Mortgage Defaults”
with Juan Carlos Hatchondo and Leonardo Martinez
Journal of Monetary Economics, November 2015, Vol. 76, pp. 173-190
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“Financing Development: The Role of Information Costs”
with Jeremy Greenwood and Cheng Wang
American Economic Review, September 2010, Vol. 100, No. 4, pp. 1875–91
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“Fiscal Policy and Default Risk in Emerging Markets”
with Gabriel Cuadra and Horacio Sapriza
Review of Economic Dynamics, April 2010, Vol. 13, No. 2, pp. 452-469
“Unemployment Insurance with a Hidden Labor Market”
with Fernando Alvarez-Parra
Journal of Monetary Economics, October 2009, Vol. 56, No. 7, pp. 954-67
“Uneven Consumption Growth in the COVID-19 Economic Recovery”
with Masataka Mori
Federal Reserve Bank of St. Louis Economic Synopses, 2024, No. 13
“Understanding the Recent Evolution of Auto Loans by Income Level”
with Masataka Mori
Federal Reserve Bank of St. Louis Economic Synopses, 2024, No. 12
“Deja Vu? The Recent Rise in Credit Card Debt Delinquencies”
with Olivia Wilkinson
Federal Reserve Bank of St. Louis The Regional Economist, Third Quarter 2023
“The Economic Impact of COVID-19 around the World”
with Fernando M. Martin and Olivia Wilkinson
Federal Reserve Bank of St. Louis Review, Second Quarter 2023
“External Shocks versus Domestic Policies in Emerging Markets”
with Emilio Espino, Julian Kozlowski, and Fernando M. Martin
Federal Reserve Bank of St. Louis Review, Second Quarter 2023
“An Elementary Model of VC Financing and Growth”
with Jeremy Greenwood, Pengfei Han, and Hiroshi Inokuma
Federal Reserve Bank of St. Louis Review, First Quarter 2023
“Tightening Monetary Policy and Patterns of Consumption”
with Olivia Wilkinson
Federal Reserve Bank of St. Louis The Regional Economist, First Quarter 2023
“The Role of Credit Scores in the Recent Rise in Credit Card Delinquency”
with Masataka Mori
Federal Reserve Bank of St. Louis Economic Synopses, 2023, No. 20
“On-Time Mortgage Payments Recover, Even in Financially Distressed Areas”
with Olivia Wilkinson
Federal Reserve Bank of St. Louis The Regional Economist, Second Quarter 2022
“Venture Capital: A Catalyst for Innovation and Growth”
with Jeremy Greenwood and Pengfei Han
Federal Reserve Bank of St. Louis Review, Second Quarter 2022
“Loan Evergreening: Recent Evidence from the U.S.”
https://doi.org/10.20955/es.2022.26
with Miguel Faria e Castro and Pascal Paul
Federal Reserve Bank of St. Louis Economic Synopses, 2022, No. 26
“The Relationship between Consumption Growth and Inflation”
On the Economy, December 29, 2022
“From Population Growth to TFP Growth” (PDF)
with Hiroshi Inokuma
Federal Reserve Bank of St. Louis Working Paper 2023-006E, May 2024
“An Elementary Model of VC Financing and Growth” (PDF)
with Jeremy Greenwood, Pengfei Han, and Hiroshi Inokuma
Federal Reserve Bank of St. Louis Working Paper 2022-031A, September 2022
“The Economic Impact of COVID-19 around the World” (PDF)
with Fernando M. Martin and Olivia Wilkinson
Federal Reserve Bank of St. Louis Working Paper 2022-030A, September 2022
“EBITDA Add-backs in Debt Contracting: A Step Too Far?” (PDF)
with Miguel Faria e Castro, Radhakrishnan Gopalan, Avantika Pal, and Vijay Yerramilli
Federal Reserve Bank of St. Louis Working Paper 2022-029A, September 2022
“Policy Rules and Large Crises in Emerging Markets” (PDF)
with Emilio Espino, Julian Kozlowski, and Fernando M. Martin
Federal Reserve Bank of St. Louis Working Paper 2022-018E, June 2024
“Endogenous Debt Maturity: Liquidity Risk vs. Default Risk” (PDF)
with Rodolfo E. Manuelli
Federal Reserve Bank of St. Louis Working Paper 2018-034B, October 2018
“Reconstructing the Great Recession” (PDF)
with Michele Boldrin, Carlos Garriga, and Adrian Peralta-Alva
Federal Reserve Bank of St. Louis Working Paper 2013-006C, February 2013
Juan M. Sánchez is a senior economic policy advisor in the Research division of the Federal Reserve Bank of St. Louis, which he joined in August 2010. His research focuses on macro-finance topics, emphasizing firm dynamics, economic growth, consumer finance, and sovereign default. He received his Ph.D. from the University of Rochester in 2008.
Sánchez has published papers in American Economic Review, Econometrica, Journal of Monetary Economics, Journal of Economic Theory, Journal of Financial Economics, Review of Financial Studies, International Economic Review, and Journal of International Economics, among others. Since July 2018, he has been associate editor of Journal of Economic Dynamics and Control. Since 2021, he has also been a St. Louis Fed Review co-editor.
Before joining the St. Louis Fed, he worked for two years as an economist at the Federal Reserve Bank of Richmond. He taught money and banking between 2013 and 2017 at Washington University in St. Louis; since 2018, he has taught quantitative macro theory at the graduate level there. Sánchez has also discussed his research on media outlets such as “Marketwatch,” CNBC, and New York Times.
