PDF version (August 2020)
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João Luiz Ayres Queiroz da Silva
Personal Data

​Address:
Research Department
Inter-American Development Bank
1300 New York Ave. NW
Washington, DC 20577

Telephone numbers:
Cell: +1 (612) 545-7936
Office: +1 (202) 623-2677

E-mail: joaoay@iadb.org

URL: www.joaoayres.com

​Citizenship: Brazil (U.S. permanent resident)
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​Research Interest

International Economics, Macroeconomics, and Public Finance.

​Education

  • ​Ph.D., Economics, University of Minnesota, 2017.
                Dissertation: "Essays in International Economics and Macroeconomics."
                Advisors: Timothy Kehoe (advisor) and Manuel Amador (co-advisor).
  • ​M.A., Economics, University of Minnesota, 2015.
  • ​D.Sc., Economics, Getulio Vargas Foundation (FGV/EPGE), 2011.
  • ​M.Sc., Economics, Getulio Vargas Foundation (FGV/EPGE), 2009.
  • B.Sc., Economics, University of Sao Paulo (FEA/USP), 2006.

Employment
​
  • 2022-present: ​Economics Senior Specialist, Research Department, Inter-American Development Bank (IDB).
  • 2017-2022: ​Economics Specialist, Research Department, Inter-American Development Bank (IDB).
  • 2013-2017: Research Analyst, Research Department, Federal Reserve Bank of Minneapolis.​
  • 2009-2011: Research Assistant, Getulio Vargas Foundation (EPGE/FGV), Rio de Janeiro-RJ, Brazil.​
  • 2003-2004: Intern, Fator Asset Management, Sao Paulo-SP, Brazil.
Visiting Positions

  • ​Visiting Researcher, Departamento de Estudos Económicos, Banco de Portugal, June 2017 - July 2017.
  • ​Visitor, Research Department, Federal Reserve Bank of New York, November 2009 - October 2010.
  • Visiting Scholar​, Department of Economics, Columbia University, November 2009 - October 2010.
  • Visiting Student​, Umeå University, January 2005 - June 2005.

​Fellowships, Honors, Grants
​
  • ​Grant for Visiting Researcher, Departamento de Estudos Económicos, Banco de Portugal, 2017.
  • ​Third Prize, Hardy Third Year Paper Competition, Department of Economics, University of Minnesota, 2014.
  • ​Distinguished Instructor, Department of Economics, University of Minnesota, Summer 2013.
  • Participant,  The Princeton Initiative: Macro, Money and Finance 2013, Princeton. Nominated by the Department of Economics of the University of Minnesota, and selected by the organizers, ​Summer 2013.
  • Mudgett Fellowship, Department of Economics, University of Minnesota, 2011-2012.
  • ​CNPq, Fellowship for Sandwich Doctorate, 2009-2010.
  • ​CAPES, Fellowship for Doctorate in Economics, 2008-2011.
  • ​CAPES, Fellowship for Masters in Economics, 2007-2008.

​Teaching Experience

  • ​Instructor, University of Minnesota. Instructor for undergraduate level course in Cost-Benefit Analysis, Summer 2013.
  • ​Teaching Assistant, University of Minnesota. Led recitation sections for graduate level course sequence in    Microeconomic Analysis, ​2012-2013.
  • ​Teaching Assistant, University of Minnesota. Led recitation sections for undergraduate level course in Principles of Microeconomics, Summer 2012.
  • ​Teaching Assistant, Getulio Vargas Foundation (EPGE/FGV). Led recitation sections in Corporate Finance for the Professional Masters Program in Finance and Business Economics, 2011.
  • Teaching Assistant, Getulio Vargas Foundation (EPGE/FGV). Led recitation sections for undergraduate level course sequence in Macroeconomics II, Risk Management, and Futures and Options, 2008-2009.

Peer Reviewed Publications​
​
  • "Firm Entry and Exit during Recessions," with Gajendran Raveendranathan. Review of Economic Dynamics, vol. 47, pp. 47-66, 2023. (previously circulated under the titles The Firm Dynamics of Business Cycles and Firm Exit during Recessions).
  • "Real Exchange Rates and Primary Commodity Prices," with Constantino Hevia and Juan Pablo Nicolini. Journal of International Economics, vol. 122, Article 103261, 2020.
  • "Sovereign Default: The Role of Expectations," with Gaston Navarro, Juan Pablo Nicolini, and Pedro Teles. Journal of Economic Theory, vol. 175, pp. 803-812, 2018.

Book Chapters

  • "The Monetary and Fiscal History of Brazil, 1960-2016" with Marcio Garcia, Diogo Guillén, and Patrick Kehoe. Chapter in the book The Monetary and Fiscal History of Latin America, 1960-2017, eds. Timothy J. Kehoe and Juan Pablo Nicolini, University of Minnesota Press, MN, 2022.

​Working Papers​​​

  • "Self-Fulfilling Debt Crises with Long Stagnations," with Gaston Navarro, Juan Pablo Nicolini, and Pedro Teles.​ Submitted.
  • "Multiplicity in Sovereign Default Models: Calvo Meets Cole-Kehoe," with Radek Paluszynski.
  • "Mussa meets Backus-Smith: The Role of Primary Commodities," with Constantino Hevia and Juan Pablo Nicolini. Submitted. (previously circulated under the title Real Exchange Rates and Primary Commodity Prices: Mussa meets Backus-Smith)​
  • ​"Firm Knowledge and International Real Business Cycles." (previously circulated under the title Knowledge Flows and Dark Matter)

​Work in Progress

  • "Price Setting when Expectations are Unanchored," with Daniel Abib, Marco Bonomo, Carlos Carvalho, Stefano Eusepi, Silvia Matos, and Marina Perrupato.
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Presentations

  • 2023: Annual Meeting of the Society for Economic Dynamics (SED), CEBRA Workshop for Commodities and Macroeconomics, Federal Reserve Bank of Chicago, International Monetary Fund (IMF), Federal Reserve Board (scheduled), International Economic Association World Congress (scheduled).
  • 2022: Central Bank of Brazil.
  • 2021: NBER Conference on International Finance and Macroeconomics (IFM-Spring), FEA-RP/USP, Universidad de los Andes, 2nd International Macro/Finance and Sovereign Debt Workshop, York University.
  • 2019: North American Winter Meeting of the Econometric Society (NAWM), University of Houston, PUC-Rio, FGV/EPGE, FGV/IBRE, Midwest Macroeconomic Meetings, Annual Meeting of the Society for Economic Dynamics (SED), Society for the Advancement of Economic Theory (SAET) Conference, Latin American Meeting of the Econometric Society (LAMES).
  • 2018: European Summer Meeting of the Econometric Society (ESEM), LuBraMacro, Latin American Meeting of the Econometric Society (LAMES), MFRI/IADB Monetary and Fiscal History of Latin America Conference.
  • 2017: Inter-American Development Bank (IADB), Temple University, PUC-Rio, Insper, Midwest Economic Association (MEA) Annual Meeting, Society for the Advancement of Economic Theory (SAET) Conference, Banco de Portugal, Portuguese Economic Journal (PEJ) Annual Meeting, Latin American Meeting of the Econometric Society (LAMES).
  • 2016: Society for the Advancement of Economic Theory (SAET) Conference.
  • ​2015: Federal Reserve Bank of Minneapolis, Midwest Economic Association (MEA) Annual Meeting.
  • ​2009: Latin American and Caribbean Economic Association (LACEA) Annual Meeting.
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Discussions

  • "Self-Fulfilling Debt Crises, Revisited," by Mark Aguiar, Satyajit Chatterjee, Harold Cole, and Zachary Stangebye, Sovereign Debt Workshop, Richmond Fed, August 2020.
  • "Exchange Rate Disconnect and Commodity Prices," by Aleksandra Babii and Hussein Bidawi.
    Washington Area International Finance Symposium, IADB, September 2022.

Committee Member

  • 2017: Meeting of the Brazilian Econometric Society.
  • 2020: XXIII Workshop in International Economics and Finance (postponed due to COVID 19).

Event Organizer

  • MFRI/IADB Monetary and Fiscal History of Latin America Conference.

​Referee

Brazilian Review of Econometrics; Cuadernos Economicos; Economic Journal; Economic Theory; Journal of Money, Credit and Banking; Journal of Economics and Business; Journal of International Economics; North American Journal of Economics and Finance; Quantitative Economics; Review of Economic Dynamics; Review of Economic Studies; Revista Brasileira de Economia.

Computer Skills

Fortran, MATLAB, Stata, LaTex.

Languages

English (fluent), Portuguese (native), Spanish (intermediate level).