Course Description

Fernando Broner earned his PhD in Economics at the Massachusetts Institute of Technology (MIT) in 2000. Currently, he is a Senior Researcher at the Center for Research in International Economics (CREI) and an Adjunct Professor at Universitat Pompeu Fabra (UPF). He is also Co-Director of the MSc. in International Trade, Finance and Development at the Barcelona Graduate School of Economics and a Research Fellow at CEPR. He has been Visiting Professor at MIT, advisor at the Bank of Spain’s Division of International Economics, Visiting Scholar at the IMF and World Bank, and Assistant Professor at the University of Maryland. He has served as an associate editor of the Journal of International Economics. He was awarded a European Research Council Starting Grant in 2010. His research interests include international economics, finance, and macroeconomics.

Selected publications:

• “Sovereign Debt Markets in Turbulent Times: Creditor Discrimination and Crowding-Out Effects”, (with A. Erce, A. Martin, and J. Ventura), Journal of Monetary Economics, forthcoming.
•  “Why do Emerging Economies Borrow Short Term?” (with G. Lorenzoni and S. Schmukler), Journal of the European Economic Association,  11(S1), 67-100, 2013.
• “Globalization and Risk Sharing”, (with J. Ventura), Review of Economic Studies, 78(1), 49-82, 2011.
• “Sovereign Risk and Secondary Markets”, (with J. Ventura and A. Martin), American Economic Review, 100(4), 1523-1555, 2010.
• “Discrete Devaluations and Multiple Equilibria in a First Generation Model of Currency Crises,” Journal of Monetary Economics, 55(3), 592-605, 2008.
• “When in Peril Retrench: Testing the Portfolio Channel of Contagion,” (with G. Gelos and C. Reinhart), Journal of International Economics, 69(1), 203-230, 2006.

Andrea Caggese earned his PhD in Economics at London School of Economics and Political Science in 2002. Currently he is an Associate Professor at Universitat Pompeu Fabra (UPF), an Affiliated Professor at Barcelona Graduate School of Economics, and a Research Associate at the Center for Research in International Economics (CREI).  He is also the Director of the Master of Research in Economics, Finance and Management at the Department of Economics and Business at Universitat Pompeu Fabra (UPF). His work has appeared in the Journal of Financial Economics,the Journal of Monetary Economics, the Economic Journal and the Review of Economic Dynamics.His research interests include finance, investment theory and macroeconomics.

Selected publications:

• “Financing Constraints, Firm Dynamics, Export Decisions, and Aggregate Productivity”, (with V. Cuñat) Review of Economic Dynamics, 16(1), 177-193, 2013.
• “Entrepreneurial Risk, Investment and Innovation”, Journal of Financial Economics, 106(2), 287-307, 2012
• “Financing Constraints and Fixed Term Employment Contracts”, (with V. Cuñat), Economic Journal, 118 (533), 2013-2046, 2008.
• “Testing Financing Constraints on Firm Investment Using Variable Capital”, Journal of Financial Economics, 86, 683-723, 2007.
• “Financing Constraints, Irreversibility and Investment Dynamics”, Journal of Monetary Economics, 54, 2102-2130, 2007.

Julian di Giovanni earned his PhD in Economics at the University of California, Berkeley in 2004. Currently he is an Associate Professor at Universitat Pompeu Fabra (UPF), an Affiliated Professor at Barcelona Graduate School of Economics, a Research Associate at the Center for Research in International Economics (CREI), and a Research Fellow at the CEPR. He worked for the Research Department of the International Monetary Fund from 2004-2013, and was a Visiting Assistant Professor at the University of Toronto in 2011-2012. He was recently awarded an International Incoming Fellowship (European Research Council Marie Curie Actions). His research interests include international economics and macroeconomics.

Selected Publications:

• “The Global Welfare Impact of China: Trade Integration and Technological Change,” (with A. Levchenko and J. Zhang), American Economic Journal: Macroeconomics, forthcoming.
•  “Firm Entry, Trade, and Welfare in Zipf’s World,” (with A. Levchenko), Journal of International Economics, 89(2), 283-296, 2013.
• “Country Size, International Trade and Aggregate Fluctuations in Granular Economies,” (with A. Levchenko), Journal of Political Economy, 120(6), 1083-1132, 2012.
• “Power Laws in Firm Size and Openness to Trade: Measurement and Implications,” (with A. Levchenko and R. Rancière), Journal of International Economic, 85(1), 42-52, 2011.
• “Putting the Parts Together: Trade, Vertical Linkages, and Business Cycle Comovement,” (with A. Levchenko), American Economic Journal: Macroeconomics, 2(2), 95-124, 2010.
• “Trade Openness and Volatility,” (with A. Levchenko), Review of Economics and Statistics, 91(3), 558-585, 2009.

Jordi Galí earned his PhD in Economics at the Massachusetts Institute of Technology (MIT) in 1989. Currently he is Director and Senior Researcher at the Center for Research in International Economics (CREI), Professor at Universitat Pompeu Fabra and Research Professor at the Barcelona Graduate School of Economics. He has held academic positions at New York University and Columbia University. He has been a Visiting Professor at MIT. He is a Research Fellow at the CEPR, a Research Associate at the NBER, and a Fellow of the Econometric Society. He has served as a co-editor of the Journal of the European Economic Association and co-director of the CEPR International Macroeconomics Programme. In 2012 he served as President of the European Economic Association. Among other awards, Galí received the National Research Prize from the Government of Catalonia in 2011, and was co-recipient of the 2005 Yrjö Jahnsson Award.  His research interests include macroeconomics and monetary theory.

Selected Publications:

• “Monetary Policy and Rational Asset Price Bubbles”, American Economic Review,forthcoming
• Unemployment Fluctuations and Stabilization Policies: A New Keynesian Perspective, Cambridge (MA): The MIT Press, 2011.
• Monetary Policy, Inflation and the Business Cycle: An Introduction to the New Keynesian Framework, Princeton (NJ): Princeton University Press, 2008.
• “Labor Markets and Monetary Policy: A New Keynesian Model with Unemployment”, (with O. Blanchard), American Economic Journal: Macroeconomics, 2(2), 1-30, 2010.
• “Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations?” American Economic Review, 249-271, 1999.
• “Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory”, (with R. Clarida and M. Gertler), Quarterly Journal of Economics, 115(1), 147-180, 2000.

Gino Gancia earned his PhD in Economics at the Institute for International Economic Studies (Stockholm University) in 2003. Currently, he is a Senior Researcher at the Center for Research in International Economics (CREI), Affiliated Professor at the Barcelona Graduate School of Economics and a Research Fellow at the CEPR. He is Member of the Editorial Board of the Review of Economic Studies and associate editor of the Journal of the European Economic Association and the Economic Journal. He has been a Visiting Scholar at MIT during 2001-2003 and has been awarded the 2009 Excellence Award in Global Economic Affairs (Kiel Institute for the World Economy) and the 2004 Young Economist Award (European Economic Association). His research interests include international trade theory, economic growth and macroeconomics.

Selected publications:

• “Competing Engines of Growth: Innovation and Standardization”, (with D. Acemoglu and F. Zilibotti), Journal of Economic Theory, 147, 570-601, 2012.

• “Trade, Markup Heterogeneity and Misallocations”, (with P. Epifani), Journal of International Economics, 83, 1-13, 2011.
• “Openness, Government Size and the Terms of Trade”, (with P. Epifani),  Review of Economic Studies, 76, 629-668, 2009.
• “The Skill Bias of World Trade”, (with P. Epifani),  Economic Journal, 118, 927-960, 2008.
• “North-South Trade and Directed Technical Change”, (with A. Bonfiglioli), Journal of International Economics, 76, 276-296, 2008.
• “Increasing Returns, Imperfect Competition and Factor Prices”, (with P. Epifani),  Review of Economics and Statistics, 88, 583-598, 2006.

Alberto Martin earned his PhD in Economics at Columbia University in 2005. Currently, he is a Senior Researcher at the Center for Research in International Economics (CREI), an Adjunct Professor at Universitat Pompeu Fabra (UPF) and a Research Professor at the Barcelona Graduate School of Economics. He is also Research Affiliate at the CEPR. He has been a Visiting Scholar at the International Monetary Fund, a consultant for the United Nations Development Programme, and an economist in Argentina’s Ministry of Economics. He has received the Lamfalussy Research Fellowship (European Central Bank) and the Fulbright Fellowship. His work has appeared in theAmerican Economic Review, the Journal of Economic Theory and the Journal of International Economics, among others. His research interests include macroeconomics, finance and international economics.

Selected publications:

• “International Capital Flows and Credit Market Imperfections: A Tale of Two Frictions”, (with F.Taddei), Journal of International Economics, 89(2), 441-452, 2013.
• “Understanding Bubbly Episodes”, (with V. Carvalho and J. Ventura), American Economic Review P&P, 102(3), 95-100, 2012.
•  “Economic Growth with Bubbles”, (with J. Ventura), American Economic Review, 102(6), 3033-3058, 2012.
• “Theoretical Notes on Bubbles and the Current Crisis”, (with J. Ventura), IMF Economic Review, 59(1), 6-40, 2011.
• “Sovereign Risk and Secondary Markets”, (with F. Broner and J. Ventura), American Economic Review, 100(4), 1523-1555, 2010.
• “A Model of Collateral, Investment, and Adverse Selection”, Journal of Economic Theory, 144(4), 1572-1588, 2009.

Barbara Rossi earned her PhD in Economics at Princeton University in 2001. Currently she is an ICREA Professor at Universitat Pompeu Fabra (UPF), an Affiliated Professor at Barcelona Graduate School of Economics, and a Research Associate at the Center for Research in International Economics (CREI). She has held an academic tenured position at Duke University and visiting positions at Berkeley University, UCSD and the Philadelphia Fed, among others. She is a Research Fellow at the CEPR and a member of the CEPR Business Cycle Committee. She is currently an associate editor for the Journal of Business and Economic Statistics, the Journal of Economic Dynamics and Control, and the Journal of Applied Econometrics. She has been awarded two National Science Foundation grants.
Selected Publications:

• “Advances in Forecasting under Model Instability”, in G. Elliott and A. Timmermann (eds.),Handbook of Forecasting, Volume 2, Amsterdam: Elsevier, forthcoming.
• “Forecasting in Macroeconomics”, (with R. Giacomini), in N. Hashimzade and M. Thornton (eds.), Handbook of Research Methods and Applications in Empirical Macroeconomics,Cheltenham (UK): Edward Elgar Publishing Ltd, forthcoming.
• “Can Exchange Rates Forecast Commodity Prices?”, (with Y. Chen and K. Rogoff),Quarterly Journal of Economics, 125(3), 1145-1194, 2010.
• “Out-of-Sample Forecast Tests Robust to Choice of Window Size”, (with A. Inoue), Journal of Business and Economics Statistics, 30(3), 432-453, 2012.
• “Detecting and Predicting Forecast Breakdowns”, (with R. Giacomini), Review of Economic Studies, 76(2), 669-705, 2009.

Xavier Sala-i-Martin earned his PhD in Economics at Harvard University in 1990. Currently he is Professor in the Department of Economics at Columbia University, and a Visiting Professor at Universitat Pompeu Fabra (UPF). He has been an Associate Professor at the Department of Economics at Yale University and a Visiting Professor at Harvard University. He has also taught at Universitat Pompeu Fabra, Harvard University, New York University, Yale University and the International Monetary Fund, among other places. He is senior economic adviser to the World Economic Forum (WEF), author of the Global Competitiveness Report of the WEF, Research Associate at the NBER and has been consultant for the World Bank and the International Monetary Fund. In 2006 he was the President of FC Barcelona. His research interests include economic growth, macroeconomics, public finance and social security, health and population economics, and monetary economics.

Selected publications:

• “The World Distribution of Income: Falling Inequality and Convergence, Period”, Quarterly Journal of Economics, 121(2), 351-397, 2006.
• “Determinants of Long-Term Growth: A Bayesian Average of Classical Estimates (Bace) Approach”, (with G. Doppelhoffer and R. Miller), American Economic Review, 94(4), 813-835, 2004.
• “The Economic Tragedy of the XXth Century: Growth in Africa”, (with E.V. Artadi), inAfrican Competitiveness Report of the World Economic Forum, 2003.
• Economic Growth, (with R. Barro), 2nd Edition The MIT Press, (Cambridge, MA), 2003.
• “Health Investment Complementarities under Competing Risks”, (with W. Dow and T. Philipson), American Economic Review, 89(5), 1358-71, 1999.

Jaume Ventura earned his PhD in Economics at Harvard University in 1995. Currently he is a Senior Researcher at the Center for Research in International Economics (CREI), a Research Professor at the Barcelona Graduate School of Economics and a Professor at Universitat Pompeu Fabra (UPF). Previously, he has held academic positions at the MIT and the University of Chicago. He has served as a co-director of the International Macroeconomics Programme of the CEPR and also as an editor of the Economic Journal. He is a Research Fellow at the CEPR, a Research Associate at the NBER, and a Fellow of the European Economic Association. He has served as a consultant to the IMF, the World Bank and the Inter-American Development Bank. His research interests include international economics and macroeconomics.

Selected publications:

• “Economic Growth with Bubbles”, (with A. Martin), American Economic Review, 102(6), 3033-3058, 2012.
• “Bubbles and Capital Flows”, Journal of Economic Theory, 147(2), 738-758, 2012.
• “Theoretical Notes on Bubbles and the Current Crisis”, (with A. Martin), IMF Economic Review, 59(1), 6-40, 2011.
•  “Sovereign Risk and Secondary Markets”, (with F. Broner and A. Martin), American Economic Review, 100(4), 1523-2555, 2010.
• “Comparative Advantage and the Cross-section of Business Cycles”, (with A. Kraay),Journal of the European Economic Association, 5(6), 1300-1333, 2007.
•  “The Dot-Com Bubble, the Bush Deficits, and the US Current Account”, (with A. Kraay), inG7 Current Account Imbalances: Sustainability and Adjustment, R. Clarida (ed.), University of Chicago Press, 2007.

Hans-Joachim Voth earned his PhD in Economics at Nuffield College, Oxford in 1996. He currently holds the Chair in Development and Emerging Markets at the University of Zurich. He is an Affiliate of the UBS Center for Economics in Society, a CEPR Research Fellow, and an associate editor of the Quarterly Journal of Economics. He has won several international prizes for his dissertation and the Leverhulme Prize for outstanding researchers under the age of 35. His work has appeared in the Quarterly Journal of Economics,  the American Economic Review,  the Review of Economic Studies,  the European Economic Review,  the Economic Journal,  the Journal of Economic History,  Explorations in Economic History, and in books with OUP and PUP. He has held visiting appointments at Stanford, MIT, Princeton and Stern Business School (NYU). A former consultant at McKinsey & Co., he has also acted as an advisor to the German Finance Ministry’s Working Group on Financial Market Reform; to the CEO of the German Stock Exchange; and to the German Trade Unions Movement (DGB).

Selected publications:

• Lending to the Borrower from Hell: Debt and Default in the Age of Philip II, 1556-1598, (with M. Drelichman), Princeton University Press, 2014.
• “How the West ‘Invented’ Fertility Restriction”, American Economic Review, forthcoming.
• Prometheus Shackled: Goldsmith Banks and England’s Financial Revolution after 1700, (with P. Temin), Oxford/New York: Oxford University Press, 2013.
• “Persecution Perpetuated: The Medieval Origins of Anti-Semitic Violence in Nazi Germany”, (with N. Voigtländer), Quarterly Journal of Economics, 127(3), 1339-1392, 2012.
• “Betting on Hitler: The Value of Political Connections in Nazi Germany”, (with T. Ferguson),Quarterly Journal of Economics, 123(1), 101-137, 2008.
• “Riding the South Sea Bubble”, (with P. Temin), American Economic Review, 94(5), 1654-1668, 2004.

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Barcelona receives thousands of visitors, especially in summer. Please, make your reservations directly as soon as possible.

Residence Halls

Residence Hall for Researchers (comfort)
C/Hospital, 64
08001-Barcelona
Tel. (+34) 93 443 8610
Fax. (+34) 93 442 8202
investigadors@resa.es
http://www.resa.es/

 

Residència Universitària “La Ciutadella”
Pg. Pujades, 33-37
Tel. (+34) 902444447
resa@resa.es
http://www.resa.es

 

Residència Universitària Campus del Mar
Passeig Salvat Papasseit, 4
08003 Barcelona
Tel. (+34) 933 904 000
http://www.resa.es

 

Residencia Melondistrict

c/Sancho de Ávila 22

Tel. (+34) 932178812

http://www.melondistrict.com

 

Residencias Juevenes-El Campus
C/Mallorca, 191, Pral.
jmpresi@arrakis.es
http://www.arrakis.es/~jmpresi/index.htm

 

APIMEC Residencia Universitaria
C/Bruc, 136
residencia.apimec@caixaterrasa.com
http://www.habitatgejove.com/arrel_eg/index_i.html

 

Residencia Universitaria Sarrià
Calle Esports, 1-7.
08017 Barcelona
Tel.  (+34) 93 206 55 40
Fax. (+34) 93 204 08 52
campus@residenciasarria.com
www.residenciasarria.com

 

 

BARCELONAUTA
C/Sardenya, 326-328 entol. 2
bcnauta@comb.es

Hotels

Hotel H10 Marina Barcelona (4*)
Address: Av Bogatell, 64-68
Phone: 933097917 / 933003310 (fax)
Web: http://www.h10.es
E-mail: h10.marina.barcelona@h10.es

 

Hotel Icaria Barcelona (4*)
Address: Av Icària, 195-197
Phone: 932218200 / 932212458 (fax)
Web: http://www.sbhotels.es
E-mail: hotel@icaria.barcelona

 

Hotel Silken Diagonal (4*)
Address: Av. Diagonal, 205
Phone: 934 895 300 / 934 895 309 (fax)
Web: http://www.hoteles-silken.com/hoteles/index2.php?idhotel=19
E-mail: hotel.diagonalbcn@hoteles-silken.com

 

Hotel Glòries (3*)
Address: Padilla, 173 (with Gran Via)
Phone: 932 650 808
Web: http://www.hotelglories.com/
E-mail: reservas@hotelglories.com

 

Hotel Park Hotel (3*)
Address: Av Marquès de l’Argentera, 11
Phone: 933196000 / 933194519 (fax)
E-mail: parkhotel@parkhotelbarcelona.com

 

Hotel Pere IV (3*)
Address: C Pallars, 128*130
Phone: 933 209 650 / 933 009 060 (fax)
Web: http://www.euro-mar.com
E-mail: hotelpereiv@euro-mar.com

 

Hotel Oasis II (2*)
Address: Pla Palau, 17
Telèfon: 933194396 / 933104874 (fax)

 

Hotel Lyon (1*)
Address: C General Castaños, 6
Phone: 933194360 / 933194431 (fax)
Web: http://www.gargallo-hotels.com
E-mail: lyon@gargallo-hotels.com

Useful Links

• http://www.bcu.cat
• http://www.hotelsbarcelona.org/
• http://www.apartmentsapart.com/barcelona_hotels/index.htm
• http://www.barcelona-on-line.es/eng/index.asp
• http://www.barcelonahotels.es/
• http://www.hotel-barcelona.com/
• http://www.barcelona.com/reservas/
• http://www.hotelsearch.com
• http://www.apartmentbarcelona.com/
• http://www.flatsinbcn.com/
• http://www.destinationbcn.com/
• http://apartmentbcn.blogspot.com/
• http://www.barcelonaridershostel.com/

How to get to the city from the airport?

Please visit: Barcelona Tourism (then have a look at “planning your journey”)

There are several ways:

• by bus: Aerobus. This bus takes you to and from the airport every 15 minutes and stops at Estació de Sants, Plaça Espanya, Plaça Catalunya i Passeig de Gràcia. A ticket costs € 5.90
• by bus: 106. This bus takes you only to Plaça Espanya. A ticket costs €2.00
• by train: RENFE. Trains depart every 30 minutes and stop at Barcelona Sants, Passeig de Gràcia and Estació de França
• by taxi. A taxi ride can cost from € 30 to 35 depending on the day, time, etc.
• by rental car

Information about transportation from the Airport to Barcelona
How to get to the UPF?

UPF location map (Ciutadella campus)
Visit Barcelona Transportation

How to get to CREI (Universitat Pompeu Fabra) from the nearest metro station?

      The nearest metro station is “Ciutadella-Vila Olímpica” and belongs to L4 line (yellow one). When you get the street (Ramon Trias Fargas) you just have to walk up and you will find the university on your left.

For further information you can visit:

• http://www.bcn.es (Barcelona)
• http://www.softguides.com/barcelona/index.html (Barcelona)
• http://www.red2000.com/spain/barcelon/index.html (Barcelona)
• http://www.aena.es (Spanish airports)

Travelers should remain alert to their personal security and exercise caution. We suggest that travelers carry limited cash, only one credit card, and a copy of their passport; leaving extra cash, extra credit cards, passports and personal documents in a safe location. When carrying documents, credit cards, or cash, we recommend that you secure them in a hard-to-reach place and not carry all valuables together in a purse or backpack.

In the unfortunate event that you lose your passport, or are the victim of a passport theft, the Embassy or Consulate will only be able to issue a replacement during regular business hours, unless it is a life or death emergency.

Thieves often work in teams of two or more people. In many cases, one person distracts a victim while the accomplices perform the robbery. For example, someone might wave a map in your face and ask for directions, ”inadvertently” spill something on you, or help you clean-up bird droppings thrown on you by a third unseen accomplice. While your attention is diverted, an accomplice makes off with your valuables. Thieves may drop coins or keys at your feet to distract you and try to take your belongings while you are trying to help. Attacks are sometimes initiated from behind, with the victim being grabbed around the neck and choked by one assailant while others rifle through or grab the belongings. A group of assailants may surround the victim in a crowded popular tourist area or on public transportation, and only after the group has departed does the person discover he/she has been robbed. Purse snatchers may grab purses or wallets and run away, or immediately pass the stolen item to an accomplice. A passenger on a passing motorcycle sometimes robs pedestrians. There have been reports of thieves posing as plainclothes police officers, beckoning to pedestrians from cars and sometimes confronting them on the street asking for documents, or to inspect their cash for counterfeit bills, which they ultimately confiscate as “evidence.” The U.S. Embassy in Madrid has received reports of cars on limited access motorways being pulled over by supposed unmarked police cars. The Spanish police do not operate in this fashion. We encourage U.S. citizens to ask for a uniformed law enforcement officer if approached.

Theft from vehicles is also common. “Good Samaritan” scams are unfortunately common, where a passing car or helpful stranger will attempt to divert the driver’s attention by indicating there is a flat tire or mechanical problem. When the driver stops to check the vehicle, the “Good Samaritan” will appear to help the driver and passengers while the accomplice steals from the unlocked car. Drivers should be cautious about accepting help from anyone other than a uniformed Spanish police officer or Civil Guard. Items high in value like luggage, cameras, laptop computers, or briefcases are often stolen from cars. We recommend that travelers not leave valuables in parked cars, and keep doors locked, windows rolled up, and valuables out of sight when driving.

While the incidence of sexual assault is statistically very low, attacks do occur. We recommend that U.S. citizens remain aware of their surroundings at all times, and travel with a companion if possible, especially at night. Spanish authorities warn of the availability of so-called “date-rape” drugs and other drugs, including GBH and liquid ecstasy. U.S. citizens should not lower their personal security awareness because they are on vacation.