- Macroeconomics, Information, International, Labor
Previously circulated as “Quit Turbulence and Unemployment”
R&R at Economic Journal
R&R at the Journal of Political Economy
Short Bio and Picture
Isaac Baley earned a PhD in Economics from New York University in 2015. Currently, he is an Assistant Professor of Economics at UPF, an Associate Researcher at Centre de Recerca en Economia Internacional (CREi), and an Affiliated Professor at the Barcelona School of Economics (BSE). From 2006-2009, he worked as economic advisor at the Mexican Ministry of Economics and Ministry of Finance.
Isaac studies how agents behave in environments with microeconomic frictions(imperfect information, matching, and adjustment costs) and the implications of their choices for macroeconomic outcomes. His work includes the effectiveness of monetary policy when firms set prices under uncertainty; global policy uncertainty and its effects on international trade; business cycles driven by mismatch between workers and their occupation; the role of human capital accumulation and self-insurance for labor market dynamics; and the propagation of aggregate shocks in economies with lumpy adjustment.
Isaac’s work has been published in American Economic Journal: Macroeconomics and Journal of International Economics, a conditional acceptance at Econometrica, and revisions at The Journal of Political Economy and The Economic Journal. He has been awarded with several competitive grants, such as the Marie Curie Individual Fellowship from the European Commission, the British Academy Visiting Fellowship, and “La Caixa” Research Grant on Socioeconomic Wellbeing.
- “Firm Uncertainty Cycles and the Propagation of Nominal Shocks” (with Andres Blanco), American Economic Journal: Macroeconomics, Volume 11, Issue 1, January 2019, pp. 276-337.
- “Can Global Uncertainty Promote International Trade?” (with Laura Velkamp and Michael Waugh), Journal of International Economics (Vol. 126, Sep 2020)
- “Aggregate Dynamics in Lumpy Economies” (with Andres Blanco), conditionally accepted at Econometrica.
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