Mark Aguiar

updated on 2021-12-21

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maguiar@princeton.edu
http://markaguiar.com

Department of Economics
Princeton University
Princeton, NJ 08544

Employment

  • Walker Professor of Economics and International Finance, Princeton University, 2015-present

  • Professor of Economics, Princeton University, 2011-2015

  • Professor of Economics, University of Rochester, 2009-2011

  • Associate Professor of Economics (with tenure), University of Rochester, 2006-2009

  • Federal Reserve Bank of Boston, Senior Economist, 2004-2006

  • Visiting Assistant Professor of Economics, Massachusetts Institute of Technology, Spring 2005 and Spring 2006

  • Visiting Assistant Professor of Economics, Indian School of Business, Summer 2004

  • University of Chicago, GSB, Assistant Professor of Economics, 1999-2004

  • Department of State, Foreign Service Officer, 1989-1995. Represented the United States in embassies in Seoul, Korea, and Beijing, China, as well as served in the Office of Japanese Affairs in Washington, DC.

Teaching and Research Fields

Macroeconomics and International Economics

Education

  • Ph.D., Massachusetts Institute of Technology, Economics, 1999.

  • B.A., Brown University, magna cum laude and with honors in History and Chinese, 1988.

  • Non-degree: Nankai University, Tianjin, China, 1987, semester of Chinese language.

  • Foreign Service Institute, Chinese and Korean languages.

Professional Activities and Awards

  • Director, International Economics Section, Princeton University (2021-present)

  • Co-editor, American Economic Review, (2014-2017)

  • Fellow of the Econometric Society

  • National Bureau of Economic Research, Research Associate (EFG and IFM)

  • Board of Editors, American Economic Review (2012-2013)

  • Associate Editor, Review of Economic Dynamics (2008-2011)

  • Board of Editors, American Economic Journal: Macroeconomics (2007-2011)

  • Advisory Board, Carnegie-NYU-Rochester Conference on Public Policy (2010-present)

  • NBER Macroeconomics Annual Advisory Board (2019-present)

  • International Growth Centre Grant for “The Political Economic of Sovereign Debt Overhang.”

  • Social Security Administration Research Grant for *Time, Expenditure, and Retirement Decisions *

  • TIAA-CREF Paul A. Samuelson Award 2006

  • Sloan Foundation Doctoral Dissertation Fellowship, 1998-1999.

  • Research Fellowship, International Finance Division, Board of Governors of the Federal Reserve System, 1998

  • Truman Scholar, 1987-88, 1995-96.

Books

  • Aguiar, Mark and Manuel Amador: The Economics of Sovereign Debt and Default

Journal Publications

  • Aguiar, Mark, Satyajit Chatterjee, Harold Cole, and Zachary Stangebye (2019): “Self-Fulfilling Debt Crises, Revisited,” Accepted at Journal of Political Economy.

  • Aguiar, Mark, Mark Bils, Kerwin Kofi Charles, and Erik Hurst (2021): “Leisure Luxuries and the Labor Supply of Young Men,” Journal of Political Economy.

  • Aguiar, Mark and Manuel Amador (2020): “Self-fulfilling Debt Dilution: Maturity and Multiplicity in Debt Models,” American Economic Review, 110 (9): 2783-2818.

  • Aguiar, Mark, Manuel Amador, and Stelios Fourakis (2020): “On the Welfare Losses from External Sovereign Borrowing,” IMF Economic Review, 68(1): 163-194.

  • Aguiar, Mark, and Manuel Amador (2019): “A Contraction for Sovereign Debt Models,” Journal of Economic Theory, 183: 842-875.

  • Aguiar, Mark, Manuel Amador, Hugo Hopenhayn and Ivan Werning (2019): “Take the Short Route: Equilibrium Default and Debt Maturity,” Econometrica, 87(2): 423-462.

  • Aguiar, Mark, and Manuel Amador (2016): “Fiscal Policy in Debt Constrained Economies,” Journal of Economic Theory, 161: 37-75.

  • Aguiar, Mark, Manuel Amador, Emmanuel Farhi and Gita Gopinath (2015): “Coordination and Crisis in Monetary Unions,” The Quarterly Journal of Economics, 130(4): 1727-1779.

  • Aguiar, Mark, and Mark Bils (2015): “Has Consumption Inequality Mirrored Income Inequality,” American Economic Review 105(9): 2725-2756

  • Aguiar, Mark and Erik Hurst (2013): “Deconstructing Life Cycle Expenditure,” Journal of Political Economy, 121(3): 437-492.

  • Aguiar, Mark and Erik Hurst and Loukas Karabarbounis (2013): “Time Use during the Great Recession,” American Economic Review, 103(5): 1664-96.

  • Aguiar, Mark and Erik Hurst and Loukas Karabarbounis (2012): “Recent Developments in the Economics of Time Use,” Annual Review of Economics, 4: 373-397.

  • Aguiar, Mark, and Manuel Amador (2011): “Growth in the Shadow of Expropriation,” The Quarterly Journal of Economics, 126(2): 651-697.

  • Aguiar, Mark, Manuel Amador, and Gita Gopinath (2009): “Investment Cycles and Sovereign Debt Overhang,” Review of Economic Studies, 76(1): 1-31.

  • Aguiar, Mark and Erik Hurst (2007): “Measuring Trends in Leisure: The Allocation of Time Over Five Decades,” Quarterly Journal of Economics, 122(3): 969-1006.

  • Aguiar, Mark and Gita Gopinath (2007): “Emerging Market Business Cycles: The Cycle is the Trend,” Journal of Political Economy, 115(1): 69-102

  • Aguiar, Mark and Erik Hurst (2007): “Life-Cycle Prices and Production,” American Economic Review, 97(5): 1533-1559.

  • Aguiar, Mark and Fernando Broner (2006): “Determining Underlying Macroeconomic Fundamentals during Emerging Market Crises: Are conditions as bad as they seem?” Journal of Monetary Economics, 53(4): 699-724.

  • Aguiar, Mark and Gita Gopinath (2006): “Defaultable Debt, Interest Rates, and the Current Account,” Journal of International Economics, 69(1): 64-83.

  • Aguiar, Mark, and Gita Gopinath (2005): “Fire-Sale FDI and Liquidity Crises,” Review of Economics and Statistics, 87(3): 439-452.

  • Aguiar, Mark (2005): “Investment, Devaluation, and Foreign Currency Exposure: The Case of Mexico,” Journal of Development Economics, 78(1): 95-113.

  • Aguiar, Mark, and Eirk Hurst (2005): “Consumption versus Expenditure,” Journal of Political Economy, 113(5): 919-948.

Handbook Chapters

  • Aguiar, Mark and Erik Hurst (2016): “The Macroeconomics of Time Allocation,” Handbook of Macroeconomics Volume 2.

  • Aguiar, Mark, Satyajit Chatterjee, Harold Cole, and Zachary Stangebye (2016): “Quantitative Models of Sovereign Debt Crises,” Handbook of Macroeconomics Volume 2.

  • Aguiar, Mark and Manuel Amador (2014): ”Sovereign Debt,” Handbook of International Economics, Vol 4, North-Holland: 647-87.

Conference Volumes

  • Aguiar, Mark, Manuel Amador, Emmanuel Farhi and Gita Gopinath (2014): “Sovereign Debt Booms in Monetary Unions,” American Economic Review: Papers and Proceedings, 104(5).

  • Aguiar, Mark and Erik Hurst and Loukas Karabarbounis (2013): “The Life-Cycle Profile of Time Spent on Job Search.” American Economic Review: Papers and Proceedings, 111-116.

  • Aguiar, Mark, Manuel Amador, and Gita Gopinath (2009): “Expropriation Dynamics,” American Economic Review: Papers and Proceedings, 99(2): 473-479.

  • Aguiar, Mark and Gita Gopinath (2006): “Emerging Market Fluctuations: The Role of Interest Rate and Productivity Shocks,” Tenth Annual Conference on the Central Bank of Chile: Current Account and External Financing

Miscellaneous Publications

  • Aguiar, Mark and Erik Hurst (2009): The Increase in Leisure Inequality: 1965-2005, Washington, DC: American Enterprise Institute, 2009.

  • Aguiar, Mark and Erik Hurst (2008): “Permanent Income Hypothesis,” New Palgrave Dictionary of Economics, Palgrave Macmillan, 2008 (online 2016).

Published Discussions

  • Aguiar, Mark (2017): “Comment on: ‘Bond finance, bank credit, and aggregate fluctuations in an open economy’ by Roberto Chang, Andres Fernández, Adam Gulan”, Carnegie-Rochester-NYU Conference Series on Public Policy, Journal of Monetary Economics, 85: 110-113.

  • Aguiar, Mark (2013): “Discussion of ‘Capital mobility and international sharing of cyclical risk’, Carnegie-Rochester-NYU Conference Series on Public Policy, Journal of Monetary Economics, 60(1): 63-65.

  • Aguiar, Mark (2010): “Comment on Rong Qian, Carmen Reinhart, and Kenneth Rogoff ‘On Graduation from Default, Inflation and Banking Crises: Elusive or Illusion,’” NBER Macroannual, 2010.

  • Aguiar, Mark (2009): “Discussion of Clayne Pope’s ‘Measuring the distribution of material well-being: US trends,’ Carnegie-Rochester-NYU Conference Series on Public Policy, Journal of Monetary Economics, 56(1): 79-82.

Working Papers

  • Aguiar, Mark, Manuel Amador, and Cristina Arellano (2021): “Micro Risks and Pareto Improving Policies”

  • Aguiar, Mark, Mark Bils and Corina Boar (2020): “Who are the Hand-to-Mouth?”

  • Aguiar, Mark, Manuel Amador, Emmanuel Farhi, and Gita Gopinath (2013): “Crisis and Commitment: Inflation Credibility and the Vulnerability to Sovereign Debt Crises”.

Service

Program Committee Co-Chair for Society of Economic Dynamics Annual Meeting, 2010, Montreal.

Co-Organizer, Stanford Institute for Theoretical Economics Sovereign Debt Conference, 2012

Co-Organizer, NBER Macroeconomics Within and Across Borders, 2012-present

Co-Organizer, NBER International Finance and Macroeconomics, Fall 2020

Scientific Commitee, ADEMU 2020 workshop

Referee: American Economic Review, Canadian Journal of Economics, Econometrica, Economic Journal, International Economic Review, Journal of Development Economics, Journal of Economic Dynamics and Control, Journal of Economic Growth, Journal of the European Economic Association, Journal of Finance, Journal of Human Resources, Journal of International Economics, Journal of International Money and Finance, Journal of Law and Economics, Journal of Monetary Economics, Journal of Political Economy, Journal of Population Economics, Journal of Public Economics, National Science Foundation, Quarterly Journal of Economics, Review of Economic Dynamics, Review of Economics and Statistics, Review of Financial Studies.