André C. Silva Nova School of Business and Economics Universidade Nova de Lisboa, Campus de Campolide Lisboa, Portugal

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Universidade Nova de Lisboa, Campus de Campolide 1099-032 Lisboa, Portugal

Tel: +351-21-380-1600 Ph.D. Economics University of Chicago August 2004 Dissertation: Monetary Dynamics in a General Equilibrium Version of the Baumol-Tobin Model

Committee: Fernando Alvarez (chair), Robert Lucas, Lars Hansen, Hanno Lustig

M.A. Economics University of Chicago August 2001 M.A. Economics Getulio Vargas Foundation - FGV, Brazil June 1999 Eng. Engineering Federal University of Rio de Janeiro - UFRJ, Brazil December 1995 PERSONAL

Citizenship: Portugal and Brazil POSITION

Universidade Nova de Lisboa, Lisbon, Portugal Associate Professor (with tenure). Since 2013 Assistant Professor. 2004-2013

OTHER APPOINTMENTS MIT Sloan School of Management

International Faculty Fellow. January-June 2009 University of Chicago

Lecturer, Macroeconomics I, 2002-2004 RESEARCH FIELDS

Monetary Economics, Finance, Growth and Development RESEARCH

Incentives to Innovate and the Decision to Go Public or Private, with Daniel Ferreira and Gustavo Manso. Review of Financial Studies, 27(1): 256-300, 2014

Rebalancing Frequency and the Welfare Cost of Inflation. American Economic Journal: Macroeconomics, 4(2): 153-183, 2012

Managerial Ability and Capital Flows. Journal of Development Economics, 93(1): 126-136, 2010 Taxes and Labor Supply: Portugal, Europe, and the United States. Portuguese Economic Journal,

7(2): 101-124, 2008. Non-technical version in III Conference Portuguese Economic Development in the European Context, Banco de Portugal

Lévy Processes and the Brazilian Market, with J. Barbachan and A. Schuschny. Brazilian Review of Econometrics, 21(2): 263-289, 2001

A Test of an Equilibrium Search Model, with Álvaro Novo.

Financial Frictions and Interest Rate Shocks, with Bernardino Adão Government Financing with Taxes or Inflation, with Bernardino Adão



 The Welfare Cost of Inflation with Distortionary Taxation, with Bernardino Adão  Cash and Interest Rate Shocks, with Bernardino Adão

 Individual and Aggregate Money Demands

 Firm Cash Holdings and Real Interest Rates, with Bernardino Adão REFEREE AND PUBLISHED REVIEWS

American Economic Journal: Macroeconomics, B.E. Journal of Macroeconomics, Canadian Journal of Economics, Empirical Economics, European Journal of Finance, European Journal of Political Economy, International Journal of Health Care Finance and Economics, Journal of European Social Policy, Journal of Political Economy, Macroeconomic Dynamics, Portuguese Economic Journal, Portuguese Journal of Accounting and Management, Review of Economic Dynamics, Review of International Economics, Revista Brasileira de Economia, Southern Economic Journal.

Evaluator of Research Projects for the European Commission.

Evaluator of Grants for FCT (Fundação para a Ciência e Tecnologia-Portugal). Book Reviewer: Routledge.

“Monetary and Wage Policies in the Euro Area,” Journal of Economic Literature, 45: 751-2, 2007. EDITORIAL SERVICE

Associate Editor Brazilian Review of Finance, 2011-2013, 2014-


Program Committee Financial Management Association (2013, 2012, 2011)

Member Brazilian Finance Association (2014, 2013, 2012, 2011, 2010) Brazilian Econometric Society (2013)


 Principal Investigator, FCT Project “Financial Frictions and Monetary Policy” 2013-2015  Principal Investigator, FCT Project “The Use of Information in Firms and

Financial Markets”

2008-2011  NOVA FORUM Grant, Universidade Nova de Lisboa 2009-2012  Calouste Gulbenkian Foundation. Grant for conferences 2008  Egide Grant, Universidade Nova de Lisboa 2004-2008 AWARDS AND FELLOWSHIPS

 III Conference Portuguese Economic Development in the European Context, Banco de Portugal

2006  First in his class at Getulio Vargas Foundation (FGV) 1997-1999  BahiaBank Award: best M.A. thesis project at FGV 1998  Technology Innovation and Industrial Organization Dept Fellowship (UFRJ) 1994  Mathematics Institute Fellowship (UFRJ) 1991-1993



 José Miguel Costa (PhD). “Optimal Fiscal Policy and Public Debt Management in a Small Open Economy,” 2010

 Susana Salvado (PhD). “Fiscal Policy Coordination Gains in a Monetary Union,” 2009  Erica Marujo (PhD). “The Welfare Effects of Financial Crises.” In progress

 Sandra Bernardo (PhD). “Self-Fulfilling Sovereign Debt Crises with Partial Default.” In progress

 Filipe Lacerda (MA). “Filtering Dividends: New Evidence on Return Predictability,” 2009  Jeyhun Mammadov (MA). “Financial Liberalization and Foreign Bank Entry,” 2007 ACADEMIC EXPERIENCE AND COURSES TAUGHT

Universidade Nova de Lisboa, Nova School of Business and Economics  PhD Macroeconomic Theory I, Fall 2014-2010

Asset Pricing, Fall 2008-2005

Advanced Macroeconomics, Fall 2008-2007

Research Group, organizational committee, Spring 2011, Fall 2011 Macroeconomics Group, organizational committee, Spring 2006-2005  Masters in Finance and Economics

The Macroeconomics of Financial Markets, Fall 2014-2012, 2010, Spr. 2012  Undergraduate Macroeconomics, Fall 2014-2011, 2008, Spring 2011, 2010-2007

Introduction to Macroeconomics, Spring 2005, Fall 2005 Data Analysis, Undergraduate, Spring 2006-2005 MBA - The Lisbon MBA International, Católica | Nova, MIT

 Macroeconomics and Financial Markets, MBA Full Time (2013, 2012) University of Chicago

 Macroeconomics I (Spring 2004, Winter 2003, 2002, Summer 2002)

 TA for International Trade and Economic Growth (Robert Lucas); Macro II (Hanno Lustig); Macro I (Annette Vissing-Jorgensen); M.S. Financial Mathematics (Andre Faria); Introduction to Macroeconomics, and Introduction to Microeconomics (Allen Sanderson)

 Chicago Booth School of Business, Grader for Industrial Organization MBA (Sam Peltzman), Investments MBA (David Marshall)

 Research Assistant for Fernando Alvarez: Monetary Theory Pontifical Catholic University - Rio de Janeiro (PUC-Rio)  Macroeconomics I, II, PhD (2010, 2011)

 Mathematics Applied to Economics (1999), Introduction to Economics (1999) Getulio Vargas Foundation - Rio de Janeiro (FGV-EPGE)

 Graduate Summer Course of Mathematics (1998)



 AUT Business School, Auckland University of Technology, New Zealand. Research Seminar on Macroeconomics and Finance, and Workshop on Asset Pricing and Corporate Finance, 2014  Tilburg University. Conference on Entrepreneurial Finance, 2011

 Austrian National Bank, in collaboration with the Deutsche Bundesbank. Workshop on Consumer Payment Choice and the Demand for Money, 2010


Banco de Portugal. Member of the project “Structural Policies for the Labor Market: Effects and Quantification (Políticas Estruturais do Mercado de Trabalho: Efeitos e Quantificação),” 2006 ANGOLA/SOUTHERN AFRICAN DEVELOPMENT COMMUNITY (SADC)

Conception and implementation of a workshop on Econometrics and Policy Analysis for government officials. Luanda, 2012

PAPER PRESENTATIONS AT CONFERENCES AND SEMINARS  Society for Economic Dynamics, Cyprus (2012)

 American Finance Association, ASSA Meetings, Denver (2011)

 American Economic Association, ASSA Meetings, San Francisco (2009), New Orleans (2008)  Econometric Society World Congress, Shanghai (2010)

 Econometric Society, U Minnesota (2014), USC Los Angeles (2013), Malaga (2012),

Washington U St Louis (2011), Pompeu Fabra/Autonoma de Barcelona (2009), Bocconi (2008), Tepper School of Business (2008), Fuqua School of Business (2007), U Minnesota (2006)  European Economic Association, Malaga (2012), Pompeu Fabra/Autonoma de Barcelona

(2009), Bocconi (2008)

 Royal Economic Society, Cambridge (2012)

 CEPR-Symposium in Financial Markets (presented by co-author), Gerzensee (2010)  Brazilian Finance Society, Rio de Janeiro (2011)

 Luso-Brazilian Finance Meeting, Evora (2010), Rio de Janeiro (2009), Madeira (2008), Fortaleza (2007)

 Portuguese Economic Journal Conference, Evora (2008)  Portuguese Finance Network, Porto (2006)

 Money Macro and Finance Conference, Birmingham (2007)

 Association of Southern European Economic Theorists, Lisbon (2006)  Banco de Portugal (2006, 2013)

 III Conference Desenvolvimento Económico, Banco de Portugal, Lisbon (2006)  XIII Foro de Finanzas, Madrid (2005)

 Intertemporal Equilibria, Aggregation and Sunspots: in honor of Jean Michel Grandmont, Universidade Católica Portuguesa, Lisbon (2005)




Accenture Analyst (1996-1997), Intern (1995-1996)


English, Portuguese, Spanish, French


 Fernando Alvarez University of Chicago (773) 834-1482  Lars P. Hansen University of Chicago (773) 702-3908  Robert E. Lucas, Jr. University of Chicago (773) 702-8191  Hanno Lustig UCLA (310) 206-6077