Vasco M. Carvalho
Vasco M. Carvalho
External Partner

Vasco M. Carvalho is currently Professor of Macroeconomics at the Faculty of Economics of the University of Cambridge.  He is also the Director of the Cambridge-INET institute and a Fellow of Jesus College, the Alan Turing Institute and CEPR. Having gained his PhD at the University of Chicago, he was a Junior Researcher at CREI in Barcelona and Affiliated Assistant Professor at University Pompeu Fabra before joining the University of Cambridge in 2013. He was awarded the 2014 Wiley Prize in Economics by the British Academy for "achievement in research by an outstanding early career economist".  He was the Principal Investigator of the European Research Council Grant "MacroNets: Production Networks in Macroeconomics" and of a Leverhulme Prize Fellowship.

Professor Carvalho's research focuses on the origins of business cycles. His research has shown how the organization of production around supply-chain networks exposes the aggregate economy to disruptions in critical nodes along these chains.

Latest publications

Presentation released by BBVA Research at Big Things Data & AI Conference. Observing the evolution of the economy in real time and high definition can be essential when evaluating the economic impact of an event with few precedents in the world economy like the current Covid19 crisis.
Presentation released by BBVA Research at Banca d’Italia and Federal Reserve Board Joint Conference, Nontraditional Data & Statistical Learning with Applications to Macroeconomics.
We exploit high-frequency/high-resolution transaction data from BBVA to analyse the dynamics of expenditure in Spain during the ongoing COVID-19 pandemic. We find little shift in expenditure prior to the national lockdown, but then immediate, very large, and sustained expenditure reductions thereafter.