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Bernardo Candia

PhD candidate at UC Berkeley

About Me

I am currently a PhD candidate in Economics at the University of California, Berkeley. My research interests are Macroeconomics, Economic History and International Economics. Prior to coming to Berkeley, I received a Master and B.A. degree in Economics at the Universidad de Chile.


"The Inflation Expectations of U.S. Firms: Evidence from a new survey," with Olivier Coibion and Yuriy GorodnichenkoPDF (NBER, CEPR, IZA), accepted for publication in Journal of Monetary Economics.

In media:, Financial Post, Reuters, Econbrowser, BrookingsIsabel Schnabel, Economist, Economist II.

"Perceived and Expected Rates of Inflation of US Firms," with Olivier Coibion, Yuriy Gorodnichenko and Michael Weber, Link (PDF),  AEA Papers and Proceedings 113(2023): 52-55.

"The Macroeconomic Expectations of Firms," with Olivier Coibion and Yuriy GorodnichenkoPDF, Appendix, Handbook of Economic Expectations.

In media: Brookings.


"Taxes, Transfers and Income Distribution in Chile: Incorporating Undistributed Profits," with Eduardo Engel, Link, PDF (CEQ), Commitment to Equity Handbook Volume 2

In media: Ciper, Decodificador, COES.

"Communication and the Beliefs of Economic Agents," with Olivier Coibion and Yuriy Gorodnichenko, in Navigating the Decade Ahead: Implications for Monetary Policy, Economic Policy Symposium (Jackson Hole, WY) Proceedings, Federal Reserve  Bank of Kansas City, 2020. PDF (NBERJackson Hole version

In media: NYTLa JornadaInfobaeBloombergS&P, Financial Times, NRC, RBNZ, Ei, Ekonomia.itChristine Lagarde, Jens Weidmann, ECB, ECB II, Bank of England, Bank of Japan, Richmond Fed.

Working Papers

"Exchange Rate Pass-Through and Invoicing Currency: Different Patterns at the Border and the Store," with Luis Cabezas and Youyou Xu, PDF

"Clientelism and Political Party Representation: A Deviation from the Median Voter Theorem," with Luis Muñoz, PDF

"Keeping Up with the Jansens: Causal Peer Effects on Household Spending, Beliefs and Happiness," with Olivier Coibion, Dimitris Georgarakos, Yuriy Gorodnichenko and Maarten van Rooij, PDF (NBER, IZA)

"Tell Me Something I Don’t Already Know: Learning in Low and High-Inflation Settings" (with Olivier CoibionSerafin FracheDimitris GeorgarakosGeoff Kenny, Yuriy GorodnichenkoSaten KumarRodrigo LluberasBrent MeyerJorge PonceTiziano RopeleMichael Weber), PDF (NBER, CEPR, IZA) (conditionally accepted at Econometrica)

In media: Christine Lagarde.

"Do You Even Crypto, Bro? Cryptocurrencies in Household Finance" (with Olivier Coibion, Yuriy Gorodnichenko and Michael Weber), PDF (NBER, CEPR, IZA)

In media: WSJ, Forbes.

"Export-Led Decay: The Trade Channel in the Gold Standard Era," with Mathieu Pedemonte, PDF (Cleveland Fed) [NBER SI Slides] (conditionally accepted at Journal of European Economic Association)

"Another Reason to Use the Hamilton Filter," PDF, Online Appendix

"Countercyclical Earning Risk in Large Recessions: Consumption Dynamics and Welfare Losses," with Francisco Díaz-Valdés, PDF (revise and resubmit at Journal of Money, Credit and Banking)

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