José Elías Gallegos successfully defends his thesis
On Friday 10 June, José successfully defended his thesis "Essays on Macroeconomics".
![José at the defense](/polopoly_fs/1.618966!/image/image.jpg_gen/derivatives/landscape_690/image.jpg)
What is your thesis about? What are the most important findings, or were there any results that surprised you?
- My thesis studies different financial and informational frictions in the economy, and how they affect the transmission of monetary policy. In terms of results, I find a very strong relationship between inequality and the power of monetary policy, and evidence of significant information frictions and their consequences for the macroeconomy. I would say that I am surprised by the super strong finding on financial frictions, and with the consistence of the predictions of the information frictions setup and the data.
![Overview of José](/polopoly_fs/1.618967!/image/image.jpg_gen/derivatives/landscape_690/image.jpg)
What are your plans for the near future? Any particular research agenda you will embark on?
- I am moving to the Bank of Spain, where I will be in charge of researching on (1) the role of imperfect expectations on monetary and fiscal policy and (2) exploring the consequences of the input-output network in the macroeconomy. The first strand is a bit of a continuation of what I have worked on until now, while the second implies leaving my comfort zone. However, I could not be more excited about (2). I have already started looking into it!
Finally, how do you feel now that you have successfully defended your thesis?
- I am delighted. I cannot believe that I am graduating. What a wonderful journey this has been. I would repeat it again and again.
Gaetano Gaballo (HEC Paris and Banque de France) did a great job as opponent and we are very grateful for his time and his insight, and for also making the defense a joy to be a part of!
Last updated: June 23, 2022
Source: IIES