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Research Interests

Macroeconomics; Networks in Economics; Applied Econometrics


Ph.D. in Economics from the University of Chicago (2008); European Research Council Starting Grant (2013) for the project MacroNets, Production Networks in Macroeconomics.

Recent Publications

Published Papers

Carvalho, V. M. and Grassi, B. Large Firm Dynamics and the Business Cycle, American Economic Review vol 109 no. 4 (2019) pp. 1375-1425
Carvalho, V. M. and Tahbaz-Salehi, A. Production Networks: A Primer, Annual Review of Economics, forthcoming (2018)
Carvalho, V. M. From micro to macro via production networks, Journal of Economic Perspectives vol 28(4) (2014) pp. 23-48
Carvalho, V. M. and Gabaix, X. The great diversification and its undoing, American Economic Review vol 103(5) (2013) pp. 1697-1727
Acemoglu, D., Carvalho, V. M., Ozdaglar, A. and Tahbaz-Salehi, A. The network origins of aggregate fluctuations., Econometrica vol 9 no. 1 (2012) pp. 336-343

Cambridge Working Papers in Economics

Carvalho, V. M. and Tahbaz-Salehi, A. Production Networks: A Primer, (2018) CWPE1856
Carvalho, V. M., Nirei, M., Saito, Y. U. and Tahbaz-Salehi, A. Supply Chain Disruptions: Evidence from the Great East Japan Earthquake, (2016) CWPE1670
Carvalho, V. M. and Voigtländer, N. Input Diffusion and the Evolution of Production Networks, (2015) CWPE1550
Carvalho, V. M. and Grassi, B. Large Firm Dynamics and the Business Cycle, (2015) CWPE1556
Carvalho, V. M. From Micro to Macro via Production Networks, (2014) CWPE1467

Recent Activities

Production Networks in Macroeconomics - Publication Date: 2019-07-10
Professor Vasco Carvalho was asked to give a keynote address at the 2019 ESCoE Conference on Economic Measurement. The series of ESCoE Conferences on Economic Measurement aim to promote research on economic measurement and increase dialogue between academic economists, national statisticians and statistics users to improve economic measurement.

Vasco Carvalho New Cambridge-INET Director - Publication Date: 2019-05-03
Cambridge-INET is delighted to announce that Professor Vasco Carvalho has been appointed as the new Director of the Institute.

Seventh European Conference on Networks - Publication Date: 2019-04-08
Cambridge-INET and the European Research Council (ERC) are holding the Seventh European Conference on Networks at Jesus College, Cambridge, on 10th-11th June 2019.

J M Keynes Fellowship Fund Lectures - Publication Date: 2019-02-01
Professor Vasco Carvalho will give a talk on "Networked Perspectives on the Macroeconomy" as part of the J M Keynes Fellowship Fund's evening of special lectures. The event will take place on Thursday 21 February 2019, between 17.30-19.30pm, in the McCrum Lecture Theatre, Cambridge and will featuring five of the Fund's distinguished Fellows speaking about their innovative research in the field of financial economics.

Moving away from Theoretical Models - Publication Date: 2018-05-08
Professor Vasco Carvalho discusses how new sources of large amounts of data are providing opportunities to test previously untestable things.

Research Grants

Leverhlume Trust Prize (LEVERHULME TRUST)
Production Networks In Macroeconomics (EC FP7 ERC SIRG)


PIIB Paper 2 - Lent - Business Cycle Theory
PIIB Paper 6 - Michaelmas - Finance & Asset Pricing

PhD Students


Margit Reischer
Margit Reischer
PhD Title: The Granularity of GDP Forecasts in Theory and Practice. Lessons from Multisector Growth Models
Maarten De Ridder
Maarten De Ridder
PhD Title: Investment in Productivity and the long-run effect of financial crises on output
Research: Macroeconomics, Business Cycles, Productivity
John Spray
John Spray
PhD Title: Export Transitions and the Supply Chain: Evidence from Uganda
Maryam Vaziri
Maryam Vaziri
PhD Title: Product of Networks in an Open Economy


Lukas Freund
Lukas Freund
PhD Title: The Macroeconomics of Automation and Inequality
Research: Macroeconomics, Labor Economics, Innovation, Computational Methods

Prof. Vasco Carvalho

Vasco Carvalho

Professor of Macroeconomics

Research Group:

CV: Curriculum Vitae

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Contact Details
Room: 30