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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. From micro to macro via production networks, (2014) Journal of Economic Perspectives
Carvalho, V. and Gabaix, X. The great diversification and its undoing, (2013) American Economic Review
Acemoglu, D., Carvalho, V.M., Ozdaglar, A. and Tahbaz-Salehi, A. The network origins of aggregate fluctuations., (2012) Econometrica
Carvalho, V.M., Martin, A. and Ventura, J. Understanding bubbly episodes., (2012) American Economic Review
Carvalho, V.M., Harvey, A.C. and Trimbur, T. A note on common cycles, common trends and convergence., (2007) Journal of Business and Economic Statistics

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

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.

Cambridge Big Data - Publication Date: 2018-01-12
Professor Vasco Carvalho is behind new Economic and Data Science Interest Group. This is part of the Cambridge Big Data Strategic Research Initiative (CBD).

Faculty Senior Academic Promotions - Publication Date: 2017-06-15
Vasco Carvalho, Sara Horrell, Pontus Rendahl and Petra Geraats have all been successful in the Faculty's Senior Academic Promotions.

Vasco Carvalho's Research Featured in Columbia GSB's Ideas and Insights - Publication Date: 2017-05-17
Columbia Business School discusses how complex supply chains can transform local shocks into national economic malaise based on the paper "Supply Chain Disruptions: Evidence from the Great East Japan Earthquake", by Vasco Carvalho, Makoto Nirei, Yukiko Saito and Alireza Tahbaz-Salehi.

Dr Vasco Carvalho awarded the Philip Leverhulme Prize - Publication Date: 2016-10-24
The Faculty is delighted to announce the news that Dr Vasco Carvalho has been awarded the Philip Leverhulme Prize this year.

Research Grants

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


PIIB Paper 6 - Lent - Business Cycle Theory

PhD Students


Margit Reischer
PhD Title: The Granularity of GDP Forecasts in Theory and Practice. Lessons from Multisector Growth Models
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
PhD Title: Export Transitions and the Supply Chain: Evidence from Uganda
Maryam Vaziri
PhD Title: Product of Networks in an Open Economy

Prof. Vasco Carvalho

Professor of Macroeconomics

Research Group:

CV: Curriculum Vitae

Personal Site:

Contact Details
Room: 30