Martin Koenen

Martin Koenen

I grew up in Berlin, Germany and completed my PhD at Harvard University 

My research primarily explores the transformative power of social capital—the strength of an individual’s social network and community—in shaping economic opportunities. Relatedly, I study how social capital and context influence political preferences and polarization. I utilize big data, such as individual-level Facebook data, LinkedIn profile data, and administrative voter records. My goal, regardless of context or method, is to produce research that is rigorous, persuasive, and valuable to stakeholders beyond academia, ultimately aiding policymakers in improving societal outcomes.

In my job market paper (with Drew Johnston), we investigate why many people remain in declining areas instead of moving to higher-income locations. Using individual-level data from Facebook, we find that social ties play a crucial role in explaining this puzzle: social ties are concentrated locally and shape migration decisions. More-educated individuals have more dispersed social networks than less-educated ones making them more mobile. Social networks therefore explain why people stay in poorer areas and why less-educated individuals are less responsive to local economic downturns.

I was drawn to the IIES because it brings together researchers who are doing outstanding research on issues I care deeply about, and the environment is both demanding and warm. I look forward to many great collaborations in the years ahead—and to doing that work in a rigorous, welcoming, and genuinely fun environment.

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Amalia Repele

Amalia Repele

Growing up in Switzerland, I became interested in economics as the policies of the Swiss National Bank frequently made headlines during my high school years. I began my studies at the University of Lausanne and went on to pursue a PhD at Bocconi University, during which I also spent time at the ECB. I am now very excited to be joining the IIES as an Assistant Professor!

I am a macroeconomist with a particular interest in wealth inequality, labor markets, and monetary policy. In my research, I like to combine micro-data with theory and quantitative models to study how dynamics of wealth accumulation and labor market outcomes interact in ways that matter for business cycles. 

My job market paper starts by providing empirical evidence that US workers with low liquid wealth face a higher elasticity of employment to GDP fluctuations. I show that this pattern is consistent with a theory of job sorting based on wealth. In a nutshell, the idea is that wealth-poor workers sort into jobs that are easier to find because they need income quickly. In equilibrium, however, these jobs are both more risky and lower paid. A kind of “poverty trap” emerges from the sorting mechanism, as poorer workers cannot accumulate as much savings during their (shorter) employment spells. 

In a new project, joint with Alexey Gorn and Antonella Trigari, we explore the poverty trap further and study dynamics of poverty over the business cycles.

I share strong interests with the IIES scholars working on heterogeneous-agent macroeconomics and labor. Beyond that, the IIES is an inspiring place to grow, home to brilliant researchers and a vibrant intellectual community. I am also very drawn to Stockholm for its healthy lifestyle, design culture, and close connection to nature. My first impressions of both the IIES and the city could not be better!

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Veronica Salazar Restrepo

Veronica Salazar Restrepo

I'm originally from Bogotá, Colombia, and at 17 I moved to the US to study Mathematics at MIT, where I was drawn to Economics research and eventually decided to do a PhD at the LSE. This chapter has now come to an end. Following my postdoc at the Geneva School of Economics and Management at the University of Geneva, I am thrilled to have joined the IIES as an Assistant Professor!

My research interests lie in Environmental Economics, Development, and Trade. Specifically, I study agriculture, land use change, and biodiversity conservation through an economic geography lens. I'm passionate about understanding land use choices and their impacts on ecosystems and livelihoods in a world where different regions are linked by the movement of people and resources. I have ongoing projects focusing on Colombia, Brazil, Indonesia, and Pakistan.

In my job market paper, which I co-authored with Gabriel Leite Mariante, we examined whether forest conservation policies in Brazil have led to increased deforestation for agricultural production in unprotected areas of the country. While we did find some evidence of this displacement, it appears to be relatively small. Moreover, the conservation policies we studied have led to more intensive agricultural land use, with higher revenue per hectare.

I'm excited to continue this line of research and contribute to the conversation at IIES! The IIES is a vibrant community of brilliant minds dedicated to tackling global social issues such as education quality, the macroeconomics of climate change, and political polarization, all while maintaining a healthy work-life balance and being lots of fun!

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