Gabriel Mihalache
International Economics

Gabriel Mihalache


425 Arps Hall, The Ohio State University, Columbus, OH 43210

Curriculum Vitae (PDF)

Google Scholar, GitHub

My name is Gabriel, I study topics in International Macroeconomics. My work explores the consequences of sovereign default risk for the maturity structure of public debt, sectoral reallocation, capital accumulation, and fiscal-monetary interactions. I am an Assistant Professor of Economics at The Ohio State University. Previously, I was affiliated with the Department of Economics at Stony Brook University. I received my PhD in 2016, from the University of Rochester. I am Romanian and, if you're curious, this is how you pronounce my last name.

News. July 2022: Our revision of "COVID-19 Vaccination and Financial Frictions," with Cristina and Yan, has been accepted by the IMF Economic Review! Final preprint below.

Working Papers

Manuscripts with Decision

  • "Bargaining over Taxes and Entitlements in the Era of Unequal Growth," Apr 2022

    with Marina Azzimonti and Laura Karpuska, revise & resubmit International Economic Review
  • "Deadly Debt Crises: COVID-19 in Emerging Markets," Apr 2021
    with Cristina Arellano and Yan Bai, revise & resubmit Review of Economic Studies
  • "Monetary Policy and Sovereign Risk in Emerging Economies (NK-Default)," Jan 2020

    with Cristina Arellano and Yan Bai, reject & resubmit American Economic Review

In Progress…

  • "Predictable Interest Rate Movements, Implications for Emerging Markets," Mar 2022

    with Samuele Centorrino and Lei Li, initial draft
  • "Non Linear Dividend Taxation and Shareholder Disagreement," Feb 2021

    with Alexis Anagnostopoulos and Eva Cárceles-Poveda, initial draft
  • "The Maturity and Payment Schedule of Sovereign Debt," Jun 2016

    with Yan Bai and Seon Tae Kim, in limbo


  • "COVID-19 Vaccination and Financial Frictions,"

    with Cristina Arellano and Yan Bai
    IMF Economic Review, forthcoming, 2022, ISSN 2041-4161
  • "Sovereign Default Resolution Through Maturity Extension,"
    PDF DOI Code

    Journal of International Economics, Volume 125C, 2020, ISSN 0022-1996
  • "Default Risk, Sectoral Reallocation, and Persistent Recessions,"

    with Cristina Arellano and Yan Bai
    Journal of International Economics, Volume 112, 2018, ISSN 0022-1996
  • "The Payment Schedule of Sovereign Debt,"

    with Yan Bai and Seon Tae Kim
    Economics Letters, Volume 161, 2017, ISSN 0165-1765
Bargaining over Taxes and Entitlements in the Era of Unequal Growth



All materials, including syllabi and recordings, are distributed via Carmen. Class-specific office hours are listed in the syllabus. For other appointments, please email. Students, please use and include the class name in the subject. Thank you!

Fall 2022

  • ECON 8862 International Economics 2

Previously (Stony Brook University)

  • ECO 305 Intermediate Macroeconomic Theory
  • ECO 325 International Economics (pre-2020)
  • ECO 325 International Trade
  • ECO 386 International Finance
  • ECO 531 Introduction to Computational Methods in Economics (MA)
  • ECO 610 Advanced Macroeconomic Theory (PhD)
  • ECO 613 Computational Macroeconomics (PhD)

Are you considering asking me to write a reference letter in support fo your grad school applications? Please read carefully the information available here, to help me help you. Thank you!

Door Decorations

It is traditional for academics to decorate their office doors with snippets from articles, media, social commentary, quotes, or cartoons. These are the current content on my door, as of June 2022:

Sovereign Yield Spreads