Gideon Bornstein

Assistant Professor

The Wharton School, University of Pennsylvania

I am an Assistant Professor in the finance department of the Wharton School. Before joining Wharton I was a post-doctoral fellow at Princeton University. I received my PhD in Economics from Northwestern University.

Research fields: Macroeconomics, International Macroeconomics



Working Papers

The Macroeconomics of Trade Credit, September 2023  (with Luigi Bocola)

The Impact of Social Insurance on Household Debt, August 2023 (with Sasha Indarte)

Revise and Resubmit at Review of Economic Studies

Nonlinear Pricing and Misallocation, February 2023 (with Alessandra Peter)

Revise and Resubmit at American Economic Review

Entry and Profits in an Aging Economy: The Role of Consumer Inertia, November 2021

Revise and Resubmit at Review of Economic Studies


A World Equilibrium Model of the Oil Market (with Per Krusell and Sergio Rebelo)
Review of Economic Studies, January 2023

A Continuous-Time Model of Sovereign Debt [replication codes]
Journal of Economic Dynamics and Control, September 2020

Quantitative Sovereign Default Models and the European Debt Crisis (with Luigi Bocola and Alessandro Dovis)
Journal of International Economics, May 2019

Moral Hazard Misconceptions: The Case of the Greenspan Put (with Guido Lorenzoni)
IMF Economic Review, June 2018

Work in Progress

Financial Frictions and Firm Exit: Theory and Facts (with Laura Castillo-Martinez)

Awarded NSF Grant (co-PI with Laura Castillo-Martinez)

Monopsony Power and the Transmission of Monetary Policy (with Bence Bardóczy, Chiara Maggi, and Sergio Salgado )

Are High Housing Costs Amplifying Recessions? (with Sasha Indarte and Emily Williams)