Micole De Vera

Micole De Vera will join the Structural Analysis Division at the Banco de España in September 2024. He holds a Ph.D. in Economics from CEMFI (Madrid, June 2023). Prior to his doctoral studies, Micole obtained a Master in Economics and Finance from CEMFI. He also holds a Master in Applied Mathematics and undergraduate degrees in Economics and Applied Mathematics from Ateneo de Manila University (Quezon City, Philippines). Prior to joining the Banco de España, he is a one-year postdoctoral fellow of the Stone Centre at the University College London (London, UK; 2023-2024).

Micole’s research interests lie broadly in labor economics, firm dynamics, and applied econometrics. He aims to combine detailed administrative and survey data with novel econometric tools to measure inequality and understand its sources and consequences. His current research revolves around two themes: (i) the role of firms in labor market inequality, and (ii) inequality in risk and risk perceptions.

In his job market paper titled “Firm-level productivity and demand shocks in imperfectly competitive labor markets: implications for wage dynamics,” he measures whether persistent, idiosyncratic shocks to firm-level productivity and demand are translated into wage adjustments. This is important as it contributes to our understanding of how firms affect worker wage dynamics and, consequently, inequality.  In 2022, he published a paper entitled “Income risk inequality: evidence from Spanish administrative records,” which was joint work with Manuel Arellano, Stéphane Bonhomme, Laura Hospido, and Siqi Wei. In this paper, they develop a methodology to construct measures of individual income risk as functions of past employment history, income, and demographics and apply it to Spanish administrative data covering the period 2005—2018.