Jacopo Ponticelli Associate Professor of Finance Kellogg School of Management, Northwestern University NBER Research Associate CEPR Research Affiliate Global Poverty Research Lab (NU) - Affiliate Center for Economic History (NU) - Affiliate Luohan Academy Fellow Global Hub, Office 4485 2211 Campus Dr, Evanston, IL 60208 email: jacopo.ponticelli@kellogg.northwestern.edu CV Research Statement GoogleScholar SSRN OfficialWebpage

Working Papers

"Temperature, Adaptation and Local Industry Concentration" (with Qiping Xu and Stefan Zeume)
[Paper version: March 2024] [ Vox EU Column, Kellogg Insight ]

"The Effects of Climate Change on Labor and Capital Reallocation" (with Christoph Albert and Paula Bustos)
[Paper version: April 2024] [ Vox EU Column, PRI Blog]

"Industrialization without Innovation" (with Paula Bustos, Juanma Castro Vincenzi , and Joan Monras)
[Paper version: October 2022]

"The International Transmission of Democratic Values: Evidence from the African Diaspora" (with Marco Manacorda and Andrea Tesei)
[Paper version: March 2024]

"Pricing the Priceless:The Financial Cost of Biodiversity Conservation" (with Fukang Chen, Minhao Chen, Lin William Cong and Haoyu Gao)
[Paper version: August 2024]

Working Papers under review

"Information Frictions and Take-up of Government Credit Programs" (with Pulak Ghosh, Apoorv Gupta and Andrea Tesei)
R&R at the Review of Financial Studies [Paper version: July 2023]

"Eclipses and the Memory of Revolutions: Evidence from China" (with Meng Miao and Yi Shao)
R&R at the AEJ: Applied Economics [Paper version: October 2023]

Publications

"Language Barriers, Technology Adoption and Productivity: Evidence from Agriculture in India" (with Apoorv Gupta and Andrea Tesei)
Review of Economics and Statistics, Forthcoming
[Paper ] [Coverage: The World Bank Blog, Kellogg Insight, Ideas for India, ThePrint]

"Consumption Smoothing or Consumption Binging? The effects of government-led consumer credit expansion in Brazil" (with Gabriel Garber, Atif Mian and Amir Sufi )
Journal of Financial Economics, 156, 2024
[Paper] [Appendix]

"The Labor Effects of Judicial Bias in Bankruptcy" (with A. Araujo, R. Ferreira, S. Lagaras, Flavio Moraes and M. Tsoutsoura)
Journal of Financial Economics, 150(2), 2023
[Paper] [Appendix] [doi]

"Revealing Corruption: Firm and Worker Level Evidence from Brazil" (with E. Colonnelli, S. Lagaras, M. Prem and M. Tsoutsoura)
Journal of Financial Economics, 143(3), 2022
[Paper] [Appendix] [doi]

"Going Bankrupt in China" (with Bo Li)
Review of Finance, 26(3): 449-486, 2022
[Paper ] [doi] [Court Introduction Data] [Coverage: Harvard Law School, Oxford Business Law Blog, The Economic Times]

"Capital Accumulation and Structural Transformation" (with Paula Bustos and Gabriel Garber)
Quarterly Journal of Economics, 135(2): 1037–1094, 2020
[Paper] [Appendix] [doi] [Coverage: Kellogg Insight]

"Austerity and Anarchy: Budget Cuts and Social Unrest in Europe, 1919-2008" (with Joachim Voth)
Journal of Comparative Economics, 48(1): 1-19, 2020.
[Paper] [doi] [Coverage: The Economist, Freakonomics, Time Magazine, The Atlantic]

"Credit Allocation under Economic Stimulus: Evidence from China" (with Lin William Cong, Haoyu Gao, and Xiaoguang Yang)
Review of Financial Studies, 32(9): 3412–3460, 2019.
[Paper] [doi] [Coverage: The Economist, Bloomberg View, Bloomberg Opinion, Vox China, Chicago Booth Review ]

"Court Enforcement, Bank Loans and Firm Investment: Evidence from a Bankruptcy Reform in Brazil" (with Leonardo S. Alencar)
Quarterly Journal of Economics, 131(3): 1365-1413, 2016.
[Paper] [ Appendix] [doi] [Coverage: Folha de Sao Paulo]

"Agricultural Productivity and Structural Transformation: Evidence from Brazil" (with Paula Bustos and Bruno Caprettini)
American Economic Review, 106(6): 1320-1365, 2016.
[Paper] [Appendix] [doi] [Replication Files] [Coverage: BGSE Focus]

Other Publications

"Debt and Bankruptcy Resolution in China" (with Edith Hotchkiss, Kose John, Bo Li, and Wei Wang)
Annual Review of Financial Economics, 15:369-385, 2023
[Paper]

"Household Debt and Recession in Brazil" (with Gabriel Garber, Atif Mian and Amir Sufi)
Handbook of U.S. Consumer Economics, 2019.
[Paper] [Coverage: New York Times, Chicago Booth Review]

"A New Dataset on Mincerian Returns" (with Francesco Caselli and Federico Rossi)
in Francesco Caselli, Technology Differences over Space and Time, 2016, Princeton University Press
[Paper] [Dataset, References to Data Sources]