Tomasz Kamil Michalski

Economics and Decision Sciences Department

Office V114, building V, 1, rue de la Liberation, F-78351 Jouy-en-Josas CEDEX


Current CV


I will teach the following courses in Fall 2018:

  • Macroeconomics for Business (L3)
  • Globalization and Financial Markets I: Exchange Rates (MFE)
  • Globalization and Financial Markets II: International Capital Markets (MFE)
  • International Macroeconomics (M2)
  • International Macroeconomic Environment (MBA)

View my research on my SSRN Author page

Publications in chronological order:

"Fundamentals and exchange rate forecastability with simple machine learning methods" (SSRN version herewith Chistophe Amat and Gilles Stoltz,  forthcoming at Journal of International Money and Finance 88: 1-24, 2018.

Ambiguity vs. risk and international security design”, with Brian Hill, forthcoming at Journal of International Economics 113: 74-105, 2018.

"Risk-Based Capital Requirements for Banks in International Trade" with Banu Demir and Evren Ors, Review of Financial Studies 30: 3970-4002, 2017. Here is a link to the VOXEU article that summarizes this research.

"Do countries falsify economic data strategically? Some evidence that they might.” with Gilles Stoltz, Review of Economics and Statistics 95: 591-616, 2013. Here is a link to a video where I discuss the problem. Here is a link to a HuffingtonPost entry.

"Input substitutability, trade costs and location.", Economics Letters 117: 57-59, 2012. Online Appendix.

“(Interstate) banking and (interstate) trade: Does real integration follow financial integration?” joint with Evren Ors, Journal of Financial Economics 104: 89-117, 2012. Appendix Tables.

"Quality assurance and the home market effect” joint with Ai-Ting Goh, Review of International Economics 20: 237-255, 2012.

“Should small countries fear deindustrialization?” joint with Ai-Ting Goh, Review of International Economics vol. 18, no.4: 607-617, 2010.


Working papers / work in progress:

“Financial constraints and shock propagation through production networks,” with Banu Demir Pakel, Beata Javorcik and Evren Ors.

“Labor market polarization in a system of cities: The case of France,” with Donald R. Davis and Eric Mengus.

Banking Integration and International Trade: Evidence from US State exports,” joint with  Evren Ors

"US Financial Integration, Banks’ Industry Exposure, and Manufacturing Sector Growth" with Neslihan Dincbas and Evren Ors

“Multistage production, location and hidden comparative advantage” , joint with Ai-Ting Goh

“Contract enforcement, international trade and growth

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