Address: Vancouver School of Economics

Viktoria Hnatkovska University of British Columbia

253-6000 Iona Drive
Curriculum Vitae Vancouver, BC V6T 1L4
Phone: +1 (604) 822-2408
March 2017 Email: hnatkovs@mail.ubc.ca
WWW: http://faculty.arts.ubc.ca/vhnatkovska/

Current position
July 2013-present Associate Professor
University of British Columbia, Vancouver School of Economics
August 2006-June 2013 Assistant Professor
University of British Columbia, Department of Economics

Long-term visitor
September 2011-June 2013 Visiting Assistant Professor
University of Pennsylvania, Wharton School, Finance Department

Short-term visitor
May 2013, February 2014 FRB St. Louis
April 2013 Federal Reserve Board
May 2010 FRB Philadelphia
August - September 2009 FRB Minneapolis
June - August 2007 FRB New York

Education
2006 Ph.D. Georgetown University, Department of Economics
2002 M.A. Georgetown University, Department of Economics
2000 M.A. Economic Education and Research Consortium
at the National University of Kyiv-Mohyla Academy, Kyiv, Ukraine

Research interests
International Finance, Macroeconomics, Development Economics

Publications
Research papers
1. Armenter, R. and V. Hnatkovska. (2017). Taxes and Capital Structure: Understanding Firms’ Savings. Jour-
nal of Monetary Economics, accepted.
2. Hnatkovska, V., A. Lahiri, and C. Vegh. (2016). The Exchange Rate Response to Monetary Policy Innova-
tions. American Economic Journal: Macroeconomics 8(12), 137–81.
3. Hnatkovska, V. and A. Lahiri. (2015). Rural and Urban Migrants in India: 1983-2008. The World Bank Eco-
nomic Review 29(1), 257–70.
4. Evans, M. D. D. and V. Hnatkovska. (2014). International Capital Flows, Returns and World Financial Inte-
gration. Journal of International Economics 92(1), 14–33.
5. Gao, X., V. Hnatkovska, and V. Marmer. (2014). Limited Participation in International Business Cycle Mod-
els: A Formal Evaluation. Journal of Economic Dynamics and Control 39, 255–272.
6. Hnatkovska, V., A. Lahiri, and S. Paul. (2013). Breaking the Caste Barrier: Intergenerational Mobility in
India. Journal of Human Resources 48(2), 435–473.
7. Hnatkovska, V., A. Lahiri, and C. A. Vegh. (2013). Interest Rates and the Exchange Rate: A Non-Monotonic
Tale. European Economic Review 63, 68–93.
8. Devereux, M. B. and V. Hnatkovska. (2012). The Extensive Margin, Sectoral Shares, and International Busi-
ness Cycles. Canadian Journal of Economics 45(2), 509–534.

1
Curriculum Vitae: Viktoria Hnatkovska 2

9. Evans, M. D. and V. Hnatkovska. (2012). A Method for Solving General Equilibrium Models with Incom-
plete Markets and Many Financial Assets. Journal of Economic Dynamics and Control 36(12), 1909–1930.
10. Hnatkovska, V., A. Lahiri, and S. Paul. (2012). Castes and Labor Mobility. American Economic Journal: Ap-
plied Economics 4(2), 274–307.
11. Hnatkovska, V., V. Marmer, and Y. Tang. (2012). Comparison of Misspecified Calibrated Models: The Mini-
mum Distance Approach. Journal of Econometrics 169(1), 131–138.
12. Hnatkovska, V. (2010). Home Bias and High Turnover: Dynamic Portfolio Choice with Incomplete Markets.
Journal of International Economics 80(1), 113–128.
13. Evans, M. D. and V. Hnatkovska. (2007). Financial Integration, Macroeconomic Volatility, and Welfare.
Journal of the European Economic Association 5(2-3), 500–508.
14. Evans, M. and V. Hnatkovska. (2007). International Financial Integration and the Real Economy. IMF Staff
Papers 54(2), 220–269.

Book chapters
1. Bhattarjee, S., V. Hnatkovska, and A. Lahiri. “(2015). The Evolution of Gender Gaps in India”. In: India
Policy Forum 2014-15. Ed. by A. Panagariya. Vol. 11. Brookings Institution and National Council of Applied
Economic Research. New Delhi: Sage publications.
2. Hnatkovska, V. and A. Lahiri. “(2012). The Post-Reform Narrowing of Inequality Across Castes: Evidence
from the States”. In: Reforms and Economic Transformation in India. Ed. by J. N. Bhagwati and A. Panagariya.
Oxford: Oxford University Press, pp.229–252.
3. Hnatkovska, V. and N. Loayza. “(2005). Volatility and Growth”. In: Managing Economic Volatility and Crises:
A Practitioner’s Guide. Ed. by J. Aizenman and B. Pinto. Cambridge: Cambridge University Press, pp.65–
100.

Submitted papers
1. Hnatkovska, V. and A. Lahiri. (2016). Urban Sprawl and Rural Development: Theory and Evidence from India.
Working Paper. University of British Columbia.
2. Hnatkovska, V. and A. Lahiri. (2016). Urbanization, Structural Transformation and Rural-Urban Disparities in
China and India. Working Paper. University of British Columbia.
3. Devereux, M. B. and V. Hnatkovska. (2013). Borders and Nominal Exchange Rates in Risk-Sharing. Working
Paper. University of British Columbia. Revisions requested.

Citations in media
1. The Economist, Oct 13, 2012: Lessons from Palanpur. More inequality in an Indian village is
balanced by greater mobility.
2. NY Times, Oct 7, 2012: With Affirmative Action, India0 s Rich Gain School Slots Meant for
Poor.
3. NY Times, Dec 21, 2011: Scaling Caste Walls with Capitalisms Ladders in India.
4. The Caravan, Oct 1, 2012: Breaking the Silence.
5. Wall Street Journal, Nov 28, 2011: Are India0 s Poorest Catching Up?

Grants
• 2016, 2015, 2011 UBC Arts Undergraduate Research Award (AURA)
• 2014 SSHRC Insight Grant to study “Financial Frictions, Financing Needs and the Rise of
Firms’ Savings: Theory and Evidence” (with R. Armenter)
• 2014 Hampton Fund Research Grant to study “Structural Transformation and Occupational
Migration” (with A. Lahiri and T. Swiecki)
• 2012 International Growth Center grant to study “Saving Behavior in India: Understanding
the Differences across Castes” (with A. Lahiri)
• 2011 International Growth Centre grant to study “Macroeconomic Takeoff and Distributional
Churning in India” (with A. Lahiri)
Curriculum Vitae: Viktoria Hnatkovska 3

• 2010 SSHRC Standard Research grant to study “International and Intra-national Risk-Sharing”
• 2008 SSHRC Reapplication award
• 2007 UBC/Hampton HSS Small Research Grant
• 2007 UBC/Hampton Travel Research Grant

Awards and affiliations

• 2014 CWEN Young Researcher Award
• 2007 AEA-CSWEP Summer Economics Fellowship at the FRB NY
• 2005-2006 Razin Prize awarded for best dissertation paper, Georgetown University
• 2005-2006 Georgetown University Graduate School Dissertation Fellowship
• 2000-2005 Merit Based Georgetown University Teaching and Research Assistantships
• Member of the American Economic Association, Society for Computational Economics, Cana-
dian Economic Association, European Economic Association

Teaching experience
University of Pennsylvania, Wharton School, Finance Department

• Undergraduate: Monetary Economics and the Global Economy

BREAD – IGC – ISI Summer School, Delhi, India

• Graduate: International Finance

University of British Columbia, Department of Economics

• Graduate: Macroeconomics I (Ph.D.), Macroeconomics (M.A.)

• Undergraduate: Intro to International Finance, International Macroeconomics and Finance

Georgetown University, Department of Economics

• Graduate: Econometrics
• Undergraduate: Principles of Macroeconomics, Principles of Microeconomics, Econometrics,
Economic Statistics

The IMF and World Bank Institutes, Washington, D.C.

• Macroeconometric Modeling and Forecasting Using EViews and Panel Data Analysis Using
EViews courses

Professional activities
Seminars and conferences, last 5 years
Bank of Canada; Arizona State University; University of Illinois at Urbana-Champaign; Indian
School of Business; European Economic Association annual conference, Mannheim, Germany; Uni-
versity of Victoria, Conference on micro-foundations of international trade, global imbalances and
implications on monetary policy, SHUFE, Shanghai, China; Vanderbilt University; USC–JIMF Global
Financial Crisis conference, Los Angeles (discussant); European Economic Association annual con-
ference, Toulouse, France; West Coast International Finance and Open Economy Macroecono£mics
Workshop, Santa Clara University (discussant); ABCDE World Bank Conference, Washington DC;
York University, University of Toronto; Wharton School–Macro lunch; FRB Philadelphia; FRB New
York; Federal Reserve Board, European Economic Association annual conference, Gothenburg, Swe-
den; University of Houston; 4th IGC-ISI India Development Policy Conference, Delhi; American
Economic Association Meetings in Chicago (session organizer and presenter); World Bank Panel
Curriculum Vitae: Viktoria Hnatkovska 4

on Volatility and Uncertainty; Wharton School–Macro lunch; National Bank of Hungary; SED An-
nual Conference, Cyprus; NBER Summer Institute; 3rd IGC-ISI India Development Policy Con-
ference, Delhi; Wharton School–Lunch seminar; Canadian Macro Study Group, Montreal; SFU;
Bank of Canada; American Economic Association Meetings in Denver (discussant); UBC Sauder
School; Wharton School–Macro Lunch; University of Saskatchewan; Bank of Spain; SED Annual
Conference,Ghent; Fordham University; Georgetown University; FRB Dallas; FRB Philadelphia; Sec-
ond Conference on Recent Developments in Macroeconomics at Mannheim, Germany; Columbia–
Tsinghua Conference on International Economics in Beijing, China (presenter and discussant); NBER
Summer Institute; Monash University; University of Melbourne; University of Adelaide; University
of New South Wales; University of Sydney; Conference on Microeconomic Sources of Real Exchange
Rate Behavior at Vanderbilt University; BI Norwegian School of Management; LAEF Growth and
Development conference at Santa Barbara; University of Toronto.
Referee
American Economic Review, International Economic Review, Journal of Economic Dynamics and
Control, Journal of International Money and Finance, Journal of Development Economics, Canadian
Journal of Economics, Journal of International Economics, Review of Economic Dynamics, Journal of
Economic Theory, Journal of Macroeconomics, B.E. Journal of Macroeconomics, Macroeconomic Dy-
namics, Review of Finance, Empirical Economics, Economics Letters, Journal of Economic Growth,
Social Sciences and Humanities Research Council (SSHRC) of Canada, Research Grants Council
(RGC) of Hong Kong.

Conference organization
The 19th International Conference on Computing in Economics and Finance, Vancouver, BC, July
2013
The Georgetown Center for Economic Research Biennial Conference, Washington, DC, May 2013,
May 2015

Graduate students supervision

UBC (committee member or co-advisor): Subrata Sarker (Bank of Canada), Quoc Hung Nguyen
(Hong Kong Monetary Authority), Serdar Kabaca (Bank of Canada), Shubo Wang (Vanderbilt),
Oliver Boguth (Arizona State University, Carey School), Changhua Yu (University of International
Business and Economics), Na Zhang (Fudan University, Department of Finance), Xiaodan Gao (Na-
tional University of Singapore, Business School), Mustafa Tugan (ASBU, Turkey), Zhe Chen (Uni-
versity of International Business and Economics), Ruoying Wang (in progress), Pierluca Pannella (in
progress).

Professional experience
Aug 2004 – Sept 2004 Training Consultant United Nations Development Programme, Hanoi, Vietnam
May 2004 – Aug 2004 Consultant World Bank Group, Washington, D.C.
Economic Policy Group, PREM Unit
May 2003 – Aug 2003 Consultant World Bank Group, Washington, D.C.
Economic Policy Group, PREM Unit
June 1999 – Aug 2000 Consultant Harvard Institute for International Development, Kyiv, Ukraine