## Daniel Garcia-Macia ## Source details **Canonical URL:** [Daniel Garcia-Macia](https://www.imf.org/en/research/researcher-cv/author/garcia-macia-daniel) ## Other formats - [Markdown version](/en/research/researcher-cv/author/garcia-macia-daniel/index.md) - [Structured JSON version](/en/research/researcher-cv/author/garcia-macia-daniel/index.json) - [Bundle manifest](/en/research/researcher-cv/author/garcia-macia-daniel/bundle-manifest.json) ## Bibliographic details - Authors: Daniel Garcia-Macia --- ### Biography Daniel Garcia-Macia is a Deputy Division Chief at the Strategy, Policy, and Review Department of the IMF. He holds a Ph.D. in Economics from Stanford University. His research interests are in Macroeconomics, Finance, Economic Growth and Innovation. ### Profile ### Education - Ph.D. in Economics, Stanford University, 2016 - M.A. in Economics, Stanford University, 2013 - M.Sc. in Economics, Barcelona Graduate School of Economics, 2010 - B.A. in Economics, Universitat Pompeu Fabra, 2009 ### Country work or Mission Assignment - Cambodia, China, Costa Rica, Ethiopia, euro area, Italy, Myanmar, United Kingdom ### IMF Career - Deputy Division Chief, Strategy, Policy, and Review, 2026-... - Senior Economist, Asia and Pacific Department, 2024-2026 - Economist, Fiscal Affairs Department, 2021-2024 - Economist, European Department, 2019-2021 - Economist (EP), European Department, 2017-2018 - Economist (EP), Research Department, 2016-2018 ### Field of Expertise - Open Economy Macroeconomics - Macro-Financial Issues - International Macroeconomics - Energy and Environmental Economics - Monetary Policy - Public Finance ### IMF Direct Blog Posts - [Industrial Policy Is Not a Magic Cure for Slow Growth](https://www.imf.org/en/Blogs/Articles/2024/04/10/industrial-policy-is-not-a-magic-cure-for-slow-growth) ### IMF Publications ### IMF Books and Working Papers - [Industrial Policy in China: Quantification and Impact on Misallocation](https://www.imf.org/en/publications/wp/issues/2025/08/07/industrial-policy-in-china-quantification-and-impact-on-misallocation-568888), Working Paper No. 2025/155 , August 8, 2025 - [Industrial Policies for Innovation: A Cost-Benefit Framework](https://www.imf.org/en/publications/wp/issues/2024/08/15/industrial-policies-for-innovation-a-cost-benefit-framework-553520), Working Paper No. 2024/176 , August 16, 2024 - [Broadening the Gains from Generative AI: The Role of Fiscal Policies](https://www.imf.org/en/publications/staff-discussion-notes/issues/2024/06/11/broadening-the-gains-from-generative-ai-the-role-of-fiscal-policies-549639), Staff Discussion Notes No. 2024/002 , June 17, 2024 - [Public Debt Dynamics During the Climate Transition](https://www.imf.org/en/publications/wp/issues/2024/03/29/public-debt-dynamics-during-the-climate-transition-546929), Working Paper No. 2024/071 , March 29, 2024 - [Has the Phillips Curve Become Steeper?](https://www.imf.org/en/publications/wp/issues/2023/05/12/has-the-phillips-curve-become-steeper-533315), Working Paper No. 2023/100 , May 12, 2023 - [The Effects of Inflation on Public Finances](https://www.imf.org/en/publications/wp/issues/2023/05/05/the-effects-of-inflation-on-public-finances-533099), Working Paper No. 2023/093 , May 5, 2023 - [Fiscal Rules and Fiscal Councils: Recent Trends and Performance during the COVID-19 Pandemic](https://www.imf.org/en/publications/wp/issues/2022/01/21/fiscal-rules-and-fiscal-councils-512128), Working Paper No. 2022/011 , January 27, 2022 - [Tracing Productivity Growth Channels in the UK](https://www.imf.org/en/publications/wp/issues/2021/11/12/tracing-productivity-growth-channels-in-the-uk-506828), Working Paper No. 2021/273 , November 12, 2021 - [Technological and Economic Decoupling in the Cyber Era](https://www.imf.org/en/publications/wp/issues/2020/11/20/technological-and-economic-decoupling-in-the-cyber-era-49868), Working Paper No. 2020/257 , November 20, 2020 - [Sectoral Policies for Climate Change Mitigation in the EU](https://www.imf.org/en/publications/departmental-papers-policy-papers/issues/2020/09/16/sectoral-policies-for-climate-change-mitigation-in-the-eu-49640), Departmental Paper No. 2020/014 , September 16, 2020 - [EU Climate Mitigation Policy](https://www.imf.org/en/publications/departmental-papers-policy-papers/issues/2020/09/16/eu-climate-mitigation-policy-49639), Departmental Paper No. 2020/013 , September 16, 2020 - [Labor Costs and Corporate Investment in Italy](https://www.imf.org/en/publications/wp/issues/2020/02/21/labor-costs-and-corporate-investment-in-italy-49035), Working Paper No. 2020/038 , February 21, 2020 - [Identifying Service Market Reform Priorities in Italy](https://www.imf.org/en/publications/wp/issues/2020/02/21/identifying-service-market-reform-priorities-in-italy-49038), Working Paper No. 2020/039 , February 21, 2020 - [The Measurement of External Accounts](https://www.imf.org/en/publications/wp/issues/2019/06/28/the-measurement-of-external-accounts-46949), Working Paper No. 2019/132 , June 28, 2019 - [Strengthening the Euro Area: The Role of National Structural Reforms in Building Resilience](https://www.imf.org/en/publications/staff-discussion-notes/issues/2019/06/13/strengthening-the-euro-area-the-role-of-national-structural-reforms-in-building-resilience-46234), Staff Discussion Notes No. 2019/005 , June 17, 2019 - [The External Balance Assessment Methodology: 2018 Update](https://www.imf.org/en/publications/wp/issues/2019/03/19/the-external-balance-assessment-methodology-2018-update-46643), Working Paper No. 2019/065 , March 19, 2019 - [The Insolvency Regime for Large Enterprises in Italy: An Economic and Legal Assessment](https://www.imf.org/en/publications/wp/issues/2018/09/28/the-insolvency-regime-for-large-enterprises-in-italy-an-economic-and-legal-assessment-46276), Working Paper No. 2018/218 , September 28, 2018 - [Household Wealth and Resilience to Financial Shocks in Italy](https://www.imf.org/en/publications/wp/issues/2018/08/31/household-wealth-and-resilience-to-financial-shocks-in-italy-46168), Working Paper No. 2018/196 , August 31, 2018 - [The Stabilizing Role of Net Foreign Asset Returns](https://www.imf.org/en/publications/wp/issues/2018/04/06/the-stabilizing-role-of-net-foreign-asset-returns-45748), Working Paper No. 2018/079 , April 6, 2018 - [The Financing of Ideas and the Great Deviation](https://www.imf.org/en/publications/wp/issues/2017/07/31/the-financing-of-ideas-and-the-great-deviation-45031), Working Paper No. 2017/176 , July 31, 2017 ### IMF Country Reports - [Costa Rica: Technical Assistance Report - Upgrading the Rule-Based Fiscal Framework](https://www.imf.org/en/Publications/CR/Issues/2023/02/22/Costa-Rica-Technical-Assistance-Report-Upgrading-the-Rule-Based-Fiscal-Framework-530076) ### F&D articles - [Absent multilateral cooperation, the global digital economy could splinter, and everyone would pay](https://www.imf.org/external/pubs/ft/fandd/2021/03/international-cooperation-and-the-digital-economy-garcia.htm) ### Non-IMF Publications ### Publications in Journals (Refereed) - [How Destructive is Innovation?, with Chang-Tai Hsieh & Peter Klenow, Econometrica, 87(5), 1507–1541, September 2019](https://drive.google.com/open?id=1SIirFpeFS1NOR3oPzeHgPxg87bfZplVw) - [Macroprudential Policy with Liquidity Panics, with Alonso Villacorta, The Review of Financial Studies, 36(5), 2046–2090, May 2023](https://academic.oup.com/rfs/article/36/5/2046/6726199) - [Household Wealth and Resilience to Financial Shocks in Italy, International Journal of Central Banking, 17(3), 241-272, September 2021](https://drive.google.com/file/d/1DNjlJQAFcTcdFRr4qUG74U54qsQjbA0Z/view?usp=share_link) - [Tracing Productivity Growth Channels in the UK, with Julia Korosteleva, Research Policy, 54(1), January 2025](https://www.sciencedirect.com/science/article/pii/S0048733324001987) - [Industrial Policies for Innovation: A Cost-Benefit Framework, with Alexandre Sollaci, IMF Economic Review, July 2025](https://link.springer.com/article/10.1057/s41308-025-00284-z) --- _Source: https://www.imf.org/en/research/researcher-cv/author/garcia-macia-daniel_