Tomasz Kamil MICHALSKI

Associate Professor

Economics and Decision Sciences

michalski@hec.fr http://www.hec.fr/michalski

Biography

Tomasz Michalski is an Associate Professor of Economics at the HEC Paris business school.

He joined HEC Paris in 2006 after completing a Ph.D. in Economics at Columbia University and is affiliated with GREGHEC and Hi! Paris. He was also a researcher at the National Bank of Poland (2001-2006) in the Exchange Rate Division and at the European Central Bank.

His research interests are in International Trade, Finance and Economic Geography. Tomasz is particularly interested in the effect of different barriers hindering regional and international exchange and how technology affects such barriers. He has worked on various topics such as across and within-city labor market evolution, industry location patterns, financial intermediation in (international) trade, or consequences of international portfolio allocation under risk and ambiguity. He specializes both in applied theory and empirical studies. His research was published in journals such as Journal of Financial Economics, Journal of International Economics, Review of Economics and Statistics, the Review of Financial Studies.

At HEC Paris, Tomasz teaches courses in Macroeconomics and International Economics in the Grande Ecole, various Master programs and the EMBA. In the past, he also taught courses in Microeconomics and Offshoring.

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Scientific articles

Labor Market Polarization and the Great Urban Divergence

Journal of International Economics, Forthcoming, (in coll. with D. R. DAVIS, E. MENGUS)

Financial Constraints and Propagation of Shocks in Production Networks

Review of Economics and Statistics, March 2024, vol. 106, n° 2, pp 437-454, (in coll. with B. DEMIR, B. S. JAVORCIK, E. ORS)

Banking Integration and Growth: Role of Banks' Previous Industry Exposure

Journal of Financial Intermediation, January 2022, vol. 49, n° 100944, (in coll. with N. KARAKAYA, E. ORS)

Facebook affordances and citizen engagement during elections: European political parties and their benefit from online strategies?

Journal of Information Technology & Politics, 2021, vol. 18, n° 2, pp 180-193, (in coll. with K. Koc-Michalska, D. G. Lilleker, R. Gibson, J. M. Zajac)

Fundamentals and exchange rate forecastability with simple machine learning methods

Journal of International Money and Finance, November 2018, vol. 88, pp 1-24, (in coll. with C. AMAT, G. STOLTZ)

Risk Versus Ambiguity and International Security Design

Journal of International Economics, July 2018, vol. 113, pp 74-105, (in coll. with B. HILL)

Risk-Based Capital Requirements for Banks and International Trade

Review of Financial Studies, November 2017, vol. 30, n° 11, pp 3970-4002, (in coll. with B. DEMIR-PAKEL, E. ORS)

Input substitutability, trade costs and location

Economics Letters, October 2012, vol. 117, n° 1, pp 57-59,

Quality Assurance and the Home Market Effect

Review of International Economics, 2 December 2012, vol. 20, n° 2, pp 237-255, (in coll. with A.-T. GOH)

(Interstate) banking and (interstate) trade: Does real integration follow financial integration?

Journal of Financial Economics, April 2012, vol. 104, n° 1, pp 89-117, (in coll. with E. ÖRS)

Chapters in edited books

Ambiguity and International Risk Sharing

Toward A Just Society - Joseph Stiglitz And Twenty-First Century Economics, M. Guzman, Columbia University Press, 3

Working papers

Knowledge Workers and Firm Capabilities

Cahier de Recherche du Groupe HEC , 2023

Financial Constraints and Propagation of Shocks in Production Networks

CESifo_Center for Economic Studies and Ifo Institute for Economic Research , 2020

Financial Integration and Growth: Banks' Previous Industry Exposure Matters

Cahier de Recherche du Groupe HEC , 2015

Forecasting Exchange Rates Better than the Random Walk Thanks to Machine Learning Techniques

Cahier de Recherche du Groupe HEC , 2014

Risk versus Ambiguity and International Security Design

Cahier de Recherche du Groupe HEC , 2014

Risk-Based Capital Requirements for Banks and International Trade

Cahier de Recherche du Groupe HEC , 2014

U.S. Banking Integration and State-Level Exports

Cahier de Recherche du Groupe HEC , 2014

Input substitutability, trade costs, and the product cycle

Cahier de Recherche du Groupe HEC , 2011

Do countries falsify economic date strategically? Some evidence that they do

Cahier de Recherche du Groupe HEC , 2010

Taxation and enforcement in a spatial model

Mimeo , 2009