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About the Author(s)

Fernando Alvarez-Parra

Fernando Alvarez is the Charles F. Grey Distinguished Service Professor in the Kenneth C. Griffin Department of Economics of The University of Chicago. He is an NBER research associate affiliated with the Economic Fluctuations and Growth and Monetary Economics Programs, a fellow of the Econometric Society, an Economic Theory Fellow, and a member of the American Academy of Arts & Sciences.

Alvarez has been a Wim Duisenberg Fellow at the European Central Bank, the Alexandre Lamfalussy Senior Research Fellow at the Bank for International Settlements, and a consultant at the Federal Reserve Banks of Chicago and Minneapolis. His research is in macroeconomics, broadly conceived. His current interests are in dynamic heterogeneous agent models, price setting with nominal rigidities, and money demand and means of payments. His work has been published in the American Economic Review, The Quarterly Journal of Economics, Econometrica, The Review of Economic Studies, Journal of Political Economy, Journal of Economic Theory, and Journal of Monetary Economics, among others.

Alvarez graduated from the University of Minnesota in 1994, was an assistant professor at the Wharton School of the University of Pennsylvania, and joined The University of Chicago in 1996. He lives in Chicago with his wife, Gaby Silva Bavio.


1. Cash and the Economy: Evidence from India’s Demonetization, Chodorow-Reich G, Gopinath G, Mishra P, Narayanan A. The Quarterly Journal of Economics 135(1), February 2020, pp. 57–103.   Go to ⤴︎
2.  The Curse of Cash, Rogoff KS. Princeton, NJ: Princeton University Press, 2017.   Go to ⤴︎
3. Consumer Surplus of Alternative Payment Methods: Paying Uber with Cash,” Alvarez FE, Argente DO. NBER Working Paper 28133, November 2020. Published as “On the Effects of the Availability of Means of Payments: The Case of Uber,” The Quarterly Journal of Economics 137 (3), August 2022, pp. 1737–1789, Go to ⤴︎
4. Cash: A Blessing or a curse?” Alvarez F, Argente D, Jimenez R, Lippi F. Journal of Monetary Economics 125, January 2022, pp. 85–128.   Go to ⤴︎
5. Are Cryptocurrencies Currencies? Bitcoin as Legal Tender in El Salvador,” Alvarez FE, Argente D, Van Patten D. NBER Working Paper 29968, February 2023. Go to ⤴︎
6. Strategic Complementarities in a Dynamic Model of Technology Adoption: P2P Digital Payments,” Alvarez FE, Argente D, Lippi F, Méndez E, Van Patten D. NBER Working Paper 31280, May 2023. Go to ⤴︎

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