Federico Kochen

Macroeconomist | Associate Professor @CEMFInews | PhD @NYUFASEcon via @ITAM_mx

[Inclusive Productivity Network @incprodmon]

Super interesting!

"The Origins of Top Firms" by Rafael Guntin and Federico Kochen.

"We study the origins and life cycles of firms that reach the top 1 percent of the size distribution and show that they are central for quantifying the aggregate effects of financial frictions. Using longitudinal data, we document that future top firms make sizable capital investments early in life, exhibit strongly backloaded profits, and heavily rely on external financing. By contrast, firms in the bottom 99 percent operate with little capital early on and exhibit fairly flat profit shares over their life cycle. To interpret these patterns, we develop a firm dynamics model in which high-growth-potential firms face high input-specific fixed costs and rely on forward-looking financing to sustain backloaded profits. Quantitatively, the aggregate losses from financial frictions are driven primarily by distortions that hinder the entry and survival of future top firms."

https://t.co/ejYB72CZOI

[Isaac Baley @isaacbaley]

NYU strong at @SEDmeeting Athens 2026

#finding the state is an art

[Federico Kochen @fkocheng]

@luchi_casal @rafaguntin 👏🏼👏🏼👏🏼

[Banco de España Research @bde_Research]

What are the origins of top firms? This paper presents new facts about the first 20 years of firms that reach the top 1%. A model with ex-ante types, non-homotheticities, and financial frictions can account for top and bottom firm dynamics.  ➡️ https://t.co/nBgsneykOu  #BdeResearch @fkocheng @rafaguntin

[Isaac Baley @isaacbaley]

NYU strong 💪🏽 at @SEDmeeting

[Isaac Baley @isaacbaley]

Macro Fluctuations with Micro Frictions (MFMF) at the @bse_barcelona Summer Forum

@jandres_blanco @jan_eeckhout @Simon_Mongey

[CEMFI @CEMFInews]

🚨 Next Friday, January 31st, is the deadline to be eligible for funding for the Master in Economics and Finance and the PhD in Economics at CEMFI. If you're interested, you can apply here 👉 https://t.co/77FTajpvPW

[European Central Bank @ecb]

Are you a PhD student in economics or finance?

Want to win €10,000, share your research and meet policymakers like President @lagarde?

Enter our #YoungEconomistPrize by 12 February 2025 to have a chance of joining us at the #ECBForum on Central Banking in Sintra, Portugal!

[Federico Kochen @fkocheng]

@PriceTheorist @ssrc_org @RoeeLevyZ 👏🏼👏🏼👏🏼

[Federico Kochen @fkocheng]

@SorryToBeKurt @ERC_Research Huge congrats, Kurt! Also what a cool project acronym 👌🏼

[Federico Kochen @fkocheng]

Starting today VII MadMac Annual Conference! This year topic on Firm Dynamics and Growth, co-organized with @JosepPijoan @PauRoldanBlanc1 and sponsored by @CEMFInews @FundacionAreces

Looking forward to two days of great papers!

[Institute for International Economic Studies @IIES_Sthlm]

TODAY (Tues 7 Nov) at 1 pm CET we welcome @fkocheng from @CEMFInews who will present "Financial Frictions and the Market for Firms".

[Federico Kochen @fkocheng]

CEMFI is hiring!

We have up to two AP positions (open field and financial econ), and different post-doc positions

Outstanding colleagues, students, and location -- strongly recommend applying

[CEMFI @CEMFInews]

CEMFI is inviting applications for several positions at the Assistant Professor and Post-Doctoral Researcher Level. Applications Deadlines starting Nov 15
https://t.co/yhw8NA0lFk

[Matthias Meier @MatthiasMeier1]

📣Starting today📣

Workshop on FIRM HETEROGENEITY IN MACROECONOMICS in Bonn 🎵

Looking forward to two days of intense scientific discussions with many great scholars!

#EconTwitter @isaacbaley @ImmoSchott @JoachimJungherr @EPoS224 @UniBonn

[CEMFI @CEMFInews]

CEMFI Professor Federico Kochen (@fkocheng) has been awarded a Fundación Ramón Areces Post-doctoral Grant. Congrats!

[Federico Kochen @fkocheng]

@fercirelli @kingsbschool 👏🏼👏🏼👏🏼

[Federico Kochen @fkocheng]

@manolo_arellano @ecb Thank you, Manolo!

[Federico Kochen @fkocheng]

I am honored and grateful to be selected as one of the @ecb 2023 Lamfalussy Research Fellows, and congratulations to the other awardees!

[European Central Bank Research @ECB_Research]

ICYMI: Congratulations to the winners of the 2023 ECB Lamfalussy fellowships: F. Corell (@fccorell, @Finance_VU), M. Ghassibe (@mickey_gb @CREIResearch), F. Kochen (@fkocheng @CEMFInews), T. Nenova (@LBS), & Q. Vandeweyer(@QuentinVandewe2 @ChicagoBooth)!

https://t.co/nwSv5cHhlZ

[Federico Kochen @fkocheng]

@monicambravo @ecb Thanks, Monica!

[Federico Kochen @fkocheng]

@DanialLashkari @ecb Thank you, Danial!

[Federico Kochen @fkocheng]

@SamBen8 Thank you, Samuel!