Darden School of Business_Felipe Saffie_1_1800x1800_BW

Felipe Saffie

Assistant Professor of Business Administration

Office

FOB 197

Areas of Expertise

International Finance, Quantitative Macroeconomics, International Trade, Economic Growth

Education: B.S. and M.Sc., Pontificia Universidad Catolica de Chile; Ph.D., University of Pennsylvania

Felipe Saffie is an Assistant Professor of Business Administration in the Global Economies and Markets area at the University of Virginia Darden School of Business. He teaches macroeconomics in Darden's MBA programs and currently serves as Course Head for GEM II. Before joining Darden in 2020, he was an Assistant Professor of Economics at the University of Maryland.

Saffie's research focuses on international finance, firm dynamics, trade, and economic growth. He studies how global shocks, financial frictions, exchange rates, trade disruptions, and policy interventions shape firm behavior, credit allocation, productivity, and aggregate economic outcomes. His work combines granular microdata with quantitative macroeconomic models.

His research has been published or accepted in leading journals including the Review of Economic Studies, American Economic Journal: Macroeconomics, Journal of Financial Economics, and Journal of International Economics. He is a Faculty Research Fellow at the National Bureau of Economic Research, an Associate Editor at the Journal of Monetary Economics, and holds a courtesy appointment in the Department of Economics at the University of Virginia.

He earned his Ph.D. in Economics from the University of Pennsylvania in 2014 and holds B.S. and M.A. degrees from Pontificia Universidad Catolica de Chile. He has held visiting positions at the International Monetary Fund, Sciences Po, the Federal Reserve Bank of Chicago, and the Board of Governors of the Federal Reserve System.

Saffie's Darden Business Publishing materials include cases and technical notes on macroeconomics, economic growth, fiscal policy, market power, tariffs, the role of the dollar, and nearshoring.

Affiliations

  • Faculty Research Fellow, National Bureau of Economic Research (2024-present)
  • Associate Editor, Journal of Monetary Economics (2022-present)
  • Courtesy Appointment, Department of Economics, University of Virginia (2023-present)

Selected Publications

Fewer but Better: Sudden Stops, Firm Entry, and Financial Selection, with Sina T. Ates, American Economic Journal: Macroeconomics, 2021.

The Transmission of Commodity Price Super-Cycles, with Felipe Benguria and Sergio Urzua, Review of Economic Studies, 2024.

From Carry Trades to Trade Credit: Financial Intermediation by Non-Financial Corporations, with Bryan Hardy, Journal of International Economics, 2024.

Escaping the Trade War: Finance and Relational Supply Chains in the Adjustment to Trade Policy Shocks, with Felipe Benguria, Journal of International Economics, 2024.

Real Exchange Rates and Endogenous Productivity, with Nils Gornemann and Pablo Guerron-Quintana, American Economic Journal: Macroeconomics, 2025.

Firm-to-Firm Financial Linkages and Dollar Risk Transmission, with Bryan Hardy and Ina Simonovska, forthcoming, Journal of Financial Economics.

The Micro and Macro Dynamics of Capital Inflows, with Liliana Varela and Kei-Mu Yi, accepted, Review of Economic Studies.