Carolina Villegas-Sanchez is currently an Associate Professor in the Department of Economics, Finance and Accounting at ESADE Business School and a Research Fellow of the CEPR. Her research focuses on open economy macroeconomic issues. Early work examines international capital flows, foreign direct investment and growth. Her recent research investigates the impact of financial integration on productivity. Some recent papers include "Capital Allocation and Productivity in South Europe" (QJE, 2017), "Specialization, Risk Sharing and the Euro" (JCMS, 2017), "What Hinders Investment in the Aftermath of Financial Crises: Insolvent Firms or Illiquid Banks?" (REStat, 2016) and "Men, Women and Machines: How Trade Impacts Gender Inequality" (JDE, 2014). She received her Ph.D. in Economics in 2008 from the European University Institute.