I am a Ph.D. Candidate in Economics at Texas A&M University (expected 2027), specializing in macroeconomics, monetary economics, and fiscal policy. My research investigates how private-sector beliefs, attention, and firm heterogeneity shape the transmission of macroeconomic policies, drawing on firm-level microdata and macroeconomic modeling.
My job market paper, "Decoding Unconventional Monetary Policy: The Role of Firm-Level Heterogeneity", studies how the real effects of monetary policy depend on the informational content of policy announcements and on firms' attention and financial conditions.
In my teaching, I combine rigorous economic analysis with real-world problems to help students develop disciplined reasoning they can apply well beyond the classroom. I am a CIRTL Associate Fellow of the Academy for Future Faculty at Texas A&M.
Beyond academia, I have served as a consultant for the Inter-American Development Bank and contribute to policy-oriented research with direct implications for policymaking. I am a member of the Economics Research Network of the Colombian Central Bank.
You can find my CV here, and you can contact me at jorgehirs@tamu.edu.
Macroeconomics · Monetary Economics · Fiscal Policy
Refereeing: Energy Economics (2 reports), Journal of Real Estate Finance and Economics, Applied Economics Letters.
Departmental: Guest Speaker, Teaching Course for Economics Ph.D. Students, Texas A&M University (2026); Mentor for Ph.D. Students, Department of Economics, Texas A&M University (2023–present).
Software: Stata, MATLAB, R, Python
Languages: Spanish (native), English (fluent)
References available upon request. Full CV available as PDF above.
This paper studies how monetary policy—both conventional and unconventional—transmits to firm investment, emphasizing the roles of attention and financial conditions. I construct a firm-level measure of attention to monetary policy using earnings conference call transcripts and identify conventional, Odyssean, and Delphic policy shocks from high-frequency asset price movements around FOMC announcements. The effects of policy depend on its informational content: Odyssean forward guidance—reflecting commitment to a future policy path—generates stronger investment responses among attentive firms, while Delphic guidance—conveying the central bank’s assessment of economic fundamentals—and conventional policy transmit primarily through financial conditions, with a limited role for attention. I rationalize these findings with a framework in which firms differ in attention and financial fragility, and policy affects investment through expected financing costs and economic fundamentals. The results imply that the real effects of monetary policy depend on both the type of information conveyed and firm-level heterogeneity.
My teaching philosophy rests on the belief that economics is not a collection of models to memorize but a framework for making sense of the world. I want students to leave my courses with a way of thinking — one that helps them evaluate evidence, reason through trade-offs, and form disciplined judgments about complex questions. Because students arrive with different backgrounds, my role is to guide them as they turn curiosity into structured reasoning and the confidence to apply it independently. As a CIRTL Associate Fellow of the Academy for Future Faculty, I am committed to evidence-based, student-centered teaching. Please make sure to review the Macro Lab, an open, browser-based companion to Intermediate Macroeconomics where students experiment with the core models of the course and build intuition through hands-on simulation.
Macro Lab is an open, interactive companion to Intermediate Macroeconomics (ECON 410) that I am building to help students move from passive reading to active experimentation with the core models of the course. Each section pairs a structured lab guide with a set of browser-based modules where students adjust parameters, observe dynamics, and develop intuition for the mechanics behind the math. The lab is a work in progress and is openly available — students and instructors are welcome to use and adapt the materials.
Lab Guides are provided in Word format and contain the worksheets that accompany each set of interactive modules. Additional sections will be added as the lab develops. For questions, suggestions, or to use these materials in your own class, please get in touch.
License. All Macro Lab materials are released under a Creative Commons Attribution 4.0 International License (CC BY 4.0). You are free to use, adapt, and share these materials in your own classroom, with attribution. Suggested citation: Hirs-Garzón, J. (2026). Macro Lab: Interactive Modules for Intermediate Macroeconomics (ECON 410).
I work at the intersection of academic research and economic policymaking, producing analysis that informs fiscal and monetary policy debates in Latin America and beyond. My policy-oriented work — published primarily through the Inter-American Development Bank (IDB) — focuses on fiscal rules, sovereign risk, public investment, and macrofiscal outcomes. I am a member of the Economics Research Network of the Colombian Central Bank.
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