Gideon Bornstein

Gideon Bornstein is an Assistant Professor of Finance at The Wharton School, University of Pennsylvania, and a Faculty Research Fellow at the National Bureau of Economic Research (NBER). His research bridges large-scale micro data with general equilibrium models to analyze macroeconomic dynamics.

Research Focus: Bornstein's work centers on Macroeconomics and International Macroeconomics, with a particular emphasis on household debt, financial frictions, and social insurance interactions with credit markets. His empirical studies leverage quasi-experimental Medicaid expansion data to quantify how public policies reshape borrowing behavior and welfare through credit supply chains.

Key Publications: Notable works include a 2023 Review of Economic Studies paper on oil market equilibrium models and 2025 working papers conditionally accepted at the American Economic Review regarding nonlinear pricing and aging economies. These studies span household debt, trade credit, sovereign debt, and consumer inertia in financial markets.

• National Science Foundation Grant (2021–2023), co-PI with Laura Castillo-Martinez for 'The Anatomy of Firm Exit: Theory and Facts'

Teaching: Currently instructs doctoral and advanced students in Topics in Macro Finance (FNCE9370), focusing on corporate/household/sovereign debt, asset pricing, and financial sector integration in macro models. Also teaches undergraduate-level Monetary Economics and International Finance.