Research
Current Research Grants
Typhoon Effects on Enterprises in the Philippines, Researcher Project for Early Career Scientists, funded by Norwegian Research Council (8 million NOK), 2025–2029
Can Responsible Investment Induce Sustainable Corporate Behavior? Evidence from the World’s Largest Equity Investor, Project Leader, funded by Norwegian Finance Market Fund (4.7 million NOK), 2023–2027
Silenced Airwaves: Media as Democratic Infrastructure, Project Leader, funded by Oslo Metropolitan University (890.000 NOK), 2027–2028
Working Papers
[3] Catalytic Divestment: The World’s Largest Investor’s Exit from Coal and Global Emissions, with Marco Castelluccio (Bank of Italy) and Jonas Hjort (UCL)
[2] The Labor Market Impact of Occupation-Specific Technical Change: Inspecting the Mechanisms, with Simon Galle (BI Norwegian Business School)
[1] Business Education and Individual Portfolios: Evidence from Norwegian College Openings, with Jørgen Modalsli and Dan Zhang (Oslo Business School)
Journal Articles
[9] Reproducibility and Robustness of Economics and Political Science Research, Nature (with Brodeur et al.). 2026 [working paper version] [replication files]
[8] Entertainment-Education for Better Health: Insights from a Field Experiment in India, Journal of Development Studies. 2024 [working paper version] [replication files]
[7] The Effects of COVID-19 Policies on Consumer Spending in Norway, Contemporary Economic Policy (with Dan Zhang and Laurens Swinkels). 2023 [working paper version][replication files]
[6] Less Conflict, More Food Security: A Case Study of Cauca, Colombia (in Norwegian), Internasjonal Politikk (with Nury Bibian Bejarano). 2023. [English version]
[5] Age of Marriage and Women’s Political Engagement: Evidence from India, Journal of Politics (with Francesca R. Jensenius). 2021 [working paper version] [replication files]
[4] The Causal Mechanism of Financial Education: Evidence from Mediation Analysis, Journal of Economic Behavior & Organization (with Bilal Zia). 2020 [working paper version][replication files]
[3] How Do Droughts Impact Household Food Consumption and Nutritional Intake? A Study of Rural India, World Development. 2019 [working paper version] [replication files]
[2] The ABCs of Financial Literacy: Experimental Evidence on Attitudes, Behavior, and Cognitive Biases, Management Science (with Shawn Cole, Jeremy Shapiro, and Bilal Zia). 2017 [working paper version] [replication files]
A subset of the analysis in this paper was previously circulated as Unpacking the Causal Chain of Financial Literacy, World Bank Policy Research Working Paper No. 5798. 2011.
[1] Liability Structure in Small-scale Finance: Evidence from a Natural Experiment, World Bank Economic Review (with Shawn Cole, Jeremy Shapiro, and Bilal Zia). 2013 [working paper version]
Book Chapter
[1] “Microfinance for Entrepreneurs,” in The Oxford Handbook of Entrepreneurial Finance (with Miriam Bruhn and Bilal Zia). 2012 [working paper version]
Opinion Article & Reports
[5] Carpena, F., Galle, S. & Sabarillo, A. (2026). Better data, better policy: The case for a Philippine Business ID. Business World. https://bworldonline.com/opinion/2026/07/20/764391/better-data-better-policy-the-case-for-a-philippine-business-id/
[4] Access to Food in Cauca, Colombia: Descriptive Patterns from the 2011 National Quality of Life Survey. Chapter 4 in Food for Security: Mapping Mechanisms of Food Security and Conflict in Cauca, Colombia. SIFO Project Report, 2021.
[2] Customs Capacity Building for WCO Members: 2012-2015, Norwegian Institute of International Affairs, Report No. 2018-1 (with Roman Vakulchuk). 2018.
[1] Revealing Demand for Pro-Poor Innovations, USAID White Paper (with Guillaume Kroll, Ishita Ghosh, Emmanuel Letouze, Javier Rosa, and Prithi Trivedi). 2014.
Teaching
ØAMET 4100, Oslo Business School
Econometrics (MBA)
Nominated for Teacher of the Year (university-wide), Oslo Metropolitan University, 2019
Course Materials (Spring 2019)
Lecture 1: Introduction, Review of Probability, Review of Statistics [Notes A, Notes B, Worksheet A, Worksheet B]
Lecture 2: Linear Regression with One Regressor [Notes A, Notes B, Worksheet A, Worksheet B]
Lecture 3: Linear Regression with Multiple Regressors [Notes A, Notes B, Worksheet A, Worksheet B]
Lecture 4: Non-Linear Regressions and Interactions, Regressions with Binary Dependent Variables [Notes A, Notes B, Worksheet A, Worksheet B]
Lecture 5: Assessing Studies Based on Multiple Regression, Internal and External Validity [Notes, Worksheet]
Lecture 6: Panel Data [Notes, Worksheet]
Lecture 7: Instrumental Variables [Notes, Worksheet]
Lecture 8: Experiments and Quasi-experiments, Differences-in-Differences [Notes, Worksheet]
Lecture 9: Introduction to Time Series [Notes, Worksheet]
Lecture 10: Introduction to Time Series (continued), Additional Topics in Time Series [Notes, Worksheet]
Lecture 11: Additional Topics in Time Series (continued) [Notes, Worksheet]
Lecture 12: Review [Practice Exam]
ØAMET 2200, Oslo Business School
Business Decision-Making Using Data (Undergraduate)
New course in quantitative methods for the Bachelor Program in Economics and Business Administration
Course Materials (Fall 2019)
Lecture 1: Introduction and Review [Slides, Worksheet]
Lecture 2: Samples and Surveys, Sampling Variation and Quality [Slides, Worksheet]
Lecture 3: Confidence Intervals, Statistical Tests [Slides, Worksheet]
Lecture 4: Comparison [Slides, Worksheet]
Lecture 5: Linear and Curved Patterns [Slides, Worksheet]
Lecture 6: Simple Regression Model, Regression Diagnostics [Slides, Worksheet]
Lecture 7: Multiple Regression [Slides, Worksheet]
Lecture 8: Building Regression Models [Slides, Worksheet]
Lecture 9: Categorical Explanatory Variables [Slides, Worksheet]
Lecture 10: Time Series [Slides, Worksheet]
Lecture 11: Review [Practice Exam]
ECON 140, University of California – Berkeley
Economic Statistics and Econometrics (Undergraduate)
Outstanding Graduate Student Instructor, UC Berkeley Graduate Division, 2015
Section Notes (Spring 2016)
Section 1: Random variables [Notes, Handout, Solutions]
Section 2: Normal distribution, sampling, LLN, CLT [Notes, Handout, Solutions]
Section 3: Estimation and testing of means [Notes, Handout, Solutions]
Section 4: Linear regression with one regressor [Notes, Handout, Solutions, Stata Example]
Section 5: Inference in linear regression [Notes, Handout, Solutions, Regression Output]
Section 6: Linear regression with multiple regressors [Handout, Solutions]
Section 7: Single and joint tests of coefficients [Handout, Solutions, Stata Example]
Section 8: Nonlinear regressors, interactions, dummies [Handout, Solutions]
Section 9: Internal and external validity; panel data [Handout, Solutions]
Section 10: Linear probability model, probit, logit [Handout, Solutions]
Section 11: Instrumental variables [Handout, Solutions, Stata Example]
Section 12: Experiments and quasi-experiments; final exam review [Handout, Solutions]
EWMBA 296, University of California – Berkeley
Data and Decisions (Evening and Weekend MBA)
Earl F. Cheit Award for Excellence in Teaching, Haas School of Business, 2016
Section Notes (Fall 2015)
Section 0: Random variables and their probability distribution; normal distribution [Slides]
Section 1: Samples and surveys; sampling methods [Slides]
Section 2: Sampling distribution of the mean; control limits; confidence intervals; margin of error [Slides]
Section 3: Basic concepts of hypothesis testing; one-sided tests [Slides]
Section 4: Linear and curved patterns [Slides]
Section 5: Simple regression; multiple regression [Slides]
Section 6: Building regression models [Slides]
Section 7: Categorical variables [Slides]
Section 8: Final exam review [Slides]
Contact
fenella [dot] carpena [at] oslomet [dot] no
MAILING ADDRESS
Oslo Business School
Oslo Metropolitan University
PO Box 4, St. Olavs plass
0130 Oslo, Norway
OFFICE ADDRESS
Pilestredet 35, PE737
Oslo, Norway