She completed her Ph.D. in economics at the University of California, Los Angeles in 2003. Her master’s degree at Fundação Getúlio Vargas, in Brazil, resulted in the thesis “Credibility and Public Debt Management: A Case Study of Brazil,” awarded a National Prize in Economics by Banco Nacional de Desenvolvimento Econômico e Social (BNDES) and later published as a book. Professor Llussá has conducted research at the Harvard Institute for International Development; on geography, institutions, and state growth in Brazil; and her current research interests, including the effect of aggregate shocks on institutions and economic growth, have resulted in several publications in refereed journals.