ACADEMIC PUBLICATIONS
Information Spillovers in Sovereign Debt: Theory Meets the Eurozone Crisis
(with Hal Cole and Daniel Neuhann)
Review of Economic Studies. 92(1): 197-237. (2025).
Technological Progress and Rent Seeking
(with Vincent Glode)
Review of Financial Studies. 38(4): 1259–1289. (2025).
The Collateral Link Between Volatility and Risk Sharing
(with Sebastian Infante)
Journal of Monetary Economics. 149: 103693. (2025).
Information Dynamics and Macro Fluctuations
(with Kyriakos Chousakos and Gary Gorton)
AEJ: Macroeconomics. 15: 372-400. (2023).
Asymmetric Information and Sovereign Debt: Theory Meets Mexican Data
(with Hal Cole and Daniel Neuhann)
Journal of Political Economy. 130: 2055-2109. (2022).
Saving Rates and Savings Ratios
(with Facundo Piguillem)
Review of Economic Dynamics. 46: 365-381. (2022).
Sovereign Debt Auctions In Turbulent Times
(with Hal Cole and Daniel Neuhann)
AEA Papers and Proceedings. 112: 526-530. (2022).
The Supply and Demand for Safe Assets
(with Gary Gorton)
Journal of Monetary Economics. CRNYU. 125: 132-147. (2022). [older version]
Fighting Crises with Secrecy
(with Gary Gorton)
AEJ: Macroeconomics. 12(4): 218-245. (2020) [appendix]
Political Booms, Financial Crises
(with Helios Herrera and Christoph Trebesch)
Journal of Political Economy. 128(2): 507-543. (2020) [appendix]
Good Booms, Bad Booms
(with Gary Gorton)
Journal of the European Economic Association. 18(2): 618-665. (2020).
Corona Politics: The cost of mismanaging pandemics
(with Helios Herrera, Max Konradt and Christoph Trebesch)
Covid Economics: 50: 3-33. (2020).
Leverage Dynamics and Credit Quality
(with David Perez-Reyna and Motohiro Yogo)
Journal of Economic Theory. 183: 183-212. (2019). [appendix]
Confidence Banking and Strategic Default
Journal of Monetary Economics. 100: 101-113. (2018). [appendix]
Sustainable Shadow Banking
AEJ: Macroeconomics. 10(1): 33-56. (2018).
Global Information Spillovers.
(with Kyriakos Chousakos and Gary Gorton)
Monetary Policy and Global Spillovers: Mechanisms, Effects and Policy Measures
ed. Enrique Mendoza, Ernesto Pasten and Diego Saravia. Central Bank of Chile. v. 25, 137-181. (2018).
Banks as Secret Keepers
(with Tri Vi Dang, Gary Gorton and Bengt Holmstrom)
American Economic Review. 107(4): 1005-1029. (2017). [appendix]
Network Reactions to Banking Regulations
(with Selman Erol)
Journal of Monetary Economics. CRNYU. 89: 51-67. (2017). [appendix]
Deceptive Redistribution
(with Simeon Alder)
Review of Economic Dynamics. 22: 223-239. (2016). [appendix]
Uncertainty as Commitment
(with Jaromir Nosal)
Journal of Monetary Economics. 80: 124-140. (2016). [appendix]
Optimal Regulation in the Presence of Reputation Concerns
(with Andrew Atkeson and Christian Hellwig)
Quarterly Journal of Economics. 130(1): 415-464. (2015). [continuous time version]
Collateral Crises
(with Gary Gorton)
American Economic Review. 104(2): 343-378. (2014). (lead article). [appendix]
The Asymmetric Effects of Financial Frictions
Journal of Political Economy. 121(5): 844-895. (2013). [appendix]
Fragility of Reputation and Clustering of Risk-Taking
Theoretical Economics. 8(3): 653-700. (2013).
Reputation from Nested Activities
Economic Theory. 52 (3): 915-940. (2013).
Which Workers Get Insurance Within the Firm?
(with David Lagakos)
Journal of Monetary Economics. 58: 632-645. (2011).
The EMU Effect on Trade: What’s in it for the UK?
(with Alejandro Micco and Ernesto Stein)
Prospects for Monetary Unions After the Euro.
ed. P. de Grawe and J. Melitz, MIT Press, 155-186. (2005).
The Currency Union Effect on Trade: Early Evidence from the European Union
(with Alejandro Micco and Ernesto Stein)
Economic Policy, 18(37): 315-356. (2003)
Financial Liberalization and Growth: Does it Pay to Join the Party?
(with Arturo Galindo and Alejandro Micco)
Economia, 3(1): 231-261. (2002)
Fiscal Evasion and Corruption: The Importance of Priorities (in Spanish)
Revista de Analisis Economico, 16(2) 43-76. (2001)
OTHER PUBLICATIONS
Banking History of the United States (in Spanish).
Actualidad Economica. 110: 11-21. (2023).
Propagacion de Informacion entre Paises.
(with Kyriakos Chousakos and Gary Gorton)
Economia Chilena. 20: 90-127. (2017).
Comment on ’Credit Market Frictions and Political Failure’ by Aney, Ghatak and Morelli.
Carnegie-Rochester-NYU Conference Series on Public Policy.
Journal of Monetary Economics. 81: 65-69. (2016).
Policies and Training Programs for Small Firms (in Spanish)
CINTERFOR/ILO – Montevideo, Uruguay, (2006).
Good Jobs Wanted: Labor Markets in Latin America – IPES 2003
IADB Research Department Annual Book. Washington, DC, (2003).
Beyond Borders: The New Regionalism in Latin America – IPES 2002
IADB Research Department Annual Book. Washington, DC, (2002).
Elements for a Labor Education Strategy in Central America (in Spanish)
European Union – IADB. Cinterfor Documents. Montevideo, Uruguay, (1999).
Import Quotas and Welfare: The Case of the Mercosur Automobile Industry
(with Jose Delfino and Maria Eugenia Delfino)
Studies, IEF-UNC, 30. (1998).