Policy papers

"The financing of Portuguese SME" (with Cláudia Custódio and Clara Raposo), Fundação Francisco Manuel dos Santos, 2022.

"Heterogeneity in loan pricing: the role of bank capital" (with Luísa Farinha and Leonor Queiró) , 2021

"A renewed two-pillar framework for assessing the risks to price stability" (with João Valle e Azevedo and Carlos Martins), 2021

"The effect of corporate bond purchases by the ECB on firms’ borrowing costs", Banco de Portugal Economic Studies, 6(3), 2020 (with André Capela)

"Deposit Insurance and Cross-Border Banks", ifo DICE Report 1/2019 (Spring): Deposit Insurance (with João Valle e Azevedo)

"Credit and the economy: lessons from a decade of research at Banco de Portugal", Banco de Portugal Economic Studies, 5(1), 2019 (with Luísa Farinha and Sónia Félix)

"GDP-linked bonds: design, effects, and way forward" (with David Pereira), Banco de Portugal Economic Studies, 4(1), 2018.

"Spillovers of prudential policy across borders: Evidence for Portugal" (with Sónia Costa), Banco de Portugal Economic Studies, 3(3), 2017.

"Contigency funding plans" (with Sandra Pinheiro), in "Liquidity Risk Management and Supervision: A Guide to Better Practice", Iman van Lelyveld, Paul Hilbers and Clemens Bonner (editors), Risk Books, 2015.

"Operationalising the countercyclical capital buffer: indicator selection, threshold identification and calibration options" (with C. Detken et al.), ESRB Occasional Paper No.5/2014.

"Early warning indicators of banking crises: Exploring new data and tools" (with António Antunes, Nuno Monteiro and Paulo Rodrigues), Economic Bulletin, Banco de Portugal, April 2014.

"The implementation of the countercyclical capital buffer: rules versus discretion" (with Nuno Monteiro), Financial Stability Report November 2013, Banco de Portugal, 2013.

"Is there a risk-taking channel of monetary policy in Portugal?" (with Carla Soares), Financial Stability Report May 2013, Banco de Portugal, 2013.

"Systemic liquidity risk" (with Moshe Kim), Financial Stability Report November 2012, Banco de Portugal, 2012.

"Estimating the impact of bank mergers: an application to the Portuguese banking system" (with Pedro Pita Barros, Moshe Kim and Nuno C. Martins), Financial Stability Report May 2011, Banco de Portugal, 2011.

"Access to bank credit after corporate default" (with Daniel Dias and Christine Richmond), Financial Stability Report November 2010, Banco de Portugal, 2010.

"Bank relationships and borrowing costs" (with Qinglei Dai and Francesco Franco), Financial Stability Report May 2010, Banco de Portugal, 2010.

"Capital structure decisions in the Portuguese corporate sector" (with Paula Antão), Financial Stability Report, Banco de Portugal, 2008.

"Credit risk drivers: evaluating the contribution of firrm level information and macroeconomic dynamics", Financial Stability Report, Banco de Portugal, 2006.

"Policies promoting technological innovation" (with Hugo Viseu), in Technological Innovation and Employment: the Portuguese case, Isabel Salavisa Lança and Ana Cláudia Valente (coords.), IQF, 2005.

"Determinants of bank's financing costs in the bond market" (with Carlos Santos), Financial Stability Report, Banco de Portugal 2004.

"Cyclical behaviour of the Portuguese Economy: 1953-1995" (with Pedro Duarte Neves), Economic Bulletin, Banco de Portugal, June 2002.