Research - Pablo D'Erasmo
Working Papers
On Balance Sheet Spillovers from Nonbanks to Banks [December 2023]
with Dean Corbae and Kuan Liu
Banking Industry Dynamics Across Time and Space [August 2023]
with Dean Corbae
Regulating Clearing in Networks [November 2022]
with Selman Erol and Guillermo Ordoñez
Measuring Climate Transition Risk at the Regional Level with an Application to Community Banks [Dec 2023]
with Mitchell Berlin, SungJe Byun, and Edison Yu (R&R European Economic Review)
Structural Stress Tests [Jan 2018]
with Dean Corbae, Sigurd Galaasen, Alfonso Irarrazabal and Thomas Siemsen
with Dean Corbae
Government Reputation and Debt Repayment [Feb 2011]
Investment and Firm Dynamics [April 2014]
(R&R Economic Inquiry)
Publications
Banking Regulation with Risk of Sovereign Default [March 2024]
with Igor Livshits and Koen Schoors (forthcoming Journal of International Economics)
The Bank Lending Channel Across Time and Space [July 2023]
with Dean Corbae Heterogeneity in Macroeconomics: Implications for Monetary Policy
edited by Ernesto Pasten and Gianluca Violante
Market Concentration in Fintech [March 2023]
with Dean Corbae and Kuan Liu, Fintech Competition: Law, Policy, and Market Organization
edited by Konstantinos Stylianou, Marios Iacovides, and Bjorn Lundqvist
Bloomsbury-Hart
with Dean Corbae, Econometrica, Vol 89 (6).
(prev. circulated as "Capital Requirements in a Quantitative Model of Banking"with Dean Corbae, The Review of Economic Studies, Vol 88 (5).
with Enrique Mendoza, Journal of Monetary Economics, Vol 117.
(prev. circulated as "Optimal Domestic (and External) Sovereign Default"Rising Bank Concentration [2020]
with Dean Corbae Journal of Economic Dynamics and Control, Vol 115.
with Hernan Moscoso Boedo, Maria Pia Olivero and Maximo Sangiacomo, IMF Economic Review, Vol 68 (3).
with Ryan A. Decker and Hernan Moscoso Boedo, American Economic Journal Macroeconomics, Vol. 8 (1), pp 148-98.
(previously circulated as "Intangible Expenses and Endogenous Firm Volatility over the Business Cycle")
with Enrique Mendoza, Journal European Economic Association Vol 14 (1), pp. 7-44.
with Enrique Mendoza and Jing Zang, Handbook of Macroeconomics Volume 2 (B) John B. Taylor, Harald Uhlig (Editors).
Economia, The Journal of LACEA, Vol 16 (2), pp. 143-199.
with Dean Corbae, IMF Economic Review Vol 63 (4), pp. 830-867.
with Hernan Moscoso Boedo and Asli Senkal, Journal of Economic Dynamics and Control Vol 42, pp 122-14
with Hernan Moscoso Boedo, Journal of Monetary Economics Vol 59, 3, pp 286-302.
with Dean Corbae and Burhan Kuruscu, Journal of Monetary Economics Vol 56, 1, pp 43-61
Non Refereed Publications
Are Higher Capital Requirements Worth It? [2018 Quarter 2]
Federal Reserve Bank of Philadelphia, Economic Insights (Second Quarter).
Media Coverage: "Forcing climate mandates on banks will stifle access to affordable credit," The Hill, February 2022 [link].
Federal Reserve Bank of Philadelphia, Banking Trends (First Quarter)
Media Coverage: "Mounting commercial real estate losses threaten banks, recovery," Washington Post, Nov 2020 [link].
Federal Reserve Bank of Philadelphia, Research Brief
Measuring the Effects of a Carbon Tax [2024]
with Gabriel Butler, Federal Reserve Bank of Philadelphia, Economic Insights (First Quarter)
Work in Progress
Sovereign Default Risk and Bank Balance Sheets [Dec 2016]
with Emine Boz and Bora Durdu
Deb Deleveraging, Unemployment, and Macroprudential Policy
with Javier Bianchi and Enrique Mendoza