Publications

“Indebtedness and labor risk sorting across consumer lender types in Chile,” Journal of Banking Regulation, 2024, forthcoming.

"The impact of macroprudential policies on industrial growth", BIS preprint,  BCCh preprint, Journal of International Money and Finance, 2024, 103106.

“The origins of monetary policy disagreement: the role of supply and demand shocks” (with Joao Madeira and Paulo Monteiro), Review of Economics and Statistics, 2024, forthcoming. Presentation at the Forward Guidance Workshop University of Oxford. Faculti interview. Preprint in the BIS, U. of York and Central Bank of Chile. Mentioned in the VoxEU, SUERF Policy Briefs, Central Banking newsdesk, Mondo Visione news, AE-News Brazil, and the Grand blog.

"The effect of the Covid pension withdrawals and the Universal Guaranteed Pension on the income of the future retirees and its fiscal costs", Latin American Journal of Central Banking, 2024, 5(3), 100122.

“Tiered Access in RTGS: a DLT-based approach” (with Miguel Musa, Raúl Morales-Resendiz, Miguel Cárdenas, Mario Sanclemente and León Sanz), Latin American Journal of Central Banking, 2024, 5(1), 100116.

"The Role of Sovereign Green Bonds in Chile’s Development" (with Andrés Pérez), Georgetown Journal of International Affairs, October 16 2023. Mentioned in ISI Emerging Markets Group.

“The impact of the Covid pandemic public policies in Chile on consumption”, Economía LACEA Journal, 2023, 22(1), 71–95. Codes.

"The evolution of macroprudential policy use in Chile, Latin America and the OECD," Journal of Banking Regulation, 2023, 24(3), 357-380, https://doi.org/10.1057/s41261-022-00202-7. Preprint. Codes. Research Digest of the Central Bank of Chile (December 2022, pdf, pdf in Spanish).

"Labor Market Flows: Evidence from Chile Using Micro Data from Administrative Tax Records" (with Elías Albagli, Alejandra Chovar, Emiliano Luttini, Alberto Naudón and Matias Tapia), Latin American Journal of Central Banking, 2023, 100102.

"The Impact of Monetary Policy on a Labor Market with Heterogeneous Workers: The Case of Chile" (with Leonardo Salazar), Latin American Journal of Central Banking, 2023, 4(2), 100092. Codes.

"Exposures to climate change's physical risks in Chile" (with Magdalena Cortina), Latin American Journal of Central Banking, 2023, 4(2), 100090. Codes. Research Digest of the Central Bank of Chile (August 2023, pdf, pdf in Spanish). Mentioned in Diario Financiero.

"The evolution of consumption inequality and risk-insurance in Chile", Emerging Markets Review, 2023, 54, 100996. Codes.

“Adverse selection, loan choice and default in the Chilean consumer debt market”, Financial Innovation, 2023, 9, 49. Research Digest of the Central Bank of Chile (December 2019, in English, in Spanish). Codes. Preprint (DTBC). Codes for the Preprint.

"The impact of the Chilean pension withdrawals during the Covid pandemic on the future savings rate", Journal of International Money and Finance, 2022, 126, 102650. Codes. Mentioned in the LSE Blog and the Reporte Platense.

"A review of the future impact of climate change in Chile: economic output and other outcomes", Mitigation and Adaptation Strategies for Global Change, 2022, 27,  56. https://doi.org/10.1007/s11027-022-10034-5. Codes.

"The impact of climate change on economic output across industries in Chile" (with Karla Hernández), PLOS One, 2022, 17(4): e0266811. Summary in the Central Bank of Chile's Research Digest of April of 2022 (English, Spanish). Codes. Research Digest of the Central Bank of Chile (April 2022, pdf, pdf in Spanish).

"Climate change's impact on real estate prices in Chile" (with Karla Hernández and Roberto Luna), PLOS Sustainability and Transformation, 2022, 1(11): e0000035. Codes.

"The impact of financial literacy on the quality of self-reported financial information" (with Paula Margaretic), Journal of Behavioral and Experimental Finance, 2022, 34, 100660. Codes.

“The double impact of deep social unrest and a pandemic: Evidence from Chile”, Canadian Journal of Economics, 2022, 55(S1), 135-171. Online appendix. Preprint. Codes, Faculti interview. Mentioned in Diario Financiero.

“Partial identification of non-linear peer effects models with missing data”, Swiss Journal of Economics and Statistics, 2022, 158, 15. Codes.

“Assessing the quality of self-reported debt information in household surveys” (with Paula Margaretic, Felipe Martínez and Pedro Roje), Journal of Survey Statistics and Methodology, 2022, 10(5), 1183–1210. Codes.

“The potential impact of financial portability measures on mortgage refinancing: Evidence from Chile”, Journal of International Money and Finance, 2021, 117, 102455. Preprint. Appendix available. Codes.

“The long term impact of policy reforms on Chilean savings and pensions”, Journal of the Economics of Ageing, 2021, 19, 100326. Codes. Codes RG.

“Learning your own ability”, Journal of Economic Dynamics and Control, 2020, 121, 104026. Preprint. Mentioned in Diario Financiero (September, 2021). Codes. Codes RG.

“The effect of FOMC votes on financial markets” (with Joao Madeira), Review of Economics and Statistics, 2019, 101(5), 921-932. Mentioned in The Guardian, UK Stock Market Almanac and SmartKnowledgeU blog. Appendix. Online Appendix. Codes.

“The impact of interest rate ceilings on households' credit access: Evidence from a 2013 Chilean legislation”, Journal of Banking and Finance, 2019, 106, 166-179. DTBC. Mentioned in Diario Financiero (September, 2019) and other Chilean financial media  (January, 2012). Codes. Codes RG.

“Measuring the covariance risk of consumer debt portfolios”, Journal of Economic Dynamics and Control, 2019, 104, 21-38. Codes. Codes RG.

“Testing the rationality of expectations of qualitative outcomes”, Journal of Applied Econometrics, 2018, 33(6), 837-852. Kudos Summary. One of the Top downloaded articles in the JAE for 2017-2018. Codes.

“Explaining the cyclical volatility of consumer debt risk using a heterogeneous agents model: The case of Chile”, Journal of Financial Stability, 2018,  39,  209-220. Research Digest of the Central Bank of Chile (March 2016, pdf). Codes. Codes RG.

“Heterogeneous inflation expectations and learning” (with Basit Zafar), Journal of Money, Credit and Banking, 2015, 47(5), 867-896. Codes. Codes RG.

Notes / Letters

"The Role of Sovereign Green Bonds in Chile’s Development" (with Andrés Pérez), Georgetown Journal of International Affairs, October 16 2023.

“The effects of the job retention program during the Covid pandemic on the Chilean firms and households” (with José Ignacio Cristi), Applied Economics Letters, 2023, 30(6), 766-771. Codes. Preprint.

“The impact of the Covid public policies on Chilean households”, Applied Economics Letters, 2021, 28(18), 1562-1565. Preprint. Research Digest of the Central Bank of Chile (December 2020, pdf, pdf in Spanish). Codes.

Handbook chapters / Literature reviews

"Use of Financial Instruments among the Chilean households", 2023, in: Alphonse, P., Bouaiss, K., Grandin, P., Zopounidis, C. (eds) Essays on Financial Analytics. Lecture Notes in Operations Research. Springer, Cham. Preprint. Codes.

"The role of financial surveys for economic research and policy making in emerging markets" (with Sofía Gallardo), 2022, in Handbook of Banking and Finance in Emerging Markets, chapter 36, 676–686. Preprint.

Publications (in Spanish, peer-reviewed, indexed in IDEAS, Scimago, WoS)

"Una revisión del impacto económico del cambio climático en Chile versus otros países: pérdida del PIB, productividad laboral, agricultura, costos en salud y políticas fiscales", Estudios Públicos, 2022, 168, 7-36. Lead article. Codes.

“Computing population weights for the EFH survey”, Economía Chilena, 2019, 22(1), 4-26. Codes.

“Repayment prioritization of consumer loans in Chile /  Priorización de pago de deudas de consumo en Chile: el caso de Bancos y Casas Comerciales”, Economía Chilena, 2018, 21(1), 118-132. Codes.

“FinTech and Central Banking at a Crossroads / Fintech y la banca central en la encrucijada” (co-authored with Pablo Furche, Mario Marcel and Carlos Medel), Estudios Públicos, 2017, 148(1), 39-78, in Spanish and in English.

“Book review: The Courage to Act by Ben Bernanke”, Economía Chilena,  2016, 19(2), 172-180.

“Motivations of households’ indebtedness in Chile / Motivaciones del endeudamiento en las familias chilenas”, Economía Chilena, 2015, 18(1), 90-106. Codes.

“The impact of indebtedness and unemployment risk on the loan delinquency of Chilean families / El Impacto del Endeudamiento y Riesgo de Desempleo en la Morosidad de las Familias Chilenas”, Economía Chilena, 2014, 17(1), 88-102. Research Digest of the Central Bank of Chile (June 2014, pdf). Codes.

“Mortgage renegotiation of Chilean families / Gestión Hipotecaria de las Familias Chilenas” (with Víctor Pérez), Economía Chilena, 2013, 16(2), 122-133. Codes.

Dissertation

“Estimating the beliefs of economic agents”, 2009, PhD (Economics), Northwestern University, Evanston, IL, USA. ProQuest link. Chair and Co-Chair: Elie Tamer and Sergio Urzúa. Committee members: Elie Tamer, Sergio Urzúa,  Chris Taber.