Working Papers:

  • "The income balance in the current account: external adjustment channel or vulnerability amplifier?" with Alberto Behar

    • Presented at the IMF

    • We investigate the role of income balance in stabilizing or destabilizing the current account over the cycle and in crises. Additionally, we measure the interaction of the income balance and the current account external adjustment.

    • This study is conducted for the IMF. Draft available after the peer-review process at the IMF.

  • "Uncertainty, FX Risk Premia, and Gross Flows of Capital"

    • How do local or common (global) shocks to uncertainty (level of second moments) impact the flow of capital by residents and foreigners?

  • Income Inequality and the Cross-section of Expected Returns (2020)