CV, Research and Teaching

Selected Publications:

1. Venzke, J. L. S. ; Ely , R. A. ; Teixeira, Anderson M. ; Beppler, L. S. . Effect of macroprudential instruments on the composition of bank revenue. REVISTA BRASILEIRA DE FINANÇAS: RBFIN = RBFIN: BRAZILIAN FINANCE REVIEW, v. 23, p. 1-29, 2025. [final version ].

2. Ely, R. A. ; Tabak, Benjamin M. ; Teixeira, Anderson M.. The transmission mechanisms of macroprudential policies on bank risk. ECONOMIC MODELLING, v. 94, p. 598-630, 2021. [final version ].

3. Scalco, Paulo, R., Tabak, Benjamin M., Teixeira , Anderson, M. 2021.  Prudential measures and their adverse effects on bank competition: The case of Brazil. Economic Modelling , v. 100, p. 105495, 2021. [final version ].

This list includes some selected recent publications. For the full list of my publications you can access my Curriculum Lattes: .

CV 

lattes.cnpq.br/9677215890206565 

Working Papers:

1. Systemic risk and the interaction between monetary and macroprudential policies, with Lucas Souza Beppler(UFPEL), Regis A. Ely (UFPEL) e Benjaminn M. Tabak (FGV).  R&R - Economic Modelling.   43th Meeting of the Brazilian Econometric Society, 2023, 

2.  Impact of Macroprudential Policies on Credit Default Rates Among Brazil's Micro and Small Enterprises. with Lucas Souza Beppler(UFPEL), Regis A. Ely (UFPEL). Submitted. Anais do 52º Encontro Nacional de Economia. Rio de Janeiro: anpec, 2024 

3. Macroeconomia Regional: Uma Aplicação de um modelo DSGE para o Estado de Goiás, com Celso José Costa Junior (UEPG) e Márcio Francisco da Silva. R&R - Economia Aplicada.Brazilian Journal of Applied Economics. Anais 50º Econtro Nacional de Economia, 2022 

4. The Interplay Between Macroprudential Policy and Inflation-Targeting Regimes: Evidence on Credit Growth Dynamics, with Bruna Fernandes (UnB), Regis A. Ely (UFPEL), Daniel O. Cajueiro (UnB). First Draft  Available upon request.

5.   Fiscal Triggers and Debt-Aware Macroprudential Policy, (with Celso J. Costa-Junior - UEPG/Brazil and  Alejandro C. Garcia-Cintado  - Pablo de Olavide University (Spain) ). 47th Meeting of the Brazilian Econometric Society, December, 2025.azilian Econometric Society – SBE 

Brazilian Econometric Society – SBE 

Work in Progress:

1. Fiscal Shocks, Shadow Banking and Macroprudential Policy: Interactions and Implications for Financial Stability,   with Celso J. Costa-Junior - UEPG/Brazil and  Alejandro C. Garcia-Cintado  - Pablo de Olavide University (Spain) )

This study investigates the interactions between fiscal triggers, shadow banking, and macroprudential policy in a DSGE framework with heterogeneous financial intermediaries. We extend the standard models by incorporating both traditional and shadow banks to assess how fiscal shocks transmit through credit, investment, and household responses. Our approach highlights the regulatory asymmetry between sectors, showing how  shadow banking can amplify fiscal stimulus while also increasing financial vulnerabilities. We further explore the roles of macroprudential regulation and monetary policy in moderating these effects. The expected results will provide  that effective policy coordination can enhance the stabilizing effects of fiscal interventions while mitigating systemic risks, offering new insights into the design of integrated fiscal-financial policy frameworks.

2. Fiscal Triggers and Policy Effectiveness in Repo Markets: A Quantitative General Equilibrium Analysis , with Celso J. Costa-Junior - UEPG/Brazil and  Alejandro C. Garcia-Cintado  - Pablo de Olavide University (Spain) )

This study quantitatively evaluates how fiscal shocks influence financial stability and the effectiveness of policy interventions in repurchase (repo) markets. Using a stochastic, quantitative, general general equilibrium model with banks, non-bank intermediaries, and sovereign bonds as collateral, we analyze how fiscal issuance and credibility shocks affect repo capacity, haircuts, and funding conditions. The framework allows for the assessment of fiscal, monetary, and macroprudential policy interactions under stress scenarios. Calibrated with macro-financial data, the simulations show that fiscal credibility shocks significantly dampen monetary policy transmission, amplify credit contractions, and increase regulatory leakage to shadow banking. The results provide actionable insights for designing coordinated fiscal and macroprudential frameworks to enhance the financial resilience. 

3. Fiscal Policy, Collateral, and Shadow Banking: DSGE Model Evidence on Heterogeneous Financial Intermediation, with Celso J. Costa-Junior - UEPG/Brazil and  Alejandro C. Garcia-Cintado  - Pablo de Olavide University (Spain) )

4. Green Financial Policies and "Green Arbitrage", (with Shaker Ahmed - Surrey Business School  (UK) and Jonathan Williams - Surrey Business School (UK)).

5. Macroprudential Policies and Leakages of Loans and Profitability: Traditional Banks to Non-Bank Financial Intermediation (NBFI), (with Shaker Ahmed  - Surrey Business School (UK) and  Jonathan Williams - Surrey Business School  (UK).