Damiano Sandri

Work in Progress

• "The Open-Economy ELB: Contractionary Monetary Easing and the Trilemma," with P. Cavallino, CEPR DP 14683. REVISED

• "The Global Financial Cycle and Liquidity Management," with O. Jeanne, NBER WP 27901, CEPR DP 15328 . NEW

• "FX Intervention to Stabilize or Manipulate the Exchange Rate? Inference from Profitability" IMF WP 20/90, CEPR DP 14897. NEW

• "Dampening Global Financial Shocks: Can Macroprudential Regulation Help (more than Capital Controls)?" with K. Bergant, F. Grigoli, and N. Hansen, IMF WP 20/106, CEPR DP 14948. VoxEU NEW

• "Protecting Lives and Livelihoods with Early and Tight Lockdowns," with F. Caselli, F. Grigoli, and W. Lian, IMF WP 20/234. VoxEU NEW

• "Mobility under the COVID-19 Pandemic: Asymmetric Effects across Gender and Age," with F. Caselli, F. Grigoli, and A. Spilimbergo. NEW

• "Lending Rate Caps in Emerging Markets," with G. Joaquim.

Journal Articles

• "Optimal Reserves in Financially Closed Economies," with O. Jeanne, Journal of International Money and Finance, 104: 102178, 2020.

• "Dealing with Systemic Sovereign Debt Crises: Fiscal Consolidation, Bail-ins or Bail-outs?," IMF Economic Review, 66(4): 665-693, 2018. VoxEU

• "Unconventional Monetary Policies in the Euro Area, Japan and the UK," with G. Dell'Ariccia and P. Rabanal. Journal of Economic Perspectives, 32(4): 147-172, 2018. Brookings Event

• "Capital Controls or Macroprudential Regulation?," with A. Korinek, Journal of International Economics, 99(s1): 27-42, 2016.

• "Growth and Capital Flows with Risky Entrepreneurship," American Economic Journal: Macroeconomics, 6(3): 102-123, 2014.

• "Financial Crises and Recapitalizations," with F. Valencia, Journal of Money, Credit and Banking, 45(s2): 59-86, 2013.

• "Macro-Hedging for Commodity Exporters," with E. Borensztein and O. Jeanne, Journal of Development Economics, 101: 105-116, 2013. VoxEU

• "The Eurozone Crisis: How Banks and Sovereigns Came to be Joined at the Hip," with A. Mody, Economic Policy, 27(70): 199-230, 2012. VoxEU

• "Precautionary Savings in the Great Recession," with A. Mody and F. Ohnsorge, IMF Economic Review, 60(1): 114-138, 2012. VoxEU

• "Measuring Distortions to Agricultural Incentives, Revisited," with K. Anderson et al., World Trade Review, 7(4): 675-704, 2008.

• "Distortions in Farmer Prices since the 1950s: South Africa in International Perspective," with K. Anderson et al., Agrekon, 46(4): 427-459, 2007.

Policy Papers

• "The Great Lockdown: Dissecting the Economic Effects," with F. Caselli, F. Grigoli, and W. Lian, World Economic Outlook, Chapter 2, October 2020. IMF blog

• "Dampening Global Financial Shocks in Emerging Markets: Can Macroprudential Regulation Help?" with K. Bergant, F. Grigoli, and N. Hansen, World Economic Outlook, Chapter 3, April 2020. IMF blog

• "An Early View of the Economic Impact on the Pandemic in 5 Charts," with J. Bluedorn and G. Gopinath, IMF Blog April 6th 2020.

• "Structural Reform Priorities for Brazil," with N. Biljanovska, IMF Working Paper No. 18/224 , 2018. Analytical Corner presentation

• "Trade-offs in Bank Resolution," Staff Discussion Note 18/02, February 2018. Analytical Corner presentation

• "Negative Interest Rate Policies - Initial Experiences and Assessments," IMF Policy Paper for the Executive Board, August 2017.

• "Ukraine, Selected Issues: Corruption and Growth," IMF Country Report No.17/84, April 2017.

• "Monetary Policy and Financial Stability," IMF Staff Report to the Executive Board, September 2015.

• "The Fund's Lending Framework and Sovereign Debt - Further Considerations ," IMF Staff Report to the Executive Board, April 2015.

• "How Delaying Fiscal Consolidation Affects the Present Value of GDP," with K. Fletcher, IMF Working Paper No. 15/52, 2015.

• "The Fund's Lending Framework and Sovereign Debt - Preliminary Considerations ," IMF Staff Report to the Executive Board, June 2014.

• "Credit Supply and Economic Growth," with A. Pescatori, World Economic Outlook, Box 1.1, Spring 2014.

• "Debt and Growth: Is There a Magic Threshold?," with A. Pescatori and J. Simon, IMF Working Paper No. 14/34, 2014.

• "The Yin and Yang of Capital Flow Management: Balancing Capital Inflows with Capital Outflows," with J. Benes, J. Guajardo and J. Simon, World Economic Outlook, Chapter 4, Fall 2013.

• "The Dog that Didn't Bark: Has Inflation Been Muzzled or Was It Just Sleeping?," with T. Matheson and J. Simon, World Economic Outlook, Chapter 3, Spring 2013.

• "The Good, the Bad, and the Ugly: 100 Years of Dealing with Public Debt Overhangs," with A. Pescatori and J. Simon, World Economic Outlook, Chapter 3, Fall 2012.

• "Precautionary Savings and Global Imbalances in World General Equilibrium," IMF Working Paper No. 11/122, 2011.

• "Current Account Rebalancing and Real Exchange Rate Adjustment between the U.S. and Emerging Asia," with I. Mejean and P. Rabanal, IMF Working Paper No. 11/46, 2011.

• "U.S. Consumption after the 2008 Crisis," with J. Lee and P. Rabanal, IMF Staff Position Note 10/01, 2010

Book Chapters

• "Agricultural Distortion Patterns since the 1950s: What Needs Explaining," with K. Anderson et al., Ch.2 in The Political Economy of Agricultural Price Distortions, 2010, Cambridge University Press

• "Distortions to Agricultural Incentives in Ecuador," with E. Valenzuela and S. Wong, Ch.7 in Distortions to Agricultural Incentives in Latin America, 2008, published by the World Bank, Washington DC

• "Methodology for Measuring Distortions to Agricultural Incentives," with K. Anderson et al., Appendix A in the Distortions to Agricultural Incentives volumes for Latin America (2008), Europe's Transition Economies (2008), Africa (2009), and Asia (2009), published by the World Bank, Washington DC

Last updated in November, 2020