Research
Published Articles
“Contracts, Firm Dynamics, and Aggregate Productivity,” with Bernabe Lopez-Martin, Journal of Economic Dynamics and Control, Vol 130, September 2021
“Optimal macroprudential policy and rational bubbles,” with Xavier Freixas, Journal of Financial Intermediation, Vol 46 (C), April 2021
“Optimal capital requirements with noisy signals on banking risk,” with Kai Ding and Enoch Hill, Economic Theory, Vol 71 (4), June 2021, pp 1649-1687
“Leverage dynamics and credit quality,” with Guillermo Ordoñez and Motohiro Yogo, Journal of Economic Theory, Vol 183, September 2019, pp 183-212
“Exchange rate effects of financial regulations,” with Mauricio Villamizar-Villegas, Journal of International Money and Finance, Vol 96, September 2019, pp 228-245
“Financial development and occupational choice,” with Enoch Hill, Journal of Macroeconomics, Vol 54 (B), December 2017, pp 393-409
“A theoretical approach to sterilized foreign exchange intervention,” with Mauricio Villamizar-Villegas, Journal of Economic Surveys, Vol 31 (1), February 2017, pp 343 - 365
Research Papers
“Managing skill premium through firm structure,” with Enoch Hill
“Macroprudential Regulation and Misallocation,” with Enoch Hill
“Leverage Away Your Wedge: An Analysis of Banks' Impact on Output,” with Enoch Hill
“El rol del Banco de la República en la crisis de 1999”
“Banking Limits on Foreign Holdings: Disentangling the Portfolio Balance Channel,” with Pamela Cardozo, Fredy Gamboa and Mauricio Villamizar-Villegas
“Public Law Enforcement: More is not Always Better,” with Enoch Hill
Research in Progress
"Financial development, trade and misallocation," with Filippo Rebessi
"Bank productivity, firm productivity and lending" with Angie Rozada Najar and Fausto Suaza
"Heterogeneous UIP Deviations Across Fimrs: Spillovers from U.S. Monetary Policy Shocks", with Miguel Acosta-Henao, Maria Alejandra Amado and Montserrat Marti
"Misallocative effects of informality", with Jose M. Quintero
"Maximum government debt with exchange rate risk", with Andres Zambrano
"The fiscal cost of ageing in a developing country", with Andres Zambrano
Chapters in Books
“The Case of Colombia,” with Daniel Osorio-Rodríguez. Chapter in A Monetary and Fiscal History of Latin America, 1960–2017, edited by Timothy J. Kehoe and Juan Pablo Nicolini, University of Minnesota Press, Minneapolis, MN, USA, 2021
“Historia del Banco de la República. Crisis de 1999.” Chapter in Historia del Banco de la República, 1923-2015, edited by José Darío Uribe Escobar, Banco de la República Colombia, La Imprenta Editores S. A., Bogotá, Colombia, 2017
“Applying CoVaR to Measure Systemic Market Risk: the Colombian Case,” with Mauricio Arias and Juan Carlos Mendoza. Chapter in Proceedings of the IFC Conference on "Initiatives to address data gaps revealed by the financial crisis", Basel, 25-26 August 2010, vol. 34, p. 351-364, Bank for International Settlements eds., 2011