Journal Articles

Lending standards and output growth. 2025, Journal of Financial Stability, Vol. 76, 101351.
Coverage: [NY Times], [IMF Chart of the Week], [IMF GFSR April 2018 Chapter 2] 

What Private Equity Does Differently: Evidence from Life Insurance (with Natasha Sarin). 2024, Review of Financial Studies,  Vol. 37, Issue 1, pp. 201–230.
Coverage: [NY Times], [Bloomberg], [BIS Quarterly Review September 2024]

When gambling for resurrection is too risky, 2024. Journal of Banking & Finance, Vol. 162, 107125.

What are reference rates for?, 2022. Journal of Banking & Finance, Vol. 144, 106635.

Why do bank-dependent firms bear interest-rate risk?, 2020. Journal of Financial Intermediation, Vol. 41, 100823. 

Book Chapters

India's Banks: Lending to Productive Firms?, 2023 (with Siddharth George, Soledad Martinez Peria, and Rajesh Vijayaraghavan), in India's Financial System: Building the Foundation for Strong and Sustainable Growth (eds: Alfred Schipke, Jarkko Turunen, Nada Choueiri, and Anne-Marie Gulde-Wolf). [IMF WP 22/73]

Working Papers

Credit and Innovation: Evidence from India (with Siddharth George, Herman Lange, Soledad Martinez Peria, and Rajesh Vijayaraghavan), December 2024.

Mitigating climate change at the firm level: Mind the laggards (with Damien Capelle, Nicola Pierri, and Germán Villegas Bauer), November 2024. [IMF WP 23/242] Coverage: [IMF October 2023 WEO Chapter 1], [IMF October 2023 GFSR Chapter 3], [IMF April 2024 Fiscal Monitor Chapter 2] [IMF Italy 2023 Article IV Staff Report] [IMF Canada 2024 Article IV Staff Report] [IMF Germany 2024 Article IV Staff Report] [IMF Turkey 2024 Article IV Staff Report]

The Insurer Channel of Monetary Policy (with Akshat Singh), October 2024.

ESG Investing: Only Part of the Climate Puzzle (with Dalya Elmalt and Deniz Igan), April 2024. [IMF WP 21/112] [CEPR DP 16061][CEPR e-book on climate][VoxEU]  Coverage: [IMF podcast][A Correction podcast][Callaway Climate Insights]

What Policy Combinations Worked? The Effect of Policy Packages on Bank Lending during COVID-19 (with Soledad Martinez Peria, Prachi Mishra, and Jan Strasky), April 2024. [IMF WP 23/25] [CEPR DP 17880] Coverage: [IMF blog]

Policy Pieces and Datasets

Fund Diversity Policies, Diversity Characteristics, and Economist Promotions (with Christian Bogmans and Evgenia Weaver), June 2024. [Box 1 in 2022-2023 IMF Diversity & Inclusion Report]

Banks' Joint Exposure to Market and Run Risk (with Alexander Copestake and Yang Liu), September 2023. [IMF WP 23/200]

Tracking Economic and Financial Policies during COVID-19: An Announcement-Level Database (with Yang Liu, Soledad Martinez Peria, Prachi Mishra, and Jan Strasky), June 2022. [IMF WP 22/114] [Public dataset] [CEPR DP 17879]

The Disconnect between Financial Markets and the Real Economy (with Deniz Igan and Sole Martinez Peria), August 2020. [IMF Special Series on COVID-19]

Impact of COVID-19 on Insurers (with Mu Yang Shin), May 2020 [IMF Special Series on COVID-19] [VoxEU]

IMF Saudi Arabia 2019 Article IV Staff Report, September 2019. [IMF Country Report No. 19/290]

Policies to Drive Diversification for Saudi Arabia (with input from Nahla Samargandi), September 2019. [IMF Country Report No. 19/291]

IMF Qatar 2019 Article IV Staff Report, June 2019. [IMF Country Report No. 19/146]

Policies to Drive Diversification for Qatar, June 2019. [IMF Country Report No. 19/147]

Gulf Cooperation Council: How Developed and Inclusive are Financial Systems in the GCC? (with  Nabil Ben Ltaifa, Ali Alreshan, Aidyn Bibolov, Anta Ndoye, and Erik Roos), December 2018. [IMF Policy Paper]

IMF Saudi Arabia 2018 Article IV Staff Report, August 2018. [IMF Country Report No. 18/263]

Permanent Working Papers

How Do Changing U.S. Interest Rates Affect Banks in the Gulf Cooperation Council (GCC) Countries? (with Olumuyiwa S Adedeji and Yacoub Alatrash), December 2019. [IMF WP 19/268]

How is the likelihood of fire sales in a crisis affected by the interaction of various bank regulations? (with Vijay Narasiman), March 2017. [IMF WP 17/68]