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I am an economist working on macroeconomics, monetary policy and central banking.
My research examines how monetary policy transmits through the economy and how risk shapes its effects.
I am a Visiting Economist at the Bank for International Settlements. Previously, I was a Deputy Advisor at the Central Bank of Brazil and a lecturer at PUC-Rio.
I hold a Ph.D. in Economics from PUC-Rio. My thesis received the Haralambos Simeonidis 2022 prize for best Ph.D. thesis.
Email: eduardo.amaral@bis.org
Selected work
Selected work
The Capital Puzzle Is Not About Capital · 2026
Rethinking how to measure the monetary policy stance.
Selected work
Selected work
High public debt in the Americas: non-linear implications for risk premia and inflation expectations · 2026
High public debt and interest costs amplify the sensitivity of risk premia to fiscal deficits, and of short-term inflation expectations to risk premia. The findings underline the importance of fiscal discipline.
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