Honoring Sovereign Debt or Bailing out Domestic Residents? Limits to Bailouts, Journal of International Economics, 114 (2018), 14-24.
Published version. Working paper
The Signaling Effect of Raising Inflation (with J. Barthélemy), Journal of Economic Theory, 178 (2018), 488-516.
Published version Working paper Slides
Institutional Quality and Capital Inflows: Theory and Evidence (with E. Challe and J. I. Lopez), Journal of International Money and Finance, 96 (2019), 168-191.
Published version Working Paper Slides (previously: Southern Europe's Institutional Decline: Old version)
Non-technical summary available at La Silla Vacia (in Spanish).
Forward Guidance and Heterogeneous Beliefs (with P. Andrade, G. Gaballo and B. Mojon), American Economic Journal Macroeconomics, 11 (3) , 1-29, July 2019.
Published version Working Paper Slides Coverage: Centralbanking, Reuters, Le Cercle/Les Echos.
Non-technical summary: ECB Research Bulletin.
Endogeneous Partial Insurance and Inequality, (with R. Pancrazi), Journal of European Economic Association, 18(5), 2270-2314, October 2020.
Published version Working paper (previously: the Inequality Accelerator)
Asset Purchase Bailouts and Endogenous Implicit Guarantees, Journal of International Economics, 142, 103737, May 2023.
Published version Working Paper Old version (Online appendix) Coverage: Centralbanking.
Non-technical summary: Knowledge@HEC
Myopic Fiscal Objectives and Long-Run Monetary Efficiency (with G. Gaballo), Journal of Monetary Economics, 136, 1-17, May 2023.
Published version Working paper Local file Slides
What Matters in Households' Inflation Expectations? (with P. Andrade and E. Gautier), Journal of Monetary Economics, 138, 50-68, September 2023.
Published version Working Paper Local pdf Slides Non-technical summary available on VoxEU and Knowledge@HEC
Time-Consistent Implementation in Macroeconomic Games (with J. Barthélemy) - Theoretical Economics, 19, 1119-1150, July 2024.
Published version Working paper
The Central Bank, the Treasury, or the Market: Which one Determines the Price Level? (with J. Barthélemy and G. Plantin) - Journal of Economic Theory, 220, 105885, September 2024.
Published version CEPR DP Slides Non-technical summary available on VoxEU. Coverage: NY Times La Tribune (French)
Fiscal Dominance: Implications for Bond Markets and Central Banking (with J. Barthélemy and G. Plantin), Annual Review of Financial Economics, in press.
Labor market polarization and the Great Divergence: Theory and Evidence (with Donald R. Davis and Tomasz Michalski) - CEPR discussion paper 14623 and NBER working paper 26955, July 2023. NBER WP CEPR DP
Non-technical summary available on Knowledge@hec VoxEU LinkedIn Op-ed: Les Echos. Coverage: L'Opinion
Knowledge Workers and Firm Capabilities (with Tomasz Michalski) - CEPR discussion paper 18863, February 2024. CEPR DP Working paper
Households' Beliefs about Fiscal Dominance (with Philippe Andrade, Erwan Gautier, Emanuel Mönch and Tobias Schmidt) - CEPR discussion paper 19862, January 2025, revised June 2025. CEPR DP Working paper
A State Theory of Price Levels (with J. Barthélemy and G. Plantin), August 2025. Draft
Foreign Debt and Ricardian Equivalence, november 2013 - available upon request.
Do Investment shocks explain business cycle fluctuations? (with Jean Barthélemy), January 2015 - available upon request.
A Tight Sufficient Condition for Recursive Formulation of Dynamic Implementation Problems (with George Lukyanov) - available upon request.
Monetary Rules, Determinacy and Limited Enforcement (with Jean Barthélemy) - available upon request.
Public Liquidity Demand and Central Bank Independence (with J. Barthélemy and G. Plantin) - CEPR discussion paper 14160, November 2019, revised June 2020. Working Paper -- Non-technical summary available on VoxEU .