Capital flows at risk: push, pull and the role of policy
Journal of International Money and Finance, Elsevier, vol. 147, 2024.
Joint with Cian O'Neill, Andrej Sokol and Lukas von dem Berge.

ECB working paper n.2538 (updated version), Bank of England Staff Working Paper no. 881.  
Related Bank Underground blog post here.

Global banks and synthetic funding: the benefits of foreign relatives

Journal of Money, Credit and Banking, Wiley, vol. 56, 2024.

Joint with Matias Ossandon Busch and Dennis Reinhardt.
Bank of England Staff Working Paper no. 762.

Online appendix here. VoxEU column here. 

Attention to the tail(s): global financial conditions and exchange rate risks

IMF Economic Review, Springer, vol. 70, 2022. 

Joint with Andrej Sokol.

Bank of England Staff Working Paper n. 882 / ECB working paper n. 2387.

Online appendix here. Related Bank Underground blog post here.

No-arbitrage pricing of GDP-linked bonds
Journal of Banking and Finance, Elsevier, vol. 126, 2021.

Joint with Andrew Meldrum and Wen Yan.

Bank of England Staff Working Paper n. 849
Related Bank Underground blog post here. Bloomberg coverage here.

Foreign booms, domestic busts: The global dimension of banking crises

Journal of Financial Intermediation, Elsevier, vol. 37, 2019, pp. 58-74.

Joint with Ambrogio Cesa-Bianchi and Gregory Thwaites.

Bank of England Staff Working Paper n. 644 / CfM Discussion Paper no. 1708.

Related Vox EU blog post here. Related Bank Underground blog post here.

Exchange rate regimes and current account adjustment: An empirical investigation

Journal of International Money and Finance, Elsevier, vol. 65(C), 2016, pp. 69-93.

Bank of England Staff Working Paper n. 544. 

Related Bank Underground blog post here. Wall St. Journal coverage here.

Targeted financial conditions indices and growth-at-risk
Bank of England Staff Working Papers, no. 1,084 (July 2024)
Joint with Sevim Kosem, Guido Maia and Andrej Sokol. 

Dash for dollars
Bank of England Staff Working Papers, no. 932 (July 2021, updated April 2023)
Joint with Ambrogio Cesa-Bianchi and Robert Czech. 

Related Bank Underground blog post here.

Dollar shortages and central bank swap lines

Bank of England Staff Working Papers, no. 879 (July 2020)
Related Bank Underground blog post here.