Research

Working papers

Financial Frictions and the Wealth Distribution (with Jesús Fernández-Villaverde and Samuel Hurtado), September 2019. [download]

A Framework for Debt-Maturity Management (with Saki Bigio and Juan Passadore), April 2019. [download] [slides] [Computer codes]

Monetary Policy and Sovereign Debt Sustainability (with Carlos Thomas), February 2019. [download] [Slides] [Video]

Optimal Monetary Policy with Heterogeneous Agents (with Carlos Thomas) , November 2017. [download] [Slides] [Summary] [NEP-DGE blog] [Note discussing discrete- and continuous-time optimal policy problems]

Publications

A Large Central Bank Balance Sheet? The Role of Interbank Market Frictions (with Oscar Arce, Dominik Thaler and Carlos Thomas) , February 2019. [download] [Slides] . Accepted at Journal of Monetary Economics.

Social Optima in Economies with Heterogeneous Agents, (with Benjamin Moll) [download] [Slides] [Replication code] Review of Economic Dynamics, 2018.

Bank Leverage Cycles, (with Carlos Thomas) [download][Online Appendix] [Replication code] [Media: Vox, WSJ blog] American Economic Journal: Macroeconomics, 2017.

Optimal Social Policies in Mean Field Games [download] [Read-only link] Applied Mathematics and Optimization (special issue on Mean Field Games), 2017.

Quantitative Effects of the Shale Oil Revolution, (with Cristiana Manescu) [download] [Replication code] Energy Policy, 2015.

Learning from Experience in the Stock Market, (with Anton Nakov) [download][Replication code] Journal of Economic Dynamics and Control, 2015 .

A Twin Crisis with Multiple Banks of Issue, (with Pedro Tedde and Alessio Moro) [download][Old version] European Review of Economic History, 2015 .

Saudi Arabia and the Oil Market, (with Anton Nakov) [download] [Replication code] [Media: Expansion, Cinco Días] Economic Journal, 2014.

Does TFP drive Housing Prices? A Growth Accounting Exercise for Four Countries, (with Alessio Moro) [download] Economics Letters, 2012.

Optimal Research and Development and the Cost of Business Cycles, [download] Journal of Economic Growth, 2011.

A New Location Estimation System for Wireless Networks based on Linear Discriminant Functions and Hidden Markov Models, (with José Manuel Páez) [download] EURASIP Journal on Applied Signal Processing, 2006.

A New Time-Hopping Multiple Access Comunication System Simulator: Application to Ultra-Wideband, (with José Manuel Páez) [download] EURASIP Journal on Applied Signal Processing, 2005.