Publications
"The Micro and Macro Dynamics of Capital Flows", with Felipe Saffie and Kei-Mu Yi.
The Review of Economic Studies, June 2026.
"Long-Horizon Exchange Rate Expectations", with Lukas Kremens and Ian Martin.
Journal of Finance, 2025, Vol 80, 3695-3724.
"Firms, Currency Hedging and Financial Derivatives", with Laura Alfaro and Mauricio Calani.
Handbook of Financial Integration, Chapter 15, May 2024, 340:370.
"Exchange Rate Exposure and Firm Dynamics", with Juliana Salomao, [Appendix] [Slides] [Video: 2019 IMF Annual Research Conference]
The Review of Economic Studies, 2022, Vol 89, Issue 1: 481:514.
"Reallocation, Competition and Productivity: Evidence from a Financial Liberalization Episode", [Appendix] [Slides].
The Review of Economic Studies, 2018, Vol. 85, Issue 2: 1279:1313.
"Sector Heterogeneity and Credit Market Imperfections in Emerging Markets", [Appendix].
Journal of International Money and Finance. 2017. Vol 70: 433-451.
Current Research
"Financial Hedging Beyond Dominant Currency", with Laura Alfaro and Mauricio Calani, R&R in The Review of Economic Studies, CEPR Discussion Paper 16232, December 2025.
The Pembroke International Finance Prize for best paper at the Cambridge Symposium on FX Markets, 2026.
"Multinationals and Structural Change", with Vanessa Alviarez, Cheng Chen, Nitya Pandalai-Nayar, Kei-Mu Yi and Hongyong Zhang, R&R in the Journal of Monetary Economics, NBER Working Paper 30494, January 2026.
"Five Facts about the UIP Premium", with Sebnem Kalemli-Ozcan, Submission Requested Journal of International Economics- Special Issue, CEPR Discussion Paper 16244, last version August 2026.
"Heterogeneous Cross-Border Financial Allocations", with Juan Carluccio, Working Paper, September 2026.
"Sticking To Their Guns: Short-Horizon Exchange Rate Expectations", with Lukas Kremens, CEPR Discussion Paper 21258, March 2026.
Inactive Research
"Innovation and the Patterns of Trade: A Firm-Level Analysis" , with Ana Maria Santacreu, CAGE WP 404, February 2019.
"Export Elasticities and Balance Sheet Effects: How Do Depreciations Affect Export Choices?", April 2014.