Publications
"The Micro and Macro Dynamics of Capital Flows", with Felipe Saffie and Kei-Mu Yi.
Conditionally Accepted in The Review of Economic Studies, March 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.
"Segmented Financial Integration", with Juan Carluccio, Working Paper, March 2026.
"Sticking To Their Guns: Short-Horizon Exchange Rate Expectations", with Lukas Kremens, CEPR Discussion Paper 21258, March 2026.
"Multinationals and Structural Change", with Vanessa Alviarez, Cheng Chen, Nitya Pandalai-Nayar, Kei-Mu Yi and Hongyong Zhang, NBER Working Paper 30494, January 2026.
"Five Facts about the UIP Premium", with Sebnem Kalemli-Ozcan, CEPR Discussion Paper 16244, last version August 2024.
"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.