Research

Curriculum Vitae (November 2023)       Google Scholar Citations       Researchgate


Do Corporate Bond Shocks Affect Commercial Bank Lending?, with Alexander Hoffmaister.
IMF Working Paper  156, August 2023.

When should Macroprudential Capital Buffers be Released?, with Roland Meeks.

Financial Contagion in Denmark: A Multi-layered Network Approach, with Birgitte Vølund Buchholst, Mehmet Ziya Gorpe, Karen Holm Laursen, and Giorgio Mirone.


1. When Banks Punch Back: Macrofinancial Feedback Loops in Stress Tests, with Alexander Hoffmaister,
Journal of International Money and Finance, June 2022.

2. Bank Capital and Lending: Evidence of Nonlinearity from Indonesia, with Alexander Hoffmaister, and Cicilia Anggadewi Harun,
 Journal of Asian Economics, May 2020.

3. A Tradeoff between the Output and Net Foreign Asset Effects of Pension Reform, with Nicolas Magud,
Open Economies Review, January 2017.

4. Market Discipline and Conflicts of Interest between Banks and Pension Funds, with Adolfo Barajas,
Journal of Financial Intermediation, July 2015.

5. On the Optimality of Bank Capital Requirement Policy in a Macroeconomic Framework, with Eduardo Ganapolsky,
Journal of Applied Economics, November 2014. (Online appendix)

6. Challenges for Systemic Risk Assessment in Low Income Countries, with Dimitri Demekas,
Journal of Risk Management in Financial Institutions, February 2015. (Brookings blog)

7. Coping with Spain’s Aging: Retirement Rules and Incentives, with Alexander Hoffmaister and Jaime Guajardo,
Journal of Pension Economics and Finance, October 2010.

8. Dealing with Global Aging and Declining World Interest Rates: Fiscal Costs and Pension Reform in Small Open Economies,
with Alexander Hoffmaister and Jaime Guajardo,
Pensions: An International Journal, August 2010.

9. Addressing the Macroeconomic Consequences of Aging in Cyprus: The Case for Pension Reform, with Alexander Hoffmaister and Jaime Guajardo,
Cyprus Economic Policy Review, May 2007. 

10. Pension Funds and Corporate Governance in Developing Countries: What do We Know and What do We Need to Know?
Journal of Pension Economics and Finance, July 2004.

11. Contractual Savings or Stock Market Development-Which Leads?, with Gregorio Impavido and Alberto Musalem.
Journal of Applied Social Science Studies, August 2000.

 


1. Geopolitics and Financial Fragmentation: Implications for Macro-financial Stability, co-led with Tomohiro Tsuruga. Co-authors: Max-Sebastian Dovi, Salih Fendoglu, Oksana Khadarina, Junghwan Mok, Tatsushi Okuda, Hamid Reza Tabarraei, and Mustafa Yenice.
 IMF Global Financial Stability Report, Chapter 3, April 2023.  

Also published as chapter 10 in CEPR book on "Geoeconomic Fragmentation: The Economic Risks from a Fractured World Economy," edited by Shekhar Aiyar, Andrea Presbitero, and Michele Ruta, October 2023.

2. France, Germany, Italy and Spain: Explaining Differences in External Sector Performance Among Large Euro Area Countries,  with Celine Allard, Luc Everaert and Silvia Sgherri. In “Exchange Rate Analysis in Support of IMF Surveillance: A Collection of Empirical Studies” edited by Carlos Cottarelli, Rex Ghosh, Gian Maria Milesi-Ferretti, and Charalambos Tsangarides, IMF, 2008.

3. Pension and Corporate Governance Reforms: Are They Twins?,  In “Pension Fund Governance: A Global Perspective on Financial Regulation”
edited by John Piggott, Michael Orszag and John Evans, Edward Elgar Publishing, 2008.

 

Endogenous Bank Runs, mimeo,
Department of Economics, University of California, Los Angeles, October 2000.

The Duration of Employment and Unemployment in Tucumán, mimeo.
B.A. Honors Thesis, National University of Tucumán.
Cronista Comercial Award in Economics, Argentina, April 1996.