Research

Publications in Peer-Reviewed Journals

1. "How Large is the Sovereign Greenium?" (with Chenxu Fu, Francisco Roch, Ursula Wiriadinata), Oxford Bulletin of Economics and Statistics (2024)

2. "An Alternative Proof of Minimum Trace Reconciliation," (with Futoshi Narita), Forecasting (2024)

3. "Systematizing Macroframework Forecasting: High-Dimensional Conditional Forecasting with Accounting Identities," (with Taehoon Kim), IMF Economic Review (2023)

4. "Watch What They Do, Not What They Say: Estimating Regulatory Costs from Revealed Preferences," (with Adrien Alvero, Kairong Xiao), Review of Financial Studies (2023)

5. “Reserve Currencies in an Evolving International Monetary System,” (with Alina Iancu, Gareth Anderson, Ethan Boswell, Andrea Gamba, Shushanik Hakobyan, Lusine Lusinyan, Neil Meads, Yiqun Wu), Open Economies Review (2023)

6. "Size-Dependent Policies and Risky Firm Creation," Journal of Public Economics (2021)

   • [Moriguchi Prize] [ISER WP]

7. "Intensive Margin of the Volcker Rule: Price Quality and Welfare," (with Misaki Matsumura), Journal of Financial Intermediation (2020)

   • [The FinReg blog by Duke law GFMC]

8. "Constrained Inefficiency of Competitive Entrepreneurship," (with Misaki Matsumura), Journal of Mathematical Economics (2020)

9. "Measuring US Sectoral Shocks in the World Input-Output Network," Economics Letters (2014)

IMF Working Papers

1. "Smooth Forecast Reconciliation," 2024

2. "High-Dimensional Covariance Matrix Estimation: Shrinkage Toward a Diagonal Target," (with Mingmei Xiao), 2023

3. "How Large is the Sovereign Greenium?" (with Chenxu Fu, Francisco Roch, Ursula Wiriadinata), 2023

4. "Debt Mutualization in the Euro Area: A Quantitative Exploration," (with Giovanni Dell'Ariccia, Pierre-Olivier Gourinchas, Guido Lorenzoni, Adrian Peralta, Francisco Roch), 2023

   • [VoxEU Column]

5. "An Alternative Proof of Minimum Trace Reconciliation," (with Futoshi Narita), 2022

6. "Systematizing Macroframework Forecasting: High-Dimensional Conditional Forecasting with Accounting Identities," (with Taehoon Kim), 2022

7. "Watch What They Do, Not What They Say: Estimating Regulatory Costs from Revealed Preferences," (with Adrien Alvero, Kairong Xiao), 2022

8. "Productivity in the Netherlands," 2020

9. "Do FDI Firms Employ More Workers than Domestic Firms for Each Dollar of Assets?" (with Mengxue Wang), 2020

10. "International Financial Connection and Stock Return Comovement," 2019

11. "Indexing Structural Distortion: Sectoral Productivity, Structural Change and Development," (with Koffie Nassar), 2017

Other Working Papers

12. "Sovereign Debt Restructuring and Reduction in Debt-to-GDP Ratio," (with Tamon Asonuma, Prachi Mishra, Alexandre Sollaci)

13. "Fiscal Consolidation and Public Debt," (with Prachi Mishra, Nikhil Patel, Adrian Peralta-Alva, Andrea Presbitero)