Working Papers:

Beyond Bilateral Flows: Indirect Connections and Exchange Rates with Pasquale Della Corte, Daniele Massacci and Eduard Seyde 

LASH Risk and Interest Rates with Laura Alfaro, Robert Czech, Joe Hazell and Ioana Neamtu

The Global Network of Liquidity Lines​  with Marie Fuchs and Ricardo Reis

The Anatomy of a Peg: Lessons from China's Parallel Currencies with Ricardo Reis. Revisions Requested at the Journal of Political Economy.

The Market for Inflation Risk with Robert Czech, Sitong Ding and Ricardo Reis. Revisions Requested at the American Economic Review.

Publications:

Jumpstarting an International Currency with Ricardo Reis. Forthcoming in the Review of Economic Studies

Capital Requirements and Bank Lending with Chiara Lattanzio and Frederic Malherbe. Forthcoming in the Handbook of Macroprudential Policy.

Customer Data Access and Fintech Entry: Early Evidence from Open Banking with Tania Babina, Greg Buchak, Filippo De Marco, Angus Foulis, Will Gornall, Francesco Mazzola and Tong Yu. Journal of Financial Economics, Volume 169, July 2025

The Crossborder Effects of Bank Capital Regulation with Frederic Malherbe. Journal of Financial Economics, Volume 160, October 2024. 

Business Creation During Covid 19 with Sophie Piton and Anthony Savager, Economic Policy, Volume 39, Issue 119, July 2024, Pages 611–648. 

Lending Relationships and the Collateral Channel with Gareth Anderson, Matthieu Chavaz, Angus Foulis & Gabor Pinter, Review of Finance, Volume 27, Issue 3, May 2023, Pages 851–887 

The Workings of Liquidity Lines between Central Banks with Ricardo Reis,  ​​in The Research Handbook of Financial Markets, edited by Refet Gurkaynak and Jonathan Wright, Edward-Elgar, chapter 5, 102-124, May 2023

The Economics of Liquidity Lines between Central Banks with Ricardo Reis, Annual Review of Financial Economics, Volume 14, November 2022, pages 57-74

Employment and the Residential Collateral Channel of Monetary Policy  with Angus Foulis, Gabor Pinter and Paolo Surico, Journal of Monetary Economics, Volume 131, October 2022, Pages 26-44 

Central Bank Swaplines: Evidence on the Effect of the Lender of Last Resort with Ricardo Reis,  Review of Economic Studies, Volume 89, Issue 4, July 2022, Pages 1654–1693. 

The Forced Safety Effect: How Higher Capital Requirements Can Increase Bank Lending with Frederic Malherbe, Journal of Finance, Volume 75, December 2020, Pages 3013-3053.

Home Values and Firm Behaviour with Angus Foulis and Gabor Pinter, American Economic Review, Volume 110, No. 7, July 2020

Sovereign Spreads in the Euro Area: Cross Border Transmission and Macroeconomic Implications, Journal of Monetary Economics, Volume 110, April 2020, Pages 116-135  

Central bank swap lines during the Covid-19 pandemic, with Ricardo Reis, Covid Economics, Issue 2, April 2020. 

Macroprudential Policy Under Uncertainty with Angus Foulis, International Journal of Central Banking, September 2017, pp. 119-154