Research
Publications
Monetary Policy Rules with Financial Instability - Joint with Ales Bulir and Martin Cihak - Czech Journal of Economics and Finance, 2011, Vol. 61, pp. 545-565.
Price Level Targeting and Inflation Targeting: a Review - Joint with Rodrigo Caputo - Revista de Economía Chilena, 2011, Vol. 14, pp. 55-67.
Optimal Fiscal Policy in a Small Open Economy with Limited Commitment - Joint with Francesco Caprioli - Journal of International Economics, 2014, Vol. 93(2), pp. 302-315.
Can a non-binding minimum wage reduce wages and employment? - Joint with Alexandre Janiak - Macroeconomic Dynamics, 2017, Vol. 21, pp. 2158-2169.
The macroeconomic consequences of raising the minimum wage: capital accumulation, employment and the wage distribution - Joint with Alexandre Janiak - European Economic Review, 2018, Vol. 101, pp. 57-76.
The Wealth Distribution in Developed and Developing Economies: comparing the U.S. to Chile using survey data from 2007 - Joint with Gonzalo Castex and Andrew Davis - Revista de Economía Chilena, 2019, Vol. 22, pp. 154-203.
Wicksellian rules and the Taylor principle: some practical implications - Joint with Rodrigo Caputo - The Scandinavian Journal of Economics, 2020, Vol. 122, pp. 340-368.
Capital controls and firm performance - Joint with Eugenia Andreasen and Evangelina Dardati - Journal of International Economics, 2024, Vol. 150.
Book Chapters
Macroeconomic and Financial Stability: an Overview - Joint with Lawrence Christiano and Claudio Raddatz - In Macroeconomic and Financial Stability: Challenges for Monetary Policy, edited by Sofia Bauducco, Lawrence Christiano and Claudio Raddatz - Series on Central Banking, Analysis and Economic Policy, Vol. 19, 2014.
Capital Flows, Macro-Prudential Policies and Capital Controls - Joint with Alvaro Aguirre and Diego Saravia - In Monetary Policy and Financial Stability: Transmission, Mechanisms and Policy Implications, edited by Alvaro Aguirre, Markus Brunnermeier and Diego Saravia - Series on Central Banking, Analysis and Economic Policy, Vol. 26, 2019.
Working Papers / Work in Progress
Working Papers / Work in Progress
Beware the Side Effects: Capital Controls, Trade, Misallocation and Welfare - Joint with Eugenia Andreasen, Evangelina Dardati and Enrique Mendoza - NBER WP 30963 - February 2023 - R&R Journal of Political Economy Macroeconomics.
On the welfare cost of bank concentration - Joint with Alexandre Janiak - April 2022 - Submitted.
Seigniorage and Distortionary Taxation in a Model with Heterogeneous Agents and Idiosyncratic Uncertainty