Working papers

Spending the fuel dividend: Subsidy reform during an exchange-rate adjustment (with Edilean Kleber da Silva Bejarano Aragon). Submitted.

Macroeconomic stabilization under FX scarcity (with Edilean Kleber da Silva Bejarano Aragon). (Online appendix). Submitted.

Fire sales beyond banks: Fiscal news, leveraged non-bank investors, and sovereign bond-market stress. Submitted.

Credit-market segmentation, monetary transmission, and fiscal-financial stress in a small open economy (with Bruno Ferreira Frascaroli and Karlos Rafael Soares Alves). Submitted. (Supplementary material).

Tourism booms, rent control, and renter welfare:  A threshold characterization. R&R.

Sovereign risk weights, bank capital floors, and monetary transmission (with Celso J. Costa Junior and Anderson M. Teixeira). Submitted.

The Salter–Swan model: Internal devaluation, exchange-rate regimes, and comparative statics  (with Miguel Lebre de Freitas). In progress.

The sovereign cost of first populist entry  (with Martin Elinov, Petar Stankov and Tapas Mishra). In progress.

Reform sequencing after fiscal-financial crises: Bank repair, fiscal consolidation, and organizational capital (with Edilean Kleber da Silva Bejarano Aragon). In progress.

Fiscal triggers and debt-aware macroprudential policy (with Celso J. Costa Junior and Anderson M. Teixeira). in progress. (slides).

(Non)True inflation targeting and bounded memory (with Celso J. Costa Junior). In progress.

When climate meets fiscal dominance: Inflation and debt dynamics (with Kleiton Sousa da Silva). In progress.

The long arm of the government on the economic activity: Insights from US government shutdowns (with Celso J. Costa Jr., Karlo Marques Junior, and Benedetto Molinari). In progress.

Digging underground: The fiscal cost of informality in Spain  (with Mario Solís-García and Jesús Rodríguez-Lopez). In progress.

Is Bitcoin effective in mitigating sanctions? A DSGE analysis (with Celso J. Costa Junior and David Tercero Lucas). In progress.