Welcome to my web page!
I am an economist with 14 years of international experience in central banking (International Monetary Fund, European Central Bank, Bank of England, Banco de Portugal, Norges Bank). I currently work in the Macrofinancial unit in the Strategy, Policy and Review Department of the International Monetary Fund. I am interested in empirical macroeconomics, monetary policy, and the linkages between private debt, financial stability, and the real economy.
I am also a Guest Associate Professor at the Faculty of Economics - University of Coimbra (FEUC), with an affiliation with the Centre for Business and Economics Research (CeBER).
Contact:
International Monetary Fund709 19th Street, NWWashington, D.C. 20431BAlbuquerque@imf.orgbrunoalbuquerque19@yahoo.comRecent working papers
The housing supply channel of monetary policy (with Martin Iseringhausen and Frédéric Opitz), IMF Working Paper WP/24/23, February 2024.
> [Latest version]
> Summary: SUERF Policy Brief
The zombie lending channel of monetary policy (with Chenyu Mao), IMF Working Paper WP/23/192, September 2023.
> [Latest version]
> Summary: VoxEU
> Media Coverage: InterConnectedness Newsletter 2023 Halloween, Klement on Investing blog
The rise of the walking dead: zombie firms around the world (with Roshan Iyer), IMF Working Paper WP/23/125, June 2023. R&R at the Journal of International Economics
> [Latest version] [Dataset]
> Summary: VoxEU
> Media Coverage: Financial Times, CNBC (video, article), Bloomberg (Newsletter, Opinion), The Washington Post, Barron's, NACM, Instituto + Liberdade (in Portuguese), InterConnectedness Newsletter (2023Q3, 2023 Halloween), Portuguese Economy Research report
Selected publications
Role of government policies in smoothing borrowers’ spending during stress: Evidence from UK mortgage moratoria (with Alex Varadi), IMF Economic Review, accepted.
> [Online appendix] [WP version]
> Summary: VoxEU and Bank Underground blog
Corporate debt booms, financial constraints, and the investment nexus, Journal of Applied Econometrics, accepted.
> [Online appendix] [WP version] [Replication codes]
> Summary: VoxEU and Bank Underground blog
Changing supply elasticities and regional housing booms (with Knut Are Aastveit and André Anundsen), Journal of Money, Credit, and Banking 55(7), 1749–1783, 2023.
> [Online Appendix] [WP version] [Replication codes]
> Summary: VoxEU and Bank Underground blog
> Media coverage: The Economist (I), (II), (III), (IV), Marginal Revolution
One size fits all? Monetary policy and asymmetric household debt cycles in U.S. states, Journal of Money, Credit and Banking 51(5), 1309-1353, 2019.
> [Online appendix] [WP version] [Replication codes]
Debt overhang and deleveraging in the US household sector: gauging the impact on consumption (with Georgi Krustev), Review of Income and Wealth 64(2), 459-481, 2018.