Journal Articles
“Taxes and Income Distribution in Chile. Some Unpleasant Redistributive Arithmetic'', with Eduardo Engel and Alexander Galetovic, Journal of Development Economics, 59 (1), June 1999, 155-92.
“Impuestos y Distribución del Ingreso en Chile. Es regresivo el IVA?'' (Taxes and Income Distribution in Chile. Is the VAT regressive?), with E. Engel and A. Galetovic, Perspectivas en Política, Economía y Gestión, 2, 333-345, 1999.
“A Note on Enforcement Spending and VAT Revenues'', with E. Engel and A. Galetovic, Review of Economics and Statistics, 83 (2), May 2001, 384-87.
“Impuestos y distribución del ingreso en Chile. Un poco de aritmética redistributiva desagradable”, with E. Engel and A. Galetovic, El Trimestre Económico, 280, 745-790, 2003.
“Liquidity Needs and Vulnerability to Financial Underdevelopment” Journal of Financial Economics, 80, 677-722, 2006.
“Poverty Traps, Aid and Growth” (joint with Aart Kraay), Journal of Development Economics, 82 (2), 315-347, March 2007.
“Are external shocks responsible for the instability of output in low income countries?” Journal of Development Economics, 84 (1), 155-187, September 2007.
“Trade Liberalization, Capital Account Liberalization, and the Real Effects of Financial Development” (joint with Matias Braun), Journal of International Money and Finance, 26 (5), September 2007, Pages 730-761.
“The structural determinants of external vulnerability” (joint with Norman Loayza). World Bank Economic Review 21 (3), 359-387, October 2007.
“The politics of Financial Development: Evidence form trade liberalization”, (joint with Matías Braun), Journal of Finance, 63 (3), June 2008.
“The composition of growth matters for poverty alleviation” (joint with Norman Loayza). Journal of Development Economics, 93 (2010), pp. 137-151
“Banking on Politics”, (joint with Matias Braun), World Bank Economic Review, 24 (2), 234-279. 2010.
“Credit Chains and Sectoral Comovement: Does the Use of Trade Credit Amplify Sectoral Shocks?” Review of Economics and Statistics, 92 (4), 985-1003. November 2010.
“Multilateral Debt Relief Through the Eyes of Financial Markets”, Review of Economics and Statistics, November 2011.
“On the International Transmission of Shocks: Micro Evidence from Mutual Funds Portfolios”, Journal of International Economics, 88 (2), 357-374, 2012.
“Deconstructing Herding: Evidence from Pension Fund Investment Behavior” (joint with Sergio Schmukler). Journal of Financial Services Research, 43 (1), 99-126. 2013.
"Sudden Stops and Financial Frictions: Evidence from Industry Level Data" (joint with Kevin Cowan), Journal of International Money and Finance, 32, 99-128. 2013.
“Fiscal Responses after Catastrophes and the Enabling Role of Financial Development” (joint with Martin Melecky), The World Bank Economic Review, 29 (1), 129-149. 2015.
“Institutional Investors and Long-term Investment: Evidence from Chile,” (joint with Luis Opazo and Sergio Schmukler), The World Bank Economic Review, 29 (3), 479-522. 2015.
“Liquidity Constraints, Competition, and Markup Cyclicality” (joint with Matías Braun), Financial Management, forthcoming, 2016. doi: 10.1111/fima.12121
“Comparative advantage, international trade, and fertility,” (joint with Quy Toan Do and Andrei Levchenko), Journal of Development Economics, vol. 119(C), 2016, pages 48-66
“International Asset Allocations and Capital Flows: The Benchmark Effect” (joint with Sergio Schmukler and Tomás Williams), Journal of International Economics, vol. 108, 2017, pages 413-430.
“The Riskiness of Credit Allocation and Financial Stability”, (joint with Luis Brandao-Marques, Qianying Chen, Jerome Vandenbussche, and Peichu Xie), Journal of Financial Intermediation, 51, July 2022.
“The Good, the Bad, and the not so Ugly of Credit Booms? Capital Allocation, and Financial Constraints”, (joint with Matias Braun and Francisco Marcet), Journal of Banking and Finance, forthcoming.