Research

Published and Accepted Papers

Wealth Accumulation, On the Job Search, and Inequality (with Shouyong Shi), 2022, Journal of Monetary Economics. [WP version]

Sovereign Debt and Credit Default Swaps (with Grey Gordon, Bruno Sultanum, and Elliot Tobin), 2024, Journal of International Economics.

Sovereign Risk and Economic Activity: The Role of Firm Entry and Exit (with Givi Melkadze and Ia Vardishvili)[draft] - Accepted at JPE Macro

Working Papers

Sovereign Debt, Default Risk, and the Liquidity of Government Bonds [draft] - R&R at AEJ Macro

The Roots of Self-fulfilling Debt Crises (with Grey Gordon and Bruno Sultanum) - Draft coming soon (preliminary draft available upon request)

Accounting for Credibility:  Monetary-Fiscal Interactions and the Credibility of Central Bank Mandates (with Luigi Bocola, Alessandro Dovis and Rishabh Kirpalani) [slides]

Work in Progress

Terms of Trade Shocks and the Duration of Sovereign Default Episodes

Labor Market Frictions, Wealth Effects, and Portfolio Allocation (with Ben Griffy)

Optimal monetary policy in a model with a non-degenerate distribution of money holdings (with Gent Bajraj)

Other Writings

GameStop, AMC and the Self-Fulfilling Beliefs of Stock Buyers (with Grey Gordon and Bruno Sultanum), 2021, Richmond Fed Economic Brief 21-13. [draft]

Evolution of a Small Open Emerging Economy's External Vulnerability: Evidence for Chile (with Markus Kirchner), 2013, Central Bank of Chile Working Paper N. 683. [draft]

A Reassessment of Flexible Price Evidence Using Scanner Data: Evidence from an Emerging Economy (with Miguel Fuentes, Felipe Labbé, and Alberto Naudon), 2011, Central Bank of Chile Working Paper N. 641. [draft]

Discussions

Sovereign Debt Auctions with Strategic Interactions, by Ricardo Alves Monteiro and Stelios Fourakis, IMF-ECB Workshop on Fiscal Policy and Sovereign Debt, 2025. [slides]

On the Mechanics of Fiscal Inflation, by Marco Bassetto, Luca Benzoni and Jason Hall, New Challenges for Fiscal and Monetary Policy @ U Miami, 2025. [slides]

Sovereign Risk, Firm Financing and International Trade, by E. Andreasen, D. Kohn and G. Sandleris, International Finance/Macro/Trade Conference, 2024. [slides]

Fiscal Consequences of the US War on COVID, by George Hall and Thomas Sargent, IMF Conference on Fiscal Policy in an Era of High Debt, 2023. [slides]

Default and Interest Rate Shocks: Renegotiation Matters, by V. Almeida, C. Esquivel, T. Kehoe and J.P. Nicolini , ITAM-PIER Conference on Macro and Finance, 2022. [slides]

Precautionary Mismatch, by Jincheng Huang and Xincheng Qiu, 2nd Essex/RHUL/Bristol Junior SaM Workshop, 2021. [slides]

Quantifying the Quantitative Easing: Impact on Bonds and Corporate Debt Issuance, by Karamfil Todorov, 6th International Conference on Sovereign Bond Markets, 2019. [slides]