Price elasticity of demand and risk-bearing capacity in sovereign bond auctions (with Rui Albuquerque and José Afonso Faias), Oct. 2024, The Review of Financial Studies, Vol. 37, No. 10, pp. 3149–3187. | Mimeo. | Online appendix.
Fiscal policy and inflation in a monetary union (with Vivien Lewis), Oct. 2017, Economica, Vol. 84, No. 336, pp. 779–796. | Mimeo. | Technical appendix.
The ECB’s monetary policy strategy: from the 2021 review to the 2025 assessment (with Alexandre Carvalho, Joana Garcia, Sandra Gomes and Pedro Pires Ribeiro), Jan. 2025, Banco de Portugal Economic Studies, Vol. XI, No. 1, pp. 65-84. | SUERF Policy Brief No. 1110, Mar. 2025.
A novel decomposition of national central banks’ profits in the euro area: application to the case of Banco de Portugal (with Nuno Silva), Jan. 2023, Banco de Portugal Economic Studies, Vol. IX, No. 1, pp. 49-72.
On the solvency and credibility of a central bank, Jul. 2022, Banco de Portugal Economic Studies, Vol. VIII, No. 3, pp. 71-91.
Monetary and fiscal policy interactions in the aftermath of an inflationary shock (with Maria Manuel Campos, Sandra Gomes and Pascal Jacquinot), Jul. 2025.
Seeking the winner’s curse: the puzzle of overpriced Treasury auctions (with José Afonso Faias, Patrick Herb and Mark Wu), Jun. 2024. (Preliminary and incomplete. Please do not quote.)
Debt-maturity choice with limited risk-bearing capacity (with Rui Albuquerque and José Afonso Faias).
A simulation-based model for Eurosystem's monetary income (with Nuno Silva).
Optimal Fiscal Policy and Public Debt Management in a Small Open Economy, Oct. 2009.
Nominal and Indexed Debt in Euro Area Countries, Oct. 2009.
The Costs of Nominal Public Debt in Bad Times: Wealth and Distortionary Effects, Mar. 2010.
Market Asymmetries as a Burden on Fiscal Policy, Oct. 2009.
Government Bond Markets: What is the Magnitude of Volatility-Spillover Effects in the Euro Area? (with Lia Vaz Cruz e Paulo Sousa Leiria), Sep. 2004.