The Geography of Capital Allocation in the Euro Area (2024), NBER Working Paper No. 32275, with Roland Beck, Antonio Coppola, Angus Lewis, Matteo Maggiori and Jesse Schreger. Dataset. ECB WP version, GCAP Brief, Box in Report on Financial Integration and Structure in the Euro Area 2024. Revise & Resubmit at Quarterly Journal of Economics.
Dominant currency pricing in international trade of services (2024), ECB Working Paper No. 2932, CEPR Discussion Paper No. 19020, with João Amador, Joana Garcia and Arnaud Mehl. Coverage on voxeu.org. Revise & Resubmit.
Determinants of currency choice in cross-border bank loans (2024), ECB Working Paper No. 2918, with Lorenz Emter, Peter McQuade and Swapan Kumar Pradhan. Other version: Special feature in International role of the euro 2023.
Foreign institutional investors, monetary policy, and reaching for yield (2023), BIS Working Papers No. 1153, with Ahmed Ahmed and Boris Hofmann.
Cross-Border Investment in Emerging Market Bonds: Stylized Facts and Security-Level Evidence from Europe (2023), CEPR Discussion Paper No. 17946, with Katharina Bergant and Gian Maria Milesi-Ferretti. Revise & Resubmit.
Cross-border currency exposures: new evidence based on an enhanced and updated dataset (2020), ECB Working Paper No. 2417, IMF Working Paper No. 19/299, Trinity Economics Papers No. 120, with Agustín Bénétrix, Deepali Gautam and Luciana Juvenal. Dataset
International capital flows at the security level – evidence from the ECB’s Asset Purchase Programme (2020), ECB Working Paper No. 2388, IMF Working Paper No. 20/46, with Katharina Bergant and Michael Fidora. Winner of Best Paper Award at the ECMI Annual Conference 2018. Coverage on centralbanking.com.
America First? A US-centric view of global capital flows (2019), ECB Working Paper No. 2238, Central Bank of Ireland RTP 2019/2, with Peter McQuade.
Valuation Effects and International Capital Flows - Security-Level Evidence from Euro Area Investors (2019), with Katharina Bergant.
Gravity and international services trade: the impact of virtual proximity (2016), with Christiane Hellmanzik