Work in progress 

“Behavioral Sticky Prices”, CEPR Discussion Paper 18884 (with Miguel Santana and Sérgio Rebelo)

“Regulating Artificial Inteligence” NBER Working Paper 31921 (with João Guerreiro and Sérgio Rebelo).

“Taxes and Migration Flows: Preferential Tax Schemes for High-Skill Immigrants” CEPR Discussion Paper 18414 (with João Brogueira de Sousa). 

“Foreign Residents, and the Future of Global Cities,” NBER Working Paper 31402 (with João Guerreiro and Sérgio Rebelo).

“Home Production and the Taxation of Housing” (with Isabel Correia and Catarina Reis)

“Exogenous Public Spending in the Optimal Taxation Problem.”

“Tax Havens” (with Juan Pablo Nicolini).

Publications

“Self-Fulfilling Debt Crises with Long Stagnations,” forthcoming Journal of Political Economy (with João Ayres, Gaston Navarro and Juan Pablo Nicolini).

“The Monetary Financing of a Large Fiscal Shock,” Journal of Monetary Economics 147, 2024 (with Oreste Tristani).

“Optimal Cooperative Taxation in the Global Economy”, Journal of Political Economy 131, 2023, pp. 95-130 (with V. V. Chari and Juan Pablo Nicolini).

“The Neutrality of Nominal Rates: How Long is the Long Run?”, International Economic Review 63, 2022, pp. 1745-1777 (with João Valle e Azevedo and João Ritto).

​“Should Robots Be Taxed?”, Review of Economic Studies 89, 2022, pp. 279-311  (with João Guerreiro and Sérgio Rebelo).

“What is the Optimal Immigration Policy? Migration, Jobs and Welfare”, Journal of Monetary Economics 113, 2020, pp. 61-87 (with João Guerreiro and Sérgio Rebelo).

“Optimal Capital Taxation Revisited”, Journal of Monetary Economics 116, 2020, pp. 147-165 (with V. V. Chari and Juan Pablo Nicolini).

“Credit Subsidies”, Journal of Monetary Economics 118, 2021, pp. 2-14 (with Isabel Correia, Fiorella De Fiore and Oreste Tristani).

“Sovereign Default: The Role of Expectations,” Journal of Economic Theory 175, 2018, pp. 803-812 (with João Ayres, Gaston Navarro and Juan Pablo Nicolini).

“Is Quantity Theory still alive?,” Economic Journal 126, 2016, pp.442-464 (with Harald Uhlig and João Valle e Azevedo).

“Short and Long Interest Rate Targets,” Journal of Monetary Economics 66, 2014, pp. 95-107 (with Bernardino Adao and Isabel Correia).

“Unconventional Fiscal Policy at the Zero Bound,” American Economic Review 103, 2013, pp. 1172-1211 (with Isabel Correia, Emmanuel Farhi and Juan Pablo Nicolini).

“Money is an Experience Good: Competition and Trust in the Private Provision of Money,” Journal of Monetary Economics 59, 2012, pp. 815-825 (with Ramon Marimon and Juan Pablo Nicolini).

“Monetary Policy and the Financing of Firms,” American Economic Journal: Macroeconomics 3, 2011, pp. 1-31 (with Fiorella De Fiore and Oreste Tristani).

“Unique Monetary Equilibria with Interest Rate Rules,” Review of Economic Dynamics 14, 2011, pp. 432-442 (with Bernardino Adao and Isabel Correia).

“Wage and Price Rigidity in a Monetary Union,” Open Economies Review 21, 1, 2010, pp. 109-126 (with Bernardino Adao and Isabel Correia).

“On the Relevance of Exchange Rate Regimes for Stabilization Policy,” Journal of Economic Theory 144, 4, 2009, pp. 1468-1488 (with Bernardino Adao and Isabel Correia).

“Optimal Fiscal and Monetary Policy: Equivalence Results,” Journal of Political Economy 168, 1, 2008, pp. 141-170 (with Isabel Correia and Juan Pablo Nicolini).

"Nominal Debt as a Burden on Monetary Policy'', Review of Economic Dynamics, 11, 3, 2008, pp. 493-514 (with Javier Diaz-Gimenez, Giorgia Giovannetti, and Ramon Marimon).

"The Monetary Transmission Mechanism: Is It Relevant for Policy?", Journal of the European Economic Association, Papers and Proceedings, 2(2-3), 2004, pp. 310-319, (with Bernardino Adão and Isabel Correia).

"Gaps and Triangles", Review of Economic Studies 70, 4, 2003, pp. 699-713 (with Bernardino Adão and Isabel Correia).

"Inside-Outside Money Competition", Journal of Monetary Economics 50, 8, 2003, pp. 1701- 1718 (with Ramon Marimon and Juan Pablo Nicolini).

“The Optimal Mix of Taxes on Money, Consumption and Income'', Journal of Monetary Economics 50, 4, 2003, pp. 871-887 (with Fiorella De Fiore).

''The Optimal Inflation Tax'', Review of Economic Dynamics 2, 2, 1999, pp. 325-346 (with Isabel Correia).

''Is the Friedman Rule Optimal when Money is an Intermediate Good?", Journal of Monetary Economics 38, 2, 1996, pp. 223-244 (with Isabel Correia).

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Other Publications

"Monetary policy and the recent inflation surge", Economic Synopsis, Banco de Portugal Economic Studies, April 2023 (with Bruno Freitas)

“Simple Guidelines for the Taxation of Housing,” Economic Synopsis, Banco de Portugal Economic Studies, July 2021

“Why Wealth Should Not Be Taxed”, Banco de Portugal Economic Studies 3, Winter 2017 (with Joana Garcia).

“How Can the Phillips Curve be Used for Todays Policy?”, Banco de Portugal Economic Studies 2, Spring 2016 (with Joana Garcia).

“Sovereign Debt Crises,” Banco de Portugal Economic Bulletin, Fall 2014.

“Good (and not so good) Policy at the Zero Bound”, Banco de Portugal Economic Bulletin, Summer 2011 (with Sandra Gomes and João Sousa).

“Principles of Optimal Stabilization Policy”, Banco de Portugal Economic Bulletin, Summer 2008 (with I. Correia).

“Ensuring Price Stability with an Interest Rate Rule”, Banco de Portugal Economic Bulletin, Summer 2007 (with B. Adao and I. Correia).

“A stable money demand: Looking for the right monetary aggregate”, Journal of Economic Perspectives of the Federal Reserve Bank of Chicago, Q I, 2005, p. 50-63 (with Ruilin Zhou).

“Simple Guidelines for Interest Rate Policy ”, Banco de Portugal Economic Bulletin, Spring 2005 (with J. M. B. Brito).

"The Optimal Price of Money", Journal of Economic Perspectives of the Federal Reserve Bank of Chicago, Q II, 2003, p. 29-39.

​"Policy Commitments and the Creation of EMU", in "Thinking the Unthinkable about EMU. Coping with Turbulence between 1998 and 2002", John Arrowsmith, ed., National Institute of Economic and Social Research, Occasional Papers 51, 1998 (with Giorgia Giovannetti and Ramon Marimon).

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