working papers

• Digitalization and Credit Markets: Evidence from eInvoicing (2025) [available upon request], Invited for the Review of Finance special conference on "The Future of Payments: CBDC, Digital Assets and Digital Capital Markets"

with A. Casado (Banco de España), M. Giometti (UC3M),  J. Gutiérrez (Banco de España), D. Martínez-Miera (UC3M), and A. Matyunina (Banco de España).

• Demand for Safety in the Crypto Ecosystem (2025) [available upon request]

with M. Campello (Cornell & U of Florida), A. Gallo (Bayes Business School), and L. Mota (MIT Sloan)

• FX Hedging, Currency Choice, and Dollar Dominance (2025), Revise and Resubmit at Management Science

with M. Fraschini (U of Luxembourg) and Thibaut Piquard (Banque de France) 

• The Monetary Entanglement between CBDC and Central Bank Policies (2025)

with M. Fraschini (U of Luxembourg) and L. Somoza (ESSEC Business School)

• CBDC and Banks: Threat or Opportunity? (2025)

with M. Fraschini (U of Luxembourg), and L. Somoza (ESSEC Business School)

• Are Green Funds for Real? (2024)

with L. Chen (IESE Business School), C. Jaunin (Swiss Finance Institute - Lausanne), and L. Somoza (ESSEC Business School

Policy Papers

• The Crypto Cycle and Institutional Investors (2024) with A. Copestake (IMF), and D. Furcieri (IMF) 

IMF Working Paper No. 2023/163

• Stabilizing Stablecoins: Proposal for a Pragmatic Regulatory Approach (2021) with L. Somoza (U Lausanne & SFI) 

The Journal of FinTech, Vol. 01, No. 02, 2150001 (2021)

• Written evidence for the House of Lords Economic Affairs Committee inquiry on Central Bank Digital Currencies (2021), with M. Fraschini (U Lausanne & SFI) and L. Somoza (U Lausanne & SFI) 

[by invitation]

3rd Report of Session 2021-22 by the House of Lords Economic Affairs Committee, "Central bank digital currencies: a solution in search of a problem?"