Index

Google Scholar Profile IDEAS/REPEC

Working Papers

The Optimal Monetary Policy Response to Tariffs, with Louphou Coulibaly, April 2025
Non-technical summary   Twitter thread
  Media:  Reuters Central Banking

How Should Monetary Policy Respond to Housing Inflation? with Alisdair McKay and Neil Mehrotra, December 2024   [slides]
   Revise and Resubmit, Quarterly Journal of Economics

International Reserve Management under Rollover Crises, with Mauricio Barbosa-Alves and Cesar Sosa-Padilla, May 2024
Revise and Resubmit, Quarterly Journal of Economics [Non-technical summary] [Slides]

Bank Runs, Fragility, and Regulation , with Manuel Amador, March 2025       [Slides]    [Policy highlights]

Liquidity Traps, Prudential Policies and International Spillovers,  with Louphou Coulibaly, June 2024
Revised and Resubmitted, Review of Economic Studies

International Sanctions and Dollar Dominance , with Cesar Sosa-Padilla, December 2024
Conditionally Accepted, Economic Journal

A Macroprudential Theory of Foreign Reserve Accumulation, with Fernando Arce and Julien Bengui
     Revised and Resubmitted, AEJ Macro

Financial Integration and Monetary Policy Coordination, with Louphou Coulibaly, June 2024   [Slides] [Non-technical summary]

Helicopter Drops and Liquidity Traps,  with Manuel Amador, February 2025  [Slides]

A Theory of Fear of Floating, with Louphou Coulibaly
Revise and Resubmit, Journal of Monetary Economics

Scrambling for Dollars: International Liquidity, Banks and Exchange Rates,  with Saki Bigio and Charles Engel, Updated March 2025

Settlement Frictions and Portfolio Theory,  with Saki Bigio
Revise and Resubmit, Journal of Economic Theory

Overborrowing, Financial Crises and Macro-prudential Policy, with Enrique Mendoza, June 2010

Financial Safety Nets, with Julien Bengui and Louphou Coulibaly
  International Economic Review, 2019
  The Region summary

International Reserves and Rollover Risk , with Juan Carlos Hatchondo and Leonardo Martinez
  American Economic Review, 2018

Optimal Time-Consistent Macroprudential Policy, with Enrique Mendoza
Journal of Political Economy, 2018

Efficient Bailouts?
  American Economic Review, 2016 (Lead Article)
  The Region summary

Reverse Speculative Attacks, with Manuel Amador, Luigi Bocola, and Fabrizio Perri
    Journal of Economics, Dynamics and Control, 2016
   The Region summary    [Code]

Fundamentals News, Global Liquidity and Macroprudential Policy, with Chenxin Liu and Enrique Mendoza
  Journal of International Economics, 2016 [Corrigendum] [Code]

Macro-prudential Policy in a Fisherian Model of Financial Innovation, with Emine Boz and Enrique Mendoza
IMF Economic Review, 2012

Overborrowing and Systemic Externalities in the Business Cycle
American Economic Review, 2011   [Appendix] [Matlab Code]

Credit Externalities: Macroeconomic Effects and Policy Implications
American Economic Review, Papers and Proceedings, 2010

Comment on `Macroeconomic Volatility and External Imbalances', by Alessandra Fogli and Fabrizio Perri
Journal of Monetary Economics, March 2015

Comment on 'The Risk Channel of Monetary Policy', by Oliver de Groot
International Journal of Central Banking, June 2014

Comment on `Capital Account Policies and the Real Exchange Rate', by Olivier Jeanne
NBER International Seminar on Macroeconomics, August 2012