My Research Statement can be found here.
Publications
8. The Macroeconomic Consequences of International Financial Sanctions
with Javier Bianchi.
AEA P&P, Forthcoming, May 2023. [PDF]
7. Does It Matter How Central Banks Accumulate Reserves? Evidence from Sovereign Spreads
with Federico Sturzenegger.
Journal of International Economics, Accepted, December 2022.
[PDF] [NBER WP version] [Slides] [Code repository]
6. Interest Rate Uncertainty and Sovereign Default Risk
with Alok Johri and Shahed K. Khan.
Journal of International Economics, Volume 139, November 2022.
PDF (w/ Appendix) JIE version Journal link Code repository
5. Trade Liberalization and Firm Productivity: Estimation Methods Matter
with John Kealy and Pau S. Pujolàs.
Economic Inquiry, Volume 57(3), July 2019, pages 1272-1283.
PDF Online appendix Journal link BibTex
4. Sovereign Defaults and Banking Crises
Journal of Monetary Economics, Volume 99, November 2018, pages 88-105.
PDF Online appendix Journal link BibTex
3. Debt Dilution and Sovereign Default Risk
with Juan Carlos Hatchondo and Leonardo Martinez
Journal of Political Economy, Volume 124, October 2016, pages 1383-1422.
PDF Older WP version Journal link BibTex
2. Voluntary Sovereign Debt Exchanges
with Juan Carlos Hatchondo and Leonardo Martinez
Journal of Monetary Economics, Volume 61, January 2014, pages 32-50.
PDF Journal link BibTex
1. Firms’ Financing, Contract Enforcement and Liability Dollarization
Journal of Centrum Cathedra, Vol. 3, No. 1. March 2010. Lead Article.
Link
Working Papers
Reserve Accumulation, Macroeconomic Stabilization, and Sovereign Risk
with Javier Bianchi. Revised and Resubmitted to the Review of Economic Studies. [August ‘22 pdf] [Slides]
Sovereign Debt Standstills
with Juan Carlos Hatchondo and Leonardo Martinez. Revise and Resubmit at JPE Macro. [July ‘22 pdf] [NBER WP version] [Slides]
Sovereign Spreads and the Political Leaning of Nations
with Johnny Cotoc and Alok Johri. Revise and Resubmit at the International Economic Review. [June ‘22 pdf] [Featured in the NBER Digest]
On Wars, Sanctions and Sovereign Default.
with Javier Bianchi. Accepted for the 100th CRNYU Conference and to appear in the JME (January 2024) [August ‘22 pdf] [Twitter thread] [Slides]
Optimal Bailouts in Banking and Sovereign Crises
with Sewon Hur and Zeynep Yom. Submitted [December ‘22 pdf] [NBER WP version (old)] [Slides]
Borrowing in the Shadow of China
with Illenin Kondo and Astghik Mkhitaryan. [September ‘22 pdf]
International Sanctions: The Demise of the US Dollar?
with Javier Bianchi. Early draft available upon request. Full draft coming soon.
Policy Papers
- Fiscal rules: Coping with Revenue Volatility in Lesotho and Swaziland
with J.Honda, F. Im, N. Koliadina, M. Morgan, M. Nose and J. Torres. IMF African Department WP. [link]
Work in Progress
A Simple Model of Geoeconomic Fragmentation (with Javier Bianchi) Draft coming in Spring 2023
Reserve Accumulation and the Currency Composition of Sovereign Debt (with Francisco Roldan)
A Quantitative Analysis of ESBies (with Juan Carlos Hatchondo and Leonardo Martinez) [Extended abstract]
Equilibrium Repression (with Zach Stangebye)
A Political Inequality Trap (with Augusto Nieto-Barthaburu)