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Research

Publications

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The Macro-Financial Effects of International Bank Lending on Emerging Markets, with Inaki Aldasoro, Federico Grinberg, and Tommaso Mancini-Griffoli. Journal of International Economics,  Volume 142, May 2023, 103733.

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Working Papers

Inelastic Financial Markets and Foreign Exchange Interventions, (R&R AEJ: Macro) with Chang He

A Lending Network under Stress: A Structural Analysis of the Money Market Funds Industry

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Selected Working Papers 

(Draft upon request)

Stablecoin flows and spillovers to FX markets with Inaki Aldasoro and Federico Grinberg

Final Destination: International Spillovers from Migration and Refugee Policies  (Submitted) with Carolina Osorio-Buitron and Nicolas Fernandez-Arias

The Anatomy of China Spillovers: Firm-Level Evidence, with Lucas Franz and Andrea Presbitero

Learning and Talent Allocation along the Supply Chain with Francesco Grigoli, Nico Pierri, and Marvin Cardoza

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Capital Mobility, Migration, and Trade: A Unified Spatial Framework

Trading Frictions in Money Markets, with Inaki Aldasoro​

Agent Heterogeneity and the Real Exchange Rates, with Julian Batista

Trade Credit Term Premia, with Felipe Leal and Mariana Sans​

Multilateral Spillovers from FX Intervention, with Julia Faltermeier and Tom Wang​

International Financial Spillovers of US Monetary Policy in Concentrated Markets, with Archit Singhal

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Policy Papers and Policy Work

April 2025, World Economic Outlook, Chapter 3: Journeys and Junctions: Spillovers from Migration and Refugee Policies​

Cross-Border Migration and Climate, with Metodij Hadzi-Vaskov​

October 2023 Regional Economic Outlook: Western Hemisphere, Climate Shocks and Cross-Border Migration in Latin America and the Caribbean (Online Annex 3)​

October 2023 Regional Economic Outlook: Western Hemisphere, El Niño’s Potential Impact on Latin America (Online Annex 2)​

Guatemala: 2023 Article IV Staff Report. IMF Country Report No. 23/172 International Monetary Fund​

Guatemala: 2023 Selected Issues. IMF Country Report 23/173, International Monetary Fund

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