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Research

Publications

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.

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

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

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

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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