Publications

Slow Recoveries and Unemployment Traps: Monetary Policy in a Time of Hysteresis, with Sushant Acharya, Keshav Dogra and Shu Lin We
Economic Journal​, forthcoming.

Financial Safety Nets, with Javier Bianchi and Louphou Coulibaly
International Economic Review, February 2019.

Liquidity Traps, Capital Flows, with Sushant Acharya
Journal of International Economics, September 2018.

Asset Pledgeability and Endogenously Leveraged Bubbles, with Toan Phan
Journal of Economic Theory, September 2018.

Consumption Baskets and Currency Choice in International Borrowing, with Ha Nguyen
Journal of International Money and Finance, October 2016.
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Capital Mobility and International Sharing of Cyclical Risk, with Enrique Mendoza and Vincenzo Quadrini
Journal of Monetary Economics, January 2013.

Working papers

Macroprudential Policy with Leakages, with Javier Bianchi (updated May 2022), resubmitted to Journal of International Economics

A Macroprudential Theory of Foreign Reserve Accumulation, with Fernando Arce and Javier Bianchi (updated March 2022) 

Work in progress
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Stagflation and Topsy-Turvy Capital Flows, with Louphou Coulibaly

Macroprudential Arrangements for Currency Unions, with Louphou Coulibaly

Dominant Currencies and Risk Premia, with Nick Sander

Other working papers
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​Macroprudential Policy Coordination

​​System Risk and Inefficient Debt Maturity