Recent Publications

A. Abraham, E. Cárceles, R. Marimon and Y. Liu,

"On the Optimal Design of a Financial Stability Fund"


Forthcoming in The Review of Economic Studies, 2025

Published in C. Raddatz, D. Saravia and J. Ventura (eds.), Global Liquidity, Spillovers to Emerging Markets, and Policy Responses, Central Bank of Chile, 2014, 315-341.

G. Benigno, L. Fornaro and M. Wolf,

"The Global Financial Resource Curse"


American Economic Review, 2024, 115 (1), 220-262

Published in C. Raddatz, D. Saravia and J. Ventura (eds.), Global Liquidity, Spillovers to Emerging Markets, and Policy Responses, Central Bank of Chile, 2014, 315-341.

L. Althoff and H. Reichardt,

"Jim Crow and Black Economic Progress After Slavery"


Quarterly Journal of Economics, 2024, 139 (4), 2279-2330

Published in C. Raddatz, D. Saravia and J. Ventura (eds.), Global Liquidity, Spillovers to Emerging Markets, and Policy Responses, Central Bank of Chile, 2014, 315-341.

Galí, J. and D. Debortoli,

"Idiosyncratic Income Risk and Aggregate Fluctuations"


American Economic Journal: Macroeconomics, 2024, 16(4), 279–310

Published in C. Raddatz, D. Saravia and J. Ventura (eds.), Global Liquidity, Spillovers to Emerging Markets, and Policy Responses, Central Bank of Chile, 2014, 315-341.

Nagy, D., C. Ducruet, R. Juhász and C. Steinwender,

"All Aboard: The Effects of Port Development"


Journal of International Economics, 2024, Volume 151, 103963

Published in C. Raddatz, D. Saravia and J. Ventura (eds.), Global Liquidity, Spillovers to Emerging Markets, and Policy Responses, Central Bank of Chile, 2014, 315-341.

Asriyan, V., L. Laeven, A. Martin, A. Van der Ghote and V. Vanasco,

"Falling Interest Rates and Credit Reallocation: Lessons from General Equilibrium"


The Review of Economic Studies, 2024, 1-31

Published in C. Raddatz, D. Saravia and J. Ventura (eds.), Global Liquidity, Spillovers to Emerging Markets, and Policy Responses, Central Bank of Chile, 2014, 315-341.

Baley, I., Lars Ljungqvist and Thomas J. Sargent,

"Returns to labour mobility"


The Economic Journal, 2024, 135, 430–454

Published in C. Raddatz, D. Saravia and J. Ventura (eds.), Global Liquidity, Spillovers to Emerging Markets, and Policy Responses, Central Bank of Chile, 2014, 315-341.

Ponzetto, G. and U. Troiano,

"Social Capital, Government Expenditures, and Growth"


Forthcoming in Journal of the European Economic Association, 2024

Published in C. Raddatz, D. Saravia and J. Ventura (eds.), Global Liquidity, Spillovers to Emerging Markets, and Policy Responses, Central Bank of Chile, 2014, 315-341.

Galí, J., R. Billi and A. Nakov,

"Optimal Monetary Policy with r*< 0"


Journal of Monetary Economics, 2024, 142, article 103518

Published in C. Raddatz, D. Saravia and J. Ventura (eds.), Global Liquidity, Spillovers to Emerging Markets, and Policy Responses, Central Bank of Chile, 2014, 315-341.

Jeenas, P. and R. Lagos,

"Q-Monetary Transmission"


Journal of Political Economy, 2024, 132 (3), 971-1012

Published in C. Raddatz, D. Saravia and J. Ventura (eds.), Global Liquidity, Spillovers to Emerging Markets, and Policy Responses, Central Bank of Chile, 2014, 315-341.

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