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

revised August 2008

Previously circulated as: Endogenous Credit Cycles and Financial Dampening in an Adverse Selection Economy, January 2005

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

"The Global Financial Resource Curse"


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

revised August 2008

Previously circulated as: Endogenous Credit Cycles and Financial Dampening in an Adverse Selection Economy, January 2005

L. Althoff and H. Reichardt,

"Jim Crow and Black Economic Progress After Slavery"


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

revised August 2008

Previously circulated as: Endogenous Credit Cycles and Financial Dampening in an Adverse Selection Economy, January 2005

Galí, J. and D. Debortoli,

"Idiosyncratic Income Risk and Aggregate Fluctuations"


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

revised August 2008

Previously circulated as: Endogenous Credit Cycles and Financial Dampening in an Adverse Selection Economy, January 2005

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

"All Aboard: The Effects of Port Development"


Journal of International Economics, 2024, Volume 151, 103963

revised August 2008

Previously circulated as: Endogenous Credit Cycles and Financial Dampening in an Adverse Selection Economy, January 2005

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

revised August 2008

Previously circulated as: Endogenous Credit Cycles and Financial Dampening in an Adverse Selection Economy, January 2005

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

"Returns to labour mobility"


The Economic Journal, 2024, 135, 430–454

revised August 2008

Previously circulated as: Endogenous Credit Cycles and Financial Dampening in an Adverse Selection Economy, January 2005

Ponzetto, G. and U. Troiano,

"Social Capital, Government Expenditures, and Growth"


Forthcoming in Journal of the European Economic Association, 2024

revised August 2008

Previously circulated as: Endogenous Credit Cycles and Financial Dampening in an Adverse Selection Economy, January 2005

Asriyan, V. and V. Vanasco,

"Security Design in Non-Exclusive Markets with Asymmetric Information"


The Review of Economic Studies, 2024, 91(2), 690–719

revised August 2008

Previously circulated as: Endogenous Credit Cycles and Financial Dampening in an Adverse Selection Economy, January 2005

Galí, J., R. Billi and A. Nakov,

"Optimal Monetary Policy with r*< 0"


Journal of Monetary Economics, 2024, 142, article 103518

revised August 2008

Previously circulated as: Endogenous Credit Cycles and Financial Dampening in an Adverse Selection Economy, January 2005

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