Recent Publications

Galí, J., R. Billi and A. Nakov,

"Optimal Monetary Policy with r*< 0"


Forthcoming in Journal of Monetary Economics, 2023

revised August 2008

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

Broner, F., T. Didier, S. Schmukler and G. von Peter,

"Bilateral International Investments: The Big Sur?"


Forthcoming in Journal of International Economics, 2023

revised August 2008

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

Schaal, E. and Mathieu Taschereau-Dumouchel,

"Herding through booms and busts*"


Journal of Economic Theory, 2023, 210, 105669

revised August 2008

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

Fornaro, L.,

"The Scars of Supply Shocks"


Forthcoming in Journal of Monetary Economics, 2023

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, 2023, 00, 1-30

revised August 2008

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

M. Santamaría, J. Ventura and U. Yeşilbayraktar,

"Exploring European Regional Trade"


Forthcoming in Journal of International Economics, 2023

revised August 2008

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

Nagy, D.,

"Hinterlands, city formation and growth: Evidence from the U.S. westward expansion"


Forthcoming in The Review of Economic Studies, 2023

revised August 2008

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

Asriyan, V., D. Foarta and V. Vanasco,

"The Good, the Bad and the Complex: Product Design with Imperfect Information"


Forthcoming in American Economic Journal: Microeconomics, 2023

revised August 2008

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

K. Greulich, S. Laczó and A. Marcet,

"Pareto-Improving Optimal Capital and Labor Taxes"


Forthcoming in Journal of Political Economy, 2023

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,

"Reserve Accumulation, Growth and Financial Crises"


Journal of International Economics, 2022, 139, article 103660

revised August 2008

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

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