Recent Publications

Vanasco, V., U. Malmendier and D. Pouzo,

"Investor Experiences and Financial Market Dynamics"


Journal of Financial Economics, 2020, 136(3), 597-622

Published in Econometrica, 82 (2), 2014, 463-505. DOI. Repository.
The copyright to this article is held by the Econometric Society, https://www.econometricsociety.org/. It may be downloaded, printed and reproduced only for personal or classroom use. Absolutely no downloading or copying may be done for, or on behalf of, any for-profit commercial firm or for other commercial purpose without the explicit permission of the Econometric Society.

Regular publications and media

Reports, studies et al.

Speeches, conference remarks, opening addresses etc

  • Yves Mersch, Member of the ECB Executive Board/Vice-Chair of the Supervisory Board (2020) 
  • Geoff Bascand, Deputy Governor of the Reserve Bank of New Zealand and General Manager of Financial Stability (2019) 
  • Sabine Lautenschläger, Member of the ECB Executive Board and Vice-Chair of the Supervisory Board (2018) 
  • Jens Weidmann, President of the Deutsche Bundesbank (2018) 
  • Mario Draghi, President of the ECB (Frankfurt) (Madrid) (2017)
  • Benoît Cœuré, Member of the Executive Board of the ECB (2016) · i & ii (2014) · (2012)
  • Fabio Panetta, Deputy Governor of the Bank of Italy (2016) 
  • Loretta J. Mester, President of the Cleveland Fed. Res. Bank (2018) (2016)
  • Ignazio Angeloni, Member of the Supervisory Board of the ECB (2015) 
  • John Simon, Head of Economic Research (Reserve Bank of Australia) (2015) 
  • Mark Carney Governor of the Bank of England/Chairman of the Financial Stability Bd. (2014) 
  • Jeremy C Stein, Member of the Board of Governors of the Federal Reserve System (2013)  
  • J.M. González Páramo, Member of the ECB Executive Board (2011) 
  • Lorenzo Bini Smaghi, Member of the ECB Executive Board (i & ii 2010) · (i & ii 2008) 
  • Lucas Papademos, Vice President of the ECB (2010) (2009)
  • Lars Nyberg, Deputy Governor of the Sveriges Riksbank (2010) 
  • Axel A Weber, President of the Deutsche Bundesbank (2009) 
  • Mario Draghi, Governor of the Bank of Italy/Chairman of the Financial Stability Forum (2008) 
  • Keynote address by Jean-Claude Trichet, President of the ECB, at the Policy Discussion “Global Economic Policy Forum 2008”
Monràs, J.,

"Local Adjustment to Immigrant-Driven Labor Supply Shocks"


Forthcoming in Journal of Human Capital, 2020

Published in Econometrica, 82 (2), 2014, 463-505. DOI. Repository.
The copyright to this article is held by the Econometric Society, https://www.econometricsociety.org/. It may be downloaded, printed and reproduced only for personal or classroom use. Absolutely no downloading or copying may be done for, or on behalf of, any for-profit commercial firm or for other commercial purpose without the explicit permission of the Econometric Society.

Regular publications and media

Reports, studies et al.

Speeches, conference remarks, opening addresses etc

  • Yves Mersch, Member of the ECB Executive Board/Vice-Chair of the Supervisory Board (2020) 
  • Geoff Bascand, Deputy Governor of the Reserve Bank of New Zealand and General Manager of Financial Stability (2019) 
  • Sabine Lautenschläger, Member of the ECB Executive Board and Vice-Chair of the Supervisory Board (2018) 
  • Jens Weidmann, President of the Deutsche Bundesbank (2018) 
  • Mario Draghi, President of the ECB (Frankfurt) (Madrid) (2017)
  • Benoît Cœuré, Member of the Executive Board of the ECB (2016) · i & ii (2014) · (2012)
  • Fabio Panetta, Deputy Governor of the Bank of Italy (2016) 
  • Loretta J. Mester, President of the Cleveland Fed. Res. Bank (2018) (2016)
  • Ignazio Angeloni, Member of the Supervisory Board of the ECB (2015) 
  • John Simon, Head of Economic Research (Reserve Bank of Australia) (2015) 
  • Mark Carney Governor of the Bank of England/Chairman of the Financial Stability Bd. (2014) 
  • Jeremy C Stein, Member of the Board of Governors of the Federal Reserve System (2013)  
  • J.M. González Páramo, Member of the ECB Executive Board (2011) 
  • Lorenzo Bini Smaghi, Member of the ECB Executive Board (i & ii 2010) · (i & ii 2008) 
  • Lucas Papademos, Vice President of the ECB (2010) (2009)
  • Lars Nyberg, Deputy Governor of the Sveriges Riksbank (2010) 
  • Axel A Weber, President of the Deutsche Bundesbank (2009) 
  • Mario Draghi, Governor of the Bank of Italy/Chairman of the Financial Stability Forum (2008) 
  • Keynote address by Jean-Claude Trichet, President of the ECB, at the Policy Discussion “Global Economic Policy Forum 2008”
R. Billi and J. Galí,

"Gains from Wage Flexibility and the Zero Lower Bound"


Oxford Bulletin of Economics and Statistics, 2020, 82(6), 1239-1261

Published in Econometrica, 82 (2), 2014, 463-505. DOI. Repository.
The copyright to this article is held by the Econometric Society, https://www.econometricsociety.org/. It may be downloaded, printed and reproduced only for personal or classroom use. Absolutely no downloading or copying may be done for, or on behalf of, any for-profit commercial firm or for other commercial purpose without the explicit permission of the Econometric Society.

Regular publications and media

Reports, studies et al.

Speeches, conference remarks, opening addresses etc

  • Yves Mersch, Member of the ECB Executive Board/Vice-Chair of the Supervisory Board (2020) 
  • Geoff Bascand, Deputy Governor of the Reserve Bank of New Zealand and General Manager of Financial Stability (2019) 
  • Sabine Lautenschläger, Member of the ECB Executive Board and Vice-Chair of the Supervisory Board (2018) 
  • Jens Weidmann, President of the Deutsche Bundesbank (2018) 
  • Mario Draghi, President of the ECB (Frankfurt) (Madrid) (2017)
  • Benoît Cœuré, Member of the Executive Board of the ECB (2016) · i & ii (2014) · (2012)
  • Fabio Panetta, Deputy Governor of the Bank of Italy (2016) 
  • Loretta J. Mester, President of the Cleveland Fed. Res. Bank (2018) (2016)
  • Ignazio Angeloni, Member of the Supervisory Board of the ECB (2015) 
  • John Simon, Head of Economic Research (Reserve Bank of Australia) (2015) 
  • Mark Carney Governor of the Bank of England/Chairman of the Financial Stability Bd. (2014) 
  • Jeremy C Stein, Member of the Board of Governors of the Federal Reserve System (2013)  
  • J.M. González Páramo, Member of the ECB Executive Board (2011) 
  • Lorenzo Bini Smaghi, Member of the ECB Executive Board (i & ii 2010) · (i & ii 2008) 
  • Lucas Papademos, Vice President of the ECB (2010) (2009)
  • Lars Nyberg, Deputy Governor of the Sveriges Riksbank (2010) 
  • Axel A Weber, President of the Deutsche Bundesbank (2009) 
  • Mario Draghi, Governor of the Bank of Italy/Chairman of the Financial Stability Forum (2008) 
  • Keynote address by Jean-Claude Trichet, President of the ECB, at the Policy Discussion “Global Economic Policy Forum 2008”
Martin, A., F. Broner and J. Ventura,

"On Public Spending and Economic Unions"


Forthcoming in IMF Economic Review, 2020

Published in Econometrica, 82 (2), 2014, 463-505. DOI. Repository.
The copyright to this article is held by the Econometric Society, https://www.econometricsociety.org/. It may be downloaded, printed and reproduced only for personal or classroom use. Absolutely no downloading or copying may be done for, or on behalf of, any for-profit commercial firm or for other commercial purpose without the explicit permission of the Econometric Society.

Regular publications and media

Reports, studies et al.

Speeches, conference remarks, opening addresses etc

  • Yves Mersch, Member of the ECB Executive Board/Vice-Chair of the Supervisory Board (2020) 
  • Geoff Bascand, Deputy Governor of the Reserve Bank of New Zealand and General Manager of Financial Stability (2019) 
  • Sabine Lautenschläger, Member of the ECB Executive Board and Vice-Chair of the Supervisory Board (2018) 
  • Jens Weidmann, President of the Deutsche Bundesbank (2018) 
  • Mario Draghi, President of the ECB (Frankfurt) (Madrid) (2017)
  • Benoît Cœuré, Member of the Executive Board of the ECB (2016) · i & ii (2014) · (2012)
  • Fabio Panetta, Deputy Governor of the Bank of Italy (2016) 
  • Loretta J. Mester, President of the Cleveland Fed. Res. Bank (2018) (2016)
  • Ignazio Angeloni, Member of the Supervisory Board of the ECB (2015) 
  • John Simon, Head of Economic Research (Reserve Bank of Australia) (2015) 
  • Mark Carney Governor of the Bank of England/Chairman of the Financial Stability Bd. (2014) 
  • Jeremy C Stein, Member of the Board of Governors of the Federal Reserve System (2013)  
  • J.M. González Páramo, Member of the ECB Executive Board (2011) 
  • Lorenzo Bini Smaghi, Member of the ECB Executive Board (i & ii 2010) · (i & ii 2008) 
  • Lucas Papademos, Vice President of the ECB (2010) (2009)
  • Lars Nyberg, Deputy Governor of the Sveriges Riksbank (2010) 
  • Axel A Weber, President of the Deutsche Bundesbank (2009) 
  • Mario Draghi, Governor of the Bank of Italy/Chairman of the Financial Stability Forum (2008) 
  • Keynote address by Jean-Claude Trichet, President of the ECB, at the Policy Discussion “Global Economic Policy Forum 2008”
Asriyan, V.,

"Balance Sheet Channel with Information-Trading Frictions in Secondary Markets"


Forthcoming in The Review of Economic Studies, 2020

Published in Econometrica, 82 (2), 2014, 463-505. DOI. Repository.
The copyright to this article is held by the Econometric Society, https://www.econometricsociety.org/. It may be downloaded, printed and reproduced only for personal or classroom use. Absolutely no downloading or copying may be done for, or on behalf of, any for-profit commercial firm or for other commercial purpose without the explicit permission of the Econometric Society.

Regular publications and media

Reports, studies et al.

Speeches, conference remarks, opening addresses etc

  • Yves Mersch, Member of the ECB Executive Board/Vice-Chair of the Supervisory Board (2020) 
  • Geoff Bascand, Deputy Governor of the Reserve Bank of New Zealand and General Manager of Financial Stability (2019) 
  • Sabine Lautenschläger, Member of the ECB Executive Board and Vice-Chair of the Supervisory Board (2018) 
  • Jens Weidmann, President of the Deutsche Bundesbank (2018) 
  • Mario Draghi, President of the ECB (Frankfurt) (Madrid) (2017)
  • Benoît Cœuré, Member of the Executive Board of the ECB (2016) · i & ii (2014) · (2012)
  • Fabio Panetta, Deputy Governor of the Bank of Italy (2016) 
  • Loretta J. Mester, President of the Cleveland Fed. Res. Bank (2018) (2016)
  • Ignazio Angeloni, Member of the Supervisory Board of the ECB (2015) 
  • John Simon, Head of Economic Research (Reserve Bank of Australia) (2015) 
  • Mark Carney Governor of the Bank of England/Chairman of the Financial Stability Bd. (2014) 
  • Jeremy C Stein, Member of the Board of Governors of the Federal Reserve System (2013)  
  • J.M. González Páramo, Member of the ECB Executive Board (2011) 
  • Lorenzo Bini Smaghi, Member of the ECB Executive Board (i & ii 2010) · (i & ii 2008) 
  • Lucas Papademos, Vice President of the ECB (2010) (2009)
  • Lars Nyberg, Deputy Governor of the Sveriges Riksbank (2010) 
  • Axel A Weber, President of the Deutsche Bundesbank (2009) 
  • Mario Draghi, Governor of the Bank of Italy/Chairman of the Financial Stability Forum (2008) 
  • Keynote address by Jean-Claude Trichet, President of the ECB, at the Policy Discussion “Global Economic Policy Forum 2008”
Debortoli, D.,

"Comments on The Fiscal-Monetary Policy Mix in the Euro Area: Challenges at the Zero Lower Bound"


Forthcoming in Economic Policy, 2020

Published in Econometrica, 82 (2), 2014, 463-505. DOI. Repository.
The copyright to this article is held by the Econometric Society, https://www.econometricsociety.org/. It may be downloaded, printed and reproduced only for personal or classroom use. Absolutely no downloading or copying may be done for, or on behalf of, any for-profit commercial firm or for other commercial purpose without the explicit permission of the Econometric Society.

Regular publications and media

Reports, studies et al.

Speeches, conference remarks, opening addresses etc

  • Yves Mersch, Member of the ECB Executive Board/Vice-Chair of the Supervisory Board (2020) 
  • Geoff Bascand, Deputy Governor of the Reserve Bank of New Zealand and General Manager of Financial Stability (2019) 
  • Sabine Lautenschläger, Member of the ECB Executive Board and Vice-Chair of the Supervisory Board (2018) 
  • Jens Weidmann, President of the Deutsche Bundesbank (2018) 
  • Mario Draghi, President of the ECB (Frankfurt) (Madrid) (2017)
  • Benoît Cœuré, Member of the Executive Board of the ECB (2016) · i & ii (2014) · (2012)
  • Fabio Panetta, Deputy Governor of the Bank of Italy (2016) 
  • Loretta J. Mester, President of the Cleveland Fed. Res. Bank (2018) (2016)
  • Ignazio Angeloni, Member of the Supervisory Board of the ECB (2015) 
  • John Simon, Head of Economic Research (Reserve Bank of Australia) (2015) 
  • Mark Carney Governor of the Bank of England/Chairman of the Financial Stability Bd. (2014) 
  • Jeremy C Stein, Member of the Board of Governors of the Federal Reserve System (2013)  
  • J.M. González Páramo, Member of the ECB Executive Board (2011) 
  • Lorenzo Bini Smaghi, Member of the ECB Executive Board (i & ii 2010) · (i & ii 2008) 
  • Lucas Papademos, Vice President of the ECB (2010) (2009)
  • Lars Nyberg, Deputy Governor of the Sveriges Riksbank (2010) 
  • Axel A Weber, President of the Deutsche Bundesbank (2009) 
  • Mario Draghi, Governor of the Bank of Italy/Chairman of the Financial Stability Forum (2008) 
  • Keynote address by Jean-Claude Trichet, President of the ECB, at the Policy Discussion “Global Economic Policy Forum 2008”
Asriyan, V., W. Fuchs and B. Green,

"Aggregation and Design of Information in Asset Markets with Adverse Selection"


Forthcoming in Journal of Economic Theory, 2020

Published in Econometrica, 82 (2), 2014, 463-505. DOI. Repository.
The copyright to this article is held by the Econometric Society, https://www.econometricsociety.org/. It may be downloaded, printed and reproduced only for personal or classroom use. Absolutely no downloading or copying may be done for, or on behalf of, any for-profit commercial firm or for other commercial purpose without the explicit permission of the Econometric Society.

Regular publications and media

Reports, studies et al.

Speeches, conference remarks, opening addresses etc

  • Yves Mersch, Member of the ECB Executive Board/Vice-Chair of the Supervisory Board (2020) 
  • Geoff Bascand, Deputy Governor of the Reserve Bank of New Zealand and General Manager of Financial Stability (2019) 
  • Sabine Lautenschläger, Member of the ECB Executive Board and Vice-Chair of the Supervisory Board (2018) 
  • Jens Weidmann, President of the Deutsche Bundesbank (2018) 
  • Mario Draghi, President of the ECB (Frankfurt) (Madrid) (2017)
  • Benoît Cœuré, Member of the Executive Board of the ECB (2016) · i & ii (2014) · (2012)
  • Fabio Panetta, Deputy Governor of the Bank of Italy (2016) 
  • Loretta J. Mester, President of the Cleveland Fed. Res. Bank (2018) (2016)
  • Ignazio Angeloni, Member of the Supervisory Board of the ECB (2015) 
  • John Simon, Head of Economic Research (Reserve Bank of Australia) (2015) 
  • Mark Carney Governor of the Bank of England/Chairman of the Financial Stability Bd. (2014) 
  • Jeremy C Stein, Member of the Board of Governors of the Federal Reserve System (2013)  
  • J.M. González Páramo, Member of the ECB Executive Board (2011) 
  • Lorenzo Bini Smaghi, Member of the ECB Executive Board (i & ii 2010) · (i & ii 2008) 
  • Lucas Papademos, Vice President of the ECB (2010) (2009)
  • Lars Nyberg, Deputy Governor of the Sveriges Riksbank (2010) 
  • Axel A Weber, President of the Deutsche Bundesbank (2009) 
  • Mario Draghi, Governor of the Bank of Italy/Chairman of the Financial Stability Forum (2008) 
  • Keynote address by Jean-Claude Trichet, President of the ECB, at the Policy Discussion “Global Economic Policy Forum 2008”
A. P. Behrer, E. L. Glaeser, G. Ponzetto and A. Shleifer,

"Securing Property Rights"


Forthcoming in Journal of Political Economy, 2020

Published in Econometrica, 82 (2), 2014, 463-505. DOI. Repository.
The copyright to this article is held by the Econometric Society, https://www.econometricsociety.org/. It may be downloaded, printed and reproduced only for personal or classroom use. Absolutely no downloading or copying may be done for, or on behalf of, any for-profit commercial firm or for other commercial purpose without the explicit permission of the Econometric Society.

Regular publications and media

Reports, studies et al.

Speeches, conference remarks, opening addresses etc

  • Yves Mersch, Member of the ECB Executive Board/Vice-Chair of the Supervisory Board (2020) 
  • Geoff Bascand, Deputy Governor of the Reserve Bank of New Zealand and General Manager of Financial Stability (2019) 
  • Sabine Lautenschläger, Member of the ECB Executive Board and Vice-Chair of the Supervisory Board (2018) 
  • Jens Weidmann, President of the Deutsche Bundesbank (2018) 
  • Mario Draghi, President of the ECB (Frankfurt) (Madrid) (2017)
  • Benoît Cœuré, Member of the Executive Board of the ECB (2016) · i & ii (2014) · (2012)
  • Fabio Panetta, Deputy Governor of the Bank of Italy (2016) 
  • Loretta J. Mester, President of the Cleveland Fed. Res. Bank (2018) (2016)
  • Ignazio Angeloni, Member of the Supervisory Board of the ECB (2015) 
  • John Simon, Head of Economic Research (Reserve Bank of Australia) (2015) 
  • Mark Carney Governor of the Bank of England/Chairman of the Financial Stability Bd. (2014) 
  • Jeremy C Stein, Member of the Board of Governors of the Federal Reserve System (2013)  
  • J.M. González Páramo, Member of the ECB Executive Board (2011) 
  • Lorenzo Bini Smaghi, Member of the ECB Executive Board (i & ii 2010) · (i & ii 2008) 
  • Lucas Papademos, Vice President of the ECB (2010) (2009)
  • Lars Nyberg, Deputy Governor of the Sveriges Riksbank (2010) 
  • Axel A Weber, President of the Deutsche Bundesbank (2009) 
  • Mario Draghi, Governor of the Bank of Italy/Chairman of the Financial Stability Forum (2008) 
  • Keynote address by Jean-Claude Trichet, President of the ECB, at the Policy Discussion “Global Economic Policy Forum 2008”
Monràs, J.,

"Immigration and Wage Dynamics: Evidence from the Mexican Peso Crisis"


Journal of Political Economy, 2020, 128 (8), 3017-3089

Published in Econometrica, 82 (2), 2014, 463-505. DOI. Repository.
The copyright to this article is held by the Econometric Society, https://www.econometricsociety.org/. It may be downloaded, printed and reproduced only for personal or classroom use. Absolutely no downloading or copying may be done for, or on behalf of, any for-profit commercial firm or for other commercial purpose without the explicit permission of the Econometric Society.

Regular publications and media

Reports, studies et al.

Speeches, conference remarks, opening addresses etc

  • Yves Mersch, Member of the ECB Executive Board/Vice-Chair of the Supervisory Board (2020) 
  • Geoff Bascand, Deputy Governor of the Reserve Bank of New Zealand and General Manager of Financial Stability (2019) 
  • Sabine Lautenschläger, Member of the ECB Executive Board and Vice-Chair of the Supervisory Board (2018) 
  • Jens Weidmann, President of the Deutsche Bundesbank (2018) 
  • Mario Draghi, President of the ECB (Frankfurt) (Madrid) (2017)
  • Benoît Cœuré, Member of the Executive Board of the ECB (2016) · i & ii (2014) · (2012)
  • Fabio Panetta, Deputy Governor of the Bank of Italy (2016) 
  • Loretta J. Mester, President of the Cleveland Fed. Res. Bank (2018) (2016)
  • Ignazio Angeloni, Member of the Supervisory Board of the ECB (2015) 
  • John Simon, Head of Economic Research (Reserve Bank of Australia) (2015) 
  • Mark Carney Governor of the Bank of England/Chairman of the Financial Stability Bd. (2014) 
  • Jeremy C Stein, Member of the Board of Governors of the Federal Reserve System (2013)  
  • J.M. González Páramo, Member of the ECB Executive Board (2011) 
  • Lorenzo Bini Smaghi, Member of the ECB Executive Board (i & ii 2010) · (i & ii 2008) 
  • Lucas Papademos, Vice President of the ECB (2010) (2009)
  • Lars Nyberg, Deputy Governor of the Sveriges Riksbank (2010) 
  • Axel A Weber, President of the Deutsche Bundesbank (2009) 
  • Mario Draghi, Governor of the Bank of Italy/Chairman of the Financial Stability Forum (2008) 
  • Keynote address by Jean-Claude Trichet, President of the ECB, at the Policy Discussion “Global Economic Policy Forum 2008”
Debortoli, D., R. Nunes and P. Yared,

"Optimal Fiscal Policy without Commitment: Revisiting Lucas-Stokey"


Forthcoming in Journal of Political Economy, 2020

Published in Econometrica, 82 (2), 2014, 463-505. DOI. Repository.
The copyright to this article is held by the Econometric Society, https://www.econometricsociety.org/. It may be downloaded, printed and reproduced only for personal or classroom use. Absolutely no downloading or copying may be done for, or on behalf of, any for-profit commercial firm or for other commercial purpose without the explicit permission of the Econometric Society.

Regular publications and media

Reports, studies et al.

Speeches, conference remarks, opening addresses etc

  • Yves Mersch, Member of the ECB Executive Board/Vice-Chair of the Supervisory Board (2020) 
  • Geoff Bascand, Deputy Governor of the Reserve Bank of New Zealand and General Manager of Financial Stability (2019) 
  • Sabine Lautenschläger, Member of the ECB Executive Board and Vice-Chair of the Supervisory Board (2018) 
  • Jens Weidmann, President of the Deutsche Bundesbank (2018) 
  • Mario Draghi, President of the ECB (Frankfurt) (Madrid) (2017)
  • Benoît Cœuré, Member of the Executive Board of the ECB (2016) · i & ii (2014) · (2012)
  • Fabio Panetta, Deputy Governor of the Bank of Italy (2016) 
  • Loretta J. Mester, President of the Cleveland Fed. Res. Bank (2018) (2016)
  • Ignazio Angeloni, Member of the Supervisory Board of the ECB (2015) 
  • John Simon, Head of Economic Research (Reserve Bank of Australia) (2015) 
  • Mark Carney Governor of the Bank of England/Chairman of the Financial Stability Bd. (2014) 
  • Jeremy C Stein, Member of the Board of Governors of the Federal Reserve System (2013)  
  • J.M. González Páramo, Member of the ECB Executive Board (2011) 
  • Lorenzo Bini Smaghi, Member of the ECB Executive Board (i & ii 2010) · (i & ii 2008) 
  • Lucas Papademos, Vice President of the ECB (2010) (2009)
  • Lars Nyberg, Deputy Governor of the Sveriges Riksbank (2010) 
  • Axel A Weber, President of the Deutsche Bundesbank (2009) 
  • Mario Draghi, Governor of the Bank of Italy/Chairman of the Financial Stability Forum (2008) 
  • Keynote address by Jean-Claude Trichet, President of the ECB, at the Policy Discussion “Global Economic Policy Forum 2008”

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