Recent Publications

Asriyan, V., L. Fornaro, A. Martin and J. Ventura,

"Monetary Policy for a Bubbly World"


Forthcoming in The Review of Economic Studies, 2021

Published in Journal of Political Economy, 125 (6), 2017, 2126-2177. DOI. Repository.

Regular publications and media

Reports, studies et al.

Speeches, conference remarks, opening addresses etc. 

  • P. Hernández de Cos, Governor of the Bank of Spain (2019 and 2018
  • V. Constâncio, Vice-President of the ECB 1 and 2 (2015) (2013
  • Distinguished Vifredo Pareto Lecture by Jean Charles Rochet (2015): text and video (5:18) 
  • Janet Yellen, Federal Reserve Board’s Vice Chair (2011)
L. Alfaro, M. García-Santana and E. Moral-Benito,

"On the Direct and Indirect Real Effects of Credit Supply Shocks"


Forthcoming in Journal of Financial Economics, 2021

Published in Journal of Political Economy, 125 (6), 2017, 2126-2177. DOI. Repository.

Regular publications and media

Reports, studies et al.

Speeches, conference remarks, opening addresses etc. 

  • P. Hernández de Cos, Governor of the Bank of Spain (2019 and 2018
  • V. Constâncio, Vice-President of the ECB 1 and 2 (2015) (2013
  • Distinguished Vifredo Pareto Lecture by Jean Charles Rochet (2015): text and video (5:18) 
  • Janet Yellen, Federal Reserve Board’s Vice Chair (2011)
Monràs, J.,

"Local Adjustment to Immigrant-Driven Labor Supply Shocks"


Forthcoming in Journal of Human Capital, 2021

Published in Journal of Political Economy, 125 (6), 2017, 2126-2177. DOI. Repository.

Regular publications and media

Reports, studies et al.

Speeches, conference remarks, opening addresses etc. 

  • P. Hernández de Cos, Governor of the Bank of Spain (2019 and 2018
  • V. Constâncio, Vice-President of the ECB 1 and 2 (2015) (2013
  • Distinguished Vifredo Pareto Lecture by Jean Charles Rochet (2015): text and video (5:18) 
  • Janet Yellen, Federal Reserve Board’s Vice Chair (2011)
A. P. Behrer, E. L. Glaeser, G. Ponzetto and A. Shleifer,

"Securing Property Rights"


Forthcoming in Journal of Political Economy, 2021

Published in Journal of Political Economy, 125 (6), 2017, 2126-2177. DOI. Repository.

Regular publications and media

Reports, studies et al.

Speeches, conference remarks, opening addresses etc. 

  • P. Hernández de Cos, Governor of the Bank of Spain (2019 and 2018
  • V. Constâncio, Vice-President of the ECB 1 and 2 (2015) (2013
  • Distinguished Vifredo Pareto Lecture by Jean Charles Rochet (2015): text and video (5:18) 
  • Janet Yellen, Federal Reserve Board’s Vice Chair (2011)
Broner, F., A. Martin and J. Ventura,

"On Public Spending and Economic Unions"


Forthcoming in IMF Economic Review, 2021

Published in Journal of Political Economy, 125 (6), 2017, 2126-2177. DOI. Repository.

Regular publications and media

Reports, studies et al.

Speeches, conference remarks, opening addresses etc. 

  • P. Hernández de Cos, Governor of the Bank of Spain (2019 and 2018
  • V. Constâncio, Vice-President of the ECB 1 and 2 (2015) (2013
  • Distinguished Vifredo Pareto Lecture by Jean Charles Rochet (2015): text and video (5:18) 
  • Janet Yellen, Federal Reserve Board’s Vice Chair (2011)
Vanasco, V., U. Malmendier and D. Pouzo,

"Investor Experiences and Financial Market Dynamics"


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

Published in Journal of Political Economy, 125 (6), 2017, 2126-2177. DOI. Repository.

Regular publications and media

Reports, studies et al.

Speeches, conference remarks, opening addresses etc. 

  • P. Hernández de Cos, Governor of the Bank of Spain (2019 and 2018
  • V. Constâncio, Vice-President of the ECB 1 and 2 (2015) (2013
  • Distinguished Vifredo Pareto Lecture by Jean Charles Rochet (2015): text and video (5:18) 
  • Janet Yellen, Federal Reserve Board’s Vice Chair (2011)
Debortoli, D.,

"Comments on “Boosting Fiscal Space: The Roles of GDP-Linked Debt and Longer Maturities” by J. I. Kim and J. D. Ostry"


Forthcoming in Economic Policy, 2020

Published in Journal of Political Economy, 125 (6), 2017, 2126-2177. DOI. Repository.

Regular publications and media

Reports, studies et al.

Speeches, conference remarks, opening addresses etc. 

  • P. Hernández de Cos, Governor of the Bank of Spain (2019 and 2018
  • V. Constâncio, Vice-President of the ECB 1 and 2 (2015) (2013
  • Distinguished Vifredo Pareto Lecture by Jean Charles Rochet (2015): text and video (5:18) 
  • Janet Yellen, Federal Reserve Board’s Vice Chair (2011)
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 Journal of Political Economy, 125 (6), 2017, 2126-2177. DOI. Repository.

Regular publications and media

Reports, studies et al.

Speeches, conference remarks, opening addresses etc. 

  • P. Hernández de Cos, Governor of the Bank of Spain (2019 and 2018
  • V. Constâncio, Vice-President of the ECB 1 and 2 (2015) (2013
  • Distinguished Vifredo Pareto Lecture by Jean Charles Rochet (2015): text and video (5:18) 
  • Janet Yellen, Federal Reserve Board’s Vice Chair (2011)
Asriyan, V.,

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


Forthcoming in The Review of Economic Studies, 2020

Published in Journal of Political Economy, 125 (6), 2017, 2126-2177. DOI. Repository.

Regular publications and media

Reports, studies et al.

Speeches, conference remarks, opening addresses etc. 

  • P. Hernández de Cos, Governor of the Bank of Spain (2019 and 2018
  • V. Constâncio, Vice-President of the ECB 1 and 2 (2015) (2013
  • Distinguished Vifredo Pareto Lecture by Jean Charles Rochet (2015): text and video (5:18) 
  • Janet Yellen, Federal Reserve Board’s Vice Chair (2011)
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 Journal of Political Economy, 125 (6), 2017, 2126-2177. DOI. Repository.

Regular publications and media

Reports, studies et al.

Speeches, conference remarks, opening addresses etc. 

  • P. Hernández de Cos, Governor of the Bank of Spain (2019 and 2018
  • V. Constâncio, Vice-President of the ECB 1 and 2 (2015) (2013
  • Distinguished Vifredo Pareto Lecture by Jean Charles Rochet (2015): text and video (5:18) 
  • Janet Yellen, Federal Reserve Board’s Vice Chair (2011)

Latest News

Board of trustees:

Partnerships: