Recent Publications

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

"Investor Experiences and Financial Market Dynamics"


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

Previously circulated as ‘Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data’.

Outreach: CentralBanking.com (2020) · Keynote speeches by Philip R. Lane (ECB Executive Board) Berlin and New York (2020) & Helsinki and London (2019) · ECB Economic Bulletin no. 3 (2020) · IMF Global Financial Stability Report: Markets in the Time of COVID-19 (2020) · IMF World Economic Outlook report (2020) · Danmarks Nationalbank, Analysis: Positive pass-through from negative rates no. 5 (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · VoxEU posts August and April 2020 · 2019 · Speech by Boštjan Vasle Governor of the Bank of Slovenia (2019)

Monràs, J.,

"Local Adjustment to Immigrant-Driven Labor Supply Shocks"


Forthcoming in Journal of Human Capital, 2020

Previously circulated as ‘Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data’.

Outreach: CentralBanking.com (2020) · Keynote speeches by Philip R. Lane (ECB Executive Board) Berlin and New York (2020) & Helsinki and London (2019) · ECB Economic Bulletin no. 3 (2020) · IMF Global Financial Stability Report: Markets in the Time of COVID-19 (2020) · IMF World Economic Outlook report (2020) · Danmarks Nationalbank, Analysis: Positive pass-through from negative rates no. 5 (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · VoxEU posts August and April 2020 · 2019 · Speech by Boštjan Vasle Governor of the Bank of Slovenia (2019)

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

Previously circulated as ‘Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data’.

Outreach: CentralBanking.com (2020) · Keynote speeches by Philip R. Lane (ECB Executive Board) Berlin and New York (2020) & Helsinki and London (2019) · ECB Economic Bulletin no. 3 (2020) · IMF Global Financial Stability Report: Markets in the Time of COVID-19 (2020) · IMF World Economic Outlook report (2020) · Danmarks Nationalbank, Analysis: Positive pass-through from negative rates no. 5 (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · VoxEU posts August and April 2020 · 2019 · Speech by Boštjan Vasle Governor of the Bank of Slovenia (2019)

Martin, A., F. Broner and J. Ventura,

"On Public Spending and Economic Unions"


Forthcoming in IMF Economic Review, 2020

Previously circulated as ‘Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data’.

Outreach: CentralBanking.com (2020) · Keynote speeches by Philip R. Lane (ECB Executive Board) Berlin and New York (2020) & Helsinki and London (2019) · ECB Economic Bulletin no. 3 (2020) · IMF Global Financial Stability Report: Markets in the Time of COVID-19 (2020) · IMF World Economic Outlook report (2020) · Danmarks Nationalbank, Analysis: Positive pass-through from negative rates no. 5 (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · VoxEU posts August and April 2020 · 2019 · Speech by Boštjan Vasle Governor of the Bank of Slovenia (2019)

Asriyan, V.,

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


Forthcoming in The Review of Economic Studies, 2020

Previously circulated as ‘Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data’.

Outreach: CentralBanking.com (2020) · Keynote speeches by Philip R. Lane (ECB Executive Board) Berlin and New York (2020) & Helsinki and London (2019) · ECB Economic Bulletin no. 3 (2020) · IMF Global Financial Stability Report: Markets in the Time of COVID-19 (2020) · IMF World Economic Outlook report (2020) · Danmarks Nationalbank, Analysis: Positive pass-through from negative rates no. 5 (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · VoxEU posts August and April 2020 · 2019 · Speech by Boštjan Vasle Governor of the Bank of Slovenia (2019)

Debortoli, D.,

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


Forthcoming in Economic Policy, 2020

Previously circulated as ‘Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data’.

Outreach: CentralBanking.com (2020) · Keynote speeches by Philip R. Lane (ECB Executive Board) Berlin and New York (2020) & Helsinki and London (2019) · ECB Economic Bulletin no. 3 (2020) · IMF Global Financial Stability Report: Markets in the Time of COVID-19 (2020) · IMF World Economic Outlook report (2020) · Danmarks Nationalbank, Analysis: Positive pass-through from negative rates no. 5 (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · VoxEU posts August and April 2020 · 2019 · Speech by Boštjan Vasle Governor of the Bank of Slovenia (2019)

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

Previously circulated as ‘Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data’.

Outreach: CentralBanking.com (2020) · Keynote speeches by Philip R. Lane (ECB Executive Board) Berlin and New York (2020) & Helsinki and London (2019) · ECB Economic Bulletin no. 3 (2020) · IMF Global Financial Stability Report: Markets in the Time of COVID-19 (2020) · IMF World Economic Outlook report (2020) · Danmarks Nationalbank, Analysis: Positive pass-through from negative rates no. 5 (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · VoxEU posts August and April 2020 · 2019 · Speech by Boštjan Vasle Governor of the Bank of Slovenia (2019)

A. P. Behrer, E. L. Glaeser, G. Ponzetto and A. Shleifer,

"Securing Property Rights"


Forthcoming in Journal of Political Economy, 2020

Previously circulated as ‘Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data’.

Outreach: CentralBanking.com (2020) · Keynote speeches by Philip R. Lane (ECB Executive Board) Berlin and New York (2020) & Helsinki and London (2019) · ECB Economic Bulletin no. 3 (2020) · IMF Global Financial Stability Report: Markets in the Time of COVID-19 (2020) · IMF World Economic Outlook report (2020) · Danmarks Nationalbank, Analysis: Positive pass-through from negative rates no. 5 (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · VoxEU posts August and April 2020 · 2019 · Speech by Boštjan Vasle Governor of the Bank of Slovenia (2019)

Monràs, J.,

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


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

Previously circulated as ‘Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data’.

Outreach: CentralBanking.com (2020) · Keynote speeches by Philip R. Lane (ECB Executive Board) Berlin and New York (2020) & Helsinki and London (2019) · ECB Economic Bulletin no. 3 (2020) · IMF Global Financial Stability Report: Markets in the Time of COVID-19 (2020) · IMF World Economic Outlook report (2020) · Danmarks Nationalbank, Analysis: Positive pass-through from negative rates no. 5 (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · VoxEU posts August and April 2020 · 2019 · Speech by Boštjan Vasle Governor of the Bank of Slovenia (2019)

Debortoli, D., R. Nunes and P. Yared,

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


Forthcoming in Journal of Political Economy, 2020

Previously circulated as ‘Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data’.

Outreach: CentralBanking.com (2020) · Keynote speeches by Philip R. Lane (ECB Executive Board) Berlin and New York (2020) & Helsinki and London (2019) · ECB Economic Bulletin no. 3 (2020) · IMF Global Financial Stability Report: Markets in the Time of COVID-19 (2020) · IMF World Economic Outlook report (2020) · Danmarks Nationalbank, Analysis: Positive pass-through from negative rates no. 5 (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · VoxEU posts August and April 2020 · 2019 · Speech by Boštjan Vasle Governor of the Bank of Slovenia (2019)

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