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

Review of Financial Studies,  2020. DOI (Open Access)
This is an open access article distributed under the terms of the Creative Commons CC BY license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. You are not required to obtain permission to reuse this article.
Outreach: Wall Street Journal (2020) · European Systemic Risk Board‘s Advisory Scientific Committee report no. 10 on The global dimensions of macroprudential policy (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · Bank Policy Institute’s Banking Perspectives (2019) · Nada es Gratis · VoxEU 2019 & 2018

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

Review of Financial Studies,  2020. DOI (Open Access)
This is an open access article distributed under the terms of the Creative Commons CC BY license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. You are not required to obtain permission to reuse this article.
Outreach: Wall Street Journal (2020) · European Systemic Risk Board‘s Advisory Scientific Committee report no. 10 on The global dimensions of macroprudential policy (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · Bank Policy Institute’s Banking Perspectives (2019) · Nada es Gratis · VoxEU 2019 & 2018

Monràs, J.,

"Local Adjustment to Immigrant-Driven Labor Supply Shocks"


Forthcoming in Journal of Human Capital, 2021

Review of Financial Studies,  2020. DOI (Open Access)
This is an open access article distributed under the terms of the Creative Commons CC BY license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. You are not required to obtain permission to reuse this article.
Outreach: Wall Street Journal (2020) · European Systemic Risk Board‘s Advisory Scientific Committee report no. 10 on The global dimensions of macroprudential policy (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · Bank Policy Institute’s Banking Perspectives (2019) · Nada es Gratis · VoxEU 2019 & 2018

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

"Securing Property Rights"


Forthcoming in Journal of Political Economy, 2021

Review of Financial Studies,  2020. DOI (Open Access)
This is an open access article distributed under the terms of the Creative Commons CC BY license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. You are not required to obtain permission to reuse this article.
Outreach: Wall Street Journal (2020) · European Systemic Risk Board‘s Advisory Scientific Committee report no. 10 on The global dimensions of macroprudential policy (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · Bank Policy Institute’s Banking Perspectives (2019) · Nada es Gratis · VoxEU 2019 & 2018

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

"On Public Spending and Economic Unions"


Forthcoming in IMF Economic Review, 2021

Review of Financial Studies,  2020. DOI (Open Access)
This is an open access article distributed under the terms of the Creative Commons CC BY license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. You are not required to obtain permission to reuse this article.
Outreach: Wall Street Journal (2020) · European Systemic Risk Board‘s Advisory Scientific Committee report no. 10 on The global dimensions of macroprudential policy (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · Bank Policy Institute’s Banking Perspectives (2019) · Nada es Gratis · VoxEU 2019 & 2018

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

"Investor Experiences and Financial Market Dynamics"


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

Review of Financial Studies,  2020. DOI (Open Access)
This is an open access article distributed under the terms of the Creative Commons CC BY license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. You are not required to obtain permission to reuse this article.
Outreach: Wall Street Journal (2020) · European Systemic Risk Board‘s Advisory Scientific Committee report no. 10 on The global dimensions of macroprudential policy (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · Bank Policy Institute’s Banking Perspectives (2019) · Nada es Gratis · VoxEU 2019 & 2018

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

Review of Financial Studies,  2020. DOI (Open Access)
This is an open access article distributed under the terms of the Creative Commons CC BY license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. You are not required to obtain permission to reuse this article.
Outreach: Wall Street Journal (2020) · European Systemic Risk Board‘s Advisory Scientific Committee report no. 10 on The global dimensions of macroprudential policy (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · Bank Policy Institute’s Banking Perspectives (2019) · Nada es Gratis · VoxEU 2019 & 2018

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

Review of Financial Studies,  2020. DOI (Open Access)
This is an open access article distributed under the terms of the Creative Commons CC BY license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. You are not required to obtain permission to reuse this article.
Outreach: Wall Street Journal (2020) · European Systemic Risk Board‘s Advisory Scientific Committee report no. 10 on The global dimensions of macroprudential policy (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · Bank Policy Institute’s Banking Perspectives (2019) · Nada es Gratis · VoxEU 2019 & 2018

Asriyan, V.,

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


Forthcoming in The Review of Economic Studies, 2020

Review of Financial Studies,  2020. DOI (Open Access)
This is an open access article distributed under the terms of the Creative Commons CC BY license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. You are not required to obtain permission to reuse this article.
Outreach: Wall Street Journal (2020) · European Systemic Risk Board‘s Advisory Scientific Committee report no. 10 on The global dimensions of macroprudential policy (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · Bank Policy Institute’s Banking Perspectives (2019) · Nada es Gratis · VoxEU 2019 & 2018

Debortoli, D.,

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


Forthcoming in Economic Policy, 2020

Review of Financial Studies,  2020. DOI (Open Access)
This is an open access article distributed under the terms of the Creative Commons CC BY license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. You are not required to obtain permission to reuse this article.
Outreach: Wall Street Journal (2020) · European Systemic Risk Board‘s Advisory Scientific Committee report no. 10 on The global dimensions of macroprudential policy (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · Bank Policy Institute’s Banking Perspectives (2019) · Nada es Gratis · VoxEU 2019 & 2018

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