Recent Publications

F. Boissay, F. Collard, J. Galí and C. Manea,

"Monetary Policy and Endogenous Financial Crises"


Forthcoming in The Review of Economic Studies, 2025

Published in External Financial Vulnerability and Preventive Policies, R. Caballero, C. Calderón, and L. Céspedes (eds.), Eight Annual Conference of the Central Bank of Chile, 2006, 15-39

Debortoli, D. and J. Galí,

"Heterogeneity and Aggregate Fluctuations: Insights from TANK Models"


NBER Macroeconomics Annual, 2025, 39 (1), 307-357

Published in External Financial Vulnerability and Preventive Policies, R. Caballero, C. Calderón, and L. Céspedes (eds.), Eight Annual Conference of the Central Bank of Chile, 2006, 15-39

Asriyan, V., L. Laeven, A. Martin, A. Van der Ghote and V. Vanasco,

"Falling Interest Rates and Credit Reallocation: Lessons from General Equilibrium"


The Review of Economic Studies, 2025, 92 (4), 2197-2227

Published in External Financial Vulnerability and Preventive Policies, R. Caballero, C. Calderón, and L. Céspedes (eds.), Eight Annual Conference of the Central Bank of Chile, 2006, 15-39

Fornaro, L. and F. Romei,

"An International Perspective on Inflation during the Covid-19 Recovery"


Forthcoming in 2025

Published in External Financial Vulnerability and Preventive Policies, R. Caballero, C. Calderón, and L. Céspedes (eds.), Eight Annual Conference of the Central Bank of Chile, 2006, 15-39

Ponzetto, G. and U. Troiano,

"Social Capital, Government Expenditures, and Growth"


Journal of the European Economic Association, 2025, 23 (2), 632-681

Published in External Financial Vulnerability and Preventive Policies, R. Caballero, C. Calderón, and L. Céspedes (eds.), Eight Annual Conference of the Central Bank of Chile, 2006, 15-39

Broner, F., A. Martin, C. Trebesch, J. Meyer and J. Zhou Wu,

"Hegemony and International Alignment"


American Economic Association: Papers & Proceedings, 2025, 115, 593-598

Published in External Financial Vulnerability and Preventive Policies, R. Caballero, C. Calderón, and L. Céspedes (eds.), Eight Annual Conference of the Central Bank of Chile, 2006, 15-39

G. Benigno, L. Fornaro and M. Wolf,

"The Global Financial Resource Curse"


American Economic Review, 2025, 115 (1), 220-262

Published in External Financial Vulnerability and Preventive Policies, R. Caballero, C. Calderón, and L. Céspedes (eds.), Eight Annual Conference of the Central Bank of Chile, 2006, 15-39

A. Abraham, E. Cárceles, R. Marimon and Y. Liu,

"On the Optimal Design of a Financial Stability Fund"


Forthcoming in The Review of Economic Studies, 2025

Published in External Financial Vulnerability and Preventive Policies, R. Caballero, C. Calderón, and L. Céspedes (eds.), Eight Annual Conference of the Central Bank of Chile, 2006, 15-39

L. Althoff and H. Reichardt,

"Jim Crow and Black Economic Progress After Slavery"


Quarterly Journal of Economics, 2024, 139 (4), 2279-2330

Published in External Financial Vulnerability and Preventive Policies, R. Caballero, C. Calderón, and L. Céspedes (eds.), Eight Annual Conference of the Central Bank of Chile, 2006, 15-39

Galí, J. and D. Debortoli,

"Idiosyncratic Income Risk and Aggregate Fluctuations"


American Economic Journal: Macroeconomics, 2024, 16(4), 279–310

Published in External Financial Vulnerability and Preventive Policies, R. Caballero, C. Calderón, and L. Céspedes (eds.), Eight Annual Conference of the Central Bank of Chile, 2006, 15-39

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