Google Scholar Profile


Did the Introduction of Inflation Targeting Represent a Regime Switch of Monetary Policy in Latin America” with Sebastián Cadavid (2020) in Inflation Expectations, Their Measurement and the Estimate of Their Degree of Anchoring, A. Guarín, L. Melo and E. González (editors) Centro de Estudios Monetarios Latinoamericanos.

Bank capital buffers around the world: Cyclical patterns and the effect of market power” with Oscar Carvallo (2018), Journal of Financial Stability 38 (October): 119-131 .

Monetary Policy and Financial Stability in Latin America and the Caribbean, Alberto Ortiz (editor) (2018) Centro de Estudios Monetarios Latinoamericanos. ISBN English version: 978-607-7734-89-5, ISBN Spanish version: 978-607-7734-90-1 available here.

Targeting Long-Term Rates in a Model with Financial Frictions and Regime Switching” with Sebastián Cadavid and Gerardo Kattan (2018) in Monetary Policy and Financial Stability in Latin America, A. Ortiz (editor) Centro de Estudios Monetarios Latinoamericanos. Spanish version available here and presentation available here.

International Spillovers of Monetary Policy, Ángel Estrada García and Alberto Ortiz Bolaños (editors) (2017) Banco de España and Centro de Estudios Monetarios Latinoamericanos. ISBN: 978-607-7734-84-0.

El impacto de la crisis financiera global de 2008 sobre las economías latinoamericanas: el papel de los fundamentos económicos” with Johana Maritsa Hernández Henao and Pedro Quintanilla Dieck (2015) in La Gran Recesión: Lecciones y Oportunidades para México, R. Santillán (editor) Tecnológico de Monterrey e Instituto de Ejecutivos de Finanzas.

Estimating Credit Indexation in a Financial Accelerator Model” with Charles Carlstrom, Timothy Fuerst, and Matthias Paustian (2014), Journal of Economics Dynamics and Control, 46(September): 130-149.

Credit Market Shocks, Monetary Policy, and Economic Fluctuations” (2013), Monetaria, 35(2): 317-369.

Monetary and Fiscal Policies in a Sudden Stop: Is Tighter Brighter?” with Pablo Ottonello, Federico Sturzenegger, and Ernesto Talvi (2009) in Dealing with an International Credit Crunch: Policy Responses to Sudden Stops in Latin America, E. Cavallo and A. Izquierdo (eds.) Inter-American Development Bank.

Estimating South African Reserve Bank’s Policy Reaction Rule” with Federico Sturzenegger (2007), South African Journal of Economics, 75(4): 659 – 680.

Factores de Competitividad, Situación Nacional y Cadena Productiva de la Industria del Calzado en León, Guanajuato” with André Martínez (2000) Economía, Sociedad y Territorio, 2(7): 533-568.

Working Papers

Monetary and Fiscal Policies Interactions in Mexico, 1981-2016” with Sebastián Cadavid and André Martínez Fritscher presentation.

Credit Risk and the Macroeconomy: Evidence from an Estimated DSGE Model” with Simon Gilchrist and Egon Zakrajšek, presented at the JMCB/FRB Conference.

On the Relative Importance of Trend Shocks and Financial Frictions for Small Open Economies´ modeling” with Jacob Wishart, presented at the AEA Meeting.

Net Stable Funding Ratio and Financial Stability: Global Evidence” with Oscar Carvallo, Jonathan Barboza and Ignacio Garrón presented at the Regional Conference on the Implementation of International Financial Standards.

Work in Progress

Effect of corruption on government expenditure“.

Financial conditions and monetary policy: the importance of non-linear effects” with Sebastián Cadavid presented at the VIII Meeting of CEMLA’s Heads of Financial Stability.

Inflation Formation Processes, Monetary Policy, and Shock Volatilities in Brazil, Chile, Colombia, Mexico and Peru” with Sebastián Cadavid.

Monetary and Fiscal Policies Interactions in Latin America” presented at the CEMLA-ECB Conference on The Interface between European and Latin American Monetary Policy Implementation.

How Brazil, Chile, Colombia, Mexico and Peru have responded to terms of trade shocks during inflation targeting?” presented at the XII Meeting of Monetary Policy Managers.

Characterization of Latin America Macroeconomic Policy Mix” with Maritza Hernández.

“Managerial practices and productivity in Mexico” with Jorge Mendoza.

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