Fernando M. Martin
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Macroeconomist and policy advisor
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My research spans monetary economics; fiscal and monetary policy; central bank independence; sovereign debt and default; risk sharing; and banking, financial markets and payment systems.

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Fernando M. Martin

Current Research

All working papers →
01

Monetary Policy and the COVID-19 Inflation Shock

With David Andolfatto

02

Taxation and the Global Allocation of Intangibles

With Jesse LaBelle and Ana María Santacreu

03

Fiscal Dominance

Selected Publications

All publications →
2025

Domestic Policies and Sovereign Default

With Emilio Espino, Julian Kozlowski and Juan M. Sánchez · American Economic Journal: Macroeconomics

2020

Money, Banking and Financial Markets

With David Andolfatto and Aleksander Berentsen · Review of Economic Studies

2015

Debt, Inflation and Central Bank Independence

European Economic Review

2011

On the Joint Determination of Fiscal and Monetary Policy

Journal of Monetary Economics

2009

A Positive Theory of Government Debt

Review of Economic Dynamics

Latest policy writing

July 15, 2026 · On the Economy

Between Headline and Core: Inflation Excluding Energy Goods


March 3, 2026 · On the Economy

The Dual Mandate in Conflict: Balancing Current Tensions between Inflation and Employment


October 17, 2025 · On the Economy

Is the U.S. in an Above-Target Inflation Regime?

© Fernando M. Martin

 

Views expressed here are my own and do not necessarily reflect those of the Federal Reserve Bank of St. Louis or the Federal Reserve System.