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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.
Current Research
All working papers →Monetary and Fiscal Policy during the COVID-19 Pandemic
With David Andolfatto
Taxation and the Global Allocation of Intangibles
With Jesse LaBelle and Ana María Santacreu
Selected Publications
All publications →Domestic Policies and Sovereign Default
With Emilio Espino, Julian Kozlowski and Juan M. Sánchez · American Economic Journal: Macroeconomics
Money, Banking and Financial Markets
With David Andolfatto and Aleksander Berentsen · Review of Economic Studies
Debt, Inflation and Central Bank Independence
European Economic Review
On the Joint Determination of Fiscal and Monetary Policy
Journal of Monetary Economics
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