Research

Journal Articles

Imperfect Risk Sharing and the Business Cycle, Quarterly Journal of Economics, Volume 138, Issue 3, August 2023, pp. 1765–1815
(with D. Berger and A. Dovis) [paper] [data and codes]

Risk Sharing Externalities, Journal of Political Economy, Volume 131, Issue 3, March 2023, pp. 595-632
(with G. Lorenzoni) [paper] [codes]

Financial Crises, Dollarization and Lending of Last Resort in Open Economies, American Economic Review, 110, August 2020, pp. 2524-2557 
(with G. Lorenzoni) [paper] [online appendix] [data]

Exchange Rate Policies at the Zero Lower Bound, Review of Economic Studies, 87, July 2020, 1605-1645 
(with M. Amador, J. Bianchi and F. Perri)  [paper] [data and codes]

Self-Fulfilling Debt Crises: A Quantitative Analysis, American Economic Review, 109, December 2019, pp.4343-4377 
(with A. Dovis) [paper] [online appendix] [data and codes]

Quantitative Sovereign Default Models and the European Debt Crisis, Journal of International Economics, 118, May 2019, pp 20-30 
(with G. Bornstein and A. Dovis) [paper] [data and codes]

Assessing DSGE Model Nonlinearities, Journal of Economic Dynamics and Control, 83, October 2017, pp 34-54 
(with B. Aruoba and F. Schorfheide) [paper] [data and codes]

Reverse Speculative Attacks, Journal of Economic Dynamics and Control, 83, November 2016, pp 125-137 
(with M. Amador, J. Bianchi and F. Perri) [paper] [data and codes] 

The Pass-Through of Sovereign Risk, Journal of Political Economy, 124, August 2016, pp 879-926  
[paper] [online appendix] [data and codes] [The Region]

Trade and Business-Cycle Comovement: Evidence from the EU, Rivista di Politica Economica, November-December 2006 
[paper]

Working Papers

Bond Market Views of the Fed 
(with A. Dovis, K. Jorgensen and R. Kirpalani) [paper][slides] 

The Macroeconomics of Trade Credit 
(with G. Bornstein) [paper][slides] 

Sovereign Default Risk and Firm Heterogeneity 
(with C. Arellano and Y. Bai) [paper] [slides], Resubmitted to the Journal of the European Economic Association