I am an Associate Professor of Economics and International Affairs at George Washington University in Washington, D.C. I am an affiliated faculty at the Elliott School of International Affairs and the Institute for International Economic Policy at GWU and currently the Director of the Center of Economic Research at George Washington University. My main fields of research are International Finance, Financial Economics, Empirical Banking, and Open Economy Macroeconomics. My research focuses on the intersection of global capital markets and sovereign debt, with particular emphasis on how investor behavior shapes financial markets, borrowing costs, and macroeconomic outcomes. My work has been published in leading economics and finance journals and has informed policy discussions at central banks and international organizations.
More personally, I grew up in Buenos Aires, and studied economics at Universidad del CEMA. Afterwards, I moved to Barcelona and completed the Msc. in Economics at Barcelona GSE. Later on, I received my Ph.D. in Economics and Finance from Universitat Pompeu Fabra. I also spent one year as a visiting doctoral student in the Financial Markets Group (FMG) at the London School of Economics and Political Science.
Research
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- “How ETFs Amplify the Global Financial Cycle in Emerging Markets”, with Nathan Converse and Eduardo Levy Yeyati, 2023, Review of Financial Studies, vol. 36 (9), pp. 3423–3462.
- “Large International Corporate Bonds: Investor Behavior and Firm Responses”, with Charles Calomiris, Mauricio Larrain and Sergio Schmukler, 2022, Journal of International Economics, vol. 137.
- “Winners and Losers from Sovereign Debt Inflows”, with Fernando Broner, Alberto Martin, and Lorenzo Pandolfi, 2021, Journal of International Economics, vol. 130.
- “Real Effects of Sovereign Debt Inflow Shocks”, with Lorenzo Pandolfi, 2020, AEA Papers and Proceedings, vol. 110, pp. 511-15.
- “Capital Flows and Sovereign Debt Markets: Evidence from Index Rebalancings”, with Lorenzo Pandolfi, 2019, Journal of Financial Economics, vol. 132 (2), pp. 384-403.
- “Capital Inflows, Sovereign Debt and Bank Lending: Micro-Evidence from an Emerging Market”, 2018, Review of Financial Studies, vol. 31 (12), pp. 4958-4994.
- “International Asset Allocations and Capital Flows: The Benchmark Effect”, with Claudio Raddatz and Sergio Schmukler, 2017, Journal of International Economics, vol. 108, pp. 413-430.
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- “Global Investors in Local-Currency Bond Markets: Implications for Bond Yields and Exchange Rates”, with Pierre De Leo, Lorena Keller, Giuliano Simoncelli, and Mauricio Villamizar Villegas.
- “Inelastic Demand Meets Optimal Supply of Risky Sovereign Bonds”, with Matias Moretti, Lorenzo Pandolfi, Sergio Schmukler, and German Villegas-Bauer.
- “The Anatomy of Index Rebalancings: Evidence from Transaction Data”, with Mariana Escobar, Lorenzo Pandolfi, and Alvaro Pedraza.
- “Drug Money and Bank Lending: The Unintended Consequences of Anti-Money Laundering Policies”, with Pablo Slutzky and Mauricio Villamizar-Villegas, conditionally accepted at Journal of Law, Economics, and Organization.
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Work in progress
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- “Demand Shocks in Equity Markets and Firm Financing”, with Fernando Broner, Juan Jose Cortina Lorente and Sergio Schmukler.
- “Green versus Conventional Corporate Debt: From Issuances to Emissions”, with Juan Jose Cortina Lorente, Claudio Raddatz, and Sergio Schmukler.
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Book chapters
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- “The Impact of Benchmark Investing by Institutional Investors on International Capital Allocations”, with Claudio Raddatz and Sergio Schmukler, Proceedings of the Sixth BIS/World Bank/Bank of Canada Public Investors’ Conference, 2018.
- “Financial Globalization in Latin America and the Caribbean: Myth, Reality, and Policy Matters”, with Eduardo Levy Yeyati, Emerging Issues in Financial Development: Lessons from Latin America, edited by Tatiana Didier and Sergio Schmukler.
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Contact
George Washington University
Department of Economics
2115 G Street, NW
Room 304
Washington, DC 20052
Department of Economics
2115 G Street, NW
Room 304
Washington, DC 20052