My research studies how financial shocks are transmitted across markets, firms, and economies. This page brings together current working papers and published articles on global investors, sovereign debt, exchange rates, corporate finance, banking, and real economic outcomes.
Current research projects studying how investor demand, financial frictions, and policy shocks shape asset prices, financing decisions, and real economic outcomes. Additional links highlight data, working-paper versions, policy references, and selected presentations when available.
Studies how firms choose where to retire voluntary carbon offsets and what those choices reveal about corporate incentives, local visibility, and offset quality.
Uses transaction-level data from the Colombian stock market to trace who generates benchmark-driven demand, who absorbs it, and how index rebalancings affect prices.
Studies how foreign investors in local-currency bond markets affect intermediaries’ bond and currency positions, sovereign yields, and exchange rates.
Studies how investor demand influences sovereign borrowing capacity, default risk, bond prices, and government debt policy.
Studies how shifts in investor demand affect firm financing, debt issuance, and real investment.
Studies how firms use green versus conventional debt and the associated environmental consequences.
Published articles are listed in reverse chronological order with journal or issue-cover images, coauthors, a short description, and links to published versions, ungated versions, coverage, data, or related materials when available.
Studies how anti-money-laundering policies affect bank deposits, credit supply, and real economic outcomes.
Studies how ETFs affect the sensitivity of emerging-market capital flows and asset prices to global financial conditions.
Studies investor behavior in large international corporate bond issuances and how firms respond to bond-market demand.
Studies how sovereign debt inflows affect domestic asset prices and generate distributional effects across firms and investors.
Shows how sovereign debt inflow shocks can transmit to the real economy through financial markets and credit conditions.
Uses index rebalancings to study the impact of capital flows on sovereign debt markets and asset prices.
Studies how sovereign access to foreign credit affects bank lending and private access to credit in an emerging market.
Studies how benchmark indexes shape international asset allocations and capital flows across countries.
Reassesses the role and effects of financial globalization in emerging economies.
Studies real and financial linkages between emerging economies and global financial markets during the 2000s.