Publications

The Relationship between Sovereign Debt and Politics (with Yanne Horas, Anahi Wiedenbrug, and Maia Colodenco) for Social Research: An International Quarterly; Fall 2024

Reforming the IMF Surcharge Rate Policy to Reform Procyclical Lending (with Kevin Gallagher, Joseph E. Stiglitz and Marilou Uy), The Journal of Globalization and Development, September 12, 2024

The Practice of Sovereign Debt Sustainability Analysis, (with Joseph E. Stiglitz), Friedrich-Ebert-Stiftung (FES); August 2024

Post-neoliberal globalization: international trade rules for global prosperity, (with Joseph E. Stiglitz), Oxford Review of Economic Policy; June 12, 2024

Power in sovereign debt markets: debtors’ coordination for more competitive outcomes (with Maia Colodenco and Anahi Wiedenbrug), Industrial and Corporate Change, 2024, 33, 507-518

The pandemic economic crisis, precautionary  behavior,  and mobility constraints: an application of the dynamic disequilibrium model with randomness, (with Joseph E. Stiglitz), Industrial and Corporate Change 30 (2), 467-497, 2021.

Economic fluctuations and pseudo-wealth (with Joseph E. Stiglitz), Industrial and Corporate Change 30 (2), 297-315, 2021.

Pseudo-Wealth and Consumption Fluctuations (with Joseph E. Stiglitz), The Economic Journal, 131, 372–391, 2021.

An analysis of Argentina’s 2001 default resolution, Comparative Economic Studies 62 (4): 701-738, 2020.

Towards a dynamic disequilibrium theory with randomness (with Joseph E. Stiglitz), Oxford Review of Economic Policy 36 (3),621-674, January 19, 2020.

An analysis of Puerto Rico’s debt relief needs to restore debt sustainability (with Pablo Gluzmann and Joseph E. Stiglitz), CENTRO Journal, 30(3), 104-146, 2018.

The Elements of Sovereign Debt Sustainability Analysis, Centre for International Governance Innovation Paper No. 196; November 2018.

Real Exchange Rate Policies for Economic Development (joint with José Antonio Ocampo and Joseph E. Stiglitz), World Development, 110 (2018), pp.51-62 – Also as NBER Working Paper No. 23868 (October, 2017) [see VoxEU column].

Assessing the Robustness of the Relationship between Financial Reforms and Banking Crises (joint with Pablo Gluzmann), Journal of International Financial Markets, Institutions, and Money; Volume 49, pp.32-47, July 2017.

Pseudo-Wealth and Consumption Fluctuations  (joint with Joseph E. Stiglitz), NBER Working Paper No. 22838 – [SLIDES]

An Analysis of Argentina’s 2001 Default Resolution; Centre for International Governance Innovation Paper No. 110, October 2016. [También en español, Revista de Economía Política de Buenos Aires 17: 49-104, 2018]

The IMF Debt Sustainability Analysis: Issues and Problems (with Daniel Heymann); Journal of Globalization and Development, Volume 6, Issue 2, pp.387-404, January 2016.

Creating a Framework for Sovereign Debt Restructuring that Works (with Joseph E. Stiglitz), In Too Little, Too Late: The Quest for Resolving Sovereign Debt Crises. Chapter 1; Columbia University Press, New York, 2016.

Introduction (with José Antonio Ocampo and Joseph E. Stiglitz). In Too Little, Too Late: The Quest to Resolve Sovereign Debt Crises, Columbia University Press, New York, 2016, pp. XIII-XXII.

A Theory of Pseudo-Wealth (with Joseph E. Stiglitz), In Contemporary Issues in Macroeconomics: Lessons from the Crises and Beyond, Chapter 3. Palgrave, 2015.

Learning, Expectations, and the Financial Instability Hypothesis (with Peter Howitt), In Contemporary Issues in Macroeconomics: Lessons from the Crises and Beyond, Chapter 6. Palgrave, 2015.

Financial Reforms and Financial Instability, (with Pablo Gluzmann), Ensayos Económicos 1 (61-62), 35-73, 2011.

En español

Las secuelas del “juicio del siglo”: Draw Capital Partners vs. Argentina; (con Manuel Gonzalo Casas). La Ley, Año LXXXII, No. 106 (2018)

Reestructuración de deuda soberana en una arquitectura financiera-legal con huecos; Revista Jurídica UPR pp. 611-627 (2016)

Tensiones en la ejecución de políticas de los bancos centrales en la búsqueda del desarrollo económico; (con Pablo Gluzmann). Paper awarded the Raúl Prebisch Prize by Central Bank of Argentina — Ensayos Económicos, Volume 1, Issue 65-66 (September), pp. 173-205 (2012)

Working Papers

An Updated Bridge Proposal: Toward a Solution to the Current Sovereign Debt Crises and to Restore Growth (with Ishac Diwan, Martin Kessler, Vera Songwe, Joseph E. Stiglitz), Finance for Development Lab, July 2024

Assessing the Appropriate Size of Relief in Sovereign Debt Restructuring (with Domenico Lombardi), Columbia Business School Research Paper No. 18-9 – [SLIDES]

Understanding the Relationship between Output Growth Expectations and Financial Crises, Columbia University Initiative Policy Dialogue Working Paper No. 287 (2014).

Monetary Policy and Capital Controls: Coordination in a World with Spillovers (with Joseph E. Stiglitz), presented at the 2013 IEA-Central Bank of Uruguay Meeting.

Stability of Expectations and Severity of Crises (joint with Pablo Gluzmann and Peter Howitt)

Work in Progress

Pseudo-wealth Fluctuations and Aggregate Demand Effects (joint with Joseph E. Stiglitz)

Unpublished Papers

Overborrowing Crises and The Role of Expectations.