Disclaimer: All views expressed here are my own and do not necessarily reflect the views of the institutions I am or was affiliated with namely the Bank of England or its policy committees, the Bank of Portugal, the Eurosystem, the Bank for International Settlements or the International Monetary Fund. All errors are my own.
PUBLICATIONS & WORKING PAPERS "Leverage and Risk Weighted Capital Requirements", (with Leonardo Gambacorta), International Journal of Central Banking, Volume 14 (5), 2018, pp. 153-191. (pdf) Bank for International Settlements, WP version (pdf),
Media Coverage: Moody´s (here), Central Banking (here)
"Macroprudential Regulation and Macroeconomic Activity", Journal of Financial Stability, Volume 25, August 2016, pp. 166-178. (pdf)
"Bank Capital and Lending: An Analysis of Commercial Banks in the United States", (with Junghwan Mok), Economics Letters, Volume 128(C), March 2015, pp. 21-24. (pdf)
"Real Effects of Financial Distress: The Role of Heterogeneity", (with Francisco Buera), Working Paper Series No. 06/2018, Bank of Portugal. (pdf)submitted
Presentations (including scheduled): CEBRA 2019, Surrey, Royal Economic Society (Warwick), NYU, NBER, LSE, Oxford, Bank of England, York, Glasgow, UBC, FRB Chicago, SED 2017, Bank of Hungary, Bank of Chile, ECB Conf. on Macroprudential Policy, ISCTE, FEP, Kings College, Nottingham, ESCB Day Ahead, BIS, EEA 2017, IEA 2017, U of Calcutta.
"To Ask or Not To Ask? Bank Capital Requirements and Loan Collateralization", (with Hans Degryse and Artashes Karapetyan), CEPR Discussion Paper No. 13331, November 2018. (pdf)Revision requested bythe Journal of Financial Economics Bank of England Underground Blog Post: (here)
Presentations (including scheduled): IBEFA 2019, Bank of Ireland Conference on Macroprudential Policy, EFA 2018, CEPR Lenzerheide, Riksbank, Bundesbank, UPF, Carlos III, Lille 2, FMA, Bonn, Bank of France, Maastricht, SGF Zurich.
An earlier version of this paper was circulated under the title "To Ask or not to Ask: Collateral vs. Screening in Lending Relationships". Working Paper Series No. 19/2018, Bank of Portugal. (pdf)
"Do Households Care About Cash? Exploring the Heterogeneous Effects of India's Demonetization", (with Abhinav Narayanan), REM Working Paper Series 073-2019, February 2019. (pdf)submitted
"Global Capital Flows and the Role of Macroprudential Policy", (with Diogo Lima), draft available upon request.
"Financial Depth in the WAEMU: Benchmarking Against Frontier SSA Countries", (with Calixte Ahokpossi, Kareem Ismail, and Mesmin Koulet-Vickot), International Monetary Fund, WP 13/161. (pdf) POLICY WORK
GDP at risk: A semi-structural approach (with David Aikman and Kristina Bluwstein) How important is access to finance for firms' performance in crisis episodes? Special volume on the challenges for the Portuguese economy, to be released in the fall of 2019.
Discussion of "Financial Conditions and Growth at Risk in Portugal", April 2018, Paper presented during the Article IV consultation meetings with the IMF. (slides)
Bank Business Models: Developments and Future Challenges, (with Diana Bonfim and Ettore Panetti), January 2018, Staff discussion note (financial intermediation division) for presentation to the Governor.
Understanding the Basel III Leverage Ratio, (with Dina Batista), Economic Studies Bulletin of the Bank of Portugal, Vol 4(III), October 2017, p.p. 19-41. (pdf) Capitalization & Credit Provision: Evidence from the Unites States, Banco de Portugal, Economic Bulletin, Spring 2014, p.p. 79-89. (pdf)
Financial Development: Level Depth and Access, Chapter 20, Building Integrated Economies in West Africa: Lessons in Managing Growth, Inclusiveness and Volatility, International Monetary Fund Publication, ISBN: 978151351832. (book link)
WORK IN PROGRESS
How Does Corporate Finance Affect Corporate Investment and Productivity in the UK, (with Marko Melolinna and Srdan Tatomir) Serial Entrepreneurship and Firm Dynamics, (with Sonia Felix and Petr Sedlacek)
The Dynamics of Misallocation in Portugal: Evidence from Micro Data, (with Ryan Banerjee, Enisse Kharroubi, and Fabrizio Zampolli)