Publications
Who Truly Bears (Bank) Taxes? Evidence from Only Shifting Statutory Incidence
(with Gabriel Jiménez and José-Luis Peydró) Journal of Public Economics 240 (2024) 105173.
Monetary Policy, Macroprudential Policy, and Financial Stability
(with Rafael Repullo) Annual Review of Economics 11 (2019), pp. 809-832
Search for Yield
(with Rafael Repullo) Econometrica, 85 (2017), pp. 351-378
Consumer Bankruptcy, Bank Mergers and Information
(with Jason Allen and Evren H. Damar) Review of Finance, 20 (2016), pp.1289-1320
Does Competition Reduce the Risk of Bank Failure?
(with Rafael Repullo) Review of Financial Studies, 23 (2010), pp.3638-3664
Working Papers
Banks’ Specialization and Private Information
(with Alejandro Casado) CEPR DP 20033, March 2025.
A Macroeconomic Model of Banks’ Endogenous Systemic Risk Taking
(with Jorge Abad and Javier Suarez), CEPR DP 19532, October 2024
Local Lending Specialization and Monetary Policy
(with Alejandro Casado) CEPR DP 19473, September 2024.
Public Guarantees, Relationship Lending and Bank Credit: Evidence from the COVID-19 Crisis
(with Gabriel Jiménez, Luc Laeven and Jose Luis Peydró), CEPR DP DP17110, March 2022.
Bank Runs, Bank Competition and Opacity
(with Toni Ahnert) CEPR DP 16207, July 2021.
Interest Rates, Market Power, and Financial Stability
(with Rafael Repullo) CEPR DP 15063, July 2020.
Markets, Banks and Shadow Banks
(with Rafael Repullo) CEPR DP 13248, October 2018.
The Creditworthiness of the Poor. A Model of the Grameen Bank
(with Michal Kowalik) Kansas Fed RWP 10-11, April 2010.
Capital Requirements and Bank Failure
mimeo.