Current working papers:

Should Central Banks Issue Digital Currency?, with Daniel Sanches. Federal Reserve Bank of Philadelphia Working Paper 19-26, revised February 2020.

See also: Presentation slides

Allocating Losses: Bail-ins, Bailouts and Bank Regulation, with Yuilyan Mitkov, Discussion Paper No. 091, Collaborative Research Center Transregio 224, Universities of Bonn and Mannheim. Revised January 2021.

See also: Presentation slides

Aggregate Liquidity Management, with Daniel Sanches, Federal Reserve Bank of Philadelphia Working Paper 16-32, November 2016.

Floor systems and the Friedman rule: The fiscal arithmetic of open market operations, with Antoine Martin and Jamie McAndrews. Federal Reserve Bank of New York Staff Report No. 754, December 2015.

See also: Presentation slides

Work in progress:

Transparency vs. Ambiguity in Bailout Policy (with Ok Lee)

Private sunspots (with Yuliyan Mitkov)

Older unpublished work:

Liquidity Crises and Discount Window Lending: Theory and Implications for the Dollarization Debate, with Gaetano Antinolfi, Centro de Investigacion Economica Discussion Paper 00-02, ITAM, September 2000.