Dominant Currency Debt (with Semyon Malamud (EPFL)), BIS Working Paper (No. 783) version, R&R at the Journal of Financial Economics

Global Banks, Dollar Funding, and Regulation (with Iñaki Aldasoro (BIS) and Torsten Ehlers (BIS)), BIS Working Paper (No. 708) version, R&R at the Journal of International Economics

Spillovers of Funding Dry-ups  (with Iñaki Aldasoro (BIS), Florian Balke (Goethe U) and Andreas Barth (Goethe U))

“Matching Prime Brokers and Hedge Funds,” SIEPR Discussion Paper No. 16-014.

“Intermediary Funding Liquidity and Rehypothecation as Determinants of Repo Haircuts and Interest Rates”

“From Wood to Coal May Well Be From Malthus to Solow,” (with D. Garcia-Macia).


“September stress in dollar repo markets: passing or structural?” (with Fernando Avalos (BIS) and Torsten Ehlers (BIS)), BIS Quarterly Review, December 2019, pp. 12-14.

Selected Media Coverage: Financial Times 1, Financial Times 2, The Economist, FT Alphaville, Bloomberg 1Bloomberg 2, Bloomberg TV, Washington PostWall Street Journal 1, Wall Street Journal 2, Barron’s, Reuters, Frances Coppola blog, Zerohedge.

“Investment mandates and fire sales: the case of mutual funds and BBB bonds” (with S. Aramonte), BIS Quarterly Review, March 2019, pp. 12-13.

Selected Media Coverage: Financial Times, Bloomberg, Barron’s, Irish Independent

“Financial markets remain vulnerable to year-end stress” (with S. Aramonte), BIS Quarterly Review, March 2019, pp. 8-9.

“The changing shape of interest rate derivatives markets,” (with T. Ehlers), BIS Quarterly Review, December 2016, pp. 53 – 65.

Media Coverage: Bloomberg

“Non-US banks’ global dollar funding grows despite US money market reform,” (with I. Aldasoro, T. Ehlers, R. McCauley), BIS Quarterly Review, March 2017, pp. 22 – 23.

Media Coverage: FT Alphaville, RiskNet

“Can CCPs reduce repo market inefficiencies?” (with I. Aldasoro and T. Ehlers), BIS Quarterly Review, December 2017, pp. 13-14.