I have accepted the position of Assistant Professor in the Department of Real Estate and Urban Land Economics (Wisconsin School of Business) at University of Wisconsin - Madison. My research interests are in: - Financial Economics: collateral, repo markets, rehypothecation, leverage, bubbles, Ponzi schmes, curreny squeezes, bourse structures. - Public and Urban Economics: Tiebout economies, local public goods, societal stratification. - Political Economy: institutional design, fiscal unions. Please, find my research below.
Publications
Securities Market Theory: Possession, Repo and Rehypothecation (with Jean-Marc Bottazzi and Mario Pascoa), Journal of Economic Theory (2012)
By introducing repo markets we understand how agents need to borrow issued securities before shorting...
Heterogeneous Tiebout Communities with Private Production and Anonymous Crowding, Regional Science and Urban Economics (accepted for publication) (2012)
This paper provides a general equilibrium model where jurisdictions offer not only public goods, but...
Working papers
The Dollar Squeeze of the Financial Crisis (with Jean-Marc Bottazzi, Mario Pascoa, and Suresh Sundaresan), Univ. Carlos III de Madrid, Working Paper 11-39, December 2011. (2011)
By Covered Interest rate Parity (CIP), the FX swap implied currency interest rates should coincide...
Endogenous bourse structures (with Marta Faias), Working paper 11-06, Universidad Carlos III de Madrid. (2011)
We propose a novel approach to the microstructure theory of financial markets. A bourse is...
Fiscal Union Consensus Design under the Risk of Autarky (with Massimo Morelli and José Tavares), CEPR Discussion Paper 8552 (2011)
Inspired by the current debate over the future of the monetary union in Europe, this...
Repo, short-selling and security bubbles (with Jean Marc Bottazzi and Mario R. Páscoa), Working paper 11-19, Universidad Carlos III de Madrid (2011)
Securities markets theory includes repo and distinguishes shorting from issuing. Here we revisit whether trading...
Formation of jurisdictions in heterogeneous mixed communities (2009)
We build an economy where geographically mixed consumers with heterogeneous income levels form jurisdictions according...