I am a Research Economist at the Bank of Spain. My research focuses on policy-relevant topics such as bank capital regulation, the determinants of bank credit supply, bank lending specialization, optimal capital allocation in the economy, and its impact on economic growth and stability. In my work, I aspire to generate insights into the intended and unintended consequences of financial sector regulation that can be employed in navigating a wide range of policy decisions.
I completed my Ph.D. in Finance at the University of Zurich and the Swiss Finance Institute in 2024. My work has been published in the Journal of Financial Intermediation and the European Journal of Law and Economics. I co-authored an in-depth analysis policy paper commissioned by the European Parliament’s Committee on Economic and Monetary Affairs.
PUBLICATIONS IN PEER-REVIEWED JOURNALS
«The Countercyclical Capital Buffer and the Composition of Bank Lending»
with Raphael Auer and Steven Ongena
Journal of Financial Intermediation, 2022
Paper«Bank Capital Buffer Releases, Public Guarantee Programs, and Dividend Bans in Covid-19 Europe: An Appraisal» with Steven Ongena
European Journal of Law and Economics, 2022
Paper
POLICY PAPERS AND WORKING PAPERS
«Digitalization and Credit Markets: Evidence from eInvoicing» with Alejandro Casado, Marco Giometti, Jose E. Gutierrez, David Martinez-Miera, and Tammaro Terracciano
Conditionally accepted, Review of Finance
Paper«Stress Testing Fixed-Income Portfolios:
A Proxy Bond Approach» with Andrey Pankratov and Federico Severino
Forthcoming in Banco de España Working Paper series
«Has the relaxation of capital and liquidity buffers worked in practice?» with Steven Ongena
For the Economic Governance Support Unit of the European Parliament, 2020
Paper«Bank Specialization in Lending to New Firms» with Diana Bonfim, Ralph De Haas,
and Steven Ongena
Working paper
Paper«Payout restrictions and bank lending: evidence from a blanket dividend ban» with Hsuan Fu and Alexander Wagner
In progress