PUBLICATIONS ---
2018-2017
Title | Journal | BCBS Author | Jointly with |
| Financing Constraints, Radical versus Incremental Innovation, and Aggregate productivity | American Economic Journal: Macroeconomics. | Andrea Caggese | Christoph Albert |
| Credit Growth, Rational Bubbles and Economic Efficiency | Comparative Economic Studies, Vol. 60, Issue 1, 2018 | Xavier Freixas | |
| Firing the Wrong Workers: Financing Constraints and Labor Misallocation | Journal of Financial Economics. | Andrea Caggese | Joint with Vicente Cunat and Daniel Metzger |
| NETS: Network Estimation for Time Series | Journal of Applied Econometrics | Christian Brownlees | Matteo Barigozzi |
| Impulse Response Estimation By Smooth Local Projections | The Review of Economics and Statistics | Christian Brownlees | Regis Barnichon |
| Evaluating the accuracy of tail risk forecasts for systemic risk measurement | Annals of Financial Economics | Christian Brownlees | Giuseppe Cavaliere and Alice Monti |
| Constraints on LTV as a macroprudential tool: a cautionary tale | Oxford Economic Papers. | José Montalvo | Josep Raya |
| Regulatory Sanctions and Reputational Damage in Financial Markets | Journal of Financial and Quantitative Analysis | José-Luis Peydró and Andrea | Enrico Sette |
| Bank earnings and regulatory capital management using available for sale securities | Review of Accounting Studies. December 2017, Volume 22, Issue 4, pp 1761–1792 | Javier Gomez-Biscarri | Mary E. Barth, Ron Kasznik and Germán López-Espinosa |
2017-2016
Title | Journal | BCBS Author | Jointly with |
| Capital flows and the international credit channel | Journal of International Economics ( Forthcoming) | Julian di Giovanni and José-Luis Peydró | Yusuf Soner Baskaya,Sebnem Kalemli-Özcan, and Mehmet Fatih Ulu |
| Does mandatory shareholder voting prevent bad acquisitions? | Review of Financial Studies 29(11), 3035–3067,November 2016 | Andrea Polo | Becht, M. and Rossi, S. |
| Securities trading by banks and credit supply: micro-evidence | Journal of Financial Economics 121(3), 569–594, September 2016 | José-Luis Peydró | Abbassi, P., Iyer,R., and Tous, F. |
| Double bank runs and liquidity risk management. | Journal of Financial Economics 122(1), 135–154,October 2016 | Filippo IppolitoJosé-Luis Peydró and Andrea Polo | Enrico Sette |
| Information and investment under uncertainty. | Economic Letters 148, 17–22, November 2016 | Javier Gil-Bazo | Dumitrescu, A. |
| Relationship and transaction lending in a crisis. | Review of Financial Studies 29(10), 2643–2676, October 2016 | Xavier Freixas | Bolton, P., Gambacorta, L.and Mistrulli, P.E |
| Incentives for early adoption of carbon capture technology:Further considerations from a European perspective. | Energy Policy 90, 246–252, March 2016 | Albert Banal-Estañol | Eckhause, J. and Massol, O. |
2015-2014
Title | Journal | BCBS Author | Jointly with |
| Monetary conditions and banks’ behaviour in the Czech Republic. | Open Economies Review 26(3), 407–445, May 2015 | José-Luis Peydró | Geršl, A., Jakubik, P., Kowalczyk, D.and Ongena, S. |
| Joining the CCS club! The economics of CO2 pipeline projects. | Research Policy 44(6), 1160–1175, July 2015 | Albert Banal-Estañol | Massol, O. and Tchung-Ming, S. |
| The double-edged sword of industry collaboration: Evidence from engineering academics in the UK. | European Journal of Operational Research 247(1), 259–275, November 2015 | Albert Banal-Estañol | Jofre-Bonet, M. and Lawson, C. |
| Merger Failures. | Journal of Economics & Management Strategy. | Albert Banal-Estañol | Jo Seldeslachts (Amsterdam) |
| Screening and Merger Activity. | Journal of Industrial Economics. | Albert Banal-Estañol | Paul Heidhues (Bonn), Rainer Nitsche (ESMT) and Jo Seldeslachts |
| Empirical risk minimization for heavy-tailed losses: | Annals of Statistics 43(6), 2507-2536, 2015 | Christian Brownlees | Lugosi, G. and Joly, E. |
| Disentangling systematic and idiosyncratic dynamics in panels of volatility measures | Journal of Financial Econometrics 182(2), 364-382, 2014. | Christian Brownlees | Barigozzi, M., Gallo G.M, and Veredas D. |
| Entrepreneurial Risk, Investment and Innovation. | Journal of Financial Economics. | Andrea Caggese | |
| Cleaning up the Spanish financial sector's real estate risk exposure: situation and outlook | Spanish Economic and Financial Outlook 4(5), 53-69, 2015. | José García-Montalvo | |
| The real estate and credit bubble: Evidence from Spain | SERIEs: Journal of the Spanish Economic Association, 223-243, 2014. | José García-Montalvo | with Akin, Garcia, Peydro and Raya |
| Lines of Credit as Monitored Liquidity Insurance. | Journal of Financial Economics 112(3), 287-319, 2014. | Filippo Ippolito | V. Acharya, H. Almeida and A. Perez |
| Export diversification and resource-based industrialization: the case of natural gas | European Journal of Operational Research 237(3), 1067-1082, 2014. | Albert Banal-Estañol | Massol, O. |
| Credit Supply and Monetary Policy: Identifying the Bank Balance-Sheet Channel with Loan Applications. | American Economic Review. | José-Luis Peydró | Gabriel Jiménez, Steven Ongena and Jesús Saurina |
| The impact of industry collaboration on academic research: Evidence from UK | Research Policy (forthcoming) | Albert Banal-Estañol | Jofre-Bonet, M. and Meissner, C. |
| Back to boring banking in the age of deleveraging and new regulation | Spanish Economic and Financial Outlook 3(1), 47-59, 2014. | José García-Montalvo | |
| Regression-based analysis of cointegration systems | Journal of Econometrics 186, 32-50, 2015 | Javier Gómez Biscarri | J.Hualde |
| A residual-based ADF test for stationary cointegration in I(2) systems | Journal of Econometrics 184, 280-294, 2015 | Javier Gómez Biscarri | J.Hualde |
| Shocks abroad, pain at home? Bank-firm level evidence on financial contagion during the 2007-2009 crisis | IMF Economic Review (forthcoming) | José-Luis Peydró | Ongena, S. and van Horen, N. |
| Trusting the bankers: Another look at the credit channel of monetary policy | Review of Economic Dynamics 18(4), 979–1002, October 2015 | José-Luis Peydró | Ciccarelli, M. and Maddaloni, A. |
| Monetary policy, risk-taking and pricing: Evience from a quasi-natural experiment | Review of Finance 19(1), 95-144, 2015 | José-Luis Peydró | Ioannidou, V. and Ongena, S. |
| Hazardous times for monetary policy: what do 23 million loans say about the impact of monetary policy on credit-risk taking | Econometrica 82(2), 463-505, 2014 | José-Luis Peydró | Jimenez, G., Ongena, S., and Saurina, J. |
| The interbank liquidity crunch and firm credit crunch: Evidence from the 2007-2009 crisis | Review of Financial Studies, 27(1): 347-372, 2014. | José-Luis Peydró | Iyer, R., Lopes, S. and Schoar, A. |
2013-2012
Title | Journal | BCBS Author | Jointly with |
| Contractual Characteristics and the Returns of Private Equity Investments. | Journal of Financial Intermediation, 22, 201–217, 2013. | Filippo Ippolito | S. Caselli and M. Garcia |
| "The credit ratings game." | Journal of Finance, 67(1): 85-112, February 2012. | Xavier Freixas | P. Bolton and J. Shapiro |
| Leverage and the Pricing of Debt in LBOs. | Journal of Corporate Finance, 18, 124–137, 2012. | Filippo Ippolito | P. Colla and H. Wagner |
| The flip side of financial synergies: Coinsurance versus risk contamination | Review of Financial Studies, 26(12): 3142-3181, 2013. | Albert Banal-Estañol | M.Ottaviani and A.Winton |
| Financial crises and the transfer of risk between the private and public sectors: Evidence from European financial markets | The Spanish Review of Financial Economics, 2013. | Javier Gómez Biscarri | Corzo Santamaria M.T. and Lazcano Benito L. |
| Debt Specialization. | Journal of Finance 68(5), 2117-2141, 2013 | Filippo Ippolito | P. Colla and K. Li |
| Taming Systematically Important Financial Institutions. | Journal of Money, Credit, and Banking, 45(s1): 37-58, 2013. | Xavier Freixas | Rochet, J.C |
| Heterogeneous transmission mechanism: monetary policy and financial fragility in the eurozone | Economic Policy 28(75), 459-512, 2013. | José-Luis Peydró | Ciccarelli, M. and Maddaloni, A. |
| Research output from university-industry collaborative projects | Economic Development Quarterly 27(1), 71-81, 2013. | Albert Banal-Estañol | Macho-Stadler, I. and Perez-Castrillo, D. |
| Financial constraints, firm dynamics, export decisions, and aggregate productivity | Review of Economic Dynamics 16(1), 177-193, 2013. | Andrea Caggese | Cunat, V. |
| A Bayesian approach for capturing daily heterogeneity in intra-daily durations time series | Studies in Nonlinear Dynamics and Econometrics 17(1), 21-46, 2013. | Christian Brownlees | Vannucci, M. |
| Contractual characteristics and the returns of private equity investments | Journal of Financial Intermediation, 22 (2013), 201-217 | Filippo Ippolito | Stefano Caselli and Emilia Garcia Appendini |
| Monetary policy, macroprudential policy, and banking stability: Evidence from the Euro area | International Journal of Central Banking 9(1), 121-169, 2013 | José-Luis Peydró | Maddaloni, A. |
| Financial regulation, financial globalization, and the synchronization of economic activity | Journal of Finance 68(3), 1179-1228, 2013 | José-Luis Peydró | Kalemli-Ozcan, S. and Papaioannou, E. |
| Interbank liquidity crunch and the firm credit crunch: Evidence from the 2007-2009 crisis | Review of Financial Studies 27(1): 347-372, 2013. | José-Luis Peydró | Iyer, R., Da-Rocha-Lopes, S., and Schoar, A. |
| Entrepreneurial risk, investment and innovation | Journal of Financial Economics 106, 287-307, 2012. | Andrea Caggese |
2011-
Title | Journal | BCBS Author | Jointly with |
| “Scientific and Commercial Incentives in R&D: Research versus Development.” | Journal of Economics & Management Strategy, Vol. 19 (1), Spring 2010, pp. 185–221. | Albert Banal-Estañol | Ines Macho-Stadler (UAB) |
| “Composition of Electricity Generation Portfolios, Pivotal Dynamics and Market Power.” | Management Science, Vol. 55 (11), November 2009, pp. 1813-1831. | Albert Banal-Estañol | A. Ruperez-Micola |
| Shrinkage Estimation of Semi-Parametric Multiplicative Error Models. | International Journal of Forecasting, 2011 27(1): 365-378. | Christian Brownlees | Giampiero M. Gallo |
| "Financing Constraints and Fixed Term Employment Contracts." | The Economic Journal, n.118, 2013-2046, October 2008. | Andrea Caggese | Vicente Cuñat |
| "Testing Financing Constraints on Firm Investment Using Variable Capital." | Journal of Financial Economics n.86, 683-723, December 2007. | Andrea Caggese | |
| "The role of interbank markets in monetary policy: A model with rationing." | Journal of Money, Credit, and Banking, 40(6): 115-1176, 2008. | Xavier Freixas | J. Jorge |
| "Corporate Finance and the Monetary Transmission Mechanism." | Review of Financial Studies, 19: 829-870, 2006. | Xavier Freixas | P. Bolton |
| “A finite mixture analysis of beauty-contest data using generalized beta distributions.” | Experimental Economics, 13 (4), 461-475, 2010. | José García-Montalvo | Bosch, Nagel and Satorra |
| “The Performance of Socially Responsible Mutual Funds: The Role of Fees and Management Companies.” | Journal of Business Ethics, 94 (2), 243-263, 2010. | Javier Gil-Bazo | Pablo Ruiz-Verdú and Andre A. P. Santos |
| “The Relation between Price and Performance in the Mutual Fund Industry.” | Journal of Finance, 64 (5), 2153-2183, 2009. | Javier Gil-Bazo | Pablo Ruiz-Verdú |
| “When Cheaper is Better: Fee Determination in the Market for Equity Mutual Funds.” | Journal of Economic Behavior and Organization, 67 (3-4), 871-885, 2008. | Javier Gil-Bazo | Pablo Ruiz-Verdú |
| “Exchange rate and inflation dynamics in dollarized economies.” | Journal of Development Economics (2009). | Javier Gómez Biscarri | Jose E.Galdon-Sanchez and Luis Carranza |
| “Accounting measures and international pricing models: justifying accounting homogeneity.” | Journal of Accounting and Public Policy (2008). | Javier Gómez Biscarri | German Lopez Espinosa |
| "Structural Changes in Volatility and Stock Market Development: Evidence for Spain." | Journal of Banking and Finance (2004). | Javier Gómez Biscarri | Fernando Perez de Gracia and Juncal Cunado |
| "The relationship between investment and large exchange rate depreciations in dollarized economies" | Journal of International Money and Finance 30 (2011), 1265-1279 | Javier Gómez Biscarri | Luis Carranza and Jose E.Galdon-Sanchez |
| “Financial Innovation, Macroeconomic Stability and Systemic Crises” | Economic Journal, 2008. | Ander Pérez Orive | P. Gai, S.Kapadia and S. Millard |
| "Bank Risk-Taking, Securitization, Supervision, and Low Interest Rates: Evidence from the Euro Area and U.S. Lending Standards." | Review of Financial Studies, 24, 2121-65, 2011. | José-Luis Peydró | Angela Maddaloni |
| “Interbank Contagion at Work: Evidence from a Natural Experiment.” | Review of Financial Studies, 24, 1337-77, 2011. | José-Luis Peydró | Rajkamal Iyer |
| "What Lies Beneath the Euro's Effect on Financial Integration? Currency Risk, Legal Harmonization, or Trade." | Journal of International Economics, 81, 75–88, 2010. | José-Luis Peydró | Sebnem Kalemli-Ozcan and Elias Papaioannou |
| "Syndication and Second Loan Sales" | Theoretical Economic Letters, 1(3):81-87, 2011 | Filippo Ippolito | Paolo Colla |
| "The Banking Sector Rescue in Russia" | Institute for Economies in Transition, BOFIT, Bank of Finland, No.12, 2002 | Filippo Ippolito |