Working Papers  

• Credit and Firm Growth, (March 2026) joint with Andrea Loren Sy

 

• Firm Heterogeneity, Capital Misallocation and Optimal Monetary Policy (New version! January 2026) joint with Galo Nuño and Dominik Thaler

               Resubmitted, Journal of Political Economy
​               [Codes]  [ BdE DT2145] Media impact: SUERF, VoxEU, ECB Research Bulletin

• Non-linear Productivity and Investment Dynamics (Sept. 2022) joint with Giulio Fella, Julio Gálvez,  Tatsuro Tsenga and Juan Carlos Ruiz-García  

 

• ​Macroeconomics, Firm Dynamics and IPOs  (Oct. 2020)

​​              [ BdE DT2030 ]
               Best Young Paper Award Unicredit Foundation, 7th Workshop Macro Banking and Finance 2019

Publications

• A Tale of Two Margins: Monetary Policy and Capital Misallocation  joint with Silvia Albrizio and Dmitry Khametshin  

              European Economic Review, Volume 185, May 2026, 105278
              [ BdE DT2302 ] Media impact: SUERF

• Discussion of "Business creation during COVID-19", by Bahaj, Piton and Savagar
  Economic Policy, Volume 39, Issue 119, July 2024, Pages 649–651

​

• Green Policies and Transition Risk Propagation in Production Networks, joint with Pablo Aguilar and Samuel Hurtado
  Economic Modelling, Volume 126, September 2023, 106412

               Previously circulated as "Carbon Tax Sectoral (CATS) Model: a Sectoral Model for Energy Transition Test Scenarios"
              [ BdE DO2218 ]
​

• Income Inequality and Entrepreneurship: Lessons from the 2020 COVID Recession  joint with Christoph Albert, Andrea Caggese and Victor Martin-Sanchez
  ​Journal of Banking and Finance, Volume 149, April 2023

 

• Firm Level Heterogeneity in the Impact of the COVID-19 Pandemic  joint with Alejandro Fernández-Cerezo, Mario Izquierdo and Enrique Moral-Benito
  Applied Economics; Volume 55, 2023, Issue 42

​              [ BdE DT2120 ]  Media impact: VoxEU.org, SUERF

• Schumpeter meets Goldilocks: the Scarring effects of Firm Destruction, joint with Enrique Moral-Benito and Isabel Soler
  ​SERIEs, Volume 14, 2023,  pages 555–577

              [ BdE DO2216 ]

• Taxation and the Life Cycle of Firms joint with Andrés Erosa

​         ​    [ Online Appendix ] [ WP ]
              Journal of Monetary Economics, Volume 105; August 2019

Work in Progress

• Taxation and Innovation, joint with Andrés Erosa ​​

​​