"Financial Constraints, Bankruptcy Regimes and Firm Dynamics" [current draft]
The paper extends a simple agency model of firm dynamics to allow for a reorganization bankruptcy
regime as an alternative to the traditional liquidation regime.
"From Institutions to Financial Frictions and Growth: What are the Links?" (with Andrés Fernández) [current draft]
We present an integrated overview of the literature linking institutions, financial development and economic growth.
"Investor protection and optimal contracts under risk aversion and costly state verification" [current draft]
I study the role of imperfect investor
protection in shaping the terms of the optimal contract when borrowers
are risk averse and state
verification is costly. I derive some new formal results and present quantitative results for some
parametrizations of the contracting problem.
"Capital Flows and Sudden Stops: History, Theory and a New Estimation" (in Spanish with A. Vargas). Originally published in
Coyuntura Economica Vol. 37 No. 2, Fedesarrollo; Bogotá; February 2008. Reprinted in: Monetaria, CEMLA, Vol XXXI No. 1 Jan-Mar, 2008.
Slides & Notes: