My research interests include monetary theory, financial intermediation, macroeconomics and economic theory. 

My recent work has focused on bank runs, the industrial organization of the banking industry, government policy under multiplicity of equilibra, and monetary exchange under imperfect information. 

Avoiding the Inflation Tax, International Economic Review, forthcoming (2008). (See also FRB of Richmond Working Paper # 07-06.)

Search, Money, and Inflation under Private Information, Journal of Economic Theory 138, January 2008, pp. 101-131.

Choosing a Place to Live and a Workplace, with Santiago Pinto and Alberto Porto, Económica 52 (1-2), 2006, pp. 15-51, National University of La Plata, Argentina.

Bank Runs and Investment Decisions Revisited , with Todd Keister, Journal of Monetary Economics 53 (2), March 2006, pp.217 - 232. (See also FRB of Richmond Working Paper # 04-03 and the Supplemental Appendix .)

Optimal Fiscal Policy under Multiple Equilibria, with Todd Keister, Journal of Monetary Economics 52 (8), November 2005, pp. 1359-1377. (See also FRB of Richmond Working Paper # 03-04.)

Government Policy and the Probability of Coordination Failures , with Todd Keister, European Economic Review 49 (4), May 2005, pp. 939-973.

Privatization and Income Distribution in Argentina , with Santiago Pinto (WVU), in Reality Check: The Distributional Impact of Privatization in Developing Countries. Edited by John Nellis and Nancy Birdsall, Center for Global Development, Washington, DC.

Macroeconomic Fluctuations and Bargaining, Journal of Economic Theory 115 (2), April 2004, pp. 322-340.

Economic Growth, Liquidity, and Bank Runs, with Todd Keister, Journal of Economic Theory 109 (2), April 2003, pp. 220-245.

Loanable Funds, Monitoring and Banking, European Finance Review 5 (1-2), 2001, pp. 79-114.

Search, Monetary Equilibria, and Sunspots, Macroeconomic Dynamics 5 (1), February 2001, pp. 132-142. 

On Search Theory and Customers, Económica 46 (1), 2000, pp. 3-21, National University of La Plata, Argentina.

Interest on Reserves and Daylight Credit, with John A. Weinberg, FRB of Richmond Economic Quarterly, Spring 2007: Vol. 93, No. 2.

The Problem of Small Change in Early Argentina, FRB of Richmond Economic Quarterly, Spring 2006: Vol. 92, No. 2.

Bank Risk of Failure and the Too-Big-to-Fail Policy, with H. S. Malek, FRB of Richmond Economic Quarterly, Spring 2005: Vol. 91, No. 2.

Some Recent Trends in Commercial Banking, FRB of Richmond Economic Quarterly, Spring 2004: Vol. 90, No.2.

Economic Fundamentals and Bank Runs, FRB of Richmond Economic Quarterly, Spring 2003: Vol. 89, No.2.

On the Size Distribution of Banks, FRB of Richmond Economic Quarterly , Fall 2001: Vol. 87, No. 4.

Run Equilibria in a Model of Financial Intermediation, with Todd Keister, FRB of New York Staff Report No. 312, January 2008.

Bank Runs and Institutions: The Perils of Intervention, with Todd Keister, Federal Reserve Bank of Richmond Working Paper # 07-2, April 2007.

Commitment and Equilibrium Bank Runs , with Todd Keister, FRB of New York Staff Report No. 274, January 2007

Banking and the Political Support for Dollarization, May 2000 (part of the project 'Optimal Monetary Institutions for Mexico,' sponsored by the Instituto Technológico Autónomo de México-ITAM).

On the Admission Process to Higher Education in Argentina. An Introduction to Allocation Mechanisms, with Alberto Porto (National University of La Plata), February 2000.

Banking Policy without Commitment: Suspension of Convertibility Taken Seriously, with Todd Keister (NY Fed).

Modelo Monetario de Generaciones Superpuestas , Trabajo Docente Nro. 6 (Lecture Notes in Spanish), June 2003, National University of La Plata.



Choosing a Place to Live and a Workplace , with Alberto Porto (National University of La Plata), 1997 Annals of the Argentinean Political Economy Association.

Invited Lecturer, Graduate Macroeconomic, University of Alicante, Spain, 2006.

Invited Lecturer, Graduate Macroeconomics, National University of La Plata, Argentina, 2003.

Invited Lecturer, Economic Theory for Ph.D Students, National University of La Plata, Argentina, 2000.

Invited Lecturer, Money, Credit and Banking for M.A. Students, National University of La Plata, Argentina, 2000.

Teaching Assistant, Economics 513, Graduate Macroeconomic Theory, Professor Marcelo Veracierto, Cornell University, 1996.

Invited Lecturer, Graduate Monetary Theory, National University of La Plata, Argentina, 1996.

Invited Lecturer, Graduate Economic Growth, Torcuato Di Tella Institute, Argentina, 1995.

Teaching Assistant, Advanced Undergraduate Macroeconomics, National University of La Plata, Argentina, 1992-95.

Visiting Scholar, Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis, August 2004.



Visiting Scholar, Central Bank of Argentina, Buenos Aires, Argentina, May-June 2003.

Co-Director of Económica , National University of La Plata, Argentina, 2001-.

Ph.D Economics, Cornell University, May 2000.

M.A. Economics, Cornell University, February 1999.

M.A. Economics, Torcuato Di Tella Institute, Argentina, August 1994.

Licentiate in Economics, National University of La Plata, Argentina, April 1993.