External Publications

CEMLA staff publications in specialized journals, including the LAJCB.

 

• Political institutions, economic uncertainty and sovereign credit ratings
  Nelson R. Ramírez-Rondán, Renato M. Rojas-Rojas, Julio A. Villavicencio
  Finance Research Letters, forthcoming
  January 2023

• Panel data models with two threshold variables
  Arturo Lamadrid-Contreras, Nelson R. Ramírez-Rondán
  Studies in Nonlinear Dynamics & Econometrics, forthcoming
  July 2022

• Measuring systemic risk for bank credit networks: A multilayer approach
  Eduardo Yanquen, Giacomo Livan, Ricardo Montañez-Enríquez, Serafín Martínez-Jaramillo
  Latin American Journal of Central Banking
  April 2022

• Price, sales, and the business cycle: Microeconomic evidence
  Fernando Borraz, Giacomo Livan, Anahí Rodríguez-Martínez, Pablo Picardo
  Latin American Journal of Central Banking
  April 2022

• Contribution on an estimation of the dependency of Mexico’s banking system to ecosystem services and biodiversity loss, included in chapter 2 in the report “Central banking and supervision in the biosphere: An agenda for action on biodiversity loss, financial risk and system stability”
  Serafín Martínez-Jaramillo, Ricardo Montañez-Enríquez
  Third output of the Joint NGFS-INSPIRE Study Group on Biodiversity and Financial Stability, p. 38-40
  March 2022

• Stability and Contractual Efficiency in Matching with Contracts and Lexicographic Preferences
  Benjamín Tello
  Economics Bulletin, Vol. 0 No. 0 p.A4.
  February 2022

• Stress-ridden finance and growth losses: does financial development break the link?
  Matías Ossandon Busch, José Manuel Sánchez-Martínez, Anahí Rodríguez-Martínez, Ricardo Montañez-Enríquez, Serafín Martínez-Jaramillo and Manuel Ramos-Francia
  IWH Discussion Papers 03/2022, Halle Institute for Economic Research (IWH)
  January 2022

• Does uncertainty matter for the fiscal consolidation and capital intensity nexus?
  Ioannis Bournakis, Nelson R. Ramírez-Rondán
  MPRA Paper 111592, University Library of Munich, Germany
  January 2022

• Job finding and separation rates in an economy with high labor informality
  Nikita Céspedes, Nelson R. Ramírez-Rondán
  Research in Labor Economics, 49, 277-302
  December 2021

• Macroprudential policy and intra-group dynamics: The effects of reserve requirements in Brazil
  Chris Becker, Matias Ossandon Busch, and Lena Tonzer and Chris Becker
  Journal of Corporate Finance, vol. 71, 102096
  December 2021

• Banking globalization, local lending, and labor market effects: Micro-level evidence from Brazil
  Felix Noth, Matias Ossandon Busch
  Journal of Financial Stability, vol. 56, 100933
  October 2021

• Policy report on FinTech data gaps
  José Manuel Marqués, Fernando Ávila, Anahí Rodríguez Martínez, Raúl Morales Reséndiz, Antonio Marcos, Tamara Godoy, Pablo Villalobos, Andrea Ocontrillo, Valerie Ann Lankester, Clemente Blanco, Karla Reyes, Silvia Irina Lopez, Ana Fernández, Román Santos, Luis Ángel Maza, Manuel Sánchez, Carlos Domínguez, Natalie Haynes, Michelle Francis-Pantor
  Latin American Journal of Central Banking
  September 2021

• A network characterization of the interbank exposures in Peru
  Walter Cuba, Anahí Rodríguez Martínez, Diego A. Chavez, Fabio Caccioli, Serafín Martínez-Jaramillo
  Latin American Journal of Central Banking
  September 2021

• Banks Fearing the Drought? Liquidity Hoarding as a Response to Idiosyncratic Interbank Funding Dry-Ups
  Helge CN Littke, Matias Ossandon Busch
  Journal of International Money and Finance
  August 2021

• How are network centrality metrics related to interest rates in the Mexican secured and unsecured interbank markets?
  Isela-Elizabeth Téllez-León, Serafín Martínez-Jaramillo, Luis O. L. Escobar-Farfán, Ronald Hochreiter
  Journal of Financial Stability, Volume 55
  August 2021

• Retail payments and financial inclusion in Latin America and the Caribbean: identifying gaps and opportunities
  Raúl Morales Reséndiz, Milton Vega, José Aurazo, Anahí Rodríguez Martínez
  Journal of Financial Market Infrastructures
  July 2021
  

• The contribution of the intra-firm exposures network to systemic risk
  Victoria Landaberry, Fabio Caccioli, Anahí Rodríguez Martínez, Andrea Barona, Serafín Martínez-Jaramillo, Rodrigo Lluberas
  Latin American Journal of Central Banking
  June 2021

• Banks fearing the drought? Liquidity hoarding as a response to idiosyncratic interbank funding dry-ups
  Helge C. N. Littke (Deutsche Bundesbank), Matias Ossandon Busch
  Deutsche Bundesbank No 16/2021
  May 2021

• The disciplining effect of supervisory scrutiny in the EU-wide stress test
  Christoffer Kok, Carola Müller, Steven Ongena, Cosimo Pancaro
  ECB Working Paper Series No 2551
  May 2021

• Climate risk and financial stability in the network of banks and investment funds
  Alan Roncoroni, Stefano Battistona, Luis Onésimo, Leonardo Escobar Farfán, Serafín Martínez-Jaramillo
  Journal of Financial Stability
  March 2021

• Implementing a retail CBDC: Lessons learned and key insights
  Raúl Morales Reséndiz, Jorge Ponce, Pablo Picardo, Andrés Velasco, Bobby Chen, León Sanz, Gabriela Guiborg, Björn Segendorff, José Luis Vasquez, John Arroyo, Illich Aguirre, Natalie Haynes, Novelette Panton, Mario Griffiths, Cedric Pieterz, Allister Hodge
  Latin American Journal of Central Banking
  March 2021

• Network models and stress testing for financial stability: the conference
  Special Issue Edited by Serafín Martínez-Jaramillo and Stefano Battiston
  Journal of Financial Stability
  February 2021

• Quantification of systemic risk from overlapping portfolios in the financial system
  Sebastian Poledna, Serafín Martínez-Jaramillo, Fabio Caccioli, Stefan Thurner
  Journal of Financial Stability.
  February 2021

• Systemic risk and other interdependencies among banks in Bolivia
  Jonnathan Caceres Santos, Anahí Rodríguez Martínez, Fabio Caccioli, Serafín Martínez-Jaramillo
  Latin American Journal of Central Banking
  December 2020

• Classifying payment patterns with artificial neural networks: An autoencoder approach
  Jeniffer Rubio, Paolo Barucca, Gerardo Gage, John Arroyo, Raúl Morales Reséndiz
  Latin American Journal of Central Banking
  December 2020

• Pattern recognition of financial institutions’ payment behavior
  Carlos Leóna, Paolo Barucca, Oscar Acero, Gerardo Gage, Fabio Ortega
  Latin American Journal of Central Banking
  November 2020

• Learning of Weighted Multi-layer Networks via Dynamic Social Spaces, with Application to Financial Interbank Transactions
  Chris Carmona, Serafín Martínez-Jaramillo.
  Proceedings of the International Conference on Complex Networks and Their Applications, 722-735.
  January 2020

• Interconnectedness and Financial Stability
  Serafín Martínez-Jaramillo, Carmona, Christian U., Kenett, Dror Y. 
  Journal of Risk Management in Financial Institutions, Volume 12, Number 2.
  Spring 2019

• Financial Decisions and Financial Capabilities in the Andean Region
  María José Roa, Ignacio Garrón, Jonathan Barboza
  The Journal of Consumer Affairs.
  April 2018

• The dynamics of sovereign debt crises and bailouts
  Francisco Roch y Harald Uhlig
  Journal of International Economics, Volume 114, Pages 1-13.
  September 2018

• Currency Mismatch in the Banking Sector in Latin America and the Caribbean
  Martin Tobal (Banco de México and CEMLA)
  International Journal of Central Banking (IJCB).
  January 2018

• Bank Capital Buffers Around the World: Cyclical Patterns and the Effect of Market Power
  Óscar Carvallo Valencia, Alberto Ortiz Bolaños (CEMLA and EGADE Business School)
  Journal of Financial Stability.
  October 2018