Staff Publications
CEMLA staff publications in specialized journals, including the LAJCB.
2024
Technological Change and Labor Markets: Productivity, Job Polarization, and Inequality - October 2024
Routine occupations and informality in Brazil
Gustavo Leyva
Emerging Markets Review – December 2024
Untangling the finance-growth nexus: The dual role of financial development in the transmission of shocks
Ricardo Montañez-Enríquez, Matias Ossandon Busch, Manuel Ramos-Francia
The Journal of Finance and Data Science – December 2024
Explicit formulae for the valuation of European options with price impacts
Gerardo Hernández-del-Valle, Julio César Rodríguez-Burgos, Héctor Jasso-Fuentes
Latin American Journal of Central Banking – December 2024
CEMLA’s survey on central bank digital currencies in Latin America and the Caribbean
Gerardo Hernández del Valle, Karla Chua Mejía, Bernardo Paniagua Zabal, Matias Alfredo Gutierrez Girault, Pablo Villalobos González
Review of World Economics - May 2024
Uncertainty and the uncovered interest parity condition: How are they related?
Nelson R. Ramírez-Rondán, Marco E. Terrones
Applied Economics Letters – April 2024
State-ownership and bank presence in deforesting regions: evidence from the Amazon
rainforest
Cristina Ortega, Matias Ossandon Busch
Journal of Money, Credit and Banking – February 2024
Global Banks and Synthetic Funding: The Benefits of Foreign Relatives
Fernando Eguren-Martin, Matias Ossandon Busch, Dennis Reinhardt
The B.E. Journal of Macroeconomics - January 2024
Does uncertainty matter for the fiscal consolidation and capital intensity nexus?
Ioannis Bournakis, Nelson R. Ramírez-Rondán
Stochastic Analysis and Applications - January 2024
On the heat equation with a moving boundary and applications to hitting times for Brownian
motion
Gerardo Hernández-del-Valle, Wincy A. Guerra-Polania
2023
Mathematical Social Sciences - November 2023
Restricted complementarity and paths to stability in matching with couples
Benjamín Tello
Studies in Nonlinear Dynamics & Econometrics – June 2023
Panel data models with two threshold variables
Arturo Lamadrid-Contreras, Nelson R. Ramírez-Rondán
Finance Research Letters – May 2023
Political institutions, economic uncertainty and sovereign credit ratings
Nelson R. Ramírez-Rondán, Renato M. Rojas-Rojas, Julio A. Villavicencio
Journal of Financial Intermediation – January 2023
The disciplining effect of supervisory scrutiny in the EU-wide stress test
Carola Müller, Christoffer Kok, Steven Ongena, Cosimo Pancaro
2022
Latin American Journal of Central Banking – September 2022
Central Bank Response to COVID-19
Manuel Ramos-Francia, Santiago García-Verdú
Latin American Journal of Central Banking – September 2022
Growth at risk: Methodology and applications in an open-source platform
Matias Ossandon Busch, José Manuel
Sánchez-Martínez, Anahí Rodríguez-Martínez,
Ricardo Montañez-Enríquez, Serafín Martínez-Jaramillo
Latin American Journal a Central Banking – June
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 – March 2022
Identifying
clusters of anomalous payments in the salvadorian payment system
Franklim Arévalo, Paolo Barucca, Isela-Elizabeth Téllez León, William Rodríguez, Gerardo Gage, Raúl Morales Reséndiz
Economics Bulletin - February 2022
Stability and Contractual Efficiency in Matching with Contracts and
Lexicographic Preferences
Benjamín Tello
2021
Research in Labor Economics - December 2021
Job Finding and Separation Rates in an Economy with High Labor Informality
Nikita Céspedes, Nelson R. Ramírez-Rondán
Journal of Corporate Finance – December
2021
Macroprudential policy and intra-group dynamics: The
effects of reserve requirements in Brazil
Chris Becker, Matias Ossandon Busch, Lena Tonzer
Journal of International Money and Finance – December
2021
Banks fearing the drought? Liquidity hoarding as a response
to Idiosyncratic Interbank funding dry-ups
Helge C.N. Littke, Matias Ossandon Busch
Journal of Financial Stability – October 2021
Banking globalization, local lending, and labor market effects: Micro-level evidence from
Brazil
Felix Noth, Matias Ossandon Busch
Latin American Journal of Central Banking – September 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
Journal of Financial Stability – 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 Market Infrastructures – July
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
Latin American Journal of Central Banking – June
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
Journal of Financial Stability - June 2021
Climate risk and financial stability in the network of
banks and investment
funds
Alan Roncoroni, Stefano
Battiston, Luis O. L.
Escobar-Farfán, Serafín Martínez-Jaramillo
Latin American Journal of Central Banking - 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
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
2020
Latin American Journal of Central Banking – December 2020
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 – November 2020
Pattern recognition of financial institutions’
payment
behavior
Carlos
León, Paolo Barucca, Oscar Acero, Gerardo Gage, Fabio Ortega
2019
Proceedings of the Eighth International Conference on Complex Networks and Their
Applications - November 2019
Learning of Weighted Multi-layer Networks via Dynamic Social Spaces, with
Application to
Financial Interbank Transactions
Chris
Carmona, Serafín Martínez-Jaramillo
Journal of Risk Management in Financial Institutions - April 2019
Interconnectedness and financial
stability
Serafín
Martínez-Jaramillo, Christian U. Carmona, Dror Y. Kenett
2018
Journal of Financial Stability – October 2018
Bank Capital Buffers Around the World: Cyclical Patterns
and the Effect of Market
Power
Óscar Carvallo Valencia, Alberto Ortiz
Bolaños
Journal of International Economics – September 2018
The dynamics of sovereign debt crises and bailouts
Francisco Roch,
Harald Uhlig
The Journal of Consumer Affairs – April 2018
Financial Decisions and Financial Capabilities in the
Andean Region
Jonathan Barboza, Ignacio Garrón, María
José
Roa
International Journal of Central Banking – January 2018
Currency
Mismatch in the
Banking Sector in Latin America and the
Caribbean
Martin Tobal