Published Papers

• "The Elusive Cost of Sovereign Default," 2006, (with Ugo Panizza), Journal of Development Economics.
• “On the Endogeneity of Exchange Rate Regimes,” 2005, (with Federico Sturzenegger and Iliana Reggio), forthcoming, European Economic Review.
• “Deposit Behaviour under Macroeconomic Risk: Evidence from Bank Runs in Emerging Economies,” (con María Soledad Martínez Pería y Sergio Schmukler), Journal of Money, Credit and Banking.
• “International Financial Integration through the Lens of the Law of One Price”, (with Sergio Schmukler and Neeltje van Horen), Journal of Financial Intermediation., vol 18 (3), pp. 432-463.
• “Optimal Debt? On the Insurance Value of International Debt Flows to Developing Countries,”Open Economies Review, vol 20 (4), pp. 489-507.
• “Global Factors and Emerging Market Spreads”, (with Martín González Rozada), Economic Journal, vol. 118(533), pages 1917-1936.
• “Emerging Market Liquidity and Crises”, (with Neeltje van Horen and Sergio Schmukler), Journal of the European Economic Association, 2008, vol. 6 (2-3), pp. 668-682.
• “The Cost of Reserves”, Economic Letters, 2008, vol. 100 (1), pp. 39-42.
• “Concentration and Foreign Penetration in Latin American Banking Sectors: Impact on Competition and Risk",(with Alejandro Micco), Journal of Banking and Finance, vol. 31(6), pp. 1633-164.
• “The Public Banks Debate: A Reappraisal", (with Alejandro Micco y Ugo Panizza), forthcoming, Economia. A previous version of this paper, circulated under the title "Should the Government be in the Banking Business? The Role of State-Owned and Development Banks", was presented at the seminar on Governments and Banks: Responsibilities and Limits, IDB-IIC Annual Meetings, Lima, Peru, March 28, 2004. An abridged Spanish version is reproduced in Perspectivas, vol. 2 (2), pp. 131-167.
• “Dollars, Debts, and the IFIs: Dedollarizing Multilateral Lending”, World Bank Economic Review, 21, pp. 21-47.
• "A (New) Country Insurance Facility", 2005, (with Tito Cordella), International Finance, Vol 9 (1).
• "Financial Dollarization: Evaluating the Consequences", Economic Policy, January 2006.
  Dataset: Deposit dollarization and dollarization restrictions. 2010 update.
• "Country Insurance", (with Tito Cordella), IMF Staff Papers, 52, pp. 85-106, 2005.
• "Endogeous Deposit Dollarization", 2006, (with Christian Broda), Journal of Money, Credit and Banking, Vol. 38 (4), pp. 963-988.
• "The Cyclical Nature of North-South FDI Flows", 2007, (with Ugo Panizza and Ernesto Stein), Journal of International Money and Finance, vol. 26(1), pp. 104-130.
• "Exchange Rates as Shock Absorbers", (with Sebastian Edwards), European Economic Review, 49 (8), pp. 2079-2105, 2005.
• "Classifying Exchange Rate Regimes: Deeds vs. Words", February 2002, (with Federico Sturzenegger), European Economic Review, Volume 49, Issue 6, August 2005, pp. 1603-1635.
  Dataset: Levy Yeyati-Sturzenegger (LYS) de facto classification of exchange rate regimes (updated, December 2005).
• "The Price of Inconvertible Deposits: The Stock Market Boom during the Argentine Crisis", (with Sergio Schmukler and Neeltje van Horen), Economic Letters, 83 (1), pp. 7-14, 2004.
• “Financial Dollarization and Debt Deflation under a Currency Board,” (with Sebastián Galiani and Ernesto Schargrodsky), Emerging Markets Review, 4, pp. 340-367, 2003.
• "Bank Bailouts: Moral Hazard vs. Value Effect", (with Tito Cordella), Journal of Financial Intermediation, 12(4), pp. 300-330, 2003.
• "To Float or to Fix: Evidence on the Impact of Exchange Rate Regimes on Growth", (with Federico Sturzenegger), American Economic Review, Vol. 93 (4), pp. 1173-1193, 2003.
• "A de facto Classification of Exchange Rate Regimes: A Methodological Note", (with Federico Sturzenegger), American Economic Review web edition.
• "Financial Dollarization", (with Alain Ize), Journal of International Economics, 59, pp. 323-347, 2003.
• “Living and Dying with Hard Pegs: The Rise and Fall of Argentina’s Currency Board,”(with Augusto de la Torre y Sergio Schmukler), Economía, 2003, vol. 5 (2), pp. 43-99.
• “On the Impact of a Common Currency on Bilateral Trade,” Economic Letters, 2003, 79 (1), pp. 125-129.
• “Financial Globalization: Unequal Blessings,” (with Augusto de la Torre and Sergio Schmukler), International Finance, 2002, 5 (3).
• “Financial Opening, Deposit Insurance and Risk in a Model of Banking Competition,”(with Tito Cordella), European Economic Review, 2002, 46, pp. 471-485.
• “10 Años de Convertibilidad: La Experiencia Argentina,” Revista de Análisis Económico, 2001, 16 (2), pp. 3-42.
• “Exchange Rate and Economic Performance,” (with Federico Sturzenegger), IMF Staff Papers, 2001, 47, pp. 62-98.
• “Is EMU a Blueprint for Mercosur?,” (with Federico Sturzenegger), Cuadernos de Economía, 2000, 110, pp. 63-99.
• "Implications of the Euro for Latin America’s Financial and Banking Sectors,” (with Federico Sturzenegger), Emerging Markets Review, 2000, 1, pp. 53-81.
• “Crises, Contagion and the Closed-End Country Fund Puzzle,” (with Angel Ubide-Querol), IMF Staff Papers, 2000, 41 (1), pp. 54-89.
• “Public Disclosure and Bank Failures,” (with Tito Cordella), IMF Staff Papers, 1999, 45, No. 1, pp. 110-131.
• “Convergence and Political Cycles,” Económica, 1998, XLIV, No. 1-2, pp. 103-125.