Welcome to my personal homepage!
I'm a senior economist in the Financial Stability Division at the Swiss National Bank. This site presents the research papers written during my current appointment and my doctoral studies in Economics at the University of Lausanne.
My research interests are in the broad field of financial economics and macroeconomics with a current focus on empirical banking and financial stability.
I'm a senior economist in the Financial Stability Division at the Swiss National Bank. This site presents the research papers written during my current appointment and my doctoral studies in Economics at the University of Lausanne.
My research interests are in the broad field of financial economics and macroeconomics with a current focus on empirical banking and financial stability.
New Publication:
"The Collateral Channel under Imperfect Debt Enforcement" (2019), with Matthieu Grobéty. European Economic Review, Vol.111 (January 2019), pp. 336-359.
This paper argues that imperfect enforceability of debt contracts amplifies the sensitivity of industry growth to collateral values. To obtain this finding, we introduce a novel industry-specific measure of real asset redeployability as a proxy for liquidation values of collateral. Using a cross-industry cross country approach, we find that industry growth is more sensitive to changes in collateral values in countries with weaker debt enforcement.
"The Collateral Channel under Imperfect Debt Enforcement" (2019), with Matthieu Grobéty. European Economic Review, Vol.111 (January 2019), pp. 336-359.
This paper argues that imperfect enforceability of debt contracts amplifies the sensitivity of industry growth to collateral values. To obtain this finding, we introduce a novel industry-specific measure of real asset redeployability as a proxy for liquidation values of collateral. Using a cross-industry cross country approach, we find that industry growth is more sensitive to changes in collateral values in countries with weaker debt enforcement.
Disclaimer: The views expressed on this site and in the research papers are those of the author(s) and do not necessarily represent those of the Swiss National Bank.