Selected Publications

Economic and Regulatory Capital in Banking: What is the Difference? (with Abel Elizalde)
International Journal of Central Banking 3 (2007), pp. 87-117.

Liquidity, Risk-Taking, and the Lender of Last Resort
International Journal of Central Banking 1 (2005), pp. 47-80.

Loan Pricing under Basel Capital Requirements (with Javier Suarez)
Journal of Financial Intermediation 13 (2004), pp. 496-521.

Venture Capital Finance: A Security Design Approach (with Javier Suarez)
Review of Finance 8 (2004), pp. 75-108.

Shareholder Activism is Non-Monotonic in Market Liquidity (with Antonio S. Mello)
Finance Research Letters 1 (2004), pp. 2-10.

Capital Requirements, Market Power, and Risk-Taking in Banking
Journal of Financial Intermediation 13 (2004), pp. 156-182.

A Model of the Open Market Operations of the European Central Bank (with Juan Ayuso)
Economic Journal 113 (2003), pp. 883-902.

Why Did the Banks Overbid? An Empirical Model of the Fixed Rate Tenders of the European Central Bank (with Juan Ayuso)
Journal of International Money and Finance 20 (2001), pp. 857-870.

A Model of Takeovers of Foreign Banks
Spanish Economic Review 3 (2001), pp. 1-21.

Entrepreneurial Moral Hazard and Bank Monitoring: A Model of the Credit Channel (with Javier Suarez), European Economic Review 44 (2000), pp. 1931-1950.

Who Should Act as Lender of Last Resort? An Incomplete Contracts Model
Journal of Money, Credit and Banking 32 (2000), pp. 580-605.

Some Remarks on Leland's Model of Insider Trading
Economica 66 (1999), pp. 359-374.

Monitoring, Liquidation, and Security Design (with Javier Suarez)
Review of Financial Studies 11 (1998), pp. 163-187