Matias Moretti

Recently accepted by #QJE: “Monetary Policy and Sovereign Risk in Emerging Economies,” by Arellano, Bai, and Mihalache: doi.org/10.1093/qje/qj…

🎓 Call for Applications | JIE Summer School 2026 📍 Milan (Bocconi University) | 🗓 July 6–8, 2026 Lectures by Cécile Gaubert, Christoph Trebesch, David Hémous, Federica Romei, Christopher Clayton & Natalia Ramondo. 🗓 Deadline: Jan 25, 2026 👉 sciencedirect.com/journal/journa…

New at JIE: "Real exchange rate and net trade dynamics: Financial and trade shocks" by Marcos Mac Mullen (@MarcosMacMullen), Soo Kyung Woo (@SKWooEcon) doi.org/10.1016/j.jint…

@jmmorelli_88 Congrats, Juan!

Bittersweet news: I’m moving to FRBNY after 5 yrs at the BOG. The BOG is an excellent public policy job that fosters & nurtures policy and research skills. Importantly, it takes very seriously its mission of public service. I’m now very excited for what comes next at the FRBNY!

Those JGBs issued by the Japanese government with super-low yields over the past decade were snapped up by one huge price-insensitive investor, the BoJ. The Japanese government was selling JGBs to the BoJ, not to private investors. It matters. Now that the BoJ wants to step back, long term yields are shooting up. The BoJ is sitting on one GDP of JGBs. Sizable mark-to-market losses for BoJ. Below, figure of BoJ purchases of JGBs in red. Banks in green. Net issuance is black line. papers.ssrn.com/sol3/papers.cf…

Thank you so much @WorldBank @IFC_org for the launch of this great book and fantastic panel. How to finance firm growth is one of the key issues of our time especially for countries who need it most and suffer from high policy risk, here is the video: ifc.org/en/events/2025…

Happy New Year! If you are attending #ASSA2025 and interested in sovereign debt/bank/trade, please check out our session!

Tom Sargent, Universidad di Tella honoris causa. @EconomiaDiTella

📢As in previous years, I have put together the list of JMCs in International Finance (inspired by @TradeDiversion's list in International Trade). Check out the candidates here, and let me know if any are missing: chenzi-xu.com/misc.php #JMCs #EconTwitter

@Ishan_Nath @Kennedy_School @sffed Congrats, Ishan!!

some personal news: I have a pre-doc job to advertise, but for it to make sense I need to first share that in 2025-26 I will start a new job as an assistant professor at Harvard @Kennedy_School. I will dearly miss my friends @sffed, but am excited for new adventures in Boston!

🔊 We are excited to announce the plenary speakers for our first Winter meeting in Buenos Aires 🥁: - @cristinarellano (Minneapolis Fed) - Tom Sargent (NYU) - Ricardo Lagos (NYU) Deadline for submissions approaching! Submit your papers by September 3rd editorialexpress.com/conference/SED…

Great economics, great city, warm and inviting people... you have a little less than two weeks to send your paper in! Some of my other favorite things in Buenos Aires: dulce de leche, asado, helado, and el mejor equipo de football en el mundo @Argentina

We are pleased to announce that Laura Castillo-Martinez (@lcastillomart-@DukeEcon), Matias Moretti (@MatiasMoretti1-@UofR), Aleksei Oskolkov (@aioskolkov -@PrincetonEcon) and Federica Romei (@Federomei1 -@OxfordEconDept) will serve as Associate Editors effective July 1, 2024.

Back from an interesting and enriching conference with lots of great papers, discussants, and interactions with policy makers in Lima. Thank you @nberpubs @bcrpoficial @_FLAR for hosting this! nber.org/conferences/em… @paures12 @TimTkehoe

New WP 🚨: With growing evidence of inelastic demand for different financial assets we ask what happens when this downward-sloping demand meets an optimal/endogenous supply of the asset for risky bonds? Insights and Implications in the 🧵 below! Link: shorturl.at/zAR48

Happening this Friday (3/29) !! The @nberpubs Spring IFM meeting. The program is here: nber.org/conferences/in… Please tune in on YouTube youtube.com/nbervideos

Next week is ASSA meetings time and together with @sschmukler we put together a session on International Capital Flows, Sovereign Debt, and Financial Risks. Session is Friday 5 at 8am CST. So proud of it, all great papers, with amazing researchers both presenting and discussing!

@cristinarellano and I wrote a paper, a long time ago, about one possible benefit of dollarizing. The idea is that, once dollarized, a country cannot use monetary policy, via seigniorage, to respond to fluctuations in spending needs. Thus, preserving access to international borrowing becomes more valuable for a dollarized economy, and more borrowing can be supported in equilibrium. So, if Argentina does dollarize, it might improve its access to international credit. Paper is here. jonathanheathcote.com/arellano_heath…

webinar "ARGENTINA at the Crossroads: Perils of DOLLARIZATION" with @IvanWerning 📅TOMORROW/Tuesday 12:30 pm (ET), 14:30 (Argentine time), 18:30 (European Time) ✍️ register tinyurl.com/89fb8jvh 👇

We take the model to the data and show that reputation can account for a large share of spreads, particularly during bad times. We find that Argentina's loss of reputation accounts for 30%-50% of the increase in its sovereign spreads during the Great Financial Crisis.

We find that the market priced the misreport, as reflected in a significant increase in the spreads of Argentina's nominal bonds (whose coupons were not directly affected by the misreport). Reputation does matter!

Excited to see our paper with @jmmorelli_88 published at @JPolEcon! How is a government’s reputation shaped by the policies it chooses? What happens if a government does not play by the rules? How do markets price reputation?