Details about Eugenio Martin Cerutti

Access statistics for papers by Eugenio Martin Cerutti.

Last updated 2025-04-19. Update your information in the RePEc Author Service.

Short-id: pce135

Working Papers

2025

1. Not all Housing Cycles are Created Equal: Macroeconomic Consequences of Housing Booms
   IMF Working Papers, International Monetary Fund
2. The Global Impact of AI: Mind the Gap
   IMF Working Papers, International Monetary Fund

2024

3. A Primer on Bitcoin Cross-Border Flows: Measurement and Drivers
   IMF Working Papers, International Monetary Fund
4. Chinese Banks and Their EMDE Borrowers: Have Their Relationships Changed in Times of Geoeconomic Fragmentation?
   IMF Working Papers, International Monetary Fund
   Also in BIS Working Papers, Bank for International Settlements (2024)
5. The Global Financial Cycle: Quantities versus Prices
   IMF Working Papers, International Monetary Fund
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2024)

2023

6. Financial Crises and the Composition of Cross-Border Lending
   Santa Cruz Department of Economics, Working Paper Series, Department of Economics, UC Santa Cruz
   Also in IMF Working Papers, International Monetary Fund (2014) View citations (10)
   Working Paper Series, Federal Reserve Bank of San Francisco (2014) View citations (4)
   See also Journal Article Financial crises and the composition of cross-border lending, Journal of International Money and Finance, Elsevier (2015) View citations (63) (2015)
7. Uncovering CIP Deviations in Emerging Markets: Distinctions, Determinants and Disconnect
   IMF Working Papers, International Monetary Fund View citations (1)
   See also Journal Article Uncovering CIP Deviations in Emerging Markets: Distinctions, Determinants, and Disconnect, IMF Economic Review, Palgrave Macmillan (2024) View citations (1) (2024)

2021

8. Climate Change in South Asia: Further Need for Mitigation and Adaptation
   IMF Working Papers, International Monetary Fund View citations (4)
9. The Agricultural Exodus in the Philippines: Are Wage Differentials Driving the Process?
   IMF Working Papers, International Monetary Fund View citations (1)

2020

10. Banking Across Borders: Are Chinese Banks Different?
    IMF Working Papers, International Monetary Fund View citations (8)
    Also in BIS Working Papers, Bank for International Settlements (2020) View citations (8)
    See also Journal Article Banking across borders: Are Chinese banks different?, Journal of Banking & Finance, Elsevier (2023) View citations (4) (2023)
11. Why Did Public Banks Lend More During the Global Financial Crisis?
    IMF Working Papers, International Monetary Fund View citations (9)

2019

12. Covered Interest Parity Deviations: Macrofinancial Determinants
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (12)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2019) View citations (15)
    IMF Working Papers, International Monetary Fund (2019) View citations (12)
    See also Journal Article Covered interest parity deviations: Macrofinancial determinants, Journal of International Economics, Elsevier (2021) View citations (10) (2021)
    Chapter Covered Interest Parity Deviations: Macrofinancial Determinants, NBER Chapters, National Bureau of Economic Research, Inc (2020) View citations (3) (2020)
13. Managed Trade: What Could be Possible Spillover Effects of a Potential Trade Agreement Between the U.S. and China?
    IMF Working Papers, International Monetary Fund View citations (3)
14. US vs. Euro Area: Who Drives Cross-Border Bank Lending to EMs?
    IMF Working Papers, International Monetary Fund View citations (1)
    See also Journal Article US vs. euro area: Who drives cross-border bank lending to EMs?, Journal of the Japanese and International Economies, Elsevier (2020) View citations (1) (2020)
    Chapter US vs. Euro Area: Who Drives Cross-Border Bank Lending to EMs?, NBER Chapters, National Bureau of Economic Research, Inc (2019) View citations (1) (2019)

2018

15. China's Bond Market and Global Financial Markets
    IMF Working Papers, International Monetary Fund View citations (1)
16. Cross-border Banking and the Circumvention of Macroprudential and Capital Control Measures
    IMF Working Papers, International Monetary Fund View citations (25)
17. Portfolio Inflows Eclipsing Banking Inflows: Alternative Facts?
    IMF Working Papers, International Monetary Fund View citations (19)
18. The Global Banking Network: What is Behind the Increasing Regionalization Trend?
    IMF Working Papers, International Monetary Fund View citations (7)

2017

19. How Important is the Global Financial Cycle? Evidence from Capital Flows
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (87)
    Also in IMF Working Papers, International Monetary Fund (2017) View citations (90)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2017) View citations (87)
    BIS Working Papers, Bank for International Settlements (2017) View citations (91)
    See also Journal Article How Important is the Global Financial Cycle? Evidence from Capital Flows, IMF Economic Review, Palgrave Macmillan (2019) View citations (98) (2019)
20. Push Factors and Capital Flows to Emerging Markets: Why Knowing Your Lender Matters More Than Fundamentals
    ADB Economics Working Paper Series, Asian Development Bank View citations (4)
    Also in IMF Working Papers, International Monetary Fund (2015) View citations (107)
    See also Journal Article Push factors and capital flows to emerging markets: why knowing your lender matters more than fundamentals, Journal of International Economics, Elsevier (2019) View citations (103) (2019)
21. The Global Banking Network in the Aftermath of the Crisis: Is There Evidence of De-globalization?
    IMF Working Papers, International Monetary Fund View citations (35)
22. The Slowdown in Global Trade: A Symptom of A Weak Recovery
    IMF Working Papers, International Monetary Fund View citations (9)
    See also Journal Article The Slowdown in Global Trade: A Symptom of a Weak Recovery?, IMF Economic Review, Palgrave Macmillan (2018) View citations (16) (2018)

2016

23. Changes in Prudential Policy Instruments ---- A New Cross-Country Database
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) View citations (95)
    Also in IMF Working Papers, International Monetary Fund (2016) View citations (57)
    See also Journal Article Changes in Prudential Policy Instruments - A New Cross-Country Database, International Journal of Central Banking, International Journal of Central Banking (2017) View citations (144) (2017)
24. Foreign Bank Subsidiaries’ Default Risk during the Global Crisis: What Factors Help Insulate Affiliates from their Parents?
    IMF Working Papers, International Monetary Fund View citations (5)
    Also in Policy Research Working Paper Series, The World Bank (2014) View citations (6)
    See also Journal Article Foreign bank subsidiaries' default risk during the global crisis: What factors help insulate affiliates from their parents?, Journal of Financial Intermediation, Elsevier (2017) View citations (27) (2017)

2015

25. Are Foreign Banks a 'Safe Haven'? Evidence from Past Banking Crises
    IMF Working Papers, International Monetary Fund View citations (1)
26. Housing Finance and Real-Estate Booms: A Cross-Country Perspective
    IMF Staff Discussion Notes, International Monetary Fund View citations (37)
    See also Journal Article Housing finance and real-estate booms: A cross-country perspective, Journal of Housing Economics, Elsevier (2017) View citations (88) (2017)
27. Inflation and Activity - Two Explorations and Their Monetary Policy Implications
    Working Paper Series, Harvard University, John F. Kennedy School of Government View citations (442)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2015) View citations (270)
    IMF Working Papers, International Monetary Fund (2015) View citations (382)
    Working Paper Series, Peterson Institute for International Economics (2015) View citations (362)
28. The Use and Effectiveness of Macroprudential Policies: New Evidence
    IMF Working Papers, International Monetary Fund View citations (199)
    See also Journal Article The use and effectiveness of macroprudential policies: New evidence, Journal of Financial Stability, Elsevier (2017) View citations (620) (2017)

2014

29. Global Liquidity and Drivers of Cross-Border Bank Flows
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (89)
    Also in IMF Working Papers, International Monetary Fund (2014) View citations (72)
30. The Great Cross-Border Bank Deleveraging: Supply Constraints and Intra-Group Frictions
    IMF Working Papers, International Monetary Fund View citations (26)
    See also Journal Article The Great Cross-Border Bank Deleveraging: Supply Constraints and Intra-Group Frictions, Review of Finance, European Finance Association (2017) View citations (38) (2017)

2013

31. Banks’ Foreign Credit Exposures and Borrowers’ Rollover Risks Measurement, Evolution and Determinants
    IMF Working Papers, International Monetary Fund View citations (19)

2012

32. Systemic Risks in Global Banking: What Available Data can tell us and What More Data are Needed?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (75)
    Also in IMF Working Papers, International Monetary Fund (2011) View citations (28)
    See also Chapter Systemic Risks in Global Banking: What Available Data Can Tell Us and What More Data Are Needed?, NBER Chapters, National Bureau of Economic Research, Inc (2012) View citations (68) (2012)
33. Systemic risk in global banking: what can available data tell us and what more data are needed?
    BIS Working Papers, Bank for International Settlements View citations (68)
34. The Need for "Un-consolidating" Consolidated Banks' Stress Tests
    IMF Working Papers, International Monetary Fund View citations (2)

2010

35. Bankers Without Borders? Implications of Ring-Fencing for European Cross-Border Banks
    IMF Working Papers, International Monetary Fund View citations (36)

2008

36. Bolivia: The Hydrocarbons Boom and the Risk of Dutch Disease
    IMF Working Papers, International Monetary Fund View citations (10)

2007

37. IMF Drawing Programs: Participation Determinants and Forecasting
    IMF Working Papers, International Monetary Fund View citations (9)

2005

38. How banks go abroad: branches or subsidiaries ?
    Policy Research Working Paper Series, The World Bank View citations (22)
    See also Journal Article How banks go abroad: Branches or subsidiaries?, Journal of Banking & Finance, Elsevier (2007) View citations (154) (2007)

Journal Articles

2024

1. Uncovering CIP Deviations in Emerging Markets: Distinctions, Determinants, and Disconnect
   IMF Economic Review, 2024, 72, (1), 196-252 View citations (1)
   See also Working Paper Uncovering CIP Deviations in Emerging Markets: Distinctions, Determinants and Disconnect, IMF Working Papers (2023) View citations (1) (2023)

2023

2. Banking across borders: Are Chinese banks different?
   Journal of Banking & Finance, 2023, 154, (C) View citations (4)
   See also Working Paper Banking Across Borders: Are Chinese Banks Different?, IMF Working Papers (2020) View citations (8) (2020)

2021

3. Covered interest parity deviations: Macrofinancial determinants
   Journal of International Economics, 2021, 130, (C) View citations (10)
   See also Chapter Covered Interest Parity Deviations: Macrofinancial Determinants, NBER Chapters, 2020 (2020) View citations (3) (2020)
   Working Paper Covered Interest Parity Deviations: Macrofinancial Determinants, NBER Working Papers (2019) View citations (12) (2019)
4. Substitution patterns in capital inflows: Evidence from disaggregated capital flow data
   Journal of International Money and Finance, 2021, 112, (C) View citations (3)

2020

5. US vs. euro area: Who drives cross-border bank lending to EMs?
   Journal of the Japanese and International Economies, 2020, 57, (C) View citations (1)
   See also Working Paper US vs. Euro Area: Who Drives Cross-Border Bank Lending to EMs?, IMF Working Papers (2019) View citations (1) (2019)
   Chapter US vs. Euro Area: Who Drives Cross-Border Bank Lending to EMs?, NBER Chapters, 2019 (2019) View citations (1) (2019)

2019

6. How Important is the Global Financial Cycle? Evidence from Capital Flows
   IMF Economic Review, 2019, 67, (1), 24-60 View citations (98)
   See also Working Paper How Important is the Global Financial Cycle? Evidence from Capital Flows, NBER Working Papers (2017) View citations (87) (2017)
7. Push factors and capital flows to emerging markets: why knowing your lender matters more than fundamentals
   Journal of International Economics, 2019, 119, (C), 133-149 View citations (103)
   See also Working Paper Push Factors and Capital Flows to Emerging Markets: Why Knowing Your Lender Matters More Than Fundamentals, ADB Economics Working Paper Series (2017) View citations (4) (2017)

2018

8. The Slowdown in Global Trade: A Symptom of a Weak Recovery?
   IMF Economic Review, 2018, 66, (3), 440-479 View citations (16)
   See also Working Paper The Slowdown in Global Trade: A Symptom of A Weak Recovery, IMF Working Papers (2017) View citations (9) (2017)
9. The growing footprint of EME banks in the international banking system
   BIS Quarterly Review, 2018 View citations (12)

2017

10. Changes in Prudential Policy Instruments - A New Cross-Country Database
    International Journal of Central Banking, 2017, 13, (2), 477-503 View citations (144)
    See also Working Paper Changes in Prudential Policy Instruments ---- A New Cross-Country Database, International Finance Discussion Papers (2016) View citations (95) (2016)
11. Foreign bank subsidiaries' default risk during the global crisis: What factors help insulate affiliates from their parents?
    Journal of Financial Intermediation, 2017, 29, (C), 19-31 View citations (27)
    See also Working Paper Foreign Bank Subsidiaries’ Default Risk during the Global Crisis: What Factors Help Insulate Affiliates from their Parents?, IMF Working Papers (2016) View citations (5) (2016)
12. Global liquidity and cross-border bank flows
    Economic Policy, 2017, 32, (89), 81-125 View citations (86)
13. Housing finance and real-estate booms: A cross-country perspective
    Journal of Housing Economics, 2017, 38, (C), 1-13 View citations (88)
    See also Working Paper Housing Finance and Real-Estate Booms: A Cross-Country Perspective, IMF Staff Discussion Notes (2015) View citations (37) (2015)
14. The Great Cross-Border Bank Deleveraging: Supply Constraints and Intra-Group Frictions
    Review of Finance, 2017, 21, (1), 201-236 View citations (38)
    See also Working Paper The Great Cross-Border Bank Deleveraging: Supply Constraints and Intra-Group Frictions, IMF Working Papers (2014) View citations (26) (2014)
15. The use and effectiveness of macroprudential policies: New evidence
    Journal of Financial Stability, 2017, 28, (C), 203-224 View citations (620)
    See also Working Paper The Use and Effectiveness of Macroprudential Policies: New Evidence, IMF Working Papers (2015) View citations (199) (2015)

2015

16. Drivers of cross-border banking exposures during the crisis
    Journal of Banking & Finance, 2015, 55, (C), 340-357 View citations (42)
17. Financial crises and the composition of cross-border lending
    Journal of International Money and Finance, 2015, 52, (C), 60-81 View citations (63)
    See also Working Paper Financial Crises and the Composition of Cross-Border Lending, Santa Cruz Department of Economics, Working Paper Series (2023) (2023)

2014

18. Ring fencing and consolidated banks’ stress tests
    Journal of Financial Stability, 2014, 11, (C), 1-12 View citations (12)

2007

19. How banks go abroad: Branches or subsidiaries?
    Journal of Banking & Finance, 2007, 31, (6), 1669-1692 View citations (154)
    See also Working Paper How banks go abroad: branches or subsidiaries ?, Policy Research Working Paper Series (2005) View citations (22) (2005)

Books

2017

1. New Challenges in Central Banking:Monetary Policy Governance and Macroprudential Issues
   SUERF Studies, SUERF - The European Money and Finance Forum

2010

2. Contagion and Spillovers: New Insights from the Crisis
   SUERF Studies, SUERF - The European Money and Finance Forum View citations (6)

Chapters

2020

1. Covered Interest Parity Deviations: Macrofinancial Determinants
   A chapter in NBER International Seminar on Macroeconomics 2020, 2020 View citations (3)
   See also Journal Article Covered interest parity deviations: Macrofinancial determinants, Elsevier (2021) View citations (10) (2021)
   Working Paper Covered Interest Parity Deviations: Macrofinancial Determinants, National Bureau of Economic Research, Inc (2019) View citations (12) (2019)

2019

2. US vs. Euro Area: Who Drives Cross-Border Bank Lending to EMs?
   A chapter in Financial System, 28th NBER-TCER-CEPR Conference, 2019 View citations (1)
   See also Working Paper US vs. Euro Area: Who Drives Cross-Border Bank Lending to EMs?, International Monetary Fund (2019) View citations (1) (2019)
   Journal Article US vs. euro area: Who drives cross-border bank lending to EMs?, Elsevier (2020) View citations (1) (2020)

2016

3. The Transmission of Bank Default Risk During the Global Financial Crisis
   Chapter 16 in The Future of Large, Internationally Active Banks, 2016, pp 237-258
4. The use and effectiveness of macroprudential policies
   A chapter in Macroprudential policy, 2016, vol. 86, pp 95-102 View citations (54)

2012

5. Systemic Risks in Global Banking: What Available Data Can Tell Us and What More Data Are Needed?
   A chapter in Risk Topography: Systemic Risk and Macro Modeling, 2012, pp 235-260 View citations (68)
   See also Working Paper Systemic Risks in Global Banking: What Available Data can tell us and What More Data are Needed?, National Bureau of Economic Research, Inc (2012) View citations (75) (2012)