Details about Miguel Faria-e-Castro

Access statistics for papers by Miguel Faria-e-Castro.

Last updated 2025-04-24. Update your information in the RePEc Author Service.

Short-id: pfa225

Working Papers

2025

1. A Look at Inflation in Recent Years through the Lens of a Macroeconomic Model
   On the Economy, Federal Reserve Bank of St. Louis
2. A Quantitative Analysis of Bank Lending Relationships
   Working Papers, Federal Reserve Bank of St. Louis
   See also Journal Article A quantitative analysis of bank lending relationships, Journal of Financial Economics, Elsevier (2025) (2025)
3. Dissecting the Great Retirement Boom
   Working Papers, Federal Reserve Bank of St. Louis
4. The Cost of Capital and Misallocation in the United States
   Working Papers, Federal Reserve Bank of St. Louis
5. U.S. Retirement Normalization following the COVID-19 Pandemic
   On the Economy, Federal Reserve Bank of St. Louis

2024

6. An Empirical Analysis of the Cost of Borrowing
   Working Papers, Federal Reserve Bank of St. Louis
7. Artificial Intelligence and Inflation Forecasts
   Working Papers, Federal Reserve Bank of St. Louis View citations (1)
   See also Journal Article Artificial Intelligence and Inflation Forecasts, Review, Federal Reserve Bank of St. Louis (2024) (2024)
8. Commercial Real Estate Exposure and Bank Stock Returns
   On the Economy, Federal Reserve Bank of St. Louis
9. Credit and Liquidity Policies during Large Crises
   Working Papers, Federal Reserve Bank of St. Louis View citations (4)
10. Recent Trends in Banks’ Commercial Real Estate Exposure
    On the Economy, Federal Reserve Bank of St. Louis
11. The Nonlinear Effects of Fiscal Policy
    Working Papers, Federal Reserve Bank of St. Louis View citations (11)
    Also in 2019 Meeting Papers, Society for Economic Dynamics (2019) View citations (20)
12. The St. Louis Fed DSGE Model
    Working Papers, Federal Reserve Bank of St. Louis

2023

13. Evergreening
    Working Papers, Federal Reserve Bank of St. Louis
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2022)
    See also Journal Article Evergreening, Journal of Financial Economics, Elsevier (2024) (2024)
14. Excess Retirements Continue despite Ebbing COVID-19 Pandemic
    On the Economy, Federal Reserve Bank of St. Louis
15. Pandemic labor force participation and net worth fluctuations
    Working Papers, Federal Reserve Bank of St. Louis
    See also Journal Article Pandemic Labor Force Participation and Net Worth Fluctuations, Review, Federal Reserve Bank of St. Louis (2024) (2024)
16. Researching COVID-19’s Impact on the 'Great Retirement'
    On the Economy, Federal Reserve Bank of St. Louis
17. Retirements, Net Worth, and the Fall and Rise of Labor Force Participation
    On the Economy, Federal Reserve Bank of St. Louis
18. The Fed’s Remittances to the Treasury: Explaining the 'Deferred Asset'
    On the Economy, Federal Reserve Bank of St. Louis

2022

19. EBITDA Add-backs in Debt Contracting: A Step Too Far?
    Working Papers, Federal Reserve Bank of St. Louis
20. Fiscal Multipliers and Financial Crises
    Working Papers, Federal Reserve Bank of St. Louis View citations (11)
    Also in 2017 Meeting Papers, Society for Economic Dynamics (2017) View citations (15)
    See also Journal Article Fiscal Multipliers and Financial Crises, The Review of Economics and Statistics, MIT Press (2024) (2024)
21. How Changing Interest Rates Affect Variable-Rate Loans to U.S. Firms
    On the Economy, Federal Reserve Bank of St. Louis

2021

22. A quantitative analysis of the countercyclical capital buffer
    ESRB Working Paper Series, European Systemic Risk Board View citations (2)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2020) View citations (5)
23. Credit Spreads during the Financial Crisis and COVID-19
    On the Economy, Federal Reserve Bank of St. Louis
24. Domestic Debt Before and After the Pandemic Recession
    On the Economy, Federal Reserve Bank of St. Louis
25. Fiscal Policy during a Pandemic
    Working Papers, Federal Reserve Bank of St. Louis View citations (104)
    See also Journal Article Fiscal policy during a pandemic, Journal of Economic Dynamics and Control, Elsevier (2021) View citations (69) (2021)
26. Measuring Labor Supply and Demand Shocks during COVID-19
    Working Papers, Federal Reserve Bank of St. Louis View citations (68)
    See also Journal Article Measuring labor supply and demand shocks during COVID-19, European Economic Review, Elsevier (2021) View citations (44) (2021)
27. The Comovement between Credit Spreads, Corporate Debt and Liquid Assets in Recent Crises
    On the Economy, Federal Reserve Bank of St. Louis
28. The Evolution of Household Net Worth during COVID-19
    On the Economy, Federal Reserve Bank of St. Louis

2020

29. Back-of-the-Envelope Estimates of Next Quarter’s Unemployment Rate
    On the Economy, Federal Reserve Bank of St. Louis View citations (13)
30. Corporate Bond Spreads and the Pandemic
    On the Economy, Federal Reserve Bank of St. Louis View citations (1)
31. Corporate Bond Spreads and the Pandemic II: Heterogeneity across Sectors
    On the Economy, Federal Reserve Bank of St. Louis
32. Corporate Bond Spreads and the Pandemic III: Variance across Sectors and Firms
    On the Economy, Federal Reserve Bank of St. Louis
33. Corporate Bond Spreads and the Pandemic IV: Liquidity Buffers
    On the Economy, Federal Reserve Bank of St. Louis
34. The Effects of Extra Unemployment Benefits on Household Delinquencies
    On the Economy, Federal Reserve Bank of St. Louis

2017

35. The (Unintended?) Consequences of the Largest Liquidity Injection Ever
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (31)
    Also in ESRB Working Paper Series, European Systemic Risk Board (2016) View citations (41)
    Working Papers, Federal Reserve Bank of St. Louis (2017) View citations (40)
    2016 Meeting Papers, Society for Economic Dynamics (2016) View citations (43)
    See also Journal Article The (Unintended?) consequences of the largest liquidity injection ever, Journal of Monetary Economics, Elsevier (2020) View citations (49) (2020)

2016

36. Runs versus Lemons: Information Disclosure and Fiscal Capacity
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (20)
    Also in 2015 Meeting Papers, Society for Economic Dynamics (2015) View citations (4)
    NBER Working Papers, National Bureau of Economic Research, Inc (2015) View citations (12)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2015) View citations (4)
    See also Journal Article Runs versus Lemons: Information Disclosure and Fiscal Capacity, The Review of Economic Studies, Review of Economic Studies Ltd (2017) View citations (32) (2017)

2015

37. Central Bank Interventions, Demand for Collateral, and Sovereign Borrowing Costs
    Working Papers, Banco de Portugal, Economics and Research Department View citations (12)

2014

38. The Portuguese real exchange rate, 1995-2010: competitiveness or price effects?
    NIPE Working Papers, NIPE - Universidade do Minho

Journal Articles

2025

1. A quantitative analysis of bank lending relationships
   Journal of Financial Economics, 2025, 170, (C)
   See also Working Paper A Quantitative Analysis of Bank Lending Relationships, Working Papers (2025) (2025)

2024

2. Artificial Intelligence and Inflation Forecasts
   Review, 2024, 106, (12), 14 pages
   See also Working Paper Artificial Intelligence and Inflation Forecasts, Working Papers (2024) View citations (1) (2024)
3. Evergreening
   Journal of Financial Economics, 2024, 153, (C)
   See also Working Paper Evergreening, Working Papers (2023) (2023)
4. Fiscal Multipliers and Financial Crises
   The Review of Economics and Statistics, 2024, 106, (3), 728-747
   See also Working Paper Fiscal Multipliers and Financial Crises, Working Papers (2022) View citations (11) (2022)
5. Pandemic Labor Force Participation and Net Worth Fluctuations
   Review, 2024, 106, (1), 40-58
   See also Working Paper Pandemic labor force participation and net worth fluctuations, Working Papers (2023) (2023)

2023

6. Commercial Real Estate: Where Are the Financial Risks?
   Economic Synopses, 2023, (22), 2 pages
7. Do Banks Lend to Distressed Firms?
   FRBSF Economic Letter, 2023, 2023, (31), 5
8. “Stress Testing” Banks on Commercial Real Estate
   Economic Synopses, 2023, (26), 3 pages

2022

9. Asset Returns and Labor Force Participation During COVID-19
   Economic Synopses, 2022, 1-2 View citations (1)
10. Loan Evergreening: Recent Evidence from the U.S
    Economic Synopses, 2022, (26), 1-2 View citations (1)

2021

11. Fiscal policy during a pandemic
    Journal of Economic Dynamics and Control, 2021, 125, (C) View citations (69)
    See also Working Paper Fiscal Policy during a Pandemic, Working Papers (2021) View citations (104) (2021)
12. Measuring labor supply and demand shocks during COVID-19
    European Economic Review, 2021, 139, (C) View citations (44)
    See also Working Paper Measuring Labor Supply and Demand Shocks during COVID-19, Working Papers (2021) View citations (68) (2021)
13. Mortgage Forbearance and Economic Recovery from the Pandemic
    Economic Synopses, 2021, (19), 1-2
14. The COVID Retirement Boom
    Economic Synopses, 2021, (25), 1-2 View citations (1)

2020

15. Fiscal Policy and COVID-19: Insights from a Quantitative Model
    Economic Synopses, 2020, (8)
16. Is the COVID-19 Pandemic a Supply or a Demand Shock?
    Economic Synopses, 2020, (31) View citations (19)
17. The (Unintended?) consequences of the largest liquidity injection ever
    Journal of Monetary Economics, 2020, 112, (C), 97-112 View citations (49)
    See also Working Paper The (Unintended?) Consequences of the Largest Liquidity Injection Ever, Finance and Economics Discussion Series (2017) View citations (31) (2017)

2019

18. Can Countercyclical Capital Buffers Help Prevent a Financial Crisis?
    Economic Synopses, 2019, (15)

2018

19. Rising Interest Rates, the Deficit, and Public Debt
    Economic Synopses, 2018, (28), 1-2
20. Rising Rates Impact Borrowing Costs for the U.S. Government, Too
    The Regional Economist, 2018, 26, (3)
21. What Are the Fiscal Costs of a (Great) Recession?
    Economic Synopses, 2018, (22), 1-2

2017

22. Runs versus Lemons: Information Disclosure and Fiscal Capacity
    The Review of Economic Studies, 2017, 84, (4), 1683-1707 View citations (32)
    See also Working Paper Runs versus Lemons: Information Disclosure and Fiscal Capacity, CEPR Discussion Papers (2016) View citations (20) (2016)

2015

23. The Portuguese Banking System during the Sovereign Debt Crisis
    Economic Bulletin and Financial Stability Report Articles and Banco de Portugal Economic Studies, 2015

2011

24. Mapping a country's competitive position: a real exchange rate approach
    Studies in Economics and Finance, 2011, 28, (3), 233-244 View citations (1)