Details about Liliana Varela

Access statistics for papers by Liliana Varela.

Last updated 2026-10-14. Update your information in the RePEc Author Service.

Short-id: pva701

Working Papers

2026

1. Heterogeneous Cross-Border Financial Allocations
   CEPR Discussion Papers, Centre for Economic Policy Research
2. Multinationals and Structural Transformation
   Working Papers, Federal Reserve Bank of Dallas
   Also in IDB Publications (Working Papers), Inter-American Development Bank (2023)
   NBER Working Papers, National Bureau of Economic Research, Inc (2022) View citations (1)
   Discussion papers, Research Institute of Economy, Trade and Industry (RIETI) (2021) View citations (1)
3. Sticking to Their Guns: Short-Horizon Exchange Rate Expectations
   CEPR Discussion Papers, Centre for Economic Policy Research
4. The micro and macro dynamics of capital flows
   LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library
   Also in CEPR Discussion Papers, Centre for Economic Policy Research (2020) View citations (10)
   Discussion Papers, Centre for Macroeconomics (CFM) (2021)
   NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (10)

2025

5. Long-horizon exchange rate expectations
   LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library View citations (2)
   Also in CEPR Discussion Papers, Centre for Economic Policy Research (2023)
   See also Journal Article Long‐Horizon Exchange Rate Expectations, Journal of Finance, American Finance Association (2025) View citations (2) (2025)

2023

6. Granular Corporate Hedging Under Dominant Currency
   Discussion Papers, Centre for Macroeconomics (CFM) View citations (9)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2021) View citations (9)

2022

7. Exchange rate exposure and firm dynamics
   LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library View citations (21)
   Also in LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2020)
   2018 Meeting Papers, Society for Economic Dynamics (2018) View citations (17)
   CAGE Online Working Paper Series, Competitive Advantage in the Global Economy (CAGE) (2018) View citations (17)
   The Warwick Economics Research Paper Series (TWERPS), University of Warwick, Department of Economics (2018) View citations (21)
   CEPR Discussion Papers, Centre for Economic Policy Research (2018) View citations (17)
   See also Journal Article Exchange Rate Exposure and Firm Dynamics, The Review of Economic Studies, Review of Economic Studies Ltd (2022) View citations (30) (2022)

2021

8. Financial Hedging Beyond Dominant Currency
   CEPR Discussion Papers, Centre for Economic Policy Research
9. Five Facts about the UIP Premium
   CEPR Discussion Papers, Centre for Economic Policy Research View citations (3)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2021) View citations (32)
   See also Chapter Five Facts about the UIP Premium, NBER Chapters, National Bureau of Economic Research, Inc (2026) (2026)

2019

10. Exchange Rate and Interest Rate Disconnect: The Role of Capital Flows, Currency Risk and Default Risk
    2019 Meeting Papers, Society for Economic Dynamics View citations (9)
11. Income and Substitution Effects of International Financial Integration: A Firm-Level Analysis
    2019 Meeting Papers, Society for Economic Dynamics
12. Innovation and the Patterns of Trade: A Firm-Level Analysis
    CAGE Online Working Paper Series, Competitive Advantage in the Global Economy (CAGE)
    Also in 2018 Meeting Papers, Society for Economic Dynamics (2018) View citations (1)

2018

13. Reallocation, competition, and productivity: evidence from a financial liberalization episode
    LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library View citations (47)
    Also in 2015 Meeting Papers, Society for Economic Dynamics (2015) View citations (9)
    See also Journal Article Reallocation, Competition, and Productivity: Evidence from a Financial Liberalization Episode, The Review of Economic Studies, Review of Economic Studies Ltd (2018) View citations (63) (2018)

2017

14. Sector heterogeneity and credit market imperfections in emerging markets
    LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library View citations (3)
    See also Journal Article Sector heterogeneity and credit market imperfections in emerging markets, Journal of International Money and Finance, Elsevier (2017) View citations (6) (2017)

2016

15. Foreign Currency Debt, Investment and Exit Choices in the Cross Section of Firms
    2016 Meeting Papers, Society for Economic Dynamics

Journal Articles

2025

1. Long‐Horizon Exchange Rate Expectations
   Journal of Finance, 2025, 80, (6), 3695-3724 View citations (2)
   See also Working Paper Long-horizon exchange rate expectations, LSE Research Online Documents on Economics (2025) View citations (2) (2025)

2022

2. Exchange Rate Exposure and Firm Dynamics
   The Review of Economic Studies, 2022, 89, (1), 481-514 View citations (30)
   See also Working Paper Exchange rate exposure and firm dynamics, LSE Research Online Documents on Economics (2022) View citations (21) (2022)

2018

3. Reallocation, Competition, and Productivity: Evidence from a Financial Liberalization Episode
   The Review of Economic Studies, 2018, 85, (2), 1279-1313 View citations (63)
   See also Working Paper Reallocation, competition, and productivity: evidence from a financial liberalization episode, LSE Research Online Documents on Economics (2018) View citations (47) (2018)

2017

4. Sector heterogeneity and credit market imperfections in emerging markets
   Journal of International Money and Finance, 2017, 70, (C), 433-451 View citations (6)
   See also Working Paper Sector heterogeneity and credit market imperfections in emerging markets, LSE Research Online Documents on Economics (2017) View citations (3) (2017)

Chapters

2026

1. Five Facts about the UIP Premium
   A chapter in NBER International Seminar on Macroeconomics 2026, 2026
   See also Working Paper Five Facts about the UIP Premium, Centre for Economic Policy Research (2021) View citations (3) (2021)

2024

2. Firms, currency hedging, and financial derivatives
   Chapter 15 in Handbook of Financial Integration, 2024, pp 340-370 View citations (1)