Recent working papers:

“General Equilibrium Oligopoly and Ownership Structure” (with J. Azar).

“Financial Markets, Common Ownership and Product Market Outcomes” (with A. Banal-Estañol and J. Seldeslachts).

“Exchange Competition, Entry, and Welfare” (with G. Cespa).

“Market Transparency and Fragility” (with G. Cespa).

“Costly Interpretation of Asset Prices” (with J. Mondria and L. Yang).

“Market Power and Welfare in Asymmetric Divisible Good Auctions” (with C. Manzano), R&R at Theoretical Economics.

“Information Frictions and Market Power: A Laboratory Study” (with A. Bayona and J. Brandts), R&R at Games and Economic Behavior.


Lectures and Talks:

“Digital Disruption in Banking”, 46th annual meeting EFA 2019.


“Competition and Regulation in the Financial Sector”, G7 & Banque de France Conference 2019.

Presidential Address “Common Ownership, Market Power and Innovation”, EARIE 2018.


Selected recent and forthcoming publications:

“Diversification, Common Ownership, and Strategic Incentives” (with A. Banal-Estañol and J. Seldeslachts), forthcoming at AEA Papers and Proceedings, 2020.

Sound at last? Assessing a decade of financial regulation, 2019 (with P. Bolton, S. Cecchetti, J.P. Danthine), CEPR, pp. 132.

“Digital Disruption in Banking”, The Annual Review of Financial Economics, 2019, 11, 243-272.

“Common Ownership, Market Power, and Innovation”, forthcoming at International Journal of Industrial Organization, 2019.

“Competition Policy in Banking in the European Union” (with J. Maudos), Review of Industrial Organization, 2019, 55, 1, 27-46.

“Common Ownership and the Secular Stagnation Hypothesis”, (with J. Azar), AEA Papers and Proceedings, 2019, 109, 322-326.

“Competition and Stability in Modern Banking: A Post-Crisis Perspective”International Journal of Industrial Organization, 2019, 64, 55-69.

“Overlapping Ownership, R&D Spillovers and Antitrust Policy” & Online Appendix & Web simulation (with A. López), Journal of Political Economy, 2019, 127, 5, 2394-2437.

“Endogenous Public Information and Welfare in Market Games”, Review of Economic Studies, 2017, 84, 2, 935-963.


Recent opinion articles:

La economía de la Covid-19, La Vanguardia, 2/04/2020.

Fer el que calgui, Ara, 21/03/2020.

El impacto del coronavirus, La Vanguardia, 5/03/2020.

The Spanish left takes center stage, Project Syndicate, 8/01/2020.

All’Europa serve una strategia unica sul clima, Il sole 24 ore, 8/11/2019.

How to Keep Central Banks Independent, Project Syndicate, 11/07/2019.

Sound at last? Assessing a decade of financial regulation: A new eBook, VoxEU.org, 3/06/2019.

Produttività e riforme strutturali, ecco il deficit dell’Italia verso Madrid, Il sole 24 ore,  30/03/2019.

How will banking look in 10 years’ time?, The Banker, 2/01/2019.



President of EARIE, European Association for Research in Industrial Economics, for 2016-2018.

ERC Identification Committee, June 2014.  Telediario TVE1, 28/06/2014.

Editor of the Journal of Economic Theory, 2013-