Publications

Working papers

3. No Country for Dirty Money? The Economic Footprint of Anti-Money Laundering Standards

with Cesare Fracassi (UT Austin) and Eric Lee (UT Austin)
SSRN, 2025

2. The Interoperability of Financial Data

with Elif Cansu (KU Leuven) and Tamas Vadasz (KU Leuven)
SSRN, 2025

1. Vertically Disintegrated Platforms

with Christoph Aymanns (QuantCo) and Mathias Dewatripont (ULB, CEPR)
Proceedings of the 21st ACM Conference on Economics and Computation, 2020
Video Presentation

Journal publications

8. Asset Overhang and Technological Change

with Hans Degryse (KU Leuven, CEPR) and Joris Tielens (NBB)
Forthcoming @ Review of Financial Studies, 2024
Versions: SSRN · CEPR WP
Coverage: VoxEU coverage · EconPol · ECB Strategy Review

7. Financial influence on global risks of zoonotic emerging and re-emerging diseases: an integrative analysis

with Victor Galaz (Stockholm University), Juan Rocha (Stockholm University), Paula Andrea Sánchez-García (Stockholm University), Alice Dauriach (Stockholm University), Peter Søgaard Jørgensen (Stockholm University) The Lancet Planetary Health, 2023

6. Financial wealth and early income mobility

with Milan van den Heuvel (UGhent), Koen Schoors (UGhent), Jan Ryckebusch (UGhent)
Humanities & Social Sciences Communications (Nature), 2022

5. Compressing Over-the-Counter Markets

with Marco D’Errico (European Systemic Risk Board)
Operations Research, 2021
Rewards: ESRB Ieke van den Burg Prize (2017) · Best Paper at ECMI Annual Conference (2020)
Presentations: Video 1 · Video 2
Coverage: ECB’s President Mario Draghi Speech · Revision of the European Market Infrastructure Regulation · Thomson Reuter

4. Generalists and Specialists in the Credit Market

with Daniel Fricke (Bundesbank - UCL)
Journal of Banking and Finance, 2020

3. Interconnectedness as a Source of Uncertainty in Systemic Risk

with Stefano Battiston (UZH) and Joseph E. Stiglitz (Columbia)
Journal of Financial Stability, 2018
Coverage: Bloomberg · El Financiero · FNRS Magasine

2. The Price of Complexity in Financial Networks

with Stefano Battiston (UZH), Guido Caldarelli (IMT Lucca), Robet May (Oxford) and Joseph E. Stiglitz (Columbia)
Proceedings of the National Academy of Science, 2016
Coverage: Bloomberg, Business World, Trends, L’Avenir

1. Default Cascades in Complex Networks: Topology and Systemic Risk

with Hugues Bersini (ULB), Hugues Pirotte (ULB), Guido Caldarelli (IMT), and Stefano Battiston (ETH)
Nature Scientific Reports, 2013
Coverage: IMF Research Bulletin, La Libre, Knack

Policy work

4. Decentralised Finance (DeFi): information frictions and public policies

Report prepared for the EU Commission - DG Fisma, 2022
Coverage: Financial Times, Coindesk, TheBlock, Forbes, TheDefiant, CompetitionPolicyInternational

3. Compressing OTC Markets

Research Bulletin - MIT Golub Centre for Finance and Policy , 2018

2. Shedding lights on dark markets: First insights from the new EU-wide OTC derivative dataset

with Jorge Abad (CEMFI), Inaki Aldasoro (BIS), Christoph Aymanns (LSE), Marco D’Errico (UZH), Linda Fache Rousova (ECB), Peter Hoffman (ECB) and Sam Langfield (ESRB)
Occasional Paper - European Systemic Risk Board, 2016
Coverage: M. Draghi (ECB President): Welcome remarks at the third annual conference of the ESRB · V.Constâncio (ECB Vice-President): “Macroprudentialstress-tests and tools for the non-bank sector” · V. Constâncio (ECB Vice-President): “Macroprudential policy in a changing financial system”; M. Draghi (ECB President): ESRB annual conference welcome address · CentralBanking.com: “ESRB publishes guide to OTC derivatives database” · Philip Lane (Central Bank of Ireland Governor): “The Management of Systemic Risks: Current Priorities” · Andy Haldane (Bank of England Chief Economist) : “Will Big Data Keep Its Promise?”

1. A Network Analysis of the German Interbank Market

with Co-Pierre Georg (Bundesbank) and Stefano Battiston (UZH)
Discussion Paper - Deutsche Bundesbank, 2014