Research at the IMF: Fabian Valencia

Fabian Valencia

Last Updated: April 16, 2023

Background

Fabián Valencia is an Advisor in the Strategy, Policy, and Review Department (SPR) of the International Monetary Fund, overseeing IMF relations with a wide range of countries. Prior to his current position, he served as Deputy Chief in the Macrofinancial Unit of SPR, supporting the IMF’s efforts to strengthen macrofinancial surveillance. He has also worked in the Western Hemisphere and Research Departments of the IMF. He holds a Ph.D. in Economics from The Johns Hopkins University and a M.Sc. in Economics from the Catholic University of Leuven, Belgium. His research interests include financial crises, monetary policy, macroprudential policy, and financial intermediation and the real economy.

Email: FVALENCIA@imf.org

Fluent In: Spanish.

Education:

Ph.D. in Economics, Johns Hopkins University, 2006

M.Sc. in Economics, Katholieke Universiteit Leuven, 1999

B.A. in Economics, Universidad Católica de Guayaquil, 1997

Referee Activities:

American Economic Review, Review of Economic Studies, Journal of Money, Credit, and Banking, IMF Economic Review, Economic Journal, Economic Letters, European Journal of Political Economy, International Economic Review, European Economic Review, Journal of International Money and Finance, Journal of International Economics, Journal of Applied Econometrics, Journal of Financial Intermediation, Journal of Banking and Finance, Journal of Financial Stability, Macroeconomic Dynamics, Economics, Economica, International Journal of Central Banking.

IMF Publications

IMF Books and Working Papers:

Handle with Care: Regulatory Easing in Times of COVID-19 , Working Paper No. 2021/049 , February 26, 2021

Effects of Macroprudential Policy: Evidence from Over 6,000 Estimates , Working Paper No. 20/67 , May 22, 2020

Systemic Banking Crises Revisited , Working Paper No. 18/206 , September 14, 2018

Welfare Gains from Market Insurance: The Case of Mexican Oil Price Risk , Working Paper No. 18/35 , March 02, 2018

Monetary Policy Credibility and Exchange Rate Pass-Through , Working Paper No. 16/240 , December 13, 2016

Corporate Investment in Emerging Markets : Financing vs. Real Options Channel , Working Paper No. 15/285 , December 30, 2015

Made in Mexico: Energy Reform and Manufacturing Growth , Working Paper No. 15/45 , February 27, 2015

Monetary Policy in the New Normal , Staff Discussion Notes No. 14/3 , April 04, 2014

Financial Crises : Causes, Consequences, and Policy Responses , February 19, 2014

Aggregate Uncertainty and the Supply of Credit , Working Paper No. 13/241 , December 02, 2013

Systemic Banking Crises Database: An Update , Working Paper No. 12/163 , June 01, 2012

Central Bank Independence and Macro-Prudential Regulation , Working Paper No. 12/101 , April 01, 2012

Balance-Sheet Shocks and Recapitalizations , Working Paper No. 12/68 , March 01, 2012

Monetary Policy, Bank Leverage, and Financial Stability , Working Paper No. 11/244 , October 01, 2011

Crisis Management and Resolution: Early Lessons from the Financial Crisis , Staff Discussion Notes No. 11/5 , March 09, 2011

The Real Effects of Financial Sector Interventions During Crises , Working Paper No. 11/45 , March 01, 2011

Bank Capital and Uncertainty , Working Paper No. 10/208 , September 01, 2010

Resolution of Banking Crises: The Good, the Bad, and the Ugly , Working Paper No. 10/146 , June 01, 2010

Precautionary Reserves: An Application to Bolivia , Working Paper No. 10/54 , March 01, 2010

Banks' Precautionary Capital and Credit Crunches , Working Paper No. 08/248 , October 01, 2008

The Use of Blanket Guarantees in Banking Crises , Working Paper No. 08/250 , October 01, 2008

Systemic Banking Crises: A New Database , Working Paper No. 08/224 , September 01, 2008

How Costly are the 2007-2009 Systemic Banking Crises?, 2010, with Luc Laeven, in "Financial Sector Taxation. The IMF's Report to the G-20 and Background Material." Edited by Stijn Claessens, Michael Keen, and Ceyla Pazarbasioglu. International Monetary Fund, Washington D.C., September 2010.

Monetary Policy and Bank Risk Taking, 2010, with Gianni De Nicolo, Giovanni Dell'Ariccia, and Luc Laeven. IMF Staff Position Note 10/09

Policy Responses to Systemic Banking Crises, 2010, in MacroFinancial Linkages: Trends, Crises, and Policies. Edited by Christopher Crowe, Simon Johnson, Jonathan Ostry, and Jeromin Zettelmeyer. International Monetary Fund, Washington D.C. 2010

Global Financial Regulatory Reform: Implications for Latin America and the Caribbean (LAC), 2009, with a team led by Robert Rennhack. Staff Position Note 2009/20.

A Survey of Financial Linkages, 2008, with Gaston Gelos and Martin Cerisola. In Who's Driving Whom? Analyzing External and Intra-Regional Linkages in the Americas. Edited by Martin Mulheisen, Shaun Roache, and Jeromin Zettelmeyer.

Non-IMF Publications