Researchers

Catao, Luis - Economist

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Publications

Professional profile:

Luis A.V. Catão is a Senior Economist at the research department. His research spans a variety of topics in international finance and open economy macroeconomics, including sovereign debt and emerging market risk, exchange rate modeling and empirics, monetary policy and inflation, international business cycles, and long-term economic growth with particular reference to Latin America.

 

Dr. Catão graduated in Electrical Engineering and also in Economics (with honors) at the Federal University of Rio de Janeiro, and holds a Master’s and PhD degrees from the University of Cambridge. Prior to joining the IDB, he had been a Senior Economist at the research department of the International Monetary Fund. Other previous appointments include an assistant professorship at the University of London, a research fellowship at the Institute of Latin American Studies of the same University, and a visiting scholar position at the department of economics of the University of California, Los Angeles. He has published extensively in academic and policy-oriented journals, including most recently the American Economic Review, the Journal of Monetary Economics, the Journal of Development Economics, and the IMF Staff Papers. He has contributed to several issues of the IMF’s World Economic Outlook and, more recently, to the IDB’s April 2008 report entitled “All that Glitters may not be Gold” on Latin America’s recent economic performance. His research papers have received press coverage in The Economist, Dow Jones International News, The Herald Tribune, the Washington Post, and Valor Economico.

 

 

Recent Publications:

 

 

“Persistent Gaps and Default Traps”, Journal of Development Economics, Forthcoming.

(with Ana Fostel and Sandeep Kapur).

 

“Volatility Regimes and Global Stock Returns”, in Bollerslev, T., J. Russell, and M.Watson (eds), Festchrift for Robert Engle, forthcoming. (with Allan Timmermann)

 

“Sudden Stops and Currency Drops: A Historical Look”, in Sebastian Edwards et. al. (eds.), Growth, Institutions, and Crisis: Latin America from a Historical Perspective, NBER/ University of Chicago, 2007.

 

“Volatility and the Debt Intolerance Paradox”, IMF Staff Papers, Vol. 56, No.3, pp.195-218, June 2006. (with Sandeep Kapur)

 

“Effective Exchange Rates and the Classical Gold Standard Adjustment”, American Economic Review, 95(4), pp. 1259-75, September 2005. (with Solomos Solomou)

 

“Fiscal Deficits and Inflation”, Journal of Monetary Economics, 52, pp. 529-54, April 2005. (with Marco Terrones)

 

 

Recent Working Papers:

 

 

“Monetary Transmission in Brazil”, IMF working paper, forthcoming.

            (with Douglas Laxton and Adrian Pagan).

 

 “Perspectives on Low Global Interest Rates”, IMF working paper WP/06/76, March 2006 (with Sandy Mackensie).

 

 “Common Factors in Latin America’s Business Cycles”, IMF working paper WP/06/49, February 2006 (with Marco Aiofi and Allan Timmermann)

 

“Country and Industry Factors in Stock Returns: A Regime Switching Approach”, CEPR discussion paper 4368, April 2004, London.

 

 

Shorter Articles:

 

“Backcasting Latin America” Finance and Development, Vol 44, no.4, pp. 39-43, December 2007

 

“Why Real Exchange Rates?” Finance and Development, Vol 44, no.3, pp. 46-7, September 2007

 

 

Data Bases and Links:

 

 

“Data Sources for Persistent Gaps and Default Traps”, June 2008

http://www.iadb.org/res/files/CATAO-DefaultTraps-data.pdf

 

E-mail: lcatao@iadb.org

 

Publications:

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IDB-WP-118	Working Papers	Financial Dependence, Formal Credit and Informal Jobs	Pagés-Serra, Carmen Catao, Luis Rosales, Maria Fernanda		Dec, 2009

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