Finance and macroeconomics:

[9] “Daily growth at risk: financial or real drivers? The answer is not always the same”(with Chuliá, H. and Garrón, I.), International Journal of Forecasting. Accepted.

[8] “Does economic complexity reduce the probability of a fiscal crisis?“(with Gomez-Gonzalez, J.E. and Valencia, O.), World Development.

[7] “Banks’ leverage in foreign exchange derivatives in times of crisis: A tale of two countries“(with Giraldo, C., Giraldo, I., and Gomez-Gonzalez, J.E.) Emerging Markets Review.

[6] “Expected, unexpected, good and bad aggregate uncertainty” (with Chuliá H.) Studies in Nonlinear Dynamics & Econometrics.

[5] “Asymmetric volatility spillovers and consumption risk-sharing” (with Chuliá H.) Applied Economics.

[4] “The credit supply channel of monetary policy: evidence from a FAVAR model with sign restrictions” (with Holguín J.S.) Empirical Economics.

[3] “Measuring uncertainty in the stock market” (with Chuliá H. and Guillén M.) International Review of Economics and Finance.

[2] “Uncertainty, systemic shocks and the global banking sector: has the crisis modified their relationship?” (with Chuliá, H. and M. Guillén) Journal of International Financial Markets, Institutions & Money.

[1] “Regímenes de volatilidad del tipo de cambio en Colombia e intervenciones de política” (with Fernández, J., Jiménez, D.) Investigación Económica.

Financial markets:

[10] “Nonlinear market liquidity: An empirical examination“(with Chuliá H. and Mosquera-López S.) International Review of Financial Analysis.

[9] “European stock market volatility connectedness: The role of country and sector membership” (with Guillén,M. and Vidal, J.J.) Journal of International Financial Markets, Institutions & Money.

[8] “Risk spillovers between global corporations and Latin American sovereigns: global factors matter” (with Gomez-Gonzalez, J.E. and Valencia, O.)  Applied Economics.

[7] “Spillovers beyond the variance: Exploring the higher order risk linkages between commodity markets and global financial markets” (with Gomez-Gonzalez, J.E. and Hirs-Garzon J.) Journal of Commodity Markets.

[6] “Analyzing the nonlinear pricing of liquidity risk according to the market state” (with Chuliá H. and Koser C.) Finance Research Letters.

[5] “Giving and receiving: exploring the predictive causality between oil prices and exchange rates” (with Gomez-Gonzalez J.E. and Hirs-Garzon J.) International Finance.

[4] “Uncovering the time-varying causality between volatility and commonality in liquidity” (with Chuliá H. and Koser C.) International Review of Financial Analysis 69.

[3] “Currency downside risk, liquidity, and financial stability” ” (with Chuliá, H. and J. Fernández) Journal of International Money and Finance.

[2] “Impact of US uncertainties on emerging and mature markets: Evidence from a quantile-vector autoregressive approach” (with Chuliá, H., Gupta, R. and M. Wohar) Journal of International Financial Markets, Institutions & Money.

[1] “Spillovers from the United States to Latin American and G7 stock markets: A VAR-Quantile analysis” (with Chuliá H. and Guillén M.) Emerging Markets Review.

Corporate Finance:

[5] “Systemic political risk” (with Chuliá, H and Estevez M.) Economic Modelling.

[4] “Cyclical capital structure decisions” (with Llobet-Dalmases J. and Plana-Erta, D.) North American Journal of Economics and Finance.

[3] “Interdependent capital structure choices and the macroeconomy” (with Gomez-Gonzalez J.E. and Hirs-Garzon J.) North American Journal of Economics and Finance.

[2] “Commonality, macroeconomic factors and banking profitability” (with Joaqui, O. and Manotas, D.) North American Journal of Economics and Finance.

[1] “Dynamic capital structure under changing market conditions in the oil industry: An empirical investigation” (with Restrepo, N. and D. Manotas) Resources Policy.

Energy markets:

[9] “Pricing the risk due to weather conditions in small variable renewable energy projects” (with Mosquera-López, S.)  Applied Energy.

[8] “Assessing the relationship between electricity and natural gas prices in European markets in times of distress” (with S. Mosquera-López and Arenas, O.)  Energy Policy.

[7] “Characterizing electricity market integration in Nord Pool” (with Mosquera, S., and Guillén M.) Energy.

[6] “Volatility spillovers in energy markets”(with Chuliá H. and M. D. Furió) Energy Journal.

[5] “Uncovering the nonlinear predictive causality between natural gas and electricity prices”(with Guillén, M. and S. Mosquera-López) Energy Economics.

[4] “Effect of stopping hydroelectric power generation on electricity prices: An event study approach”(with Mosquera-López, S. and D. Manotas) Renewable and Sustainable Energy Reviews.

[3] “Financial risk network architecture of energy firms” (with Restrepo, N. and D. Manotas) Applied Energy.

[2] “Nonlinear empirical pricing in electricity markets using fundamental weather factors”, (with Mosquera-López S. and Manotas D.) Energy.

[1] “Risk asymmetries in hydrothermal power generation markets”  (with Mosquera-López S. and Manotas D.) Electric Power Systems Research.

Actuarial science:

[2] “Trends in the quantiles of the life table survivorship function” (with Chuliá, H. and M. Guillén) European Journal of Population.

[1] “Modeling longevity risk with generalized dynamic factor models and vine copulae“(with H. Chuliá and M. Guillén.) Astin Bulletin.


[1] “Quantile Regression for Cross-Sectional and Time Series Data: Applications in Energy Markets Using R” (with Guillén, M.) Springer-Finance, 2020.

[2] “Essays on Risk and Uncertainty in Economics and Finance Ed. Universidad de Cantabria, 2022.

*ISI-JCR publications only. A full list of my publications can be found on my Ideas-Repec or ResearchGate sites.