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Germán Villegas-Bauer

International Monetary Fund

Economist

700 19th Street, N.W.

Washington, DC 20431

United States

SCHOLARLY PAPERS

5

DOWNLOADS

551

TOTAL CITATIONS

2

Scholarly Papers (5)

1.
Downloads 279 (278,382)
Citation 2

Derivative Margin Calls: A New Driver of Mmf Flows

IMF Working Paper No. 2023/061
Number of pages: 39 Posted: 05 Apr 2023
Maddalena Ghio, Linda Rousova, Dilyara Salakhova and Germán Villegas-Bauer
European Central Bank (ECB), European Central Bank (ECB), Banque de France and International Monetary Fund
Downloads 93 (732,131)
Citation 2

Abstract:

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liquidity risk, money market funds, big data, interconnectedness, non-bank financial intermediaries., EUR-denominated MMFs, derivative margin calls, MMF flow, variation margin payment, VM flow, Stocks, Liquidity, Mutual funds, Nonbank financial institutions, Pension spending, Global

Derivative Margin Calls: A New Driver of MMF Flows

ECB Working Paper No. 2023/2800
Number of pages: 36 Posted: 24 Mar 2023
Maddalena Ghio, Linda Rousova, Dilyara Salakhova and Germán Villegas-Bauer
European Central Bank (ECB), European Central Bank (ECB), Banque de France and International Monetary Fund
Downloads 57 (1,017,159)

Abstract:

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big data, interconnectedness, liquidity risk, money market funds, non-bank financial intermediaries

Derivative margin calls: A new driver of MMF flows

Number of pages: 39 Posted: 08 Oct 2025
Dilyara Salakhova, Linda Rousova, Germán Villegas-Bauer and Maddalena Ghio
Banque de France, European Central Bank (ECB), International Monetary Fund and European Central Bank (ECB)
Downloads 48 (1,119,531)

Abstract:

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liquidity risk, money market funds, big data, interconnectedness, non-bank financial intermediaries

Derivative Margin Calls: A New Driver of Mmf Flows

Number of pages: 39 Posted: 25 Jan 2025
Maddalena Ghio, Linda Rousova, Dilyara Salakhova and Germán Villegas-Bauer
European Central Bank (ECB), European Central Bank (ECB), Banque de France and International Monetary Fund
Downloads 44 (1,183,247)

Abstract:

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liquidity risk, money market funds, big data, interconnectedness, non-bank financial intermediaries

Derivative Margin Calls: A New Driver of Mmf Flows

Number of pages: 39 Posted: 15 Jan 2025
Maddalena Ghio, Linda Rousova, Dilyara Salakhova and Germán Villegas-Bauer
European Central Bank (ECB), European Central Bank (ECB), Banque de France and International Monetary Fund
Downloads 37 (1,281,607)

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liquidity risk, money market funds, big data, interconnectedness, non-bank financial intermediaries

2.

Mitigating Climate Change at the Firm Level: Mind the Laggards

IMF Working Paper No. 2023/242
Number of pages: 80 Posted: 06 Dec 2023
Damien Capelle, Divya Kirti, Nicola Pierri and Germán Villegas-Bauer
International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF) and International Monetary Fund
Downloads 97 (720,278)

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Climate Change, Productivity, Technology Adoption, Capital Vintages, Emissions, R&D expenditure, capital vintage, management practice, emission intensity, emission Intensity, Carbon tax, Greenhouse gas emissions, Consumption, Stocks, Global

3.

Inelastic Demand Meets Optimal Supply of Risky Sovereign Bonds

IMF Working Paper No. 2024/227
Number of pages: 64 Posted: 06 Nov 2024
affiliation not provided to SSRN, University of Naples Federico II, World Bank - Development Research Group (DECRG), International Monetary Fund and George Washington University
Downloads 92 (747,755)

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inelastic financial markets, institutional investors, international capital markets, sovereign debt, IMF working paper research Department, debt issuance, price reaction, convenience yield, default cost parameter, long-term debt, U.S. dollar, bond payoff, investor demand, bond characteristics-month, inelastic investor, bond price change, unit price, price movement, Bonds, Asset prices, Demand elasticity, Debt default, Sovereign bonds, Global

4.

Stablecoins and the Future of Payments

IMF Working Paper No. 2026/052
Number of pages: 58 Posted: 26 Mar 2026
International Monetary Fund, International Monetary Fund (IMF), International Monetary Fund (IMF) and International Monetary Fund
Downloads 50 (1,086,013)

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Crypto Assets, Stablecoins, Payments, Stock Returns

5.

Financial Constraints and the Effectiveness of Green Financial Policies

IMF Working Paper No. 2025/269
Number of pages: 58 Posted: 26 Dec 2025
International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund and KAPSARC School of Public Policy
Downloads 33 (1,277,121)

Abstract:

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Climate Change, Emissions, Financial Constraints, Financial Frictions, Productivity, Technology Adoption, Capital Vintages.