Our Team
Leonardo Martinez
Leonardo Martinez was an economist in the Research Department at the Federal Reserve Bank of Richmond from 2004 to 2011. Martinez is currently a senior economist at the International Monetary Fund.
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Working Papers
July 2013, No. 13-08
We study the sovereign debt duration chosen by the government in the context of a standard model of sovereign default.
Juan Carlos Hatchondo and Leonardo Martinez
February 2013, No. 13-01RThis paper provides a theoretical framework to quantitatively investigate the optimal accumulation of international reserves to hedge against rollover risk.
Javier Bianchi, Juan Carlos Hatchondo and Leonardo Martinez
March 2012, No. 12-01This paper examines the optimality of fiscal rules and measures their aggregate effects using a baseline sovereign default framework.
Juan Carlos Hatchondo, Leonardo Martinez and Francisco Roch
September 2011, No. 11-05RJuan Carlos Hatchondo, Leonardo Martinez and Juan M. Sanchez
May 2010, No. 10-08RJuan Carlos Hatchondo, Leonardo Martinez and Cesar Sosa Padilla
March 2010, No. 10-04Juan Carlos Hatchondo, Leonardo Martinez and Horacio Sapriza
October 2009, No. 09-13Juan Carlos Hatchondo, Leonardo Martinez and Horacio Sapriza
May 2008, No. 08-2RWe show that, when we assume that the government issues bonds with a duration similar to the average duration of sovereign bonds in emerging economies, the model generates an interest rate that is substantially higher and more volatile than the one obtained assuming one-quarter bonds.
Juan Carlos Hatchondo and Leonardo Martinez
March 2007, No. 07-1RJuan Carlos Hatchondo, Leonardo Martinez and Horacio Sapriza
December 2006, No. 06-11Juan Carlos Hatchondo, Leonardo Martinez and Horacio Sapriza
January 2006, No. 06-1RLeonardo Martinez
July 2005, No. 05-4RLeonardo Martinez
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Bank Publications
Economic Quarterly, Second Quarter 2012
Juan Carlos Hatchondo and Leonardo Martinez
Economic Quarterly, Second Quarter 2011Juan Carlos Hatchondo and Leonardo Martinez
Economic Quarterly, Third Quarter 2010Juan Carlos Hatchondo and Leonardo Martinez
Economic Quarterly, Summer 2009Leonardo Martinez
Economic Brief, November 2008, No. 08-02Leonardo Martinez and Stephen Slivinski
Economic Quarterly, Spring 2008Kevin A. Bryan and Leonardo Martinez
Economic Quarterly, Summer 2007Juan Carlos Hatchondo, Leonardo Martinez and Horacio Sapriza
Economic Quarterly, Spring 2007Juan Carlos Hatchondo, Leonardo Martinez and Horacio Sapriza
Economic Quarterly, Winter 2006Andrew Foerster and Leonardo Martinez
Our Team
Leonardo Martinez was an economist in the Research Department from 2004 to 2011. He is currently an economist at the IMF Institute at the International Monetary Fund.