Gara Afonso

Gara Afonso

Assistant Vice President
Financial Intermediation Function
Federal Reserve Bank of New York
33 Liberty Street
New York, NY 10045

gara.afonso@ny.frb.org

   
The Market Events of Mid-September 2019
With Marco Cipriani, Adam Copeland, Anna Kovner, Gabriele La Spada, and Antoine Martin
Federal Reserve Bank of New York Economic Policy Review, Volume 27 Number 2, August 2021

A Model of the Federal Funds Market: Yesterday, Today, and Tomorrow
With Roc Armenter and Benjamin Lester
Review of Economic Dynamics, Volume 33, July 2019, Pages 177–204
See also ››
Federal Reserve Bank of New York Staff Reports, Number 840

How Do Global Banks Scramble for Liquidity? Evidence from the Asset-Backed Commercial Paper Freeze of 2007
With Viral V. Acharya and Anna Kovner
Journal of Financial Intermediation, Volume 30, April 2017, Pages 1–34
See also ››
Federal Reserve Bank of New York Staff Reports, Number 623

The Over-the-Counter Theory of the Fed Funds Market: A Primer
With Ricardo Lagos
Journal of Money, Credit and Banking, Volume 47, Issue S2, pages 127–154, June 2015
See also ››
Federal Reserve Bank of New York Staff Reports, Number 660, December 2013

Trade Dynamics in the Market for Federal Funds
With Ricardo Lagos
Econometrica, Volume 83, Issue 1, pages 263–313, January 2015
See also ››
Federal Reserve Bank of New York Staff Reports, Number 549, February 2012,
Revised June 2014

Do "Too-Big-to-Fail" Banks Take On More Risk?

With Joao Santos, and James Traina
Federal Reserve Bank of New York Economic Policy Review, Volume 20, Number 2,
December 2014

Precautionary Demand and Liquidity in Payment Systems
With Hyun Song Shin
Journal of Money, Credit and Banking, 43 (s2), 589-619, October 2011
See also ››
Federal Reserve Bank of New York Staff Reports, Number 352

Stressed, not Frozen: The Federal Funds Market in the Financial Crisis
With Anna Kovner and Antoinette Schoar
Journal of Finance, 66 (4), 1109-1139, August 2011
See also ››
Federal Reserve Bank of New York Staff Reports, 437

Liquidity and Congestion
Journal of Financial Intermediation, 20 (3), 324-360, July 2011
See also ››
Federal Reserve Bank of New York Staff Reports, 349, October 2008

Imperfect Common Knowledge in First Generation Models of Currency Crises
International Journal of Central Banking, 3 (1), (2007)
81-111

Gara Afonso's CVPDF

The views expressed in the papers listed on this page are those of the author(s) and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System.
By continuing to use our site, you agree to our Terms of Use and Privacy Statement. You can learn more about how we use cookies by reviewing our Privacy Statement.   Close