{
  "title": "German Villegas Bauer",
  "sourceUrl": "https://www.imf.org/en/research/researcher-cv/author/villegas-bauer-german",
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  "summary": "Germán Villegas Bauer is an Economist at the Macro-Financial Division of the IMF Research Department. His research interests include institutional investors, financial markets, fintech, and climate change.",
  "authors": [
    "German Villegas Bauer"
  ],
  "sections": [
    {
      "heading": "Biography",
      "content": "Germán Villegas Bauer is an Economist at the Macro-Financial Division of the IMF Research Department. His research interests include institutional investors, financial markets, fintech, and climate change."
    },
    {
      "heading": "Education",
      "content": "- PhD. in Economics, The University of Chicago, 2016-2021\n\n- M.A. in Economics, The University of Chicago, 2016-2018\n\n- M.A. in Economics, Torcuato Di Tella University (Buenos Aires, Argentina), 2014-2015\n\n- B.A. in Economics, University of Buenos Aires (Buenos Aires, Argentina), 2009-2013"
    },
    {
      "heading": "Previous Experience",
      "content": "- 2021 PhD Trainee, European Central Bank\n\n- 2020 Intern, International Monetary Fund\n\n- 2019 External Consultant, The World Bank\n\n- 2019 Researcher, The University of Chicago\n\n- 2015-2016 Research Assistant, Torcuato Di Tella University\n\n- 2013-2014 Analyst, Buenos Aires City Government"
    },
    {
      "heading": "Referee Activities",
      "content": "- Journal of Political Economy"
    },
    {
      "heading": "Awards and Honors",
      "content": "- 2021 Wayne C. Booth Graduate Student Prize for Excellence in Teaching, The University of Chicago\n\n- 2019-2020 Bradley Fellowship, The University of Chicago\n\n- 2020 Outstanding Graduate Lecturer for Microeconomics Award, The University of Chicago\n\n- 2019 Outstanding Graduate Teaching Assistant Award, The University of Chicago\n\n- 2017 Martin and Margaret Lee Prize in Economics Granted for Highest Score on the Price Theory Core Examination, The University of Chicago\n\n- 2016-2021 Neubauer Fellowship, The University of Chicago\n\n- 2016-2021 Social Sciences 5-year Fellowship, The University of Chicago\n\n- 2014 MA Scholarship for Highest GPA at MA Entrance Course, University Torcuato Di Tella"
    },
    {
      "heading": "Teaching",
      "content": "- 2017-2021 Lecturer and Teaching Assistant, The University of Chicago\n\n- 2014-2016 Lecturer and Teaching Assistant, Torcuato Di Tella University\n\n- 2013-2016 Teaching Assistant, University of Buenos Aires"
    },
    {
      "heading": "IMF Direct Blog Posts",
      "content": "- How Crypto and CBDCs Can Use Less Energy Than Existing Payment Systems (2022), IMF Blog"
    },
    {
      "heading": "IMF Books and Working Papers",
      "content": "- Stablecoins and the Future of Payments: Evidence from Financial Markets, Working Paper No. 2026/052 , March 20, 2026\n\n- Financial Constraints and the Effectiveness of Green Financial Policies, Working Paper No. 2025/269 , December 19, 2025\n\n- Evaluating the Implications of CBDC for Financial Stability, Fintech Notes No 2025/008 , November 13, 2025\n\n- Tokenization and Financial Market Inefficiencies, Fintech Notes No 2025/001 , January 29, 2025\n\n- Inelastic Demand Meets Optimal Supply of Risky Sovereign Bonds, Working Paper No. 2024/227 , November 1, 2024\n\n- Mitigating Climate Change at the Firm Level: Mind the Laggards, Working Paper No. 2023/242 , November 24, 2023\n\n- Derivative Margin Calls: A New Driver of MMF Flows, Working Paper No. 2023/061 , March 17, 2023\n\n- Digital Currencies and Energy Consumption, FinTech Notes No 2022/006 , June 7, 2022"
    },
    {
      "heading": "IMF Country Reports",
      "content": "- Climate Policies at the Firm Level (2025), Annex XIII in Country Report No. 2025/028\n\n- Canada’s Climate Mitigation Policies (2024), Annex XII in Country Report No. 2024/228"
    },
    {
      "heading": "Other Published Materials",
      "content": "- Elements of Effective Policies for Crypto Assets (2023), IMF Policy Paper No 2023/004\n\n- Corporate Funding: Liquidity Strains Cushioned by a Powerful Set of Policies (2020), IMF October 2020 Global Financial Stability Report Chapter 3\n\n- Corporate Sustainability: Firms’ Environmental Performance and the COVID-19 Crisis (2020), IMF October 2020 Global Financial Stability Report Chapter 5"
    },
    {
      "heading": "Publications in Journals (Refereed)",
      "content": "- The Effect of Split-Ticket Voting Cost on Effective Enfranchisement (2024), Electoral Studies 87, 102736\n\n- Lessons from Crypto Assets for the Design of Energy Efficient Digital Currencies (2023), Ecological Economics 212, 107888"
    },
    {
      "heading": "Other Published Materials",
      "content": "- IMF-FSB Synthesis Paper: Policies for Crypto-Assets (2023)\n\n- The Effect of Split-Ticket Voting Cost on Electoral Enfranchisement (2022), CAF Working Paper No 2022/24"
    }
  ],
  "bullets": [
    "PhD. in Economics, The University of Chicago, 2016-2021",
    "M.A. in Economics, The University of Chicago, 2016-2018",
    "M.A. in Economics, Torcuato Di Tella University (Buenos Aires, Argentina), 2014-2015",
    "B.A. in Economics, University of Buenos Aires (Buenos Aires, Argentina), 2009-2013",
    "2021 PhD Trainee, European Central Bank",
    "2020 Intern, International Monetary Fund",
    "2019 External Consultant, The World Bank",
    "2019 Researcher, The University of Chicago",
    "2015-2016 Research Assistant, Torcuato Di Tella University",
    "2013-2014 Analyst, Buenos Aires City Government",
    "Journal of Political Economy",
    "2021 Wayne C. Booth Graduate Student Prize for Excellence in Teaching, The University of Chicago",
    "2019-2020 Bradley Fellowship, The University of Chicago",
    "2020 Outstanding Graduate Lecturer for Microeconomics Award, The University of Chicago",
    "2019 Outstanding Graduate Teaching Assistant Award, The University of Chicago",
    "2017 Martin and Margaret Lee Prize in Economics Granted for Highest Score on the Price Theory Core Examination, The University of Chicago",
    "2016-2021 Neubauer Fellowship, The University of Chicago",
    "2016-2021 Social Sciences 5-year Fellowship, The University of Chicago",
    "2014 MA Scholarship for Highest GPA at MA Entrance Course, University Torcuato Di Tella",
    "2017-2021 Lecturer and Teaching Assistant, The University of Chicago",
    "2014-2016 Lecturer and Teaching Assistant, Torcuato Di Tella University",
    "2013-2016 Teaching Assistant, University of Buenos Aires",
    "[How Crypto and CBDCs Can Use Less Energy Than Existing Payment Systems (2022), IMF Blog](https://blogs.imf.org/2022/06/16/how-crypto-and-cbdcs-can-use-less-energy-than-existing-payment-systems/)",
    "[Stablecoins and the Future of Payments: Evidence from Financial Markets](https://www.imf.org/en/publications/wp/issues/2026/03/20/stablecoins-and-the-future-of-payments-evidence-from-financial-markets-574831), Working Paper No. 2026/052 , March 20, 2026",
    "[Financial Constraints and the Effectiveness of Green Financial Policies](https://www.imf.org/en/publications/wp/issues/2025/12/20/financial-constraints-and-the-effectiveness-of-green-financial-policies-572703), Working Paper No. 2025/269 , December 19, 2025",
    "[Evaluating the Implications of CBDC for Financial Stability](https://www.imf.org/en/publications/fintech-notes/issues/2025/11/12/evaluating-the-implications-of-cbdc-for-financial-stability-571743), Fintech Notes No 2025/008 , November 13, 2025",
    "[Tokenization and Financial Market Inefficiencies](https://www.imf.org/en/publications/fintech-notes/issues/2025/01/29/tokenization-and-financial-market-inefficiencies-561256), Fintech Notes No 2025/001 , January 29, 2025",
    "[Inelastic Demand Meets Optimal Supply of Risky Sovereign Bonds](https://www.imf.org/en/publications/wp/issues/2024/11/01/inelastic-demand-meets-optimal-supply-of-risky-sovereign-bonds-556853), Working Paper No. 2024/227 , November 1, 2024",
    "[Mitigating Climate Change at the Firm Level: Mind the Laggards](https://www.imf.org/en/publications/wp/issues/2023/11/22/mitigating-climate-change-at-the-firm-level-mind-the-laggards-541713), Working Paper No. 2023/242 , November 24, 2023",
    "[Derivative Margin Calls: A New Driver of MMF Flows](https://www.imf.org/en/publications/wp/issues/2023/03/17/derivative-margin-calls-a-new-driver-of-mmf-flows-530401), Working Paper No. 2023/061 , March 17, 2023",
    "[Digital Currencies and Energy Consumption](https://www.imf.org/en/publications/fintech-notes/issues/2022/06/07/digital-currencies-and-energy-consumption-517866), FinTech Notes No 2022/006 , June 7, 2022",
    "[Climate Policies at the Firm Level (2025), Annex XIII in Country Report No. 2025/028](https://www.imf.org/en/Publications/CR/Issues/2025/01/30/South-Africa-2024-Article-IV-Consultation-Press-Release-Staff-Report-and-Statement-by-the-561414)",
    "[Canada’s Climate Mitigation Policies (2024), Annex XII in Country Report No. 2024/228](https://www.imf.org/en/Publications/CR/Issues/2024/07/16/Canada-2024-Article-IV-Consultation-Press-Release-and-Staff-Report-551903#:~:text=Summary,per%20capita%20income%20has%20shrunk.)",
    "[Elements of Effective Policies for Crypto Assets (2023), IMF Policy Paper No 2023/004](https://prd-sitecore-cm.imf.org/en/Publications/Policy-Papers/Issues/2023/02/23/Elements-of-Effective-Policies-for-Crypto-Assets-530092?cid=pr-com-PPEA2023004)",
    "[Corporate Funding: Liquidity Strains Cushioned by a Powerful Set of Policies (2020), IMF October 2020 Global Financial Stability Report Chapter 3](https://www.imf.org/en/Publications/GFSR/Issues/2020/10/13/global-financial-stability-report-october-2020#Chapter3)",
    "[Corporate Sustainability: Firms’ Environmental Performance and the COVID-19 Crisis (2020), IMF October 2020 Global Financial Stability Report Chapter 5](https://www.imf.org/en/Publications/GFSR/Issues/2020/10/13/global-financial-stability-report-october-2020#Chapter5)",
    "[The Effect of Split-Ticket Voting Cost on Effective Enfranchisement (2024), Electoral Studies 87, 102736](https://www.sciencedirect.com/science/article/pii/S0261379423001580?dgcid=author#appSC)",
    "[Lessons from Crypto Assets for the Design of Energy Efficient Digital Currencies (2023), Ecological Economics 212, 107888](https://www.sciencedirect.com/science/article/pii/S0921800923001519?dgcid=coauthor)",
    "[IMF-FSB Synthesis Paper: Policies for Crypto-Assets (2023)](https://www.fsb.org/wp-content/uploads/R070923-1.pdf)",
    "[The Effect of Split-Ticket Voting Cost on Electoral Enfranchisement (2022), CAF Working Paper No 2022/24](https://scioteca.caf.com/handle/123456789/1991)"
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