## German Villegas Bauer ## Source details **Canonical URL:** [German Villegas Bauer](https://www.imf.org/en/research/researcher-cv/author/villegas-bauer-german) ## Other formats - [Markdown version](/en/research/researcher-cv/author/villegas-bauer-german/index.md) - [Structured JSON version](/en/research/researcher-cv/author/villegas-bauer-german/index.json) - [Bundle manifest](/en/research/researcher-cv/author/villegas-bauer-german/bundle-manifest.json) ## Bibliographic details - Authors: German Villegas Bauer --- ### Biography 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. ### Profile ### Education - 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 ### Previous Experience - 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 ### Referee Activities - Journal of Political Economy ### Awards and Honors - 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 ### Teaching - 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 ### IMF Direct Blog Posts - [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/) ### IMF Publications ### IMF Books and Working Papers - [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 ### IMF Country Reports - [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.) ### Other Published Materials - [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) ### Non-IMF Publications ### Publications in Journals (Refereed) - [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) ### Other Published Materials - [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) --- _Source: https://www.imf.org/en/research/researcher-cv/author/villegas-bauer-german_