Julian Caballero

Julián Caballero

Senior Economist

Monetary and Economic Department, International Data Hub

Julián joined the BIS in 2019. Previously he worked as a research economist at the Inter-American Development Bank in Washington DC. His research focuses on international finance, international banking and empirical corporate finance. He holds a PhD in economics from the University of California, Santa Cruz.

Fields of interest

International finance
Financial markets
Finance

All BIS publications (10)

BIS Working Paper No 1303 18 Nov 2025

FX debt and optimal exchange rate hedging

This paper examines optimal foreign currency (FX) hedging by non-financial corporations globally. Using a cross-country, firm…

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Julián Caballero

and

BIS Bulletin No 99

BIS Bulletin No 99 27 Feb 2025

How far can digital innovation improve credit to small firms in emerging market economies?

Small and medium-sized enterprises (SMEs) in emerging market economies struggle to access credit, partly due to firms' short…

Julián Caballero

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Sebastian Doerr

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and

Fabrizio Zampolli

BIS Bulletin No 94

BIS Bulletin No 94 10 Oct 2024

Evidence of nearshoring in the Americas?

Key takeawaysTrade and geopolitical tensions have coincided with a shift in US imports away from China towards other countries…

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Julián Caballero

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and

Alejandro Parada

BIS Bulletin No 81

BIS Bulletin No 81 13 Dec 2023

Interest rate risk of non-financial firms: who hedges and does it help?

Natural language text analysis of 80,000 company financial statements published by 14,000 non-financial firms in the euro area,…

Ryan Niladri Banerjee

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Julián Caballero

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Enisse Kharroubi

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and

Interest rate risk management by EME banks

Publication 18 Sep 2023

Interest rate risk management by EME banks

Banks' management of interest rate risk depends on their business model as well as the environment in which they operate.

Julián Caballero

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Philip Wooldridge

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BIS Working Paper No 1081 8 Mar 2023

What happens to EMEs when US yields go up?

This paper explores why some episodes of US yield increases result in investor retrenchment from emerging markets and others do…

Julián Caballero

and

Christian Upper

BIS Working Paper No 1080 7 Mar 2023

Did interest rate guidance in emerging markets work?

This paper studies the experience of emerging markets with explicit interest rate guidance during 2020-2021. Despite some…

Julián Caballero

and

Blaise Gadanecz

The internationalisation of EME currency trading

Publication 5 Dec 2022

The internationalisation of EME currency trading

The participation of non-residents in foreign exchange (FX) markets for emerging market economy (EME) currencies has increased…

Julián Caballero

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Philip Wooldridge

and

BIS Working Paper No 879 24 Aug 2020

Corporate dollar debt and depreciations: all's well that ends well?

This paper explores the effect of depreciations on investment when firms hold foreign currency debt. The paper employs a novel…

Julián Caballero

All external publications (12)

External publication 1 Mar 2016

Do surges in international capital inflows influence the likelihood of banking crises?

Julián Caballero

External publication 14 Feb 2015

Bank capital shock propagation via syndicated interconnectedness

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Vladyslav Sushko

and

Julián Caballero

External publication 1 Jan 2015

Banking crises and financial integration: insights from networks science

Julián Caballero

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