Publications

Scholarship, reports and policy writing. Pieces in Portuguese carry an English translation of the title.

Book chapters · Articles · Reports · Policy essays · Shorter pieces: see Blog · Work in progress: see Research

Book chapters

• O banco central do Brasil não está só: estabilidade e dominância monetária no direito brasileiro atual
  The Banco Central do Brasil Is Not Alone: Stability and Monetary Dominance in Current Brazilian Law
  in Rubia Carneiro Neves (org.), Novas Fronteiras do Sistema Financeiro Nacional, vol. 4 (Belo Horizonte: Expert, 2025), ch. 3, p. 139 Book (PDF, publisher)
• Planejamento de resolução: as recomendações internacionais e o regime brasileiro emergente
  Resolution Planning: The International Recommendations and the Emerging Brazilian Regime
  in Felipe Herdem Lima & Cristiane Rodrigues Iwakura (eds.), Novas Tendências do Sistema Financeiro Nacional (Londrina: Thoth, 2021), pp. 203–221 Full text · Book (publisher)

Articles

• O fim do 'privilégio exorbitante': comentários a Currency and State Power, de Benjamin J. Cohen
  The End of the 'Exorbitant Privilege': Comments on Benjamin J. Cohen's Currency and State Power
  Revista da Procuradoria-Geral do Banco Central, vol. 3, no. 2 (December 2009), pp. 49–61 Issue (PDF)
• Aspectos jurídicos dos mecanismos de compartilhamento monetário: currency board, união monetária e adoção de moeda estrangeira
  Legal Aspects of Currency-Sharing Mechanisms: Currency Boards, Monetary Union and the Use of a Foreign Currency
  Revista da Procuradoria-Geral do Banco Central, vol. 2, no. 2 (December 2008), pp. 179–197 Full text · Issue (PDF)
• O atual conceito de valor mobiliário
  The Current Concept of a Security
  Revista de Direito Mercantil, Industrial, Econômico e Financeiro, vol. 142 (April–June 2006), pp. 203–247

Reports (co-authored, International Monetary Fund)

• Turkey: Financial Sector Assessment Program — Financial Stability Assessment
  Nigel Jenkinson et al., IMF Country Report No. 17/35 (February 2017) PDF
• Financial Integration in Latin America
  Charles Enoch et al., IMF Staff Report (March 2016) PDF
• Luxembourg and EU Holding Company Challenges
  Ashok Bhatia et al., in IMF Country Report No. 15/145 (June 2015), p. 15 PDF

Policy essays

• Designing Dominance: The Digital Euro's Competition Law Problem
  Oxford Business Law Blog, 19 May 2026
• Hora de reformar a governança do Banco CentralPT
  Time to Reform the Central Bank's Governance
  Valor Econômico, 25 February 2026
• Trade Law Limits the Sovereign Reach of the Digital Euro
  ProMarket, 18 February 2026
• What Scottish Banknotes Can Teach Stablecoin Regulators
  Oxford Business Law Blog, 6 February 2026
• FGC, função pública e governança privada não combinamPT
  The FGC: Public Function and Private Governance Do Not Mix
  Valor Econômico, 20 January 2026

• How to Design CBDCs for an Open World Economy
  ProMarket, 18 December 2025
• Não se pode desperdiçar a crise do MasterPT
  The Master Crisis Must Not Go to Waste
  Valor Econômico (with Vicente Braga), 5 December 2025
• What Brazil’s Pix Reveals About WTO Rules for the Platform Economy
  ProMarket, 4 December 2025
• The Political Economy of Brazil’s Pix Payment System
  ProMarket, 3 December 2025
• Inadiável reforma da lei do sistema financeiroPT
  The Overdue Reform of the Financial System Law
  Valor Econômico, 12 November 2025
• Pix 2.0, entre inclusão e a concorrência globalPT
  Pix 2.0: Between Inclusion and Global Competition
  Valor Econômico, October 2025
• Brazil’s Pix and the Geopolitics of Digital Payments
  Modern Diplomacy, 17 September 2025
• Lastro bancário é armadilha das stablecoinsPT
  Bank Backing Is the Stablecoin Trap
  Valor Econômico, August 2025
• O processo administrativo sancionador e a eficiência do sistema financeiroPT
  Administrative Sanctioning Proceedings and the Efficiency of the Financial System
  Jota, 12 July 2025
• Poderes macroprudenciais para o BC, um avanço necessárioPT
  Macroprudential Powers for the Central Bank: A Necessary Step
  Valor Econômico, June 2025
• Banco Central, 60 anos, e o desafio de efetivar a dominância monetáriaPT
  The Central Bank at 60 and the Challenge of Making Monetary Dominance Effective
  Estadão, 17 June 2025
• FGC e resolução bancária: uma agenda para a próxima crisePT
  The FGC and Bank Resolution: An Agenda to Avoid the Next Crisis
  Valor Econômico, May 2025
• A tutela jurídica da estabilidade da moeda aos 60 anos do Banco CentralPT
  The Legal Protection of Monetary Stability at the Central Bank's 60th Anniversary
  Consultor Jurídico (Conjur), 10 April 2025

• Estrutura institucional dos bancos centrais: boas práticas e más concepçõesPT
  The Institutional Structure of Central Banks: Good Practices and Misconceptions
  Consultor Jurídico (Conjur), 1 May 2024
• Os objetivos múltiplos do Banco Central: como se articulam e se medemPT
  The Central Bank's Multiple Objectives: How They Fit Together and How They Are Measured
  Consultor Jurídico (Conjur), 23 March 2024
• PEC da autonomia do BC falha nas suas boas intençõesPT
  The Central Bank Autonomy Amendment Falls Short of Its Good Intentions
  Jota, 4 March 2024

• O Banco Central depois da LCP 179/2021: arcabouço legislativo e estrutura jurídicaPT
  The Central Bank after Complementary Law 179/2021: Statutory Framework and Legal Structure
  Jota, 17 May 2021

• De volta ao Proer ou rumo ao futuro?PT
  Back to Bail-Outs or Forward into the Future?
  Valor Econômico, 1 November 2017

• Os limites do CMN no mercado de derivativosPT
  Limits of the National Monetary Council in the Derivatives Market
  Valor Econômico, 5 October 2011
• O Comef e seu contextoPT
  The Financial Stability Committee and Its Context
  Valor Econômico, 7 July 2011

• Crise econômica e regulaçãoPT
  Economic Crisis and Regulation
  Advocef em Revista, November 2008
• Nova arquiteturaPT
  New Architecture (on reforming the international financial architecture)
  O Globo, 20 October 2008