Economist
Federal Reserve Bank of Dallas

Enrique Martinez-Garcia, a native of Novelda, Spain, is an economist at the Federal Reserve Bank of Dallas. His main research interests lie in the fields of international macroeconomics and finance, monetary economics and applied econometrics. He has worked on a variety of topics, such as asset pricing, housing prices, portfolio allocation and exchange rate determination.

Martinez-Garcia’s work has focused on the development of open economy macroeconomic models to expand understanding of:

• the role of openness and nominal rigidities (as well as other frictions) on inflation dynamics,
• the behavior of financial and currency markets (with frictions) in hedging risks across countries and on exchange-rate puzzles, and
• the conduct of optimal monetary policy in the context of an open economy.

Prior to joining the Dallas Fed in July 2007, Martinez-Garcia worked as a teaching and research assistant at the University of Wisconsin–Madison and at the university’s Center for World Affairs and the Global Economy (WAGE). He also spent time at the Bank of England.

Martinez-Garcia holds a Ph.D. in economics from the University of Wisconsin–Madison, an M.A. in economics from the University of Pennsylvania and a B.A. in economics from the University of Alicante in Spain.

New Research Publications

• "A Model of the Exchange Rate with Informational Frictions," The B.E. Journal of Macroeconomics: Vol. 10 : Iss. 1 (Contributions), Article 2. A working paper version of this article appeared as Globalization and Monetary Policy Institute Working Paper no. 2, October 2007
   
• "Investment and Trade Patterns in a Sticky-Price, Open-Economy Model" (with Jens Søndergaard), in The Economics of Imperfect Markets. The Effect of Market Imperfections on Economic Decision-Making, edited by Giorgio Calcagnini and Enrico Saltari, Series: Contributions to Economics. Heidelberg: Springer (Physica-Verlag), December 2009. A working paper version of this article appeared as Globalization and Monetary Policy Institute Working Paper no. 28, January 2009
  
• "Functional Doctrine of Money. Germán Bernácer" (translated with María Teresa Martínez García), published by Caja de Ahorros del Mediterráneo and Universidad de Alicante Fundación General with the support of the Globalization and Monetary Policy Institute, June 2009. [This is an English translation of the revised second edition of "La Doctrina Funcional del Dinero", by Germán Bernácer Tormo, published by the Consejo Superior de Investigaciones Científicas, Instituto "Sancho de Moncada": Madrid, 1956.]

New Working Papers

     Open-Economy Macroeconomics

• "The Real Exchange Rate in Sticky Price Models: Does Investment Matter?" (with Jens Søndergaard), Globalization and Monetary Policy Institute Working Paper no. 17, July 2008
• "Technical Note on 'The Real Exchange Rate in Sticky Price Models: Does Investment Matter?'" (with Jens Søndergaard), Globalization and Monetary Policy Institute Working Paper no. 16, July 2008
• "Globalization and Monetary Policy: An Introduction," Globalization and Monetary Policy Institute Working Paper no. 11, April 2008
• "Monetary Policy in a Small Open Economy: The Cases of Spain and the U.K.," August 2005
  

     Monetary Policy and Finance

• "Systemic Risk, Banking Regulation and Optimal Monetary Policy" (with Ethan Cohen-Cole), November 2008