Esteban is the assistant manager of the Risk Department at the Insurance National Institute of Costa Rica (INS). Previously, he held positions at Scotiabank and at the Central Bank of Costa Rica. He holds a master degree in financial analysis from the University of Chile as well as an MBA and a degree in economics from Universidad Latina de Costa Rica.
The authors introduce a simple numerical algorithm to study banking systems subject to credit risk. The algorithm is based on a model that is completely defined by only two parameters.