Miguel Sarmiento is Research Economist at the Financial Stability Department of the Banco de la República (the central bank of Colombia) and Fellow of the European Banking Center (EBC). His research areas are financial intermediation, financial stability and international macroeconomics. He is also undergraduate Professor of international economics at Universidad Externado de Colombia. He has been Visiting Researcher at the International Monetary Fund and the Graduate Institute of Geneva (Switzerland) and is member of the working group of the Consultative Council for the Americas and the Consultative Group of Directors of Financial Stability organized by the Bank for International Settlements (BIS) and the Financial Stability Board (FSB). He received his Ph.D. in Economics from Tilburg University (The Netherlands). He holds a M.Sc. in Economics from University of Illinois at Urbana-Champaign (USA) and a B.A. in Economics from Universidad Externado de Colombia. He has publications in refereed journals that include Journal of International Money and Finance, Journal of Banking and Finance, Journal of Financial Stability and Review of International Economics, among others.
The authors examine how liquidity is exchanged in different types of Colombian money market networks (ie, secured, unsecured and the central bank’s repurchase networks) as registered in the local financial market infrastructure.