Martin Tobal serves as Director of the Macrofinancial Risk Analysis Directorate at Banco de México, an area focused on preparing analytical material for the Monetary Policy Committee meetings and for the central bank’s Financial Stability Report. He holds a Ph.D. in Economics from the University of California, San Diego (UCSD), an MA and a BA, both with honors, from the University of Valencia, Spain, and a BA with honors from the University of Nantes, France. Previously, he worked as Manager of the Real Sector Research Analysis Unit at Banco de México, as an advisor to the Chief Economist of the central bank, as a Senior Economist in the International Affairs Unit, and as Deputy Manager of the Macroeconomics Research Department at the Center for Latin American Monetary Studies (CEMLA). He has published research papers in peer-reviewed journals such as the Journal of International Economics, the Journal of Development Economics, the American Economic Journal: Economic Policy, and the International Journal of Central Banking, in the areas of international macrofinance, international trade, and banking. His contributions cover topics including the effects of service offshoring on wages, the welfare implications of intra-industry trade, banking competition, currency mismatches and financial stability, and the effects of capital flows on monetary policymaking in emerging market economies.