Jorge Ponce is Head of the Economic Research Department at Banco Central del Uruguay. Previously he was Head of the Financial Stability Department. Jorge is also Professor of Economics and Finance at Universidad de la República in Uruguay and Reserach Fellow of the Agencia Nacional de Investigación e Innovación. He holds a Master degree in International Economics from Universidad de la República, a Master degree in Financial Markets and Intermediaries and a Ph.D. in Economics from the Toulouse School of Economics. His academic production has been published in the Journal of Financial Intermediation, the Journal of Financial Stability, the Journal of Banking and Finance, the Journal of Financial Services Research, Economic Systems and Monetaria among other scientific publications. In 2008 he won the Raúl Trajtenberg prize to the best young economist in Uruguay.