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S.J.D. Candidate
iorellanagarci at


Rethinking the Constitutional Architecture of Monetary Sovereignty

My dissertation explores how constitutional law shapes monetary and financial systems.  My working hypothesis is that, akin to constitutional allocations of legislative, executive, and judicial authority, constitutions also assign legally binding authority to decide over (i) the legal configuration of money, (ii) the control of the money supply, and (iii) the allocation of money, the three basic functions comprising the exercise of monetary governance.  In the process, constitutions mediate the tension between public and private monetary powers inherent to financial systems.  Many modern constitutions currently distribute such authority among different public and private actors –legislatures, executives, independent central banks, and commercial financial institutions–, subject to intricate systems of checks and balances.  To the extent money is an instrument of power, this is an exercise in separation of powers.  A coherent constitutional monetary sovereignty framework should therefore account for the central tenets of the separation of powers principle, including its institutional design tools and the plurality of values which it seeks to articulate.  Through this lens, my dissertation seeks to analyze the constitutional design implications of recent proposals for public banking; public savings and payment platforms; monetary finance; and reformed central bank mandates, tools and accountability mechanisms.

Fields of Research and Supervisors

  • Functions and Regulation of Monetary and Financial Institutions with Professor Howell E. Jackson, Harvard Law School, Principal Faculty Supervisor
  • Political Economy of Money with Professor Christine A. Desan, Harvard Law School
  • Comparative Constitutional Law with Professor Vicki C. Jackson, Harvard Law School

Additional Research Interests

  • Monetary and Fiscal Policy
  • History of Capitalism
  • Corporate Governance
  • Administrative Law
  • Antitrust Law


  • Harvard Law School, S.J.D. Candidate 2022 – Present
  • Harvard Law School, LL.M. 2019
  • Pontificia Universidad Católica de Chile, Licenciado en Derecho 2014

Academic Appointments and Fellowships

  • Harvard Law School, Spring 2024, Teaching Fellow, Constitutional Law: Money and the Making of American Capitalism
  • Harvard Law School, 2023-2024, Graduate Program Fellow, Law Teaching Colloquium Coordinator
  • Harvard Law School, 2022-2024, Graduate Program Fellow, LLM Writing Workshop Advisor
  • Pontificia Universidad Católica de Chile, 2009-2018, Teaching assistant, Economic Law
  • Pontificia Universidad Católica de Chile, 2010-2018, Teaching assistant, Constitutional Law
  • Pontificia Universidad Católica de Chile, 2012-2018, Teaching assistant, Private Law

Representative Publications

  • Ignacio Orellana García, Market Manipulation in the Age of Machines: An Analysis of Two Trading Strategies, in José Manuel Martínez Sierra (ed.), Blockchain, Fintech and the Law (Tirant Lo Blanch, 2022)
  • Ignacio Orellana García ¿Cuánto es suficiente? Separación de funciones, proporcionalidad y criterios de graduación de sanciones administrativas a propósito de la potestad sancionatoria del Consejo Nacional de Televisión, in Sentencias Destacadas 2021 (Ediciones LyD, 2022)

Additional Information

  • Languages: English (fluent), Spanish (native), French (basic), German (basic)

Last Updated: June 21, 2024