Stefan Avdjiev
Economist
Monetary and Economic Department
Stefan Avdjiev is an Economist in the Financial Institutions group of the Monetary and Economic Department. He joined the BIS in September 2009 following the completion of his Ph.D. in Economics at Southern Methodist University with a dissertation that focused on the relationship between asset prices and macroeconomic fundamentals in the United States. During the course of his graduate studies, he conducted research at the Federal Reserve Bank of Dallas. The main research areas that he specialises in are Macroeconomics, Asset Pricing and International Finance. Since joining the BIS, he has worked extensively with the BIS international banking statistics with an emphasis on issues related to sovereign exposures at the banking system level and bank capital flows to emerging markets.
Fields of interest
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Macroeconomics
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International Finance
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Financial stability and macro-prudential issues
Selected Publications
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"Rapid Credit Growth and International Credit: Challenges for Asia," (with Robert McCauley and Patrick McGuire), in Victor Pontines and Reza Y. Siregar, eds., Exchange Rate Appreciation, Capital Flows and Excess Liquidity, pp. 215-244, The SEACEN Centre, 2012.
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"Sovereign creditworthiness and financial stability: an international perspective," (with Jaime Caruana), Banque de France Financial Stability Review, No. 16, April 2012.
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"Impact of Heterogeneous Managerial Productivity on Executive Hedge Markets in an Asymmetric Information Environment," (with Zheng Zeng), Finance Research Letters, 6, pp. 187-201, 2009.
