Stefan Avdjiev

Head of International Finance

Monetary and Economic Department

Stefan.Avdjiev@bis.org

Stefan Avdjiev joined the BIS in 2009, immediately after the completion of his PhD in economics. Prior to assuming his current position, he was an Adviser for Financial Stability (between 2020 and 2024), leading the work on all BIS contributions and deliverables to the G20 and to the Financial Stability Board. Before that, he was the Deputy Head of International Banking and Financial Statistics (between 2014 and 2020) and an Economist in the Financial Institutions and the Financial Markets groups of the BIS Monetary and Economic Department (between 2009 and 2014). His recent research has mainly focused on international finance and financial stability. He has also conducted and published research in macroeconomics and asset pricing. Stefan's work has been published in leading academic journals, including the Journal of Financial Economics, American Economic Review: Insights and the Journal of International Economics. Stefan is a CEPR Research Fellow.

Fields of interest

International finance
Macroeconomics
Financial stability and macro-prudential issues

All BIS publications (36)

BIS Working Paper No 549 17 Mar 2016

Monetary policy spillovers and currency networks in cross-border bank lending

We demonstrate that currency networks in cross-border bank lending have a significant impact on the size, distribution and…

and

BIS Working Paper No 524 20 Oct 2015

Breaking free of the triple coincidence in international finance

The traditional approach to international finance is to view capital flows as the financial counterpart to savings and…

,

Robert N McCauley

and

IFC Report No 2 14 Oct 2015

An IAG reference document - Consolidation and corporate groups: an overview of methodological and practical issues

This reference document builds on the outcome of the workshop organised in 2011 by the IAG and the Irving Fisher Committee on…

,

Christian Dembiermont

,

Blaise Gadanecz

,

Branimir Gruić

,

Patrick McGuire

,

Swapan-Kumar Pradhan

,

Paul Van den Bergh

,

Philip Wooldridge

,

,

Marie-Céline Bard

,

Xavier-Yves Zanota

,

Patrick Sandars

,

Pietro Franchini

,

Stéphane Mahieu

,

,

Catherine Lezon

,

Evrim Bese Goksu

,

,

,

Peter van de Ven

,

and

Anna Maria Agresti

Publication 13 Sep 2015

Enhanced data to analyse international banking

,

Patrick McGuire

and

Philip Wooldridge

BIS Working Paper No 449 4 Jun 2014

Credit growth, monetary policy, and economic activity in a three-regime TVAR model

BIS Working Papers No 449: We employ a threshold vector autoregression (TVAR) methodology in order to examine the nonlinear…

and

BIS Working Paper No 386 4 Sep 2012

The Social Value of Policy Signals

BIS Working Papers No 386

,

Patrick McGuire

and

Nikola Tarashev

BIS Working Paper No 377 12 Apr 2012

Rapid credit growth and international credit: challenges for Asia

Abstract of BIS Working Papers No 377

,

Robert N McCauley

and

Patrick McGuire

BIS Working Paper No 358 7 Nov 2011

News driven business cycles and data on asset prices in estimated DSGE models

Abstract of BIS Working Papers No 358

BIS Working Paper No 323 26 Oct 2010

Stochastic Volatility, Long Run Risks, and Aggregate Stock Market Fluctuations

Abstract of BIS Working Papers No 323

and

All external publications (38)

External publication 1 Apr 2012

Sovereign creditworthiness and financial stability: an international perspective

and

External publication 1 Dec 2009

Impact of heterogeneous managerial productivity on executive hedge markets in an asymmetric information environment

and

All videos (1)

00:01:45

Following the imprint of the ECB's asset purchase programme on global bond and deposit flows

Video 15 Mar 2019

Following the imprint of the ECB's asset purchase programme on global bond and deposit flows

Tracing the imprint of the ECB's expanded asset purchase programme (APP) on international bond portfolios and euro-denominated…

By

You might also be interested in

Publications

Speeches

Media releases