Stefan Avdjiev is a Senior Economist and Deputy Head of International Banking and Financial Statistics. He joined the BIS in September 2009 upon completion of his PhD in Economics. Prior to assuming his current position, he worked as an Economist in the Financial Institutions unit and Financial Markets group of the BIS Monetary and Economic Department. He has conducted research in macroeconomics, asset pricing and international finance. His current research is primarily focused on issues related to international capital flows and financial stability.
Fields of interest
- International finance
- Financial stability and macroprudential issues
|Date||BIS research papers|
BIS Quarterly Review December 2014
BIS Quarterly Review September 2014
Other authors: Előd Takáts
BIS Working Papers No 449
Other authors: Zheng Zeng
BIS Quarterly Review September 2013
BIS Quarterly Review December 2012
BIS Working Papers No 386
BIS Working Papers No 377
Measuring the vulnerability of emerging market economies to sudden capital withdrawals through the banking system
BIS Quarterly Review December 2011
BIS Working Papers No 358
BIS Quarterly Review September 2011
- "Monetary policy spillovers and currency networks in cross-border bank lending: lessons from the 2013 Fed Taper Tantrum" (with E Takáts), Review of Finance, forthcoming. Also published as BIS Working Papers, no 549.
- " International prudential policy spillovers: a global perspective" (with C Koch, P McGuire and G von Peter), International Journal of Central Banking, vol 13(S1), 2017, pp 5-33. Also published as BIS Working Papers, no 589.
- " News driven business cycles and data on asset prices in estimated DSGE models", Review of Economic Dynamics, vol 20, April 2016, pp 181-97. Also published as BIS Working Papers, no 358.
- " Breaking free of the triple coincidence in international finance" (with R McCauley and H S Shin), Economic Policy, vol 31, issue 87, July 2016, pp 409-51. Also published as BIS Working Papers, no 524.
- " Credit growth, monetary policy, and economic activity in a three-regime TVAR model" (with Z Zeng), Applied Economics, vol 46, no 24, May 2014, pp 2936-51. Also published as BIS Working Papers, no 449.
- " Rapid credit growth and international credit: challenges for Asia" (with R McCauley and P McGuire), in V Pontines and R Siregar (eds), Exchange rate appreciation, capital flows and excess liquidity: adjustment and effectiveness of policy responses, The SEACEN Centre, August 2012, pp 215-44. Also published as BIS Working Papers no 377.
- " Sovereign creditworthiness and financial stability: an international perspective" (with J Caruana), Bank of France, Financial Stability Review, no 16, April 2012.
- " Impact of heterogeneous managerial productivity on executive hedge markets in an asymmetric information environment" (with Z Zeng), Finance Research Letters, vol 6, 2009, pp 187-201.