Stefan Avdjiev

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Identifer

Contact

Affiliations

• Bank for International Settlements (BIS)
  • EDIRC entry
  • location:

Research profile

author of:

• The Dollar, Bank Leverage, and Deviations from Covered Interest Parity
  American Economic Review: Insights, American Economic Association (2019)
  by Stefan Avdjiev & Wenxin Du & Cathérine Koch & Hyun Song Shin
  (ReDIF-article, aea:aerins:v:1:y:2019:i:2:p:193-208)
• Sovereign creditworthiness and financial stability:an international perspective
  Financial Stability Review, Banque de France (2012)
  by Caruana, J. & Avdjiev, S.
  (ReDIF-article, bfr:fisrev:2011:16:07)
• International Credit To Emerging Market Economies During The Covid-19 Crisis
  Financial Stability Review, Banque de France (2021)
  by Stefan AVDJIEV & Bat-el BERGER & Hyun Song SHIN
  (ReDIF-article, bfr:fisrev:2021:24:7)
• Dollar funding costs during the Covid-19 crisis through the lens of the FX swap market
  BIS Bulletins, Bank for International Settlements (2020)
  by Stefan Avdjiev & Egemen Eren & Patrick McGuire
  (ReDIF-paper, bis:bisblt:1)
• Enhancements to the BIS international banking statistics
  IFC Bulletins chapters, Bank for International Settlements (2015)
  by Stefan Avdjiev & Patrick McGuire & Philip Wooldridge
  (ReDIF-chapter, bis:bisifc:39-33)
• IAG Reference document on Consolidation and corporate groups: an overview of methodological and practical issues
  IFC Reports, Bank for International Settlements (2015)
  by Stefan Avdjiev & Christian Dembiermont & Blaise Gadanecz & Branimir Gruić & Patrick McGuire & Swapan Kumar Pradhan & Paul Van den Bergh & Philip Wooldridge & Bruno Tissot & Marie-Céline Bard & Xavier-
  (ReDIF-paper, bis:bisifr:1)
• The euro area crisis and cross-border bank lending to emerging markets
  BIS Quarterly Review, Bank for International Settlements (2012)
  by Stefan Afdjiev & Zsolt Kuti & Elod Takáts
  (ReDIF-article, bis:bisqtr:1212f)
• CoCos: a primer
  BIS Quarterly Review, Bank for International Settlements (2013)
  by Stefan Avdjiev & Anastasia Kartasheva & Bilyana Bogdanova
  (ReDIF-article, bis:bisqtr:1309f)
• Cross-border bank lending during the taper tantrum: the role of emerging market fundamentals
  BIS Quarterly Review, Bank for International Settlements (2014)
  by Stefan Avdjiev & Elod Takáts
  (ReDIF-article, bis:bisqtr:1409g)
• Non-financial corporations from emerging market economies and capital flows
  BIS Quarterly Review, Bank for International Settlements (2014)
  by Stefan Avdjiev & Michael Chui & Hyun Song Shin
  (ReDIF-article, bis:bisqtr:1412h)
• Enhanced data to analyse international banking
  BIS Quarterly Review, Bank for International Settlements (2015)
  by Stefan Avdjiev & Patrick McGuire & Philip Wooldridge
  (ReDIF-article, bis:bisqtr:1509f)
• The ECB's QE and euro cross-border bank lending
  BIS Quarterly Review, Bank for International Settlements (2016)
  by Stefan Avdjiev & Agnė Subelytė & Előd Takáts
  (ReDIF-article, bis:bisqtr:1609h)
• Tracking the international footprints of global firms
  BIS Quarterly Review, Bank for International Settlements (2018)
  by Stefan Avdjiev & Mary Everett & Philip R Lane & Hyun Song Shin
  (ReDIF-article, bis:bisqtr:1803f)
• Following the imprint of the ECB's asset purchase programme on global bond and deposit flows
  BIS Quarterly Review, Bank for International Settlements (2019)
  by Stefan Avdjiev & Mary Everett & Hyun Song Shin
  (ReDIF-article, bis:bisqtr:1903g)
• International dimensions of EME corporate debt
  BIS Quarterly Review, Bank for International Settlements (2020)
  by Stefan Avdjiev & Patrick McGuire & Goetz von Peter
  (ReDIF-article, bis:bisqtr:2006b)
• Financial openness and inequality
  BIS Working Papers, Bank for International Settlements (2022)
  by Stefan Avdjiev & Tsvetana Spasova
  (ReDIF-paper, bis:biswps:1010)
• New spare tires: local currency credit as a global shock absorber
  BIS Working Papers, Bank for International Settlements (2024)
  by Stefan Avdjiev & John Burger & Bryan Hardy
  (ReDIF-paper, bis:biswps:1199)
• Stochastic Volatility, Long Run Risks, and Aggregate Stock Market Fluctuations
  BIS Working Papers, Bank for International Settlements (2010)
  by Stefan Avdjiev & Nathan Balke
  (ReDIF-paper, bis:biswps:323)
• News driven business cycles and data on asset prices in estimated DSGE models
  BIS Working Papers, Bank for International Settlements (2011)
  by Stefan Avdjiev
  (ReDIF-paper, bis:biswps:358)
• Rapid credit growth and international credit: Challenges for Asia
  BIS Working Papers, Bank for International Settlements (2012)
  by Stefan Avdjiev & Robert McCauley & Patrick McGuire
  (ReDIF-paper, bis:biswps:377)
• The Social Value of Policy Signals
  BIS Working Papers, Bank for International Settlements (2012)
  by Stefan Avdjiev & Patrick McGuire
  (ReDIF-paper, bis:biswps:386)
• Credit Growth, Monetary Policy, and Economic Activity in a Three-Regime TVAR Model
  BIS Working Papers, Bank for International Settlements (2014)
  by Stefan Avdjiev & Zheng Zeng
  (ReDIF-paper, bis:biswps:449)
• Breaking free of the triple coincidence in international finance
  BIS Working Papers, Bank for International Settlements (2015)
  by Stefan Avdjiev & Robert Neil McCauley & Hyun Song Shin
  (ReDIF-paper, bis:biswps:524)
• Monetary policy spillovers and currency networks in cross-border bank lending
  BIS Working Papers, Bank for International Settlements (2016)
  by Stefan Avdjiev & Elod Takats
  (ReDIF-paper, bis:biswps:549)
• International prudential policy spillovers: a global perspective
  BIS Working Papers, Bank for International Settlements (2016)
  by Stefan Avdjiev & Catherine Koch & Patrick McGuire & Goetz von Peter
  (ReDIF-paper, bis:biswps:589)
• The dollar, bank leverage and the deviation from covered interest parity
  BIS Working Papers, Bank for International Settlements (2016)
  by Stefan Avdjiev & Wenxin Du & Catherine Koch & Hyun Song Shin
  (ReDIF-paper, bis:biswps:592)
• External debt composition and domestic credit cycles
  BIS Working Papers, Bank for International Settlements (2017)
  by Stefan Avdjiev & Stephan Binder & Ricardo Sousa
  (ReDIF-paper, bis:biswps:627)
• The shifting drivers of global liquidity
  BIS Working Papers, Bank for International Settlements (2017)
  by Stefan Avdjiev & Leonardo Gambacorta & Linda Goldberg & Stefano Schiaffi
  (ReDIF-paper, bis:biswps:644)
• CoCo issuance and bank fragility
  BIS Working Papers, Bank for International Settlements (2017)
  by Stefan Avdjiev & Bilyana Bogdanova & Patrick Bolton & Wei Jiang & Anastasia Kartasheva
  (ReDIF-paper, bis:biswps:678)
• The dollar exchange rate as a global risk factor: evidence from investment
  BIS Working Papers, Bank for International Settlements (2018)
  by Stefan Avdjiev & Valentina Bruno & Catherine Koch
  (ReDIF-paper, bis:biswps:695)
• US monetary policy and fluctuations of international bank lending
  BIS Working Papers, Bank for International Settlements (2018)
  by Stefan Avdjiev & Galina Hale
  (ReDIF-paper, bis:biswps:730)
• Gauging procyclicality and financial vulnerability in Asia through the BIS banking and financial statistics
  BIS Working Papers, Bank for International Settlements (2018)
  by Stefan Avdjiev & Bat-el Berger & Hyun Song Shin
  (ReDIF-paper, bis:biswps:735)
• Transmission of monetary policy through global banks: whose policy matters?
  BIS Working Papers, Bank for International Settlements (2018)
  by Stefan Avdjiev & Catherine Koch & Patrick McGuire & Goetz von Peter
  (ReDIF-paper, bis:biswps:737)
• What drives local lending by global banks?
  BIS Working Papers, Bank for International Settlements (2018)
  by Stefan Avdjiev & Uluc Aysun & Ralf Hepp
  (ReDIF-paper, bis:biswps:746)
• Gross capital flows by banks, corporates and sovereigns
  BIS Working Papers, Bank for International Settlements (2018)
  by Stefan Avdjiev & Sebnem Kalemli-Ozcan & Luis Servén
  (ReDIF-paper, bis:biswps:760)
• Measuring contagion risk in international banking
  BIS Working Papers, Bank for International Settlements (2019)
  by Stefan Avdjiev & Paolo Giudici & Alessandro Spelta
  (ReDIF-paper, bis:biswps:796)
• Home sweet host: Prudential and monetary policy spillovers through global banks
  BIS Working Papers, Bank for International Settlements (2020)
  by Stefan Avdjiev & Bryan Hardy & Patrick McGuire & Goetz von Peter
  (ReDIF-paper, bis:biswps:853)
• Global and domestic financial cycles: variations on a theme
  BIS Working Papers, Bank for International Settlements (2020)
  by Iñaki Aldasoro & Stefan Avdjiev & Claudio Borio & Piti Disyatat
  (ReDIF-paper, bis:biswps:864)
• Regulatory capital, market capital and risk taking in international bank lending
  BIS Working Papers, Bank for International Settlements (2020)
  by Stefan Avdjiev & José María Serena Garralda
  (ReDIF-paper, bis:biswps:912)
• Bank opacity - patterns and implications
  BIS Working Papers, Bank for International Settlements (2022)
  by Stefan Avdjiev & Maximilian Jager
  (ReDIF-paper, bis:biswps:992)
• Home sweet host: A cross‐country perspective on prudential and monetary policy spillovers through global banks
  Review of International Economics, Wiley Blackwell (2021)
  by Stefan Avdjiev & Bryan Hardy & Patrick McGuire & Goetz von Peter
  (ReDIF-article, bla:reviec:v:29:y:2021:i:1:p:20-36)
• U.S. Monetary Policy and Fluctuations of International Bank Lending
  Santa Cruz Department of Economics, Working Paper Series, Department of Economics, UC Santa Cruz (2023)
  by Avdjiev, Stefan & Hale, Galina
  (ReDIF-paper, cdl:ucscec:qt8xv490v6)
• What drives local lending by global banks?
  Working Papers, University of Central Florida, Department of Economics (2017)
  by Uluc Aysun & Stefan Avdjiev & Ralf Hepp
  (ReDIF-paper, cfl:wpaper:2017-02)
• Gross Capital Flows by Banks, Corporates and Sovereigns
  Working Papers, CEMFI (2020)
  by Stefan Avdjiev & Bryan Hardy & Sebnem Kalemli-Özcan & Luis Servén
  (ReDIF-paper, cmf:wpaper:wp2020_2020)
• Gross Capital Inflows to Banks, Corporates and Sovereigns
  CEPR Discussion Papers, C.E.P.R. Discussion Papers (2017)
  by Kalemli-Özcan, Sebnem & Servén, Luis & Avdjiev, Stefan & Hardy, Bryan
  (ReDIF-paper, cpr:ceprdp:11806)
• The shifting drivers of global liquidity
  CEPR Discussion Papers, C.E.P.R. Discussion Papers (2017)
  by Gambacorta, Leonardo & Goldberg, Linda S. & Avdjiev, Stefan & Schiaffi, Stefano
  (ReDIF-paper, cpr:ceprdp:12127)
• CoCo Issuance and Bank Fragility
  CEPR Discussion Papers, C.E.P.R. Discussion Papers (2017)
  by Bolton, Patrick & Avdjiev, Stefan & Bogdanova, Bilyana & Jiang, Wei & Kartasheva, Anastasia
  (ReDIF-paper, cpr:ceprdp:12418)
• Bank opacity - patterns and implications
  CEPR Discussion Papers, C.E.P.R. Discussion Papers (2022)
  by Avdjiev, Stefan & Jager, Maximilian
  (ReDIF-paper, cpr:ceprdp:17024)
• Financial openness and inequality
  CEPR Discussion Papers, C.E.P.R. Discussion Papers (2022)
  by Avdjiev, Stefan & Spasova, Tsvetana
  (ReDIF-paper, cpr:ceprdp:17279)
• Regulatory arbitrage behavior of internationally active banks and global financial market conditions
  Economic Modelling, Elsevier (2022)
  by Avdjiev, Stefan & Aysun, Uluc & Tseng, Michael C.
  (ReDIF-article, eee:ecmode:v:112:y:2022:i:c:s0264999322001031)
• Impact of heterogeneous managerial productivity on executive hedge markets in an asymmetric information environment
  Finance Research Letters, Elsevier (2009)
  by Avdjiev, Stefan & Zeng, Zheng
  (ReDIF-article, eee:finlet:v:6:y:2009:i:4:p:187-201)
• Measuring contagion risk in international banking
  Journal of Financial Stability, Elsevier (2019)
  by Avdjiev, S. & Giudici, P. & Spelta, A.
  (ReDIF-article, eee:finsta:v:42:y:2019:i:c:p:36-51)
• The shifting drivers of global liquidity
  Journal of International Economics, Elsevier (2020)
  by Avdjiev, Stefan & Gambacorta, Leonardo & Goldberg, Linda S. & Schiaffi, Stefano
  (ReDIF-article, eee:inecon:v:125:y:2020:i:c:s0022199618301946)
• CoCo issuance and bank fragility
  Journal of Financial Economics, Elsevier (2020)
  by Avdjiev, Stefan & Bogdanova, Bilyana & Bolton, Patrick & Jiang, Wei & Kartasheva, Anastasia
  (ReDIF-article, eee:jfinec:v:138:y:2020:i:3:p:593-613)
• External debt composition and domestic credit cycles
  Journal of International Money and Finance, Elsevier (2021)
  by Avdjiev, Stefan & Binder, Stephan & Sousa, Ricardo
  (ReDIF-article, eee:jimfin:v:115:y:2021:i:c:s0261560621000267)
• Transmission of monetary policy through global banks: Whose policy matters?
  Journal of International Money and Finance, Elsevier (2018)
  by Avdjiev, Stefan & Koch, Cathérine & McGuire, Patrick & von Peter, Goetz
  (ReDIF-article, eee:jimfin:v:89:y:2018:i:c:p:67-82)
• What drives local lending by global banks?
  Journal of International Money and Finance, Elsevier (2019)
  by Avdjiev, Stefan & Aysun, Uluc & Hepp, Ralf
  (ReDIF-article, eee:jimfin:v:90:y:2019:i:c:p:54-75)
• U.S. monetary policy and fluctuations of international bank lending
  Journal of International Money and Finance, Elsevier (2019)
  by Avdjiev, Stefan & Hale, Galina
  (ReDIF-article, eee:jimfin:v:95:y:2019:i:c:p:251-268)
• U.S. Monetary Policy and Fluctuations of International Bank Lending
  Working Paper Series, Federal Reserve Bank of San Francisco (2018)
  by Stefan Avdjiev & Galina Hale
  (ReDIF-paper, fip:fedfwp:2018-02)
• U.S. Monetary Policy as a Changing Driver of Global Liquidity
  Liberty Street Economics, Federal Reserve Bank of New York (2017)
  by Stefan Avdjiev & Leonardo Gambacorta & Linda S. Goldberg & Stefano Schiaffi
  (ReDIF-paper, fip:fednls:87218)
• The shifting drivers of global liquidity
  Staff Reports, Federal Reserve Bank of New York (2017)
  by Stefan Avdjiev & Leonardo Gambacorta & Linda S. Goldberg & Stefano Schiaffi
  (ReDIF-paper, fip:fednsr:819)
• Cross-Border Prudential Policy Spillovers: How Much? How Important? Evidence from the International Banking Research Network
  International Journal of Central Banking, International Journal of Central Banking (2017)
  by Claudia M Buch & Linda S Goldberg
  (ReDIF-article, ijc:ijcjou:y:2017:q:1:a:1)
• International Prudential Policy Spillovers: A Global Perspective
  International Journal of Central Banking, International Journal of Central Banking (2017)
  by Stefan Avdjiev & Cathérine Koch & Patrick McGuire & Goetz von Peter
  (ReDIF-article, ijc:ijcjou:y:2017:q:1:a:18)
• Global and Domestic Financial Cycles: Variations on a Theme
  International Journal of Central Banking, International Journal of Central Banking (2023)
  by Iñaki Aldasoro & Stefan Avdjiev & Claudio Borio & Piti Disyatat
  (ReDIF-article, ijc:ijcjou:y:2023:q:5:a:2)
• Gross Capital Flows by Banks, Corporates and Sovereigns
  NBER Working Papers, National Bureau of Economic Research, Inc (2017)
  by Stefan Avdjiev & Bryan Hardy & Ṣebnem Kalemli-Özcan & Luis Servén
  (ReDIF-paper, nbr:nberwo:23116)
• The Shifting Drivers of Global Liquidity
  NBER Working Papers, National Bureau of Economic Research, Inc (2017)
  by Stefan Avdjiev & Leonardo Gambacorta & Linda S. Goldberg & Stefano Schiaffi
  (ReDIF-paper, nbr:nberwo:23565)
• CoCo Issuance and Bank Fragility
  NBER Working Papers, National Bureau of Economic Research, Inc (2017)
  by Stefan Avdjiev & Bilyana Bogdanova & Patrick Bolton & Wei Jiang & Anastasia Kartasheva
  (ReDIF-paper, nbr:nberwo:23999)
• The Risk Sensitivity of Global Liquidity Flows: Heterogeneity, Evolution and Drivers
  NBER Working Papers, National Bureau of Economic Research, Inc (2025)
  by Stefan Avdjiev & Leonardo Gambacorta & Linda S. Goldberg & Stefano Schiaffi
  (ReDIF-paper, nbr:nberwo:33674)
• Breaking free of the triple coincidence in international finance
  Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH (2016)
  by Stefan Avdjiev & Robert N. McCauley & Hyun Song Shin
  (ReDIF-article, oup:ecpoli:v:31:y:2016:i:87:p:409-451.)
• Gross Capital Flows by Banks, Corporates, and Sovereigns
  Journal of the European Economic Association, European Economic Association (2022)
  by Stefan Avdjiev & Bryan Hardy & Şebnem Kalemli-Özcan & Luis Servén
  (ReDIF-article, oup:jeurec:v:20:y:2022:i:5:p:2098-2135.)
• Monetary Policy Spillovers and Currency Networks in Cross-Border Bank Lending: Lessons from the 2013 Fed Taper Tantrum
  Review of Finance, European Finance Association (2019)
  by Stefan Avdjiev & Előd Takáts
  (ReDIF-article, oup:revfin:v:23:y:2019:i:5:p:993-1029.)
• The Dollar Exchange Rate as a Global Risk Factor: Evidence from Investment
  IMF Economic Review, Palgrave Macmillan;International Monetary Fund (2019)
  by Stefan Avdjiev & Valentina Bruno & Catherine Koch & Hyun Song Shin
  (ReDIF-article, pal:imfecr:v:67:y:2019:i:1:d:10.1057_s41308-019-00074-4)
• Code and data files for "News Driven Business Cycles and Data on Asset Prices in Estimated DSGE Models"
  Computer Codes, Review of Economic Dynamics (2014)
  by Stefan Avdjiev
  (ReDIF-software, red:ccodes:12-186)
• News Driven Business Cycles and Data on Asset Prices in Estimated DSGE Models
  Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2016)
  by Stefan Avdjiev
  (ReDIF-article, red:issued:12-186)
• External debt composition and domestic credit cycles
  Working Papers, European Stability Mechanism (2018)
  by Stefan Avdjiev & Stephan Binder & Ricardo Sousa
  (ReDIF-paper, stm:wpaper:28)
• Credit growth, monetary policy and economic activity in a three-regime TVAR model
  Applied Economics, Taylor & Francis Journals (2014)
  by Stefan Avdjiev & Zheng Zeng
  (ReDIF-article, taf:applec:v:46:y:2014:i:24:p:2936-2951)
• Gross capital flows by banks, corporates, and sovereigns
  Policy Research Working Paper Series, The World Bank (2018)
  by Avdjiev,Stefan & Hardy,Bryan James & Kalemli-Ozcan,Sebnem & Serven,Luis
  (ReDIF-paper, wbk:wbrwps:8514)
• Gauging Procyclicality and Financial Vulnerability in Asia through the BIS Banking and Financial Statistics
  World Scientific Book Chapters, World Scientific Publishing Co. Pte. Ltd. (2021)
  by Stefan Avdjiev & Bat-el Berger & Hyun Song Shin
  (ReDIF-chapter, wsi:wschap:9789811238628_0006)