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Stefan Avdjiev

Head of International Finance · Bank for International Settlements

Head of International Finance in the Monetary and Economic Department at the Bank for International Settlements, which he joined in 2009 after his PhD. Works on international finance and financial stability; CEPR Research Fellow.

2 papers tracked 2 classics ⌁ Follow this author

Showing 2 papers

Published Classic Published Dec 2017

Exchange rates and the transmission of global liquidity

Stefan Avdjiev · Cathérine Koch · Hyun Song Shin

Across four econometric approaches and up to 114 borrowing countries, a stronger international funding currency goes with less cross-border bank lending denominated in that currency: a one percentage …

Exchange Rates Capital Flows Banking Credit International Finance Free Read ↗

Published Classic American Economic Review: Insights Published Sep 2019

The Dollar, Bank Leverage, and Deviations from Covered Interest Parity

Stefan Avdjiev · Wenxin Du · Cathérine Koch · Hyun Song Shin

The strength of the US dollar, the size of covered interest parity deviations and the growth of dollar-denominated cross-border bank lending move together in what the authors call a triangular …

Exchange Rates International Finance Banking Credit Capital Flows Financial Frictions Risk Premia Free Read ↗