Anil's interests include Macroeconomics, Sovereign Debt Crises and Financial Economics.
Abstract of Anil's job market paper:
Abstract: In European countries recently hit by a sovereign debt crisis, the share of domestic sovereign debt held by the national banking system has sharply increased, raising concerns about economic and financial resilience, as well as policy design. This paper addresses these issues by analyzing the banking equilibrium in a model with optimizing banks and depositors. Under-capitalized banks in default-risky countries have an incentive to gamble on domestic sovereign bonds. The optimal reaction by depositors to bank insolvency risk imposes discipline, but also leaves the economy susceptible to self-fulfilling shifts in sentiments. In a bad equilibrium, sovereign risk shocks lead to a prolonged period of financial fragility and a persistent drop in output. The model is quantified using Portuguese data and generates similar dynamics to the observed behaviour of the Portuguese economy during the debt crisis. Policy interventions face a trade-off between alleviating funding constraints and strengthening incentives to gamble. Liquidity provision to banks eliminates the good equilibrium when not targeted. Targeted interventions have the capacity to eliminate adverse equilibria.
Career: Anil Ari will be joining the International Monetary Fund as an Economist in September 2017.
Teodora Boneva is a British Academy Post-doctoral fellow at the University College London (Department of Economics). Her general research interests include human capital formation, labour, consumption and socio-economic inequality. Her current research focuses on the evolution of preferences and skills, the role of feedback in the skill accumulation process and the role of beliefs in educational investment decisions. She is particularly interested in how interventions, be it in the school, home or work environment, can promote skill development and improve life outcomes.
Jasmine's research interests lie in Macro Finance.
Abstract of Jasmine's job market paper:
Alexandre is an Assistant Professor in Economics at the Institute for International Economic Studies, Stockholm University. His research seeks to combine Information Economics with Macroeconomics and Finance. He is especially interested in the optimal design of communication policies.
Irina's research interests are in Development Economics, Labour Economics, and Microeconometrics
Riccardo Trezzi, holds a BA in Economics from Bocconi University, a Master of Arts from the University of Pavia, a Master degree in Economics from the University of Warwick and a PhD in Economics from the University of Cambridge. He has worked for the United Nations in Morocco, the World Bank Group in Washington DC and in 2014 he has been appointed as an Economist at the Board of Governors of the Federal Reserve Bank in Washington DC. His research interests lies in the broad areas of Applied Macroeconomics and Public Finance.