J a v i e r S u a r e z
Professor of Banking and Finance
CEMFI - Casado del Alisal 5 - 28014 Madrid - Spain
Phone: +34 914290551 - Fax: +34 914291056 - E-mail: suarez@cemfi.es CV in PDF
Doctoral
studies
Ph.D. in Economics, Universidad Carlos III
de Madrid, 1991-1994.
Current positions
Full Professor at CEMFI.
Research Fellow of the Center for Economic Policy Research (CEPR).
Research Associate of the European Corporate Governance Institute (ECGI).
Associate
editor of the Journal of the European Economic Association
Previous positions
Postdoctoral fellow,
Lecturer in Economics at the
Member of the Financial Markets Group of the LSE, 1994-1996.
Research Affiliate of the CEPR, 1996-2001.
Assistant Professor at CEMFI, 1996-2001.
Associate Professor at CEMFI, 2001-2004.
Associate
editor of the Review of Finance, 2003-2009.
Swiss
Finance Institute Visiting Professor at the University of
Visiting
Scholar at the Federal Reserve Bank of
Teaching
Corporate Finance, Banking.
Current research
Corporate finance, financial contracts,
credit cycles, venture capital, banking theory, banking regulation.
Selected research papers
(highlighted
papers can be downloaded in pdf format)
A. Published or
accepted for publication in refereed journals (reverse chronological order)
·
"Patent litigation and
the role of enforcement insurance" (with G. Llobet), August
2011, forthcoming in Review of Law & Economics. (Revised version of "Financing and the protection of
innovators", CEPR DP 4944, March 2005.)
·
"A Pigovian approach to liquidity regulation" (with
·
"The Spanish crisis: Background and policy challenges", Moneda y Crédito, 232
(2011), 151-192.
·
"Deposit insurance and money market
freezes" (with M. Bruche), Journal of Monetary Economics, 57 (2010), 45-61. (A previous version circulated
under the title "The macroeconomics of money market freezes".)
·
"Social contacts and occupational choice" (with
·
"Firms'
stakeholders and the costs of transparency" (with A. Almazan and S. Titman), Journal of Economics and Management Strategy, 18 (2009), 871-900.
·
"Financial
distress, bankruptcy law, and the business cycle" (with O. Sussman), Annals of Finance, 3 (1) (2007), 5-35.
·
"Incomplete wage posting" (with C. Michelacci), Journal of Political Economy, 114 (6) (2006), 1098-1123.
·
"Loan pricing under Basel capital requirements" (with R. Repullo), Journal of Financial Intermediation, 13 (4) (2004), 496-521.
·
"Venture
capital finance: A security design approach" (with R. Repullo), Review of Finance, 8
(2004), 75-108.
·
"Business creation and the stock market" (with C. Michelacci), Review of Economic Studies, 71 (2) (2004), 459-481.
·
"Entrenchment and severance pay in optimal governance
structures" (with A.
Almazan), Journal of Finance, 58 (2) (2003), 519-548.
·
"Managerial compensation and the market reaction to bank loans" (with A. Almazan), Review of Financial Studies, 16 (1) (2003), 237-261.
·
"Last bank standing: What do I gain if you fail?" (with E. Perotti), European Economic Review, 46 (09) (2002),
1599-1622.
·
"Entrepreneurial moral hazard and bank monitoring: A model of the
credit channel" (with R.
Repullo), European Economic Review, 44 (10) (2000), 1931-1950.
·
"Financial distress and the business cycle" (with O. Sussman), Oxford Review of Economic Policy, 15 (3) (1999), 39-51.
·
"Risk-taking and the prudential regulation of banks", Investigaciones
Económicas, 22 (1998),
307-336.
·
"Monitoring, liquidation, and security design" (with R. Repullo), Review of Financial Studies, 11 (1998), 163-187. Reprinted in
·
"Endogenous
cycles in a Stiglitz-Weiss economy" (with O. Sussman), Journal of Economic Theory, 76 (1997), 47-71. Reprinted in B. Biais and M. Pagano (eds.), New
Research in Corporate Finance and Banking,
B. Unpublished (reverse
chronological order)
·
"Dynamic
maturity transformation" (with A. Segura), November 2011.
(Revised version of "Liquidity shocks, roll-over risk and debt
maturity," CEPR DP 8324, April 2011.)
·
"A macroeconomic model of
endogenous systemic risk taking" (with D. Martínez-Miera), mimeo,
CEMFI, October 2011.
·
"Interest rates and
credit risk" (with C. González-Aguado), CEPR DP 8398, May 2011.
·
"The
procyclical effects of bank capital regulation" (with R. Repullo), October 2009. (Revised version of
"The Procyclical Effects of
·
"Entrepreneurial
innovation, patent protection, and industry dynamics" (with G. Llobet), May 2009. (Revised version of
"Financially constrained innovation, patent protection, and industry
dynamics", RICAFE WP 052, January 2008.)
·
"Hot and cold housing markets: International evidence" (with J. Ceron), CEPR DP 5411, January 2006.
·
"Closure rules, market power and risk-taking in a dynamic model of
bank behavior", LSE
Financial Markets Group DP 196, November 1994. (Retyped version of the
original manuscript, with new pagination.)
Policy papers, non-refereed publications and other writings (reverse
chronological order)
·
"A three-pillar solution to the Eurozone crisis", VOX column 6874,
·
"Discussion
of: Procyclicality of capital requirements in a general equilibrium model of
liquidity dependence", International Journal of Central Banking 6(4) (2010), 175-186.
·
"Liquidity
insurance for systemic crises" (with
·
"La gestión de los
problemas de confianza en tiempos de crisis sistémica" (in
Spanish), Perspectivas del
Sistema Financiero, 95 (2009), 1-17.
·
"Bringing money markets back to life", VOX column 2411,
·
"The need for an emergency bank debt insurance mechanism", CEPR Policy Insight 19, March
2008. (A summary of this piece appeared as VOX column 1013,
Participation in policy-oriented forums in years 2009-2011 (reverse
chronological order)
·
Workshop on
"Liquidity Regulation", Federal Reserve Board,
·
Panel on "Crisis
Resolution in Financial Institutions and Countries", 38th Annual Meeting of the European Finance
Association,
·
XXIII Symposium Moneda
y Crédito: The Way Out of the World Recession: Policy Strategies and
Trade-Offs", Fundación Banco
·
CEPR Conference on
"The Future of Regulatory Reform", Grocers’ Hall,
·
DNB/UvA Workshop on
Preventive Macro Prudential Instruments, De Nederlandsche Bank,
·
Roundtable on the
Macroeconomic Impact of Strengthened Capital and Liquidity Requirements, Macroeconomic Assessment Group, Bank for
International Settlements, Basel, 17 May 2010.
·
World Bank training
hub on "Macro-Financial Policies", Joint
·
Roundtable to discuss
contingent capital and systemic resolution levies, HM Treasury,
·
Seminar on "The procyclical
effects of bank capital regulation", DG Internal Market and Services, European Commission,
·
DNB/UvA/IMF Workshop
on Concrete Macro-Prudential Tools, De Nederlandsche Bank,
·
Desayuno de Redacción: "El sistema financiero
mundial tras la crisis", Cinco Días, Madrid, 12 November 2009. [Media coverage, in Spanish]
·
Seminario de Discusión Económica y Financiera:
"Supervisión Macroprudencial" , Banco de España, Madrid, 11
November 2009. Comments to presentation by Claudio Borio.
·
10th Bank of
Finland/CEPR Conference on "Credit Crunch and the Macroeconomy",
·
BCBS/CGFS roundtable
on Systemic Liquidity Risk, Bank of France,
Paris,
·
ECB / DG ECFIN
(European Commission) Workshop "The Crisis: Impact so Far and Possible
Lessons", European Central Bank,
·
Bernácer Conference
"The future of central banking: Lessons from the genesis and management of
the crisis", Banco de
España,
·
CFS Research
Conference on "A New Supervisory Architecture for
·
CEPR-NCAER Conference
on "
·
2009 International
Conference "Financial System and Monetary Policy Implementation", Bank of
·
37th Economics
Conference "Beyond the Crisis: Economic Policy in a New Macroeconomic
Environment", Oesterreichische
Nationalbank,
Recent participation in externally funded research teams and networks (reverse chronological
order)
·
Regional Comparative Advantage and Knowledge-Based
Entrepreneurship (RICAFE2), funded by the European Commission (RCIT5-CT-2006-028942), 2006-2008.
·
The Economics of
Intermediation: Real, Financial and Regulatory Aspects, funded by Spanish Ministry of Education and
Science (SEJ2005-08875), 2005-2008.
·
European
Corporate Governance Training Network (ECGTN), funded by the European Commission (MRTM-CT-2003-504799),
2005-2007.
·
Risk Capital and the Financing of European Innovative
Firms (RICAFE), funded by the
European Commission (HPSE-CT-2002-00140), 2003-2005.
·
Capital and Risk in Banking, funded by the Spanish Ministry of Education and
Science (BEC2002-03034), 2002-2005.
·
Understanding
Financial Architecture, funded by the
European Commission (HPRN-CT-2000-00064), 2000-2004.
Awards and scholarships
CEMFI MSc Scholarship (1989-1991),
CEMFI Prize to the Best Student of the Class (1991), Pre-doctoral grant from
the Spanish Ministry of Education (1992), Research grant from Fundación BBVA
(1993).
V Premio Fundación Banco Herrero (2006) (5th Fundacion Banco Herrero Prize for
researchers younger than 40 years old in the fields of economics, business, and
social research).
Useful links
Finance
Site List
Social Science Research Network
VoxEU.org
Updated: January 2012