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 of Finance 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 Review
of Finance and 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.
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)
· "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)
· "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.)
· "The procyclical
effects of bank capital regulation" (with R. Repullo), October 2009. (Revised
version of "The Procyclical Effects of
· "Patent
litigation and the role of enforcement insurance" (with G. Llobet), July 2008. (Revised version of "Financing and
the protection of innovators," CEPR DP 4944, March 2005.)
· "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 and non-refereed publications
· "The Spanish Crisis: Background
and Policy Challenges",
CEPR DP 7909, July 2010. (The Spanish version of its foreword "Carta
abierta a los inversores internacionales"
was posted in Nada es Gratis,
· "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,
Recent participation in policy-oriented forums
· 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
·
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:
July 2010