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Macroprudential Policy, Countercyclical Bank Capital Buffers, and Credit Supply: Evidence from the Spanish Dynamic Provisioning Experiments (with G. Jiménez, S. Ongena and J. Saurina)
Journal of Political Economy, 125 (6), 2017, 2126-2177. DOI. 

‘In the Short Run Blasé, in the Long Run Risqué’. On the Effects of Monetary Policy on Bank Credit Risk-Taking in the Short versus Long Run (with S. Ongena and G. Jiménez)
Schmalenbach Business Review, 18 (3), 2017, 181-226. DOI. 

Systemic Risk, Crises, and Macroprudential Regulation (with X. Freixas and L. Laeven), MIT Press, 2015. DOI. Vox column.

BOOK CHAPTERS

El papel de la banca (pública y privada) en la crisis del COVID-19 in Á. de la Fuente Moreno, T. Roldán, & J.F. Jimeno (Eds.), La economía española en tiempos de pandemia: una primera aproximación (719-731). Editorial Debate, 2020.

Securities Trading and Lending in Banks (with A. Polo and A. Sette) in C. Mayer, S. Micossi, M. Onado, M. Pagano, & A. Polo (Eds.), Finance and Investment: The European Case (363-372). Oxford University Press, 2018. Book chapter (Pdf) 

Outreach: VoxEU · Watch video presentations by Polo et al. · Book cited in the European Investment Bank Report 2018/2019 · Book cited in Wikipedias’s entry ‘Capital Markets Union’

Systemic Risk in Banking after the Great Financial Crisis (with O. de Bandt and P. Hartmann) in A. Berger, P. Molyneux & J.O.S Wilson (Eds.), The Oxford Handbook of Banking, Oxford Handbooks in Finance (2nd ed., 633-672). Oxford University Press, 2015.

The Credit Channel of Monetary Policy in the Euro Area (with A. Maddaloni), in H. Badinger & V. Nitsch (Eds.), Routledge Handbook of the Economics of European Integration (132-142). Routledge, 2015.

Five Years of Crisis (resolution) – Some Lessons (with T. Beck) in R. Baldwin & F. Giavazzi (Eds.) The Eurozone Crisis: A Consensus View of the Causes and a Few Possible Solutions (63-71). CEPR Press, 2015. Read the chapter on VoxEU

Interbank Markets as a Source of Contagion (with R. Iyer) in R. Kolb (Ed.), Financial Contagion: The Viral Threat to the Wealth of Nations, Kolb Series in Finance: Essential Perspectives (321-324). John Wiley & Sons, Inc., 2011. 

Loose Monetary Policy and Excessive Credit and Liquidity Risk-taking by Banks (with S. Ongena) in T. Beck (Ed.), The Future of Banking (21-28). CEPR Press, 2011. Read a VoxEU column.

Systemic Risk in Banking: An Update (with O. de Bandt and P. Hartmann) in A. Berger, P. Molyneux & J.O.S Wilson (Eds.), The Oxford Handbook of Banking, Oxford Handbooks in Finance (633-672). Oxford University Press, 2009.

Short biography

Peydró is ICREA Professor at UPF and CREI, Professor at Barcelona School of Economics, Bundesbank Research Professor, CEMFI and CEPR Research Fellow, advisor of Bank of Spain, consultant in the European Central Bank, European Bank Authority and European Investment Bank, independent board member at Institut Català de Finances (ICF), and Member of the Group of Economic Advisers of the European Security Markets Authority (ESMA). He was board member at the European Systemic Risk Board and held visiting positions at Becker-Friedman Institute at Chicago University, MIT, IMF and World Bank. Peydró has had an ERC Consolidator grant until December 2021. 

As of December 2021, based on RePEc (Research Papers in Economics, main ranking for academic economists) Peydró is number 5 in the world for economists who finished their PhD in 2005, and, over the last 10 years, number 5 in the European Union and number 1 for economists in Spain or Spanish economists abroad.

Research interests

Peydró specializes in Finance and Macroeconomics, mainly on banking, financial crises, systemic risk, monetary policy, macroprudential policy, globalization, financial contagion, financial innovation, credit, fintech, networks, capital and liquidity. His recent work analyzes credit/finance and (i) political radicalization, (ii) inequality, (iii) climate risk, (iv) digital economy, (v) negative interest rates, (vi) rise of shadow banks and fintech, (vii) fiscal policy and taxes, (viii) state-owned banks, (ix) financial and production networks and (x) COVID crisis. His research has more than 10,000 citations. His research has been published in the top-5 journals in Economics: Econometrica (lead article), American Economic Review and Journal of Political Economy, and in the top-3 journals in Finance (Review of Financial Studies, Journal of Finance, and Journal of Financial Economics). He has also written the book Systemic Risk, Crises and Macroprudential Policy (MIT Press).

• Posts by Prof. Peydró in VOX, CEPR policy portal
• Posts by Prof. Peydró in Economics blog Nada es gratis
• World Bank Blog All about Finance

Misc. writings

• Peydró, J.-L. (2015). ‘Financial Crises: Benefits and Fiscal Costs of Banking and Monetary Policies‘ in IEB Report on Supranational Policies to Overcome the Crisis, 4, 7-8.
• Peydró, J.-L. (2013). Credit Cycles and Systemic Risk, Els Opuscles del CREI, 35.
• Peydró, J.-L. (2013). Comment on ‘Risk Heterogeneity and Credit Supply: Evidence from the Mortgage Market,’ in D. Acemoglu, K. Rogoff & M. Woodford (Eds.), NBER Macroeconomics Annual 2012, 27, Chicago University Press, 420-428.
• Peydró, J.-L. (201o). Discussion of “The Effects of Bank Capital on Lending: What Do We Know, and What Does It Mean?” International Journal of Central Banking: Special Issue on The Theory and Practice of Macroprudential Regulation, 6(4), 55-70.
• Ioannidou, V., Peydró, J.-L. & Ongena, S. (2008). The Impact of Short-Term Interest Rates on Risk-Taking: Hard Evidence in C. Reinhart & A. Felton (Eds.), The First Global Financial Crisis of the 21st Century, 34-37. CEPR Press. Read the chapter on VoxEU.

• ERC project Debt and Persistence of Financial Shocks [Twitter]
• Catalan Institution for Research and Advanced Studies (ICREA)
• Universitat Pompeu Fabra, Department of Economics and Business 
• Barcelona Graduate School of Economics (Barcelona GSE) 
• Centre for Economic Policy Research (CEPR) 
• European Central Bank (ECB)
• European Systemic Risk Board (ESRB) 
• Bank of Spain, Financial Stability 
• Institut Català de Finances (ICF) 
• Deutsche Bundesbank (research) 

Banking Summer School · Systemic Risk and Prudential Policy Course et al at Barcelona GSE