José Luis Peydró

José Luis Peydró

Universitat Pompeu Fabra

Social & Behavioural Sciences

Peydró is ICREA Professor at UPF and CREI, Professor at Barcelona GSE, CEPR Research Fellow, Bundesbank Research Professor, advisor of Bank of Spain, consultant in several central banks, and independent board member at Institut Català de les Finances (ICF). He was member of the advisory scientific committee at the European Systemic Risk Board and held visiting positions at Banque de France, Becker Friedman Institute at Chicago University, MIT-Sloan, IMF and World Bank. Peydró is recipient of an ERC Consolidator grant, a ECB Wim Duisenberg Fellowship, a senior Houblon-Norman Fellowship (Bank of England), three MINECO grants and a Fundación BBVA grant. Peydró teaches at Barcelona GSE and Imperial College. As of December 2020, Peydró is number 4 in the world in research impact for economists who finished their PhD in 2005 and number 1 over the last 10 years for Spanish economists (in Spain or abroad) based on Research Papers in Economics (RePEc) data.


Research interests

Peydró specializes in Finance and Macroeconomics, mainly on systemic risk, financial crises, endogenous risk, central bank policies, monetary and prudential policy, financial globalization, financial contagion, financial innovation, macroeconomics and credit markets, banking, fintech, capital and liquidity. He is also working on the effects of financial distress on households' welfare. 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 on finance (Review of Financial Studies, Journal of Finance, and Journal of Financial Economics). He has also co-written the book Systemic Risk, Crises and Macroprudential Policy (MIT Press, 2015) and several book chapters such as in the Oxford Handbook of Banking (OUP, 2009) or in Finance and Investment: The European Case, (OUP, 2018). 

Selected publications

- Jiménez G, Mian A, Peydró JL & Saurina J 2020, 'The real effects of the bank lending channel', Journal of Monetary Economics, vol. 115, pp. 162-179.     

- Bubeck J, Maddaloni, A & Peydró JL 2020, 'Negative monetary policy rates and systemic banks' risk-taking: Evidence from the Euro Area securities register', Journal of Money Credit and Banking, vol. 52, no. S1, pp. 97-231. 

- Akin O, Marín JM & Peydró JL 2020, 'Anticipating the financial crisis: Evidence from insider trading in banks', Economic Policy, vol. 35, no. 102, pp. 213-267. 

- Peydró JL 2020, 'El papel de la banca pública y privada en la crisis del COVID19' in Á. de la Fuente Moreno, T. Roldán, J.F. Jimeno (cords.), La economía española en tiempos de pandemia: Una primera aproximación, pp. 719-731, Barcelona: Editorial Debate (e-book). ISBN 9788418006944. 


Selected research activities

  • Keynote speeches: Banco de Chile and XXXV Jornadas Anuales de Economía (Banco de Uruguay)
  • Panellist at the Bank of England Conference on Macro and Household Credit
  • NBER discussion in Industrial Organization and in International Macro
  • European Bank for Reconstruction and Development (EBRD): Contributor to the Transition Report 2020-21: The State Strikes Back
  • Associate editor: Financial ManagementJournal of Financial Stability; SERIEs (Journal of the Spanish Economic Association); Revista de Estabilidad Financiera (Bank of Spain)
  • Teaching: Florence School of Banking & Finance; Central Bank of Chile; Imperial College BS; Barcelona GSE-UPF
  • Advising: PhD theses defended in 2020 by K. Liaudinskas (placement: Norges Bank) and W. Scherrieble (placement: Bundesbank)