← All authors Tobias Adrian International Monetary Fund (from arXiv:2508.00263, 2025) · ORCID · OpenAlex
81 papers in scope · 80 published · 3 on the econ.EM arXiv · 8,460 citations · h-index 30 (over the papers listed here)
Related authors The 20 authors closest to this one in our weighted citation graph, most related first.
Mike West Matteo Luciani Domenico Giannone Emily Tallman Tony Chernis Matthew C. Johnson Minzhengxiong Zhang Vladimir Rodríguez-Caballero Gian Pietro Bellocca Esther Ruiz Ignacio Garrón Gary Koop Kenichiro McAlinn Pilar Poncela Diego Fresoli Matteo Barigozzi Claudio Lissona G. Ricco Florian Huber Miguel C. Herculano Proximity is measured over citations between two papers we both hold, weighted by how heavily one leans on the other, and is symmetric — it does not distinguish citing from being cited. Authors without a profile here are skipped, and a genuinely close colleague can be missing simply because their work is not in our arXiv corpus. Method: docs/06-citations-pipeline.md .
Papers (3 of 81)
working paper 2026 · arXiv
published 2026 · Journal of Econometrics · first circulated 2025
with Yuya Sasaki, Yulong Wang
L’avenir de l’intelligence artificielle sur les marchés de capitaux
published 2025 · Revue d économie financière
with Benjamin Mosk, Jason Wu
US Treasury Market Functioning from the Global Financial Crisis to the Pandemic
published 2025 · Annual Review of Financial Economics
with Michael J. Fleming, Kleopatra Nikolaou
Trade Policy Uncertainty and Stock Market Tail Risk
published 2025 · Economics Letters · 1 citations
with Andrea Deghi, Mahvash Saeed Qureshi, Mustafa Yenice
published 2025 · Finance and Economics Discussion Series · 2 citations
Nonstandard Errors
published 2024 · The Journal of Finance · 96 citations
with Albert J. Menkveld, Anna Dreber, Felix Holzmeister, Jürgen Huber, Magnus Johannesson, Michael Kirchler, Sebastian Neusüss, Michael Razen, Utz Weitzel, David Abad-Díaz, Menachem Abudy, Yacine Aït-Sahalia, …
The US Banking Sector since the March 2023 Turmoil
published 2024 · Global Financial Stability Notes · 7 citations
with Nassira Abbas
Macro-Financial Stability in the COVID-19 Crisis: Some Reflections
published 2023 · Annual Review of Financial Economics · 22 citations · first circulated 2022
with Fabio M. Natalucci, Mahvash Saeed Qureshi
Trust Bridges and Money Flows
published 2023 · Fintech Notes · 3 citations
with Rodney Garratt, Dong He, Tommaso Mancini Griffoli
The Term Structure of Growth-at-Risk
published 2022 · American Economic Journal Macroeconomics · 102 citations · first circulated 2018
with Federico Grinberg, Nellie Liang, Sheheryar Malik, Jie Yu
The next evolution of digital money? It’s happening now
published 2022 · Knowable Magazine
Asset Purchases and Direct Financing: Guiding Principles for Emerging Markets and Developing Economies during COVID-19 and Beyond
published 2021 · Departmental Paper · 15 citations
with Christopher J. Erceg, Simon Gray, Ratna Sahay
East Asian Regional Cooperation Network and China’s Path Choice
published 2021 · Social Sciences in China · 1 citations
Central Banks and Digital Currencies
published 2021 · Liberty Street Economics · 62 citations
with Michael Junho Lee, Tommaso Mancini-Griffoli, Antoine Martin
no link
A leverage-based measure of financial stability
published 2021 · Journal of Financial Intermediation · 7 citations · first circulated 2018
with Karol Jan Borowiecki, Alexander Tepper
MULTIMODALITY IN MACROFINANCIAL DYNAMICS
published 2021 · International Economic Review
Digitalization of cross-border payments
published 2021 · China Economic Journal · 43 citations
Low for Long" and Risk-Taking
published 2020 · Departmental Paper
Intraday market making with overnight inventory costs
published 2020 · Journal of Financial Markets · 9 citations · first circulated 2017
NKV: A New Keynesian Model with Vulnerability
published 2020 · AEA Papers and Proceedings · 19 citations
with Fernando Duarte, Nellie Liang, Pawel Zabczyk
Forecasting Macroeconomic Risks
published 2020 · International Journal of Forecasting
The Rise of Digital Money
published 2019 · Fintech Notes · 158 citations
with Tommaso Mancini Griffoli, Tommaso Mancini-Griffoli
Nonlinearity and Flight‐to‐Safety in the Risk‐Return Trade‐Off for Stocks and Bonds
published 2019 · The Journal of Finance · 156 citations · first circulated 2015
Vulnerable Growth
published 2019 · American Economic Review · 675 citations
Global Price of Risk and Stabilization Policies
published 2019 · IMF Economic Review · 1 citations
with Daniel Stackman, Erik Vogt
Liquidity, Leverage, and Regulation 10 Years After the Global Financial Crisis
published 2018 · Annual Review of Financial Economics · 39 citations
with John Kiff, Hyun Song Shin
Risk‐taking channel of monetary policy
published 2018 · Financial Management · 59 citations
with Arturo Estrella, Hyun Song Shin
Risk Management and Regulation
published 2018 · Departmental Paper · 8 citations · first circulated 2017
Money, Transformed Monetary Policy: In the Digital Age
published 2018 · Finance & development · 2 citations
Shadow Banking and Market-Based Finance
published 2018 · Departmental Paper · 62 citations
with Bradley Jones
Shadow Banking: Financial Intermediation beyond Banks
published 2018 · Chapters in SUERF Studies · 1 citations
with Edouard Chrétien, Michael Chui, Saskia de Vries-van Ewijk, Christoph Fricke, Daniel Fricke, Seppo Honkapohja, Jiasun Li, Victor Lyonnet, Stan Maes, Patrizio Morganti, Danièle Nouy, Giorgio Nuzzo, …
no link
Market Liquidity After the Financial Crisis
published 2017 · Annual Review of Financial Economics · 154 citations
with Michael J. Fleming, Or Shachar, Erik Vogt
Liquidity policies and systemic risk
published 2017 · Journal of Financial Intermediation · 21 citations · first circulated 2013
with Nina Boyarchenko
Fintech and Financial Services
published 2017 · Staff Discussion Notes · 56 citations
Dealer Balance Sheets and Corporate Bond Liquidity Provision
published 2017 · Journal of Monetary Economics · 131 citations · first circulated 2016
with Nina Boyarchenko, Or Shachar
A buen recaudo: la regulación financiera internacional ayuda a garantizar la seguridad y solidez de sistemas financieros diversos
published 2017 · Finanzas y desarrollo: publicación trimestral del Fondo Monetario Internacional y del Banco Mundial
with Aditya Narain
no link
Decomposing real and nominal yield curves
published 2016 · Journal of Monetary Economics · 10 citations
Forecasting Interest Rates over the Long Run
published 2016 · Liberty Street Economics
no link
CoVaR
published 2016 · American Economic Review · 2334 citations · first circulated 2009
with Markus K. Brunnermeier
Corporate Bond Market Liquidity Redux: More Price-Based Evidence
published 2016 · Liberty Street Economics · 2 citations
with Michael J. Fleming, Erik Vogt, Zachary Wojtowicz
no link
Continuing the Conversation on Liquidity
published 2016 · Liberty Street Economics
with Michael J. Fleming, Ernst Schaumburg
no link
Did Third Avenue's Liquidation Reduce Corporate Bond Market Liquidity?
published 2016 · Liberty Street Economics
with Michael J. Fleming, Erik Vogt, Zachary Wojtowicz
no link
Financial Stability Monitoring
published 2015 · Annual Review of Financial Economics · 105 citations · first circulated 2013
with Daniel M. Covitz, Nellie Liang, J. Nellie Liang
Regression-based estimation of dynamic asset pricing models
published 2015 · Journal of Financial Economics · 25 citations · first circulated 2012
Discounting the Long-Run
published 2015 · Liberty Street Economics · 1 citations
no link
Redemption Risk of Bond Mutual Funds and Dealer Positioning
published 2015 · Liberty Street Economics · 4 citations
with Michael J. Fleming, Or Shachar, Erik Vogt
no link
Has Liquidity Risk in the Corporate Bond Market Increased
published 2015 · Liberty Street Economics · 5 citations
with Michael J. Fleming, Or Shachar, Daniel Stackman, Erik Vogt
no link
What's Driving Dealer Balance Sheet Stagnation?
published 2015 · Liberty Street Economics · 3 citations
with Michael J. Fleming, Daniel Stackman, Erik Vogt
no link
Has Liquidity Risk in the Treasury and Equity Markets Increased
published 2015 · Liberty Street Economics · 3 citations
with Michael J. Fleming, Daniel Stackman, Erik Vogt
no link
Has U.S. Treasury Market Liquidity Deteriorated
published 2015 · Liberty Street Economics · 1 citations
with Michael J. Fleming, Daniel Stackman, Erik Vogt
no link
Changes in the Returns to Market Making
published 2015 · Liberty Street Economics · 1 citations
with Michael J. Fleming, Or Shachar, Daniel Stackman, Erik Vogt
no link
Introduction to a Series on Market Liquidity
published 2015 · Liberty Street Economics · 1 citations
with Michael J. Fleming, Ernst Schaumburg
no link
Introduction to a Series on Market Liquidity: Part 2
published 2015 · Liberty Street Economics
with Michael J. Fleming, Ernst Schaumburg
no link
Financial Intermediaries and the Cross‐Section of Asset Returns
published 2014 · The Journal of Finance · 830 citations · first circulated 2011
with Erkko Etula, Tyler Muir
Treasury Term Premia: 1961-Present
published 2014 · Liberty Street Economics · 9 citations
no link
Liquidity Risk, Liquidity Management, and Liquidity Policies
published 2014 · Liberty Street Economics
with João A. C. Santos
no link
Comments on Eric Girardin, Sandrine Lunven and Guonan Ma's paper
published 2014 · BIS Papers chapters
no link
Procyclical Leverage and Value-at-Risk
published 2013 · Review of Financial Studies · 571 citations · first circulated 2011
with Hyun Song Shin
Dealer Balance Sheet Capacity and Market Liquidity during the 2013 Selloff in Fixed Income Markets
published 2013 · FEDS Notes · 30 citations
with Jonathan Goldberg, Fabio M. Natalucci, Michael J. Fleming, Morgan Lewis, Jason Wu
Pricing the term structure with linear regressions
published 2013 · Journal of Financial Economics · 67 citations · first circulated 2011
Do Treasury Term Premia Rise around Monetary Tightenings
published 2013 · Liberty Street Economics · 8 citations
no link
Which Financial Frictions? Parsing the Evidence from the Financial Crisis of 2007 to 2009
published 2013 · NBER Macroeconomics Annual · 289 citations
with Paolo Colla, Hyun Song Shin
The Recent Bond Market Selloff in Historical Perspective
published 2013 · Liberty Street Economics · 3 citations
with Michael J. Fleming
no link
Property prices, inflation, and policy challenges in Hong Kong
published 2013 · BIS Papers chapters · 1 citations
no link
Shadow Banking Regulation
published 2012 · Annual Review of Financial Economics · 68 citations
with Adam B. Ashcraft
Shadow Banking
published 2012 · Revue d économie financière · 202 citations · first circulated 2010
with Adam B. Ashcraft, Hayley Boesky, Zoltan Pozsar, Péter Breuer, Nicola Cetorelli, Haley Boesky
Financial Intermediary Balance Sheet Management
published 2011 · Annual Review of Financial Economics · 99 citations
with Hyun Song Shin
Financial amplification of foreign exchange risk premia
published 2011 · European Economic Review · 20 citations · first circulated 2010
with Erkko Etula, Jan J. J. Groen
Comment
published 2011 · NBER Macroeconomics Annual · 1 citations
with Erkko Etula
The Changing Nature of Financial Intermediation and the Financial Crisis of 2007–2009
published 2010 · Annual Review of Economics · 351 citations
with Hyun Song Shin
Macro Risk Premium and Intermediary Balance Sheet Quantities
published 2010 · IMF Economic Review · 136 citations
with Emanuel Moench, Hyun Song Shin
Money, Liquidity, and Monetary Policy
published 2009 · American Economic Review · 152 citations
with Hyun Song Shin
Learning about beta: Time-varying factor loadings, expected returns, and the conditional CAPM
published 2009 · Journal of Empirical Finance · 168 citations · first circulated 2003
with Francesco A. Franzoni
Disagreement and Learning in a Dynamic Contracting Model
published 2009 · Review of Financial Studies · 56 citations · first circulated 2007
with Mark M. Westerfield
Liquidity and leverage
published 2008 · Journal of Financial Intermediation · 470 citations
with Hyun Song Shin
Stock Returns and Volatility: Pricing the Short‐Run and Long‐Run Components of Market Risk
published 2008 · The Journal of Finance · 457 citations · first circulated 2005
with Joshua V. Rosenberg
Inference, arbitrage, and asset price volatility
published 2008 · Journal of Financial Intermediation · 10 citations · first circulated 2004
Monetary tightening cycles and the predictability of economic activity
published 2007 · Economics Letters · 44 citations
with Arturo Estrella
The degree of openness and the cost of fixing exchange rate
published 2004 · Economics Letters · 2 citations
with Daniel Gros
A stochastic model of self-fulfilling crises in fixed exchange rate systems
published 1999 · International Journal of Finance & Economics · 9 citations
with Daniel Gros
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