CV (July 2023)
Bryan Hardy
CONTACT INFORMATION
Email: Bryan.Hardy@bis.org
Personal Website: https://sites.google.com/site/bryanhardyeconomics/
PROFESSIONAL POSITIONS
Economist, Bank for International Settlements, Aug 2018-present
Short Term Consultant, World Bank, May 2015-Dec 2015, May 2018-June 2018
EDUCATION
Ph.D. Economics, University of Maryland at College Park, 2018
M.A. Economics, University of Maryland at College Park, 2014
B.S. Mathematics and Economics, Brigham Young University, 2012
RESEARCH INTERESTS
International Finance, Corporate Finance, Banking, Emerging Markets, Macroeconomics
PUBLICATIONS
“Gross Capital Flows by Banks, Corporates and Sovereigns” with Stefan Avdjiev, Sebnem Kalemli-Özcan, and Luis Servén, Journal of the European Economic Association (2022). Also published as NBER Working Paper 23116, CEPR Discussion Paper 11806, BIS Working Paper 760 (with link to data)
"The Janus Face of Bank Geographic Complexity", with Iñaki Aldasoro and Maximilian Jager, Journal of Banking and Finance (2022). Also published as BIS Working Paper 858
"Financial Crisis and Innovation", with Can Sever, European Economic Review (2021). Also published as BIS Working Paper 846
"Home Sweet Host: A Cross-country Perspective on Prudential and Monetary Policy Spillovers through Global Banks", with Stefan Avdjiev, Patrick McGuire, and Goetz von Peter, Review of International Economics (2020). Also published as BIS Working Paper 853
WORKING PAPERS
“Foreign Currency Borrowing, Balance Sheet Shocks, and Real Outcomes” BIS working paper No 758, Resubmitted
“From Carry Trades to Trade Credit: Financial Intermediation by Non-Financial Corporations” with Felipe Saffie, NBER Working Paper 31183, BIS Working Paper 773, Revise and Resubmit
"Who Holds Sovereign Debt and Why It Matters", with Xiang Fang and Karen Lewis, NBER Working Paper 30087, CEPR Discussion Paper 17338, BIS Working Paper, Resubmitted
"Sovereign Risk and Bank Lending: Evidence from 1999 Turkish Earthquake", with Soner Baskaya, Sebnem Kalemli-Ozcan, and Vivian Yue, NBER Working Paper 22335, BIS Working Paper 1093, submitted
"Economic Stabilizers in Emerging Markets: The Case for Trade Credit", with Felipe Saffie and Ina Simonovska [PDF]
"Trade Credit and Exchange Rate Risk Pass Through", with Felipe Saffie and Ina Simonovska, NBER Working Paper 31078
"Innovation Convergence", with Can Sever, BIS Working Paper 1108
OTHER PUBLICATIONS
"Covid, central banks and the bank-sovereign nexus", with Sonya Zhu, BIS Quarterly Review, March 2023
"Bank funding: evolution, stability and the role of foreign offices", with John Caparusso, BIS Quarterly Review, September 2022
"Russia's pre-war position in the international banking system", with John Caparusso, BIS Quarterly Review, June 2022
"Covid-19 policy measures to support bank lending", with Catherine Casanova and Mert Onen, BIS Quarterly Review, September 2021
"Corporate debt: Post-GFC through the Pandemic", with Iñaki Aldasoro and Nikola Tarashev, BIS Quarterly Review, June 2020
"Covid-19 bank dividend payout restrictions: effects and trade-offs", BIS Bulletin No 38
"International banking amidst Covid-19: Resilience and drivers", with Elöd Tákáts, BIS Quarterly Review, December 2020
"Banks through Covid-19", BIS Quarterly Review, September 2020
"Effects of Covid-19 on the banking sector: the market's assessment", with Iñaki Aldasoro, Ingo Fender, and Nikola Tarashev, BIS Bulletin No 12
"Assessing global liquidity: beyond borders", IFC Bulletin No 51
"The evolution of OTC interest rate derivatives markets", with Torsten Ehlers, BIS Quarterly Review, December 2019
"Non-bank counterparties in international banking", with Pablo Garcia-Luna, BIS Quarterly Review, September 2019
“Emerging Markets' reliance on foreign bank credit”, BIS Quarterly Review, March 2019
WORK IN PROGRESS
"Local Firms, Global Shocks", with Stefan Avdjiev and John Burger
"Corporate Dollar Debt", with Laura Alfaro and Julian Caballero
"Capital and Convergence", with Can Sever
CONFERENCE AND SEMINAR PRESENTATIONS
2023: NBER-CBC Conference, Dutch State Treasury Agency, BdI-ECB-World Bank Conference
2022: NBER-FLAR-Colombia Central Bank Conference, CES-ifo Area Conferences (Global Economy; Macro, Money, and International Finance), CEPR ESSIM, Midwest Macro, Japan Graduate Institute for Policy Studies (GRIPS), EEA Congress
2021: AFFI (French Finance Association), Arab Committe on Banking Supervision annual meeting, IBRN
2020: 1st EMME Workshop (canceled, Covid-19); WEAI/IBEFA conference; OECD-ADBI Roundtable on Capital Market and Financial Reforms in Asia
2019: IMF/CBOC/IMFER Conference; February IBRN Meeting; July IBRN Meeting
2018: U.S. Treasury OCC; Federal Reserve Bank of Dallas; Federal Reserve Board of Governors; Bank for International Settlements
2017: International Atlantic Economic Conference, NBER Summer Institute (coauthor presented); Brigham Young University; FDIC
2016: BYU Economics Graduate Student Conference
TEACHING
Instructor, Economic Development of Underdeveloped Areas (undergraduate), University of Maryland, Fall 2017, Spring 2018
Instructor, Globalization and Capital Markets (undergraduate), University of Maryland, Spring 2015
Instructor, Theory of Economic Development (undergraduate), University of Maryland, Summer 2014
PROFESSIONAL SERVICE
Referee – American Economic Review, Journal of International Economics, American Economic Journal: Macroeconomics, Management Science, Journal of Money, Credit, and Banking, Journal of International Money and Finance, Review of International Economics, Review of World Economics, IMF Economic Review
Conference committees – 2019 BIS-CGFS Workshop, 2021 IADI Research Conference, 2022 CGFS-BCBS Workshop, 2023 BIS-CGFS Workshop
GRANTS AND AWARDS
Melvin J. Ulmer Graduate Fellowship in Economics, University of Maryland 2014-2015
Graduate Assistantship, University of Maryland, 2012-2018