Research Page

I am a Senior Adviser at the Bank of England. I studied Economics at Cardiff (MSc), Cambridge (PhD, 13') and Princeton (Visiting), and Mathematics at King's College London (Diploma, 15').  As for my hobbies, I enjoy playing the piano and am an International Chess Master.

I am director of the CCBS-MacCaLM macro-finance research workshop (2022 edition; 2021 edition; 2019 edition; 2018 edition2017 edition). 

Contact: gabor.pinter [at] bankofengland.co.uk; IDEAS; Twitter; Google Scholar; LinkedIn

Research Interest: Macroeconomics, Finance, Applied Econometrics

Work in Progress:

"Heterogeneous Inflation Expectations and Market Dynamics" (with Taisiya Sikorskaya) 

"Accounting for Long-term Macro Finance Trends" (with Vedanta Dhamija)

"Trading Inflation" (with Rodrigo Barria)

"Star Charities, Director Networks and Firm Performance" (with Saleem Bahaj, Andy Blake, Angus Foulis, Andy Haldane and Jagdish Tripathy)

Working Papers:

"An Anatomy of the 2022 Gilt Market Crisis"

 Presentations: 2022 BoE

"Fiscal-Monetary Interactions: Pre-Announcement Liquidity Effects After Bond Issuance" (with Dong Lou and Semih Üslü)

 Presentations: 2021 BoE, 2nd ECB-BoE-BoJ Joint Research Workshop 2022

Revisions requested at the Journal of Financial Economics

"Comparing Search and Intermediation Frictions Across Markets" (with Semih Üslü)

 Presentations: Richmond Fed 2021, FIFI 2021, BoE Macro-Finance Workshop 2021, NYU Stern/Salomon Microstructure 2022, NFA 2022, 6th SAFE Conference, 7th Steve Ross Prize Conference, AFA 2023

"Size Discount and Size Penalty: Trading Costs in Bond Markets" (with Chaojun Wang and Junyuan Zou)  Presentations: NYU Stern/Salomon Microstructure 2021,  EFA 2021, AFA 2022, CICF 2022

Revisions requested at the Review of Financial Studies 

"Information Chasing vs Adverse Selection" (with Chaojun Wang and Junyuan Zou) Presentations: WSIR-2021, EFA 2021, FIRS 2021, Texas Finance 2021, AFA 2022

"What Drives Repo Haircuts? Evidence from the UK Market" (with Christian Julliard, Karamfil Todorov and Kathy Yuan)

"Informed Trading and the Dynamics of Client-Dealer Connections in Corporate Bond Markets" (with Robert Czech); Presentations: 2021 FutFinInfo, 2021 Adam Smith Workshop, 2021 MFA, 2021 RES

"Risk Premium Shocks"; Shortlisted for Best Paper Award at the 2021 Frontiers of Factor Investing Conference

Published and Accepted Papers:  

"Inflation and Uncertainty in New Keynesian Models: A Note"

Economics Letters, 2022

"Clients' Connections: Measuring the Role of Private Information in Decentralized Markets" (with Peter Kondor)

Journal of Finance, 2022

"Collateral Channels and Banking Relationships" (with Gareth Anderson, Matthieu Chavaz, Saleem Bahaj and Angus Foulis)

Review of Finance, 2022

"Employment and the Collateral Channel of Monetary Policy" (with Saleem Bahaj, Angus Foulis and Paolo Surico);

Journal of Monetary Economics, 2022

"The Procyclicality of Inflation-Linked Debt"

Economics Letters, 2022

"Home Values and Firm Behaviour" (with Saleem Bahaj and Angus Foulis)

American Economic Review, 2020; Link to Bank Underground post, 

Companion paper with a structural model: "The Residential Collateral Channel: A General Equilibrium Analysis"

"House Prices and Job Losses"

The Economic Journal, 2019; Link to WSJ coverage, Link to Bank Underground post 

"What do VARs Tell us about the Impact of a Credit Supply Shock?" (with Haroon Mumtaz and Kostas Theodoridis)

International Economic Review, 2018

"Capital over the Business Cycle: Renting versus Ownership" (with Peter N Gal)

Journal of Money, Credit and Banking, 2017; Winner of the Best Student Paper Award, Cambridge Finance, 2012; Link to Vox

"Do Contractionary Monetary Policy Shocks Expand Shadow Banking?" (with Ben Nelson and Kostas Theodoridis)

Journal of Applied Econometrics, 2017; Link to WSJ; Link to Vox; Link to World Economic Forum

"Forecasting with VAR Models: Fat tails and Stochastic Volatility" (with Jeremy Chiu and Haroon Mumtaz)

International Journal of Forecasting, 2017

Other papers and projects on hold:

"Monetary Transmission Mechanism in the East African Community: An Empirical Investigation" (with H Davoodi and S Dixit) IMF Working Paper 13/39, 2013

"Macroprudential Capital Regulation in General Equilibrium", (with Ben Nelson) 

"VAR Models with Non-Gaussian Shocks" (with Jeremy Chiu and Haroon Mumtaz)

"Risk News Shocks and the Business Cycle" (with Kostas Theodoridis and Tony Yates)