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Dr. Hedvig Gal, PhD
Assistant Professor, Budapest University of Technology and Economics
Lecturer in Data analysis (Contract of assignment)
Institute of Data Analytics and Information Systems, Corvinus University of Budapest, Hungary, Europe.
E-mail: hedvig.gal@uni-corvinus.hu.
Twitter: https://twitter.com/gal_hedvig.
ORCID-ID: orcid.org/0000-0003-2472-6263
MTMT: 10078153
Web of Science Researcher ID: QSP-1947-2026
Research Interests
Monetary models - International transmission mechanism, FX swap, Monetary policy;
Metric space - CAT(1)-space, Mosco convergence, Douglas-Rachford operator splitting algorithm;
Corporate finance and management.
Research Group
Quantitative finance (Beijing Institute of Technology, United States International University-Africa Nairobi) - bi-weekly;
Analysis in metric spaces (Department of Mathematics, Corvinus University of Budapest) - ongoing project - weekly;
Education
2020-2026: PhD in Economics. Doctoral School of Economics and Business Informatics, Corvinus University of Budapest (CUB). Thesis title: "Essays in Metric spaces and Macro-Finance". Supervisor: dr. Miklós Pálfia.
2018-2020: Master of Finance, Corvinus University of Budapest, September 2018 - 6th July, 2020. Advisor: dr. Gábor Kürthy.
Thesis title: "Finance stability: Monetary vs Macroprudential policy".
Published articles/ Conference proceedings in a published Book
Gál, H., Lovas, A. (2022). Ergodic Behavior of Returns in a Buy Low and Sell High Type Trading Strategy. In a book: Corazza, M., Perna, C., Pizzi, C., Sibillo, M. (eds) Mathematical and Statistical Methods for Actuarial Sciences and Finance. Springer. DOI: https://doi.org/10.1007/978-3-030-99638-3_45
Gál, H., Pálfia, M. Convergence of semi-convex functions in CAT(1)-spaces. Calculus of Variations and Partial Differential Equations. 63, 213 (2024), pp. 1-20. DOI: https://doi.org/10.1007/s00526-024-02823-4. (Scimago: D1)
Gál, H., Juhász, A. Quantitative Tightening: Theory, Research, and Impact on Emerging Market Economies, Journal of Central Banking Theory and Practice, 1 (2025), pp. 163-181. DOI: https://doi.org/10.2478/jcbtp-2025-0009. (Scimago: Q2)
3, article number 213,
Submitted and work-in-progress
Douglas-Rachford convergence in a metric space (work-in-progress).
International transmission mechanism of conventional monetary policy: Evidence from the US towards Canada, Japan and Australia, Finance Research Letters (work-in-progress).
Performance analysis of ESG-dedicated international organizations, Environment, Development and Sustainability (work-in-progress).
Invited Talks
Beijing Institute of Technology (China) - on site
Trunojoyo University (Indonesia) - December, 2026 - online
Academic administration
Final examination examining / serving as an Examiner for final examinations;
Thesis evaluations and reviews at BSc and MSc level (Corporate finance - company valuation, International economics and finance, Investment topics);
Committee member in the MSc and MBA admissions procedure / admissions committee member;
Supervisor of BSc students (20-22 students per each year).
Past and forthcoming conference participation
Mathematical and Statistical Methods for Actuarial Sciences and Finance, University of Salerno (Italy), 20-22 April, 2022 (MAF2022). Presentation of "Ergodic Behavior of Returns in a Buy Low and Sell High Type Trading Strategy".
International Conference on Empirical Economics, Pennsylvania State University at Altoona (USA), 5 August, 2023 - presenter and discussant. Presentation of "Quantitative Tightening: Theory, Research, and Impact on Selected Emerging Market Economies".
14th Annual Financial Market Liquidity (AFML) Conference, Corvinus University of Budapest (Hungary), 9-10 November, 2023. - PhD poster session. Presentation of "Performance analysis of ESG-dedicated international organizations".
VOCAL Optimization Conference: Advanced Algorithms, Corvinus University of Budapest (Hungary), 5-7 June, 2024 - presentation. Link: VOCAL 2024. Presentation of "Convergence of semi-convex functions in CAT(1) spaces and reflection on Douglas Rachford Operator Splitting Algorithm".
EUROPT2025 Conference on Advances in Continuous Optimization, University of Southampton, UK, 29 June - 2 July, 2025. Presentation of financial aspects related to "Coherent risk measurement and return analysis on non-reflexive Banach space" in Portfolio optimization - Stream: Applications: Finance.
Teaching
2026/2027 (Fall): Quantitative Methods, Data analysis I.;
2025/2026 (Spring): Data analysis II. - Probability and Statistics (BSc); Corporate Finance I. (BSc), Business solutions with Excel (BSc). Supervision of 22 students;
2025/2026 (Fall): Investment and financing (BSc), Business solutions with Excel (BSc); Economics I. (BSc); Mathematics I. - Calculus (BSc); Data analysis I. (BSc); teaching of approx. 1100 students and supervised 22 students during the Fall semester;
2024/2025 (Spring): Data Analysis II. - Probability and Statistics (BSc), Corporate Finance I. (BSc), Business solutions with Excel (BSc). Supervision of 20 students;
2024/2025 (Fall): Mathematics I. - Calculus (BSc), Mathematics for Finance (MSc), Corporate Finance II. (BSc), Business solutions with Excel (BSc). Supervision of 20 students;
2023/2024 (Spring): Data Analysis II. - Probability and Statistics (BSc), Entering Global Markets - International Business and Economics (BSc);
2023/2024 (Fall): Mathematics I. - Calculus (BSc);
2022/2023 (Fall): Mathematics I. - Calculus (BSc);
2020/2021 (Spring): Macroeconomics (BSc).
Membership
Society for Industrial and Applied Mathematics (SIAM) - joined the Activity Group on Financial Mathematics and Engineering and Activity Group on Optimization;
American Economic Association (AEA);
European Operational Research Societies - Working Group of Continuous Optimization (EUROPT);
European Finance Association (EFA).
Grants
International Visegrad Fund (IVF) Research Grant Programme - 06/2026 - 06/2029. Project title: "Monetary policy, exchange rate volatility and financial stability: Archival evidence from European countries". Link: https://www.eui.eu/news-hub?id=political-transformation-european-integration-focus-of-visegrad-grant-winners&lang=en-GB
National Research, Development and Innovation Office (ÚNKP) - 09/2023 - 08/2024;
EFOP-3.6.3-VEKOP-16-2017-00007 “Young researchers from talented students” project.
Workshop / Summer School / Conference
Oxford Summer School, 12-16 September 2022. Theoretical and applied sessions from Monetary Economics and International Finance. Presentation title: Quantitative Tightening by the Fed: Theory, Research, and Impact on Selected Emerging Market Economies. (on site)
Princeton Summer School, 27 June - 12 July 2023, Continuous Time Optimization. (online)
EUROPT Summer School, 21-22 August 2023, Corvinus Center of Operations Research, Corvinus University of Budapest, Hungary. Continuous Time Optimization. (on site)
University of Surrey Summer School, 11-15 September 2023, Centre for International Macroeconomic Studies - CIMS. (online)
Workshop: Statistics in metric spaces, 11-13 October, 2023., ENSAE, Palaiseau, France. (on site)
Corvinus University of Budapest, Mini-course on Continuous-Time Heterogeneous Agent Models in Matlab, 20-21 November, 2023. (on site)
3rd International Finance/Macro/Trade Conference organized by Sogang University (Korea), Johns Hopkins University (USA) and University of Surrey (UK), February 14-15, 2024. (online).
Skills
Languages: Hungarian (native language), English (fluent), German (intermediate), Italian (intermediate).
Programming languages and computing: Matlab, R, EViews, Stata, Gretl, SQL, Excel and Latex.