Published Papers:
1) "Bank Cost Efficiency and Credit Market Structure Under a Volatile Exchange Rate" (2024), with Artem Prokhorov and Christopher Parmeter, Journal of Banking and Finance 168, 107285 [doi][Slides] [Supplementary Material] [SSRN}
2) "The Real Effects of Credit Supply Shocks: Evidence from an Emerging Economy" (2025), with Daria Kolesnik, Alexei Kiselev, and Anna Pestova, Oxford Bulletin of Economics and Statistics 87(1), 64-97 [doi]
Working Papers:
1) ``Quo Vadis? Bank Closures, Firm Performance, and New Bank-Firm Relationships" with Roman Goncharenko, Steven Ongena, Svetlana Popova, and Natalia Turdyeva [SSRN] R&R at the Review of Finance
Talks: 3rd Paris School of Business Workshop on Banks and Financial Markets (26 April 2024), French Inter-Business School Workshop in Finance (Montpellier Business School, 25 April 2024), Brown Bag seminar at Halle Institute for Economic Studies (IWH, 12 March 2024), ``Finance in the Tuscan Hills'' seminar series at the Florence School of Banking and Finance (EUI, 7 December 2023), 2023-EEA-ESEM (August 2023, Barcelona), Special Banking Seminar at the University of Zurich (May 2023), Brown Bag at the University of Miami (24 April 2023), 2022-EEA-ESEM (22-24 August 2022, Bocconi University), 26th International Conference on Macroeconomic Analysis and International Finance (ICMAIF, May 2022, Crete, Greece), BOFIT Research Seminar (March 2022, Helsinki), CInSt HSE Research Seminar (January 2022, Moscow),
Video: Florence School of Banking "FBF Pills" https://www.youtube.com/watch?v=fM-7PZ_ogmE&t=124s
2) ``Crime and Punishment? Anticipation, Diffusion, and Propagation of Global Sanctions," with Anna Pestova and Steven Ongena [SSRN] Submitted to a journal
Slides [3rd London Political Finance (POLFIN) Workshop]
CEPR Discussion paper 16075, CERGE-EI Working Paper 753, Swiss Finance Institute Research Paper No. 23-59
Media coverage: VoxEU
Talks: 2024 CEPR Symposium (Paris, December 2024). 2023 North Finance Association (NFA) Meeting (September 2023, Toronto, scheduled), 50th EFA Conference (August 2023, Amsterdam), Research Seminar at HEC Lausanne (8 May 2023), ``Brown Bag'' at Michigan State University (14 April 2023), Informal Macro Seminar at Princeton University (October 2022), CERGE-EI ``Brown Bag" Research Seminar (Prague, Czech Republic, September 2022), Research Seminar at the Bundesbank (Online, August 2022), Tri-City Day-Ahead Workshop on the Future of Financial Intermediation (Frankfurt, August 2022), the 11th MoFiR CEPR banking workshop (July 2022, Portugal), EUI Florence School of Banking and Finance Research seminar ``Crime and Punishment: The Effects of Sanctions on Russia'' (May 2022, Florence, Italy), the AFI Research Seminar at KU Leuven (April 2022), EBRD Research Seminar (April 2022), Research Seminar in Contract Theory, Banking and Money at the University of Zurich (March 2022), 2021-EEA-ESEM (August 2021), Asian Meeting of the Econometric Society (June 2021)
3) ``Macroeconomic and Distributional Impact of Sanctions News: Evidence from Russia,” with Anna Pestova [SSRN] Submitted to a journal
Previously circulated as: ``The Price of War: Macroeconomic and Cross-Sectional Effects of Sanctions on Russia''
Media coverage: The Guardian (October 2022), VoxTalks Podcast (June 2022), VoxEU #1 (April 2022), VoxEU #2 (October 2022), CERGE-EI ``Talking Economics'' Podcast (April 2022), RBC (June 2019)
Talks: 25th Conference ``Theories and Methods in Macroeconomics'' (April 2022, King's College London), Research Seminar in Contract Theory, Banking and Money at the University of Zurich (May 2022), 26th International Conference on Macroeconomic Analysis and International Finance (ICMAIF, May 2022, Crete, Greece), EUI Florence School of Banking and Finance Research seminar ``Crime and Punishment: The Effects of Sanctions on Russia'' (May 2022, Florence, Italy), Research Seminar at the Bundesbank (Online, August 2022), the 2nd ``Sailing the Macro'' Workshop (September 2022, Ventotene, Italy), 2023-EEA-ESEM (August 2023, Barcelona)
4) ``Violent Conflict and Cross-Border Lending" with Ralph De Haas, Alexander Popov, and Iliriana Shala [SSRN] Submitted to a journal
Talks: 3rd LSE-UCL Political Finance Workshop (London, June 2025, Scheduled), 2025 EFiC Conference in Banking and Corporate Finance (Rimini, June 2025, Scheduled), the University of Strasbourg--BOFIT--Fordham University Workshop on Bnaking and Institutions (Strasbour, June 2025, Scheduled), 13th EFI Workshop (the Bank of Belgium, April 2025), 2025 ECB-IMF-BIS-BoE ``Spillover" Conference (ECB, April 2025), 2025 WEFIDEV - RFS - CEPR Conference (LSE, March 2025)*, TBS Banking Workshop (Toulouse Business School, March 2025), 13th EFI Workshop (National Bank of Belgium, April 2025), 2025 BIS-BoE-ECB-IMF Spillover Conference (ECB, April 2025), Workshop on Banking and Institutions (University of Strasbourg, June 2025), Empirical banking workshop ``Finance in the Tuscan Hills" (Florence School of Banking, EUI, July 2024)*, Research Seminar at the Bundesbank (June 2024)*, Political Economy Workshop (Washington DC, July 2024)*
5) "Disasters and (Bank) Financing," with Anna Pestova, Steven Ongena, and Zhixi Wei [New version soon]
CEPR Press eBook (2024)
Slides (coming soon!)
Media coverage: VoxTalks Podcast (March 2024),
Talks: 3rd LTI Conference at Collegio Carlo Alberto (November 2023, Turin), BB seminar at the University of Zurich (February 2024)
6) "Corporate Credit and the Risk of Recession: The Role of the Productivity Channel," with Anna Pestova and Eleonora Sfrappini [New version soon]
Previous title: Bank Credit and the Risk of Recession: The Role of Business Cycle Shocks [SSRN]
Slides (new version coming soon)
Talks: Essex Finance Center (EFiC) 2024 Conference in Banking and Finance (July 4-5, scheduled), 2023 Australasian Meeting of the Econometric Society (August), Macro dinner at Princeton University (December 2022), CERGE-EI Brown Bag seminar (2020, 2022), Center for Econometrics and Business Analytics at the St.Petersburg State University (2020), the Royal Economic Society Conference (RES-2021), the Italian Econometric Society Conference (ICEEE-2021), 26th International Conference on Macroeconomic Analysis and International Finance (ICMAIF, May 2022, Crete, Greece), Research Seminar in Contract Theory, Banking and Money at the University of Zurich (August 2022), the 2nd ``Sailing the Macro'' Workshop (September 2022, Ventotene, Italy)
7) ``Credit Supply Shocks and Household Defaults," with Anna Pestova [SSRN, New version coming soon]
Slides (New version coming soon)
Talks: 2020-EEA-ESEM (August 2020, virtual), 2020 Central Bank Macro Modelling Workshop (Norway, October 2020), SEHO Annual Meeting (Boston, May 2021)
8) "Measuring Fraud in Banking and Its Impact on the Economy: A Quasi-Natural Experiment" [SSRN]
Talks: the 2023 International Conference in Finance, Banking and Accounting (2023-ICFBA, Montpellier Business School, France, September 2023)
9) "Potato to the Rescue: Home Production and Child Nutrition during Deep Economic Crises" with Anna Pestova and Ella Sargsyan [SSRN] Submitted to a journal
Work in Progress:
1) "Political Extremism, Bank Credit, and Recessions" with Mario Carillo, Raoul Minetti, and Pierluigi Murro
Talks: Empirical banking workshop ``Finance in the Tuscan Hills" (Florence School of Banking, EUI, July 2024), CERGE-EI Applied Micro Seminar (link, December 2024)
Video: Florence School of Banking "FBF Pills" https://www.youtube.com/watch?v=23O9gWKelzw
2) "Striving for Sustainability in Banking? Evidence from Socio-Environmental Guidelines in Brazil" with Hans Degryse, Bernardus van Doornik, Carola Theunisz, and Maxim Schepers.
Talks: Research Seminar at EBRD (London, September 2025), Finance Research Seminar at Toulouse School of Economics (TSE, September 2024), Finance Research Seminar at SKEMA Business School (link, December 2024)
3) "The Great Revenge? How Politicians Punish Firms in Opposition Areas after Elections" with Alexander Popov and Steven Ongena
* Presentation by co-author(s)