José-Luis Peydró

ICREA-UPF and BSE - on leave

José-Luis Peydró is ICREA Professor at UPF and CREI and Research Professor at the Barcelona School of Economics. He is also Bundesbank Research Professor, CEMFI and CEPR Research Fellow, advisor of Bank of Spain, consultant in the European Central Bank, European Bank Authority and European Investment Bank, independent board member at Institut Català de Finances (ICF), and Member of the Group of Economic Advisers of the European Security Markets Authority (ESMA). He was board member at the European Systemic Risk Board and held visiting positions at Becker-Friedman Institute at Chicago University, MIT, IMF and World Bank. Peydró has had an ERC Consolidator grant until December 2021. 

Peydró specializes in Finance and Macroeconomics, mainly on banking, financial crises, systemic risk, monetary policy, macroprudential policy, globalization, financial contagion, financial innovation, credit, fintech, networks, capital and liquidity. His recent work analyzes credit/finance and (i) political radicalization, (ii) inequality, (iii) climate risk, (iv) digital economy, (v) negative interest rates, (vi) rise of shadow banks and fintech, (vii) fiscal policy and taxes, (viii) state-owned banks, (ix) financial and production networks and (x) COVID crisis. His research has more than 10,000 citations.

His research has been published in the top five journals in Economics: Econometrica (lead article), American Economic Review and Journal of Political Economy, and in the top three journals in Finance (Review of Financial Studies, Journal of Finance, and Journal of Financial Economics). He has also written the book Systemic Risk, Crises and Macroprudential Policy (MIT Press).

Photo © European Central Bank 2020

Awards, Grants, and Honors
  • ERC Consolidator Grant, "Debt and Persistence of Financial Shocks" (Project Website)
  • ECB Wim Duisenberg Research Fellowship (2018–19)
  • Senior Houblon-Norman and George Fellowship from the Bank of England (2016–17)
  • Three MINECO grants on systemic risk (2013-22)
  • Fundación BBVA grant on banking and large datasets (2018–20)
  • BSE Seed Grant, "Housing Wealth, Debt and Consumption" (2013)

Working Papers


Open Access       José-Luis Peydró, Francesc R Tous, Jagdish Tripathy and Arzu Uluc

Macroprudential Policy, Mortgage Cycles, and Distributional Effects: Evidence from the United Kingdom

The Review of Financial Studies, Vol.37, No 3, 727–760, March 2024, 10.1093/rfs/hhad070
Open Access
Open Access       Asger Lau Andersen, Niels Johannesen, Mia Jørgensen and José-Luis Peydró

Monetary Policy and Inequality

Journal of Finance, Vol.78, No 5, 2945–2989, July 2023, 10.1111/jofi.13262
Open Access
Sebastian Doerr, Stefan Gissler, José-Luis Peydró and Hans-Joachim Voth

Financial crises and political radicalization: How failing banks paved Hitler’s path to power

Journal of Finance, Vol.77, No 6, 2993-3425, December 2022, 10.1111/jofi.13166