Tobias Adrian is a Senior Vice President of the Federal Reserve Bank of New York and the Associate Director of Research and Statistics Group. His research covers asset pricing, financial intermediation, and macroeconomics, with a focus on the aggregate implications of capital market developments.
It remains difficult to forecast financial instability. But, progress is being made to improve the understanding of important links between the financial sector and the economy.
If financial conditions remain easy for too long, vulnerabilities will continue to build, and the odds of a sharp drop in economic growth at some later point will be higher.
Banks’ balance sheet leverage has been shrinking, and dealers’ corporate bond holdings have fallen and stagnated (Figure 1). These factors raise potential concerns that dealers have reduc...
The financial system has undergone far-reaching changes since the 2008 Global Crisis. This column casts those changes in terms of shifts in the way financial intermediaries manage their b...
This chart from the IMF looks at banking regulation and supervisory frameworks from 2013 to 2017.
L’incertitude entourant les politiques économiques s’accroît dans certains pays et une montée des pressions sur le marché financier est observée dans plusieurs pays émergents.
Aunque la expansión mundial ha tocado techo, las políticas monetarias acomodaticias continúan respaldando el crecimiento. Pero no debemos darnos por satisfechos.
The IMF's Global Financial Stability Report looks at some of the risks facing the global economy.
Tobias Adrian and Maurice Obstfeld from the IMF look at the challenge of regulating and supervising modern finance.
La tarea de supervisar el sector financiero, que nunca es fácil, se ha tornado más compleja en los últimos 50 años, conforme la actividad financiera ha ido atravesando cada vez más fronte...
Research assesses the impact of monetary policy on financial conditions and financial vulnerabilities that amplify negative shocks.
