Institute of Economic Research
Topic
Essays in Financial Stability.
PhD. program
Year of admission
2025
Name of the supervisor
prof. Ing. Štefan Lyócsa, PhD.
Contact:
Receiving school
Fakulta sociálnych a ekonomických vied UK
Annotation
Financial instability is associated with periods when businesses have difficulty accessing capital, investment is constrained, and confidence among economic agents, including households, is falling, forcing them to significantly adjust their current and future consumption. The peak and subsequent downturn of the financial cycle is associated with such periods of financial instability. The financial cycle thus captures changes in the behaviour of economic agents, in particular changes in risk appetite. The dissertation will address three separate topics related to the estimation, modelling and forecasting of financial cycles in selected countries. The aim is to offer policy makers and financial sector participants tools to anticipate the financial cycle, identify its determinants and its interconnectedness with other financial and economic cycles.