Udara Peiris
- Affiliated Researcher:International College of Economics and Finance
- Udara Peiris has been at HSE University since 2012.
Education:
PhD and MSc (Dist.) in Financial Economics, University of Oxford, 2010, Clarendon Scholar BComm (Hons), Finance and Actuarial Studies, UNSW, 2004
Research Interests:
Macroeconomics: Monetary Economics, International Finance
Asset Pricing: Credit Risk, Banking/Financial Stability
Personal page: www.udarapeiris.org
Services and Other Activities
Head of ICEF Search Committee
Member of Student Research and Placement Sub-committee and International Collaboration Sub-committee
Member of the Research Advisory Board Board of the Central Bank of Russia
Courses (2022/2023)
- Macroeconomics. Advanced Level (Master’s programme; International College of Economics and Finance; 1 year, 1-3 module)Eng
- Past Courses
Courses (2021/2022)
- International Finance (Master’s programme; International College of Economics and Finance; 2 year, 1 module)Eng
- Macroeconomics. Advanced Level (Master’s programme; International College of Economics and Finance; 1 year, 1-4 module)Eng
- Monetary Economics (Bachelor’s programme; International College of Economics and Finance; 4 year, 1-4 module)Eng
- Research Seminar in Financial Economics (Master’s programme; International College of Economics and Finance; 1 year, 1-4 module)Eng
Courses (2020/2021)
- International Finance (Master’s programme; International College of Economics and Finance; 2 year, 1 module)Eng
- Macroeconomics (Advanced Level) (Master’s programme; International College of Economics and Finance; 1 year, 1-4 module)Eng
- Monetary Economics (Bachelor’s programme; International College of Economics and Finance; 4 year, 1-4 module)Eng
- Research Seminar in Financial Economics (Master’s programme; International College of Economics and Finance; 2 year, 1-3 module)Eng
Courses (2019/2020)
- Advanced Macroeconomics (Master’s programme; International College of Economics and Finance; 1 year, 1-4 module)Eng
- International Finance (Master’s programme; International College of Economics and Finance; 2 year, 1 semester)Eng
- Monetary Economics (Bachelor’s programme; International College of Economics and Finance; 4 year, 1-4 module)Eng
Courses (2018/2019)
Publications13
- Preprint Andreev M., Peiris U., Shirobokov A., Tsomocos D. Commodity Cycles and Financial Instability in Emerging Economies / Bank of Russia. Series 57 "WORKING PAPER SERIES". 2020. No. 57. doi
- Article Andreev M., Peiris U., Shirobokov A., Tsomocos D. Macroprudential Policy and Financial (In)stability Analysis in the Russian Federation // Russian Journal of Money and Finance. 2019. Vol. 78. No. 3. P. 3-37. doi
- Article Goodhart C., Isakov K., Peiris Udara, Tsomocos Dimitrios. Debt Overhang and Monetary Policy in Czech Republic // HSE Economic Journal. 2018. Vol. 22. No. 3. P. 460-479.
- Article Goodhart C., Peiris U., Tsomocos D. Debt, Recovery Rates and the Greek Dilemma // Journal of Financial Stability. 2018. No. 26. P. 265-278. doi
- Chapter Peiris U., Tsomocos D., Vardoulakis A. Liquidity, Default and the Interaction of Financial Stability and Monetary Policy, in: The Changing Fortunes of Central Banking. Cambridge University Press, 2018. Ch. 10. P. 153-168. doi
- Article McMahon M., Peiris U., Polemarchakis H. Perils of unconventional monetary policy // Journal of Economic Dynamics and Control. 2018. No. 93. P. 92-114. doi
- Preprint Peiris U., Sokolova A., Tsomocos D. Capital Flows, Default, and Renegotiation in a Small Open Economy / University of Oxford. Series Saïd Business School "WP 2017". 2017. No. 03.
- Article Peiris U., Vardoulakis A. Collateral and the Efficiency of Monetary Policy // Economic Theory. 2015. Vol. 59. No. 3. P. 579-603. doi
- Article Peiris U., Tsomocos D. International Monetary Equilibrium with Default // Journal of Mathematical Economics. 2015. Vol. 56. P. 47-57.
- Article Peiris U., Goodhart C., Tsomocos D. Global Imbalances and Taxing Capital Flows // International Journal of Central Banking. 2013. Vol. 9. No. 2. P. 13-44.
- Article Peiris U., Vardoulakis A. Savings and default // Economic Theory. 2013. Vol. 54. No. 1. P. 153-180. doi
- Article Peiris U., Bhar R., Colwell D. A Markov Chain Modulated Short-Term Interest Rate Model: Inference on Central Bank Transparency // Journal of Applied Statistical Science. 2010. Vol. 17. No. 3. P. 427-445.
- Article Peiris U., Vardoulakis A., Tsomocos D., Goodhart C. On Dividend Restrictions and the Collapse of the Interbank // Annals of Finance. 2010. Vol. 8. P. 455-473.
Conferences and Seminars
Conferences:
-
January 2020 Participation in 2020 ASSA Annual Meeting
-
Participation in Midwest Macro Meetings, November 2019 in Michigan State University.
-
East Lansing, USA; Mexico, Mexico, October 2019 Participation in 3rd Conference on Financial (in)stability of Bank of Mexico.
-
UK (London, LSE), September 2019, Presentation “Commodity Cycles and Financial Instability in Emerging Economies” on the MMF 50thAnniversary Conference.
-
UK (London, LSE), September 2019, Participation in the workshop on DSGE-modelling.
-
Central Bank of Russia International Research Conference, July 2019, “Commodity Cycles and Financial Instability in Emerging Economies''
-
UK (Oxford, Gilford), April, 2019, Presentation “A Financial Stability Analysis for the Chilean Economy” in Oxford University
-
USA (New Haven), April, 2019, 15th Annual Conference on General Equilibrium and its Applications
-
USA (Atlanta), January, 2019 ASSA Annual Meeting
- University of Nevada - Reno, April 2018, "The Fisher Equation Reconsidered"
- 2017 North American Econometric Society Meeting, June 2017, Washington University, St Louis, USA, "Capital Flows, Default and Renegotiation in a Small Open Economy"
- 21st ICMAIF, May 2017, University of Crete, Rethymno, Crete, Greece "Perils of Unconventional Monetary Policy"
- 2017 Spring Midwest Macro Meeting, May 2017, Louisiana State University, Louisiana, USA, "Capital Flows, Default and Renegotiation in a Small Open Economy"
- Board of Governors of the Federal Reserve System, May 2017, Washington D.C., USA, "The Fisher Equation Reconsidered: Inside-Outside Money and the Transmission of Monetary Policy in a Simple Model of Banking"
- University of Virginia, May 2017, "Capital Flows, Default and Renegotiation in a Small Open Economy"
- 2017 Royal Economic Society Annual Conference, April 2017, University of Bristol, Bristol, UK, "Capital Flows, Default and Renegotiation in a Small Open Economy"
- 15th SAET meeting, July 2015, University of Cambridge, Cambridge, UK, "Default, Capital Structure and Aggregate Fluctuations in a DSGE model"
- University of Bath, May 2015, "Monetary Policy and Quantitative Easing in an Open Economy: Prices, Exchange Rates and Risk Premia"
- University of Surrey, May 2015, "Monetary Policy and Quantitative Easing in an Open Economy: Prices, Exchange Rates and Risk Premia"
- 10th Annual Cowles Foundation Conference on General Equilibrium and its applications, Yale University April 2014 «Monetary Policy and Quantitative Easing in an Open Economy: Prices, Exchange Rates and Risk Premia»
- American Economic Association Meeting, Philadelphia January 2014 «On the Efficiency of Nominal GDP Targeting in a Large Open Economy»
- Fall Midwest Macro Conference, University of Minnesota October 2013 «Monetary Policy and Quantitative Easing in an Open Economy: Prices, Exchange Rates and Risk Premia»
- Research Seminar, International Monetary Fund, Washington D.C. September 2013 «On the Efficiency of Nominal GDP Targeting in a Large Open Economy»
- Departmental Seminar, University of Illinois Urbana-Champaign September 2013 «Monetary Policy and Quantitative Easing in an Open Economy: Prices, Exchange Rates and Risk Premia»
- NBER/NSF/CEME Conference in Mathematical Economics and General Equilibrium Theory, Columbia University September 2013 «Monetary Policy and Quantitative Easing in an Open Economy: Prices, Exchange Rates and Risk Premia»
- Departmental Seminar, Rice University September 2013, On the Efficiency of Nominal GDP Targeting in a Large Open Economy Research Seminar, Federal Researve Bank of Dallas September 2013, «Monetary Policy and Quantitative Easing in an Open Economy: Prices, Exchange Rates and Risk Premia»
- 13th SAET Conference on Current Trends in Economics, MINES Paris Tech July 2013 «On the Efficiency of Nominal GDP Targeting in a Large Open Economy»
- Australasian Econometric Society Meeting, University of Sydney April 2013 «On the Efficiency of Nominal GDP Targeting in a Large Open Economy»
- Research Seminar, Reserve Bank of Australia July 2013, «On the Efficiency of Nominal GDP Targeting in a Large Open Economy»
- 10th Annual Cowles Foundation Conference on General Equilibrium and its applications, Yale University April 2014 «Monetary Policy and Quantitative Easing in an Open Economy: Prices, Exchange Rates and Risk Premia»
- American Economic Association Meeting, Philadelphia January 2014 «On the Efficiency of Nominal GDP Targeting in a Large Open Economy»
- Fall Midwest Macro Conference, University of Minnesota October 2013 «Monetary Policy and Quantitative Easing in an Open Economy: Prices, Exchange Rates and Risk Premia»
- Research Seminar, International Monetary Fund, Washington D.C. September 2013 «On the Efficiency of Nominal GDP Targeting in a Large Open Economy»
- Departmental Seminar, University of Illinois Urbana-Champaign September 2013 «Monetary Policy and Quantitative Easing in an Open Economy: Prices, Exchange Rates and Risk Premia»
- NBER/NSF/CEME Conference in Mathematical Economics and General Equilibrium Theory, Columbia University September 2013 «Monetary Policy and Quantitative Easing in an Open Economy: Prices, Exchange Rates and Risk Premia»
- Departmental Seminar, Rice University September 2013, On the Efficiency of Nominal GDP Targeting in a Large Open Economy Research Seminar, Federal Researve Bank of Dallas September 2013, «Monetary Policy and Quantitative Easing in an Open Economy: Prices, Exchange Rates and Risk Premia»
- 13th SAET Conference on Current Trends in Economics, MINES Paris Tech July 2013 «On the Efficiency of Nominal GDP Targeting in a Large Open Economy»
- Australasian Econometric Society Meeting, University of Sydney April 2013 «On the Efficiency of Nominal GDP Targeting in a Large Open Economy»
- Research Seminar, Reserve Bank of Australia July 2013, «On the Efficiency of Nominal GDP Targeting in a Large Open Economy»
Seminars:
- Russia (Nizjnii Novgorod), February 2019, HSE research seminar “Analysis of financial stability of Russian Economy"
- XXII European Workshop in General Equilibrium Theory, May 31 - June2, 2013, Vienna, Austria, "Monetary Policy and Quantitative Easing in an Open Economy: Prices, Exchange Rates and Risk Premia"
- Bank of England Research Seminar, April 30, 2013, Bank of England, London, UK, "On the Efficiency of Nominal GDP Targeting in a Large Open Economy"
- University of Warwick Departmental Seminar, January, 2013, Coventry, UK, "On the Efficiency of Nominal GDP Targeting in a Large Open Economy"
- University of Oxford Departmental Seminar, January, 2013, Oxford, UK, "On the Efficiency of Nominal GDP Targeting in a Large Open Economy"
- Purdue University Departmental Seminar, October 3, 2012, Department of Economics, West Lafayette, Indiana, US, "Monetary Policy and Quantitative Easing in an Open Economy: Prices, Exchange Rates and Risk Premia"
- The 2012 NBER/NSF/CEME Conference in Mathematical Economics and General Equilibrium, September 30, 2012, University of Indiana, Bloomington, Indiana, US, "Global Imbalances and Taxing Capital Flows"
- IJCB Fall Conference, September 27, 2012, Central Bank of Chile, Santiago, Chile, "Global Imbalances and Taxing Capital Flows"
- ICEF Research Seminar, September 13, 2012, HSE, Moscow, Russia, "Global Imbalances and Taxing Capital Flows"
- Hoelle, M. and Peiris, M.U., 2013 On the Efficiency of Nominal GDP Targeting in a Large Open Economy, Purdue University Krannert Working Paper Series, Paper No. 1273.
- Peiris, M. U. and Vardoulakis, A.P., On the Limitations of Monetary Policy, Warwick Working Paper, (extended working paper of 'Collateral and the Efficiency of Monetary Policy')
- Peiris, M. U. and Polemarchakis, H., Monetary Policy and Quantitative Easing in an Open Economy: Prices, Exchange Rates and Risk Premia, Warwick Working Paper
- Peiris, M. U., Mc Mahon, M. and Polemarchakis, H., The Perils of Quantitative Easing, Warwick Working Paper
Chapters in Books:
C.A.E. Goodhart and D. Tsomocos (2012), Ch 10. On Dividend Restrictions and the Collapse of the Interbank Market, Financial Stability in Practice, Vol. 2. Edward Elgar Publishing
Popular Press:
McMahon, M., Peiris, M.U. and Polemarchakis H., Outright Monetary Transactions Sterilized, Voxeu column, October 30 2012
Goodhart, CAE., Peiris, M. U., Vardoulakis, A.P. and Tsomocos, D.P., Dividend Restrictions as Macroprudential Regulation, voxeu, 18 February 2010
ICEF Graduates and Students Announced Winners of Student Research Paper Competition-2022
The HSE University has summed up the results of its Student Research Paper Competition-2022, held among students and graduates. For the representatives of ICEF, this contest was yet another proof of their excellent performance. Four won prizes as best finance and economics papers, three more received an honourable mention. This year’s competition among participants was greater than ever: since 2021 the authors of the winning papers receive a special scholarship from HSE for exceptional academic achievements.
ICEF Academia Welcomes New Cohort at Presentation Meeting
ICEF Academia offers its students advanced courses, research opportunities, access to scientific debate, and more in-depth training for academic careers. Its courses are taken alongside core curriculum. Presenting ICEF Academia to the new cohort of students were its leaders, teachers, and ICEF graduate Andrey Voronin, who shared his experience of gaining admission to PhD programme at UCLA (USA).
ICEF Bachelor’s Degree Graduates Have Successfully Defended Their Theses
Of the 180 undergraduates who defended their theses in 2022, six obtained the maximum score of 10. Here’s what the top achievers think had led to successful thesis defense, how they prepared it, and what they are planning to do next.
ICEF Held Thesis Defense Sessions for Its Master’s Cohort
Presented to the thesis committee was a total of 31 master’s theses. Of these, twenty-one were given excellent grades, with four scoring 10. The thesis committee had among its members professors of ICEF, NES and HSE. Here’s how the honours students prepared for their thesis defense, what drove their choice of topic and what they plan to do after graduation.
Controlling inflation: VOXeu published a paper co-authored with Associate Professor of ICEF Udara Peiris
Co-authored by Charles Goodhart, Udara Peiris, Dimitri Tsomocos and Xuan Wang, the paper is titled Corporate legacy debt, inflation, and the efficacy of monetary policy. It argues that high levels of corporate debt may render contractionary monetary policy less effective in controlling inflation, especially when there is a large volume of corporate debt in the economy.
ICEF Job Market Seminars Given A Start
Every year, ICEF and the faculties across HSE are recruiting lecturers through competitive examination. It is a requirement that candidates hold PhDs from leading international universities. Presenting at this year’s series of Job Market seminars will be researchers from the USA, Germany, Sweden, France and other countries.
ICEF Academia held a welcome meeting for its new enrollment
Alongside with the core curriculum,ICEF Academia offers its students more advanced courses, research and scientific debate opportunities, and better preparation for academic careers. Presenting ICEF Academia to first-year students were its leaders, teachers, and ICEF graduate Arseny Stolyarov, who is currently doing a PhD at the University of Wisconsin–Madison.
HSE offers the best finance programme for foreign students in Russia
Lin Yang entered ICEF Master’s Programme in Financial Economics after completing his bachelor in the United States, and believes that Russia provides unrivalled rigorous mathematical training. Lin currently serves as Investment Director of Eurasia Region at China Railway Construction Corporation International Investment Group. He talked about the features of Liberal Arts colleges, how neurosciences help in financial forecasting, and how the ICEF alumni community is useful for work.
ICEF Academia has welcomed its new class
It’s a fact that ICEF students are awarded two degrees when they graduate. There is, however, a third school many of them attend along with HSE and The University of London – ICEF Academia. Offering a programme of advanced courses, research opportunities, discussion venues and academic career guidance, ICEF Academia traditionally hosts welcome meetings and the year 2020 was not an exception. This year’s event was held online and here is how it went.
'Every Researcher Needs a Department That Keeps Believing in Them'
Hundreds of scholars from all over the world teach and conduct research at HSE University. At the International College of Economics and Finance (ICEF) alone there are more than 30 researchers who hold PhDs from universities outside Russia. One of them is Emiliano Catonini, who completed his second research project this year and is now preparing it for publication. He spoke with the HSE News Service about getting students to put their phones away during lecture, surviving academia, trading energy for economics, and falling in love with Moscow winters.
‘Scholars Are Humans, and You Shouldn’t Be Afraid of Them’
ICEF not only trains professionals in economics and finance, but also provides a perfect start for an academic career. Daniil Esaulov, lecturer, coordinator of student research work at ICEF and manager of ICEF Academia project, talked to us about how ICEF develops research skills, what students do at ICEF Academia, and why one shouldn’t be afraid of authorities in research.
The HSE Look July Issue
The third issue of 2020 presents three interviews on tenure track stories and our commentary on a new format of the April conference.
This Time is Different: Economic Policy Challenges in the time of COVID-19
An online panel discussion by economic experts will be hosted by ICEF on 3 June, 2020
'The aftermath of COVID-19: The Macroeconomy, Banks and NPLs'
ICEF Associate Professor of Finance Udara Peiris will talk about the upcoming financial problems on the Brown Bag Seminar on April 15th
New ICEF Full Time Academics
Two new academics will start their work at ICEF in September 2020. They have already met ICEF researchers and were interviewed on the ASSA Meeting – a global academic community job market which took place in San Diego this January.
We Forecast a Severe Global Recession
ICEF held a round table on Global Economy Challenges in 2020. Mr Thanassis Gontikas, Senior Vice-President of Edmond de Rothschild Bank (EdR) in Switzerland, was invited as a speaker.
'HSE ICEF Has a Diverse Team of Enthusiastic People'
As described by one of the original ICEF team members, Oleg Zamkov, ICEF Deputy Director and Academic Head of HSE and University of London Double Degree Programme in Economics, the success of ICEF was in choosing the right moment for the start and finding the right people, both academics and administrators. It would also be unimaginable without the advice and support from London School of Economics and Political Science (LSE), especially Richard Layard, who helped design several key elements of the curriculum for double degree programme, Richard Jackmanand Amos Witztum who made a significant contribution to ICEF idea implementation.
People of ICEF
Today, ICEF is proud to be academic home to over 20 international researchers with PhD degrees in economics, finance and social sciences, representing different countries and continents: Russia, Germany, France, Italy, Greece, Ukraine, Argentina, Australia, and India. ICEF faculty members share their stories of joining the team for The HSE Look readers.
ICEF Academia: for Curious and Brilliant Minds
In addition to the already intense studies, ICEF offers students a chance to gain even deeper knowledge of Economics and Finance. ICEF faculty members tell about ICEF Academia - a special programme aimed at students who excel at their studies and who want to acquire additional skills and knowledge.
The Way of Thinking
Dr. Udara Peiris received his PhD from the University of Oxford in 2010. He has been part of the HSE faculty for almost two years after accepting the position of Assistant Professor at the International College of Economics and Finance in 2012. Dr. Peiris spoke to 'The HSE LooK' before the summer break.