Meet the Researchers
Lubomir Petrasek
Education
- Ph.D., Finance, Pennsylvania State University, 2011
- M.S., Economics, Prague School of Economics, 2004
- M.A., Political Science, Charles University in Prague, 2004
- Institutional investors, dealers, hedge funds
- Fixed income securities
Section Chief
Board of Governors of the Federal Reserve System
2020 - presentPrincipal Economist
Board of Governors of the Federal Reserve System
2016 - 2020Visiting Lecturer
University of Maryland
2017 - 2020Economist, Senior Economist
Board of Governors of the Federal Reserve System
2011 - 2016Lecturer
Pennsylvania State University
2010
- Risk-averse dealers in a risk-free market—The role of trading desk risk limits
Dan Li, Lubomir Petrasek, and Mary Tian
Journal of Financial Economics (2026)
https://doi.org/10.1016/j.jfineco.2026.104290
See also » FRB Working Paper (2025) - LTCM Redux? Hedge fund Treasury trading, funding fragility, and risk constraints
Mathias S. Kruttli, Phillip J. Monin, Lubomir Petrasek, and Sumudu W. Watugala
Journal of Financial Economics (2025)
https://doi.org/10.1016/j.jfineco.2025.104017 - Credit Supply and Hedge Fund Performance: Evidence from Prime Broker Surveys
Dan Li, Phillip J. Monin, and Lubomir Petrasek
Finance and Economics Discussion Series (2024)
https://doi.org/10.17016/FEDS.2024.089 - Assessment of Dealer Capacity to Intermediate in Treasury and Agency MBS Markets
Paul Cochran, Lubomir Petrasek, Zack Saravay, Mary Tian, and Edward Wu
FEDS Notes (2024)
https://doi.org/10.17016/2380-7172.3610 - Quantifying Treasury Cash-Futures Basis Trades
Jonathan Glicoes, Benjamin Iorio, Phillip Monin, and Lubomir Petrasek
FEDS Notes (2024)
https://doi.org/10.17016/2380-7172.3458 - Dealers' Treasury Market Intermediation and the Supplementary Leverage Ratio
Paul Cochran, Sebastian Infante, Lubomir Petrasek, Zack Saravay, and Mary Tian
FEDS Notes (2023)
https://doi.org/10.17016/2380-7172.3341 - Non-bank financial institutions and the slope of the yield curve
Sebastian Infante, Phillip Monin, Lubomir Petrasek, and Mary Tian
FEDS Notes (2022)
https://doi.org/10.17016/2380-7172.3185 - Insights from revised Form FR2004 into primary dealer securities financing and MBS activity
Sebastian Infante, Lubomir Petrasek, Zack Saravay, and Mary Tian
FEDS Notes (2022)
https://doi.org/10.17016/2380-7172.3182 - Sizing hedge funds' Treasury market activities and holdings
Ayelen Banegas, Phillip J. Monin, and Lubomir Petrasek
FEDS Notes (2021)
https://doi.org/10.17016/2380-7172.2979 - Asset Mispricing
Kurt F. Lewis, Francis A. Longstaff, and Lubomir Petrasek
Journal of Financial Economics (2021)
https://doi.org/10.1016/j.jfineco.2020.05.011 - Style and Skill: Hedge Funds, Mutual Funds, and Momentum
Mark Grinblatt, Gergana Jostova, Lubomir Petrasek, and Alexander Philipov
Management Science (2020)
https://doi.org/10.1287/mnsc.2019.3433 - Hedge Fund Holdings and Stock Market Efficiency
Charles Cao, Bing Liang, Andrew W. Lo, and Lubomir Petrasek
Review of Asset Pricing Studies (2018)
https://doi.org/10.1093/rapstu/rax015
See also » FRB Working Paper (2014) - What Is the Nature of Hedge Fund Manager Skills? Evidence from the Risk Arbitrage Strategy
Charles Cao, Bradley A. Goldie, Bing Liang, and Lubomir Petrasek
Journal of Financial and Quantitative Analysis (2016)
https://doi.org/10.1017/S0022109016000387 - The Effects of FOMC Communications before Policy Tightening in 1994 and 2004
Ellen E. Meade, Yoshio Nozawa, Lubomir Petrasek, and Joyce K. Zickler
FEDS Notes (2015)
https://doi.org/10.17016/2380-7172.1559 - Liquidity Risk and Institutional Ownership
Charles Cao and Lubomir Petrasek
Journal of Financial Markets (2014)
https://doi.org/10.1016/j.finmar.2014.05.001 - Liquidity Risk in Stock Returns: An Event-Study Perspective
Charles Cao and Lubomir Petrasek
Journal of Banking & Finance (2014)
https://doi.org/10.1016/j.jbankfin.2013.09.020 - Do Transparent Firms Pay Out More Cash to Shareholders? Evidence from International Cross-Listings
Lubomir Petrasek
Financial Management (2012)
https://doi.org/10.1111/j.1755-053X.2012.01192.x - Liquidity Risk and Hedge Fund Ownership
Charles Cao and Lubomir Petrasek
Finance and Economics Discussion Series (2012)
https://doi.org/10.17016/FEDS.2011.49 - Multimarket trading and corporate bond liquidity
Lubomir Petrasek
Journal of Banking & Finance (2012)
https://doi.org/10.1016/j.jbankfin.2012.03.015 - Multimarket Trading and the Cost of Debt: Evidence from Global Bonds
Lubomir Petrasek
Working paper series (European Central Bank) (2010)
https://doi.org/10.2139/ssrn.1620343
conference
2025-2026AFA, EFA, Paris Hedge Fund Conference
Internal Risk Limits and Dealer Intermediation, Credit Supply and Hedge Fund Constraints
conference
2023-2024EFA, NFA, Fixed Income and Financial Institution Conference, Short-Term Funding Markets Conference,
Internal Risk Limits and Dealer Intermediation, Hedge Fund Treasury Trading and Funding Fragility
conference
2021-2022Fixed Income and Financial Institution Conference, Paris Hedge Fund, Conference, Texas Finance Festival, MFA, NFA, NBER Summer Institute
Hedge Fund Treasury Trading and Funding Fragility
conference
2019-2020AFA, EFA, SFS Cavalcade
Corporate Bond Illiquidity: Evidence from Government Guarantees
conference
2017-2018AFA, AQR Asset Management, Office of Financial Research
Asset Mispricing
conference
2015-2016EFA, NYC Hedge Fund Research Symposium, AFA, North Carolina State University
Hedge Funds, Mutual Funds, and Momentum, Hedge Fund Holdings and Stock Market Efficiency
conference
2013-2014NFA, Paris Financial Management Conference
Risk Arbitrage and the Information Content of Hedge Fund Trading
conference
2011-2012Fordham/JBF Conference on Liquidity, FSU Finance Conference, NFA, University of Toronto, McGill University, ECB, University of Amsterdam, University of Rotterdam, University of New South Wales
Liquidity Risk in Stock Returns during the Financial Crisis of 2007-2009, Liquidity Risk and Hedge Fund Ownership
conference
2009-2010NFA, FMA
Multimarket Trading and Corporate Bond Liquidity, Do Transparent Firms Pay Out More Cash to Shareholders?
Awards
- 2026
Brookings Hutchins Center
Brookings Institution Grant
- 2018
AQR
Insight Award, Honorable Mention
- 2013
Northern Finance Association and CFA Society Toronto
Award for the Best Paper on Capital Markets
- 2010
Pennsylvania State University
Schreyer Graduate Fellowship
- 2009
European Central Bank
Lamfalussy Research Fellowship
Conference Organization
2014, 2015
Paris Financial Management Conference
Scientific Committee Member
Referee
- Journal of Financial and Quantitative Analysis
- Journal of Financial Markets
- Journal of Banking and Finance
- Review of Asset Pricing Studies
- Journal of Empirical Finance
- Management Science
Professional Affiliation
- American Finance Association
- European Finance Association
- CFA Institute