Photo of Skander Van den Heuvel

Skander Van den Heuvel

Education

  • Ph.D., Economics, Yale University, 2001
  • M.Phil., Economics, Yale University, 1997
  • B.A., Economics, University of Groningen, 1994
Current Research Topics
  • Bank Capital and Liquidity, Interest Rate Risk,
  • Temporal Risk Aversion and Long Run Risk
  • Assistant Director; Chief; Senior Economist; Economist

    Board of Governors of the Federal Reserve System

    2008 - present
  • Research Adviser (Visiting)

    European Central Bank

    2015 - 2017
  • Assistant Professor

    Finance Department, The Wharton School, University of Pennsylvania

    2001 - 2008
  • Carlson, Mark, Burcu Duygan-Bump, Fabio Natalucci, Bill Nelson, Marcelo Ochoa, Jeremy Stein, and Skander Van den Heuvel (2016). "The Demand for Short-Term, Safe Assets and Financial Stability: Some Evidence and Implications for Central Bank Policies," International Journal of Central Banking, vol. 12, no. 4, pp. 307-333.
  • Ramcharan, Rodney, Stephane Verani, and Skander J. Van den Heuvel (2016). "From Wall Street to Main Street: The Impact of the Financial Crisis on Consumer Credit Supply," Journal of Finance, vol. 71, no. 3, pp. 1323-1356.
  • Angelini, Paolo, Laurent Clerc, Vasco Cúrdia, Leonardo Gambacorta, Andrea Gerali, Alberto Locarno, Roberto Motto, Werner Roeger, Skander J. Van den Heuvel, and Jan Vlček (2015). "Basel III: Long-Term Impact on Economic Performance and Fluctuations," The Manchester School, vol. 83, no. 2, pp. 217-251.
  • English, William B., Skander J. Van den Heuvel, and Egon Zakrajšek (2014). "Interest Rate Risk and Bank Equity Valuations," Working Paper Series 14-05. Wharton Financial Institutions Center, University of Pennsylvania.
  • Carlson, Mark, Burcu Duygan-Bump, Fabio M. Natalucci, William R. Nelson, Marcelo Ochoa, Jeremy C. Stein, and Skander J. Van den Heuvel (2014). "The Demand for Short-Term, Safe Assets and Financial Stability: Some Evidence and Implications for Central Bank Policies," Finance and Economics Discussion Series 2014-102. Board of Governors of the Federal Reserve System (U.S.).
  • Ramcharan, Rodney, Skander J. Van den Heuvel, and Stephane Verani (2013). "From Wall Street to Main Street: The Impact of the Financial Crisis on Consumer Credit Supply," Finance and Economics Discussion Series 2013-10. Board of Governors of the Federal Reserve System (U.S.).
  • Van den Heuvel, Skander J. (2012). "Banking Conditions and the Effects of Monetary Policy: Evidence from U.S. States," B.E. Journal of Macroeconomics: Advances, Vol. 12, no. 2.
  • English, William B., Skander J. Van den Heuvel, and Egon Zakrajsek (2012). "Interest Rate Risk and Bank Equity Valuations," Finance and Economics Discussion Series 2012-26. Board of Governors of the Federal Reserve System (U.S.).
  • Dokko, Jane, Brian M. Doyle, Michael T. Kiley, Jinill Kim, Shane Sherlund, Jae Sim, and Skander J. Van den Heuvel (2011). "Monetary Policy and the Global Housing Bubble," Economic Policy, vol. 26, no. 66, pp. 233-283.
  • Van den Heuvel, Skander J. (2009). "Comment on 'Financial Regulation and Securitization: Evidence from Subprime Loans,' by Benjamin Keys, Tanmoy Mukherjee, Amit Seru, and Vikrant Vig," Journal of Monetary Economics, vol. 56, no. 5, pp. 721-724.
  • Dokko, Jane, Brian Doyle, Michael T. Kiley, Jinill Kim, Shane Sherlund, Jae Sim, and Skander Van den Heuvel (2009). "Monetary Policy and the Housing Bubble," Finance and Economics Discussion Series 2009-49. Board of Governors of the Federal Reserve System (U.S.).
  • Van den Heuvel, Skander J. (2008). "The Welfare Cost of Bank Capital Requirements," Journal of Monetary Economics, vol. 55, no. 2, pp. 298-320.
  • Van den Heuvel, Skander J. (2008). "Temporal Risk Aversion and Asset Prices," Finance and Economics Discussion Series 2008-37. Board of Governors of the Federal Reserve System (U.S.).
  • Van den Heuvel, Skander J. (2002). "Does Bank Capital Matter for Monetary Transmission?" Federal Reserve Bank of New York Economic Policy Review, vol. 8, no. 1, pp. 259-265.
  • Lane, Timothy D., and Skander J. Van den Heuvel (1998). "The United Kingdom's Experience with Inflation Targeting," IMF Working Papers 98/87. International Monetary Fund.
  • seminar

    June 2017

    European Central Bank

    Monetary policy and bank equity values in a time of low interest rates

  • conference

    October 2016

    Wharton Conference on Liquidity and Financial Crises

    The Welfare Effects of Bank Liquidity and Capital Requirements

  • seminar

    October 2016

    Univerity of Pennsylvania

    Interest Rate Risk and Bank Equity Valuations

  • seminar

    October 2016

    Federal Reserve Bank of Cleveland

    The Welfare Effects of Bank Liquidity and Capital Requirements

  • discussion

    October 2016

    European Central Bank conference on monetary policy pass-through and credit markets

    "Monetary Policy and Global Banking" by Falk Brauning and Victoria Ivashina

  • seminar

    September 2016

    Bank of England

    The Welfare Effects of Bank Liquidity and Capital Requirements

  • discussion

    July 2016

    NBER: Capital Markets and the Macroeconomy

    "A Dynamic Model of Heterogeneous Banks with Uninsurable Risks and Capital Requirements" by Mankart, Michaelides, and Pagratis

  • conference

    July 2016

    Macroprudential Policy Group

    The Welfare Effects of Bank Liquidity and Capital Requirements

  • seminar

    May 2016

    University of Cologne

    The Welfare Effects of Bank Liquidity and Capital Requirements

  • seminar

    April 2016

    De Nederlansche Bank (Visiting Scholar Program)

    The Welfare Effects of Bank Liquidity and Capital Requirements

  • discussion

    January 2016

    American Economic Association

    "Monetary Shocks and Bank Balance Sheets" by Sebastian Di Tella and Pablo Kurlat

  • discussion

    December 2015

    ECB workshop on Money markets and central bank balance sheets

    "The Liquidity Coverage Ratio and Security Prices" by Fuhrer, Mueller and Steiner

  • seminar

    October 2015

    European Central Bank

    The Welfare Costs of Bank Liquidity and Capital Requirements

  • seminar

    October 2015

    Norwegean Business School (BI)

    The Welfare Costs of Bank Liquidity and Capital Requirements

  • conference

    October 2015

    ECB workshop on Financial Intermediation

    Interest Rate Risk and Bank Equity Valuations

  • conference

    July 2015

    Society for the Advancement of Economic Theory

    The Welfare Cost of Bank Liquidity and Capital Requirements

  • discussion

    April 2015

    GSU/CEAR Conference on Liquidity Risk and Capital Requirements

    "Capital Requirements, Risk Choice, and Liquidity Provision in a Business Cycle Model" by Juliane Begenau

  • seminar

    March 2015

    International Monetary Fund

    The Welfare Cost of Bank Liquidity and Capital Requirements

  • discussion

    June 2014

    Macro-prudential Research Network, ECB

    "Tools for Assessing Macro-prudential Regulatory Instruments" (session discussant)

  • conference

    June 2014

    Stress Test Modeling Symposium

    Interest Rate Risk at Banks

  • discussion

    May 2014

    SFS Finance Cavalcade

    "Bank Capital Requirements: A Quantitative Analysis" by Thien Nguyen

  • conference

    March 2014

    MFA

    Interest Rate Risk and Bank Equity Valuations

  • discussion

    March 2014

    MFA

    "Country Transparency and the Global Transmission of Financial Shocks" by Luis Brandao Marques, Gaston Gelos, Natalia Melgar

  • conference

    November 2013

    Indices of Riskiness Conference

    Interest Rate Risk and Bank Equity Valuations

  • conference

    January 2011

    American Economic Association, ASSA Meetings

    The Welfare Cost of Liquidity Requirements

  • conference

    October 2013

    Boston University/Boston Fed Conference on Macro-Financial Linkages

    Interest Rate Risk and Bank Equity Valuations

  • discussion

    January 2013

    American Economic Association

    Global Banks and Financial Shocks: Evidence from an Estimated Model

  • seminar

    August 2012

    Georgetown University

    Interest Rate Risk and Bank Equity Valuations

  • conference

    June 2017

    6th MoFiR Workshop on Banking

    The Welfare Effects of Bank Liquidity and Capital Requirements

  • conference

    July 2012

    NBER Risks of Financial Institutions

    From Wall Street to Main Street: The Impact of the Financial Crisis on Consumer Credit Supply

  • discussion

    November 2011

    Liquidity Regulation Workshop, Federal Reserve Board and Federal Reserve Bank of New York

    "The Macroeconomic Impact of Adding Liquidity Regulations to Bank Capital Regulations" by Covas and Driscoll

  • conference

    October 2011

    Federal Reserve System Conference

    Banking Conditions and the Effects of Monetary Policy: Evidence from U.S. States

  • discussion

    October 2011

    The 2nd Boston University/Boston Fed Conference on Macro-Finance Linkages

    "Do Low Interest Rates Sow the Seeds of Financial Crises?" by Cociuba, Shukayev and Ueberfeldt

  • seminar

    June 2011

    International Monetary Fund

    Interest Rate Risk and Bank Equity Valuations

  • conference

    March 2011

    Conference on Empirical Macroeconomics Using Geographical Data

    Banking Conditions and the Effects of Monetary Policy: Evidence from U.S. States

  • conference

    January 2011

    Federal Reserve Day Ahead Financial Markets & Institutions Conference

    Interest Rate Risk and Bank Equity Valuations

  • discussion

    October 2010

    Financial Management Association

    "Interest Rates and the Cross-Section of Stock Returns" by Lioui and Maio

  • conference

    August 2010

    European Finance Association

    Temporal Risk Aversion and Long Run Risks

  • discussion

    August 2010

    European Finance Association

    "What is the Shape of the Risk-Return Relation?" by Rossi and Timmermann

  • discussion

    November 2009

    Federal Reserve System Conference on Financial Structure and Regulation

    "CoVaR" by Adrian and Brunnermeier

  • discussion

    October 2009

    NBER Workshop on Methods and Applications for DSGE Models

    "Banks, Credit Market Frictions and Business Cycles" by Ali Dib

  • discussion

    October 2009

    Conference on Models and Policies for Economies with Credit and Financial Instability

    "The Role of Bank Capital in the Propagation of Shocks" by Meh and Moran

  • conference

    May 2009

    Financial Intermediation Research Society annual conference

    Temporal Risk Aversion and Asset Prices

  • conference

    January 2009

    American Finance Association, ASSA Meetings

    Temporal Risk Aversion and Asset Prices

Conference Organization
  • September 2011 | Federal Reserve Board

    FRB-JMCB Conference on Regulation of Systemic Risk

Referee
  • American Economic Journal: Macro
  • American Economic Review
  • Economic Journal
  • European Economic Review
  • Finance Research Letters
  • International Economic Review
  • International Journal of Central Banking
  • Journal of Business
  • Journal of Economic Dynamics and Control
  • Journal of Economic Theory
  • Journal of Finance
  • Journal of Financial Intermediation
  • Journal of Financial Stability
  • Journal of Financial Services Research
  • Journal of International Money and Finance
  • Journal of Monetary Economics
  • Journal of Money, Credit, and Banking
  • Journal of Political Economy
  • Journal of the European Economic Association
  • National Science Foundation
  • Review of Economics and Statistics
  • Review of Finance
  • Review of Financial Studies
  • Wharton School Publishing
Professional Affiliation
  • Wharton Financial Institutions Center
Last update: November 20, 2017