Eddie Gerba

Head of Prudential Regulation Authority Research


Eddie is the Head of Research for the Prudential Regulation Authority (PRA). The role involves leading and overseeing the research framework on prudential/financial issues, including the delivery on the PRA research priorities. He leads the research community in the PRA and works closely with senior stakeholders across the Bank to drive the research agenda and governance forward. Prior to this, Eddie was the Head of Prudential Policy Research in the Prudential Policy Directorate.

Eddie’s research interests lie at the intersection between finance and macroeconomics. This includes topics such as credit cycles, financial intermediation theory, market-based finance, systemic risks, financial crises, and macro-financial cycles. 

Eddie is currently seconded to the University of Valencia’s Department for Economic Analysis as Visiting Professorial Fellow (Visiting Professor) to develop research on the nexus between competitive financial centres, macroeconomic outcomes and financial policy. Eddie is also a Senior Visiting Fellow at London School of Economics, a Distinguished Affiliate at CESifo Research Institute in Munich and an Executive Committee member of the International Finance and Banking Society. Prior to joining Bank of England, he had worked as Macroprudential Policy Advisor at Danish National Bank, a Research Economist at the Bank of Spain, a Research Consultant at the European Central Bank and Monetary Policy External Expert at European Parliament.

Eddie's selected academic publications

Selected journal publications

“Thank me later”: Why is (macro)prudence desirable? – with Graeme Cockayne, Andreas Kuchler and Rasmus Pank, Journal of Financial Stability (2024)
Financial market dysfunctionality and central bank intervention:  Lessons from the COVID-19 crisis – with David Aikman and Stephen Cecchetti, guest editors for the 2021 IFABS conference special issue, Forthcoming in Journal of Financial Services Research (2024)
Inspecting Cross-Border Macro-Financial Mechanisms – with Danilo Leiva-Leon and Margarita Rubio, Forthcoming in Journal of International Money and Finance (2024). Media coverage in LSE Blog
Intangible Capital, Stock Markets and Investments: Implications for Macroeconomic stability, Journal of Accounting and Finance (2020)
The role of cognitive limitations and heterogeneous expectations for aggregate production and credit cycles - with Paul de Grauwe, Journal of Economic Dynamics and Control (2018)
What is the Fiscal Stress in the Euro Area? Evidence from a Joint Monetary-Fiscal Structural Model - Ensayos Sobre Politica Economica (2018)
Monetary Transmission Under Competing Corporate Finance Regimes - with Paul de Grauwe, Ensayos Sobre Politica Economica (2017)
Financial Cycles and Macroeconomic Stability: How Secular is the Great Recession? - LAP Lambert Academic Publishing, Saarbruecken, Germany (2015)
The Finance – Welfare State Nexus - with Waltraud Schelkle, ACES cases 2013:1. The American Consortium on EU Studies (2013)

Other working papers

Determinants of SMEs’ Default on Covid and Non-Covid Loans: Evidence from the UK – with Ahmed Barakat, Meryem Duygun, Maurizio Fiaschetti, Tian Han, Enrico Onali, Afshin Sabri, Mike Tsionas, and Huamao Wang, R&R in British Journal of Management (2024)
Noisy credit cycles – with Danilo Leiva-Leon and Johannes Poeschl, Danmarks Nationalbank Working Paper No. 194. Media coverage in SUERF (2023)
An unconventional FX tail risk story – with Carlos Canon, Alberto Pambira and Evarist Stoja, LSE FMG Discussion Paper No. 893, LSE SRC Discussion Paper No. 126 and CES Ifo Working Paper No. 10629. Media coverage in SUERF (2023)
Quest for Robust Optimal Macroprudential Policy - with Pablo Aguilar, Stephan Fahr and Samuel Hurtado, Dynare Working Paper Series No. 53 and Banco de España Working Paper No.1916 (2020)
Macro-Financial Interactions in a Changing World - with Danilo Leiva-Leon, Danmarks Nationalbank Working Paper No.153 and Banco de España Working Paper No. 2018. Media coverage in LSE Blog (2020)
Rationalising the Irrational: How relevant are beliefs for asset prices, credit and aggregate production? - with Paul de Grauwe, Banco de España Working Paper No. 1626 and CES Ifo Working Paper No. 5573 (2017)
Knightian Uncertainty and Credit Cycles - with Dawid Zochowski, ECB Working Paper No. 2068 (2017)

This page was last updated 20 March 2024