# Luc Laeven

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{{Short description|Dutch economist}}
{{Autobiography|date=July 2020}}

'''Luc Laeven''' (born June 22, 1974 in Klimmen) is a Dutch economist, director-general of the research department of the [European Central Bank](/source/European_Central_Bank) 2015–present.<ref name="auto2">{{Cite web|url=https://www.ecb.europa.eu/pub/research/authors/profiles/luc-laeven.en.html|title=Papers by Luc Laeven|website=European Central Bank|date=29 March 2022}}</ref> Previously he held senior posts at the [International Monetary Fund](/source/International_Monetary_Fund) and the [World Bank](/source/World_Bank).<ref name="auto">{{Cite web|url=https://sites.google.com/site/laevenl/home|title=Luc Laeven|website=sites.google.com}}</ref> He was also a Professor Finance at [Tilburg University](/source/Tilburg_University) from 2009 to 2019.<ref>{{Cite web|url=https://www.tilburguniversity.edu/staff/l-a-h-laeven|title=prof. dr. Luc Laeven &#124; Tilburg University|website=www.tilburguniversity.edu}}</ref> He has been a research fellow at the [Centre for Economic Policy Research](/source/Centre_for_Economic_Policy_Research) in London since 2009.<ref>{{Cite web|url=https://portal.cepr.org/users/ident/155503|title=Luc Laeven &#124; Centre for Economic Policy Research}}</ref>

==Early life and education==

Laeven studied econometrics at Tilburg University from 1992 to 1996.<ref name="auto"/> He then completed his Master in International Finance at the [University of Amsterdam](/source/University_of_Amsterdam) in 1997.<ref name="auto"/> He studied at the [London School of Economics](/source/London_School_of_Economics) from 1998 to 1999 and completed his PhD in economics at the University of Amsterdam in 2001.<ref name="auto"/><ref name="auto2"/>

==Career==
After having completed his undergraduate and graduate studies in econometrics and international finance in 1997, Laeven worked for a year as a management trainee in the Amsterdam and London offices of [ABN Amro Bank](/source/ABN_Amro_Bank).<ref name="auto"/> He then went on to study at the [London School of Economics and Political Science](/source/London_School_of_Economics_and_Political_Science) in the MPhil in Finance program, before finishing his PhD in economics at the [University of Amsterdam](/source/University_of_Amsterdam) in 2001, with a dissertation ''Essays on Financial Intermediation in Developing Countries'' written under the supervision of professor [Sweder van Wijnbergen](/source/Sweder_van_Wijnbergen).<ref name="auto"/> He joined the [World Bank](/source/World_Bank) the same year as a financial economist in its private sector and financial sector vice presidency, contributing to research and policy advice on financial sector issues in developing countries.<ref name="auto"/> He was then brought in by [Raghuram Rajan](/source/Raghuram_Rajan), the chief economist of the International Monetary Fund, to help build a macro-financial linkages unit in the Research Department of the [International Monetary Fund](/source/International_Monetary_Fund), first as senior economist and then as deputy division chief.<ref name="auto"/> After this, he became the lead economist of the research department of the International Monetary Fund, working closely with its chief economist [Olivier Blanchard](/source/Olivier_Blanchard), and led mission work to member countries, the production of board papers and discussion notes, and country review work.<ref name="auto"/> Following this career at the International Monetary Fund, Laeven became the director-general of the Directorate General Research of the [European Central Bank](/source/European_Central_Bank) in 2015, where he leads a department of about 65 staff in its two areas of responsibility: research and policy advice. The department conducts economic research and provides research-based policy advice to the European Central Bank's decision-making bodies on issues relevant to the conduct of monetary policy, central bank operations, financial stability, and banking supervision.<ref name="auto2"/>

His research focuses on banking and international finance issues, and has been widely published in top academic journals, including the ''[American Economic Review](/source/American_Economic_Review)'', the ''[Journal of Finance](/source/Journal_of_Finance)'', the ''[Journal of Financial Economics](/source/Journal_of_Financial_Economics)'', and the ''[Review of Financial Studies](/source/Review_of_Financial_Studies)''. His research output ranks among the top 150 economists globally according to [RePEC](/source/RePEC).<ref>{{Cite web|url=https://ideas.repec.org/top/top.person.all.html|title=Economist Rankings &#124; IDEAS/RePEc|website=ideas.repec.org}}</ref>

==Other activities==
Research Fellow, Financial Economics Programme, Centre for Economic Policy Research (CEPR), London, 2009–present.<ref name="auto"/>
Research Associate, European Corporate Governance Institute (ECGI), 2006–2016.<ref name="auto"/>
Managing Editor, ''[International Journal of Central Banking](/source/International_Journal_of_Central_Banking)'', 2020–present.<ref name="auto"/>
Co-Editor, ''International Journal of Central Banking'', 2016–2019.<ref name="auto"/>
Associate Editor, ''Journal of Financial Stability'', 2018–present.<ref name="auto"/>
Associate Editor, ''[Journal of International Money and Finance](/source/Journal_of_International_Money_and_Finance)'', 2013–present.<ref name="auto"/>
Associate Editor, ''Journal of Financial Intermediation'', 2013–present.<ref name="auto"/>
Associate Editor, [Journal of Money, Credit, and Banking](/source/Journal_of_Money%2C_Credit_and_Banking), 2012–present.<ref name="auto"/>

==Awards==
Laeven is a recipient of the 2014 Rising Star in Finance Award, jointly awarded by Stern School of Business of [New York University](/source/New_York_University), [Fordham University](/source/Fordham_University) and [Rensselaer Polytechnic Institute](/source/Rensselaer_Polytechnic_Institute).<ref name="auto"/><ref name="auto1">{{Cite web|url=https://www.fordham.edu/info/26978/finance_and_business_economics/10049/finance_conferences|title=Finance Conferences|first=Wayne A.|last=Anderson|website=www.fordham.edu}}</ref>

==Selected publications==

=== Books ===

* ''Systemic Risk, Crises, and Macroprudential Regulation''. By Xavier Freixas, Luc Laeven and José-Luis Peydró. Cumberland: MIT Press, 2016. {{ISBN|9780262028691}}
* ''Deposit Insurance Around the World Issues of Design and Implementation''. By [Aslı Demirgüç-Kunt](/source/Asli_Demirguc-Kunt), [Edward J. Kane](/source/Edward_Kane) and Luc Laeven. Cambridge, MA: MIT Press, 2008. {{ISBN|9780262042543}}
* ''Systemic Financial Crises: Containment and Resolution''. By Patrick Honohan and Luc Laeven. Cambridge: Cambridge University Press,   (2005).(pb, 2012) {{ISBN|9781107407206}}
* ''Deposit Insurance Around the Globe: Where Does It Work?'' By Aslı Demirgüç-Kunt, Edward J. Kane and co-eds .Washington, DC: World Bank, Development Research Group, Finance, 2001. {{ISSN|1073-2489}}<ref>{{Cite journal|last1=Demirgüç-Kunt|first1=Asli|last2=Kane|first2=Edward J.|date=June 2002|title=Deposit Insurance Around the Globe: Where Does It Work?|journal=Journal of Economic Perspectives|language=en|volume=16|issue=2|pages=175–195|doi=10.1257/0895330027319|issn=0895-3309|doi-access=free|hdl=10986/19549|hdl-access=free}}</ref>

=== Journal articles ===

* "[https://www.imf.org/external/pubs/ft/wp/2013/wp13143.pdf Bank Leverage and Monetary Policy’s Risk-Taking Channel: Evidence from the United States]". ''J. Finance'' 2017, 72 (2): 613–654. With Dell’Ariccia, Giovanni and Suarez, Gustavo [doi:10.1111/jofi.12467](/source/doi%3A10.1111%2Fjofi.12467).
* "[https://www.aeaweb.org/articles?id=10.1257/aer.p20161085 A Lost Generation? Education Decisions and Employment Outcomes during the Housing Boom-Bust Cycle of the 2000s]". ''Am. Econ. Rev''. 2016, 106 (5): 630–635. With Popov, Alexander. [doi:10.1257/aer.p20161085](/source/doi%3A10.1257%2Faer.p20161085).
* [http://faculty.haas.berkeley.edu/ross_levine/Papers/Geographic_expansion_11april2015.pdf "Does the Geographic Expansion of Banks Reduce Risk?]". ''J. Fin. Econ.'' 2016, 120 (2): 346–362. With Goetz, Martin and [Levine, Ross](/source/Ross_Levine). [doi:10.1016/j.jfineco.2016.01.020](/source/doi%3A10.1016%2Fj.jfineco.2016.01.020).
* [https://www.sciencedirect.com/science/article/abs/pii/S0304405X12001341 "Bank Valuation and Accounting Discretion During a Financial Crisis]". ''J. Fin. Econ.'' 2012, 106 (3): 614–634. With Huizinga, Harry. [doi:10.1016/j.jfineco.2012.06.008](/source/doi%3A10.1016%2Fj.jfineco.2012.06.008).
* "[https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1957362 Flight Home, Flight Abroad, and International Credit Cycles]". ''Am. Econ. Rev.'' 2012, 102 (3): 219–224. With Giannetti, Mariassunta. [doi:10.1257/aer.102.3.219](/source/doi%3A10.1257%2Faer.102.3.219).
* "[https://crei.cat/wp-content/uploads/2016/09/Giannetti.pdf The Flight Home Effect: Evidence from the Syndicated Loan Market During Financial Crises]". ''J. Fin. Econ.'' 2012, 104 (1): 23–43. With Giannetti, Mariassunta. [doi:10.1016/j.jfineco.2011.12.006](/source/doi%3A10.1016%2Fj.jfineco.2011.12.006).
* "[https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1142967 Bank Governance, Regulation, and Risk Taking]". ''J. Fin. Econ.'' 2009, 93 (2): 259–275. With Levine, Ross. [doi:10.1016/j.jfineco.2008.09.003](/source/doi%3A10.1016%2Fj.jfineco.2008.09.003).
* [https://www.sciencedirect.com/science/article/abs/pii/S0304405X07001353 "Political Connections and Preferential Access to Finance: The Role of Campaign Contributions]". ''J. Fin. Econ.'' 2008, 88 (3): 554–580. With [Claessens, Stijn](/source/Stijn_Claessens); Feijen, Erik. [doi:10.1016/j.jfineco.2006.11.003](/source/doi%3A10.1016%2Fj.jfineco.2006.11.003).
* "[https://ec.europa.eu/economy_finance/publications/pages/publication542_en.pdf Capital Structure and International Debt Shifting]". ''J. Fin. Econ.'' 2008, 88 (1): 80–118. With Huizinga, Harry and Nicodème, Gaetan. [doi:10.1016/j.jfineco.2007.05.006](/source/doi%3A10.1016%2Fj.jfineco.2007.05.006).
* "[https://www.academia.edu/25871880/Is_there_a_diversification_discount_in_financial_conglomerates Is There a Diversification Discount in Financial Conglomerates]?", ''J. Fin. Econ.'' 2007, 85 (2): 331–367. With [Levine, Ross](/source/Ross_Levine). [doi:10.1016/j.jfineco.2005.06.001](/source/doi%3A10.1016%2Fj.jfineco.2005.06.001).
* "[https://www.sciencedirect.com/science/article/abs/pii/S0304405X0600208X Banking Crises, Financial Dependence, and Growth]". ''J. Fin. Econ.'' 2007, 84 (1): 187–228. With Kroszner, Randall and Klingebiel, Daniela. [doi:10.1016/j.jfineco.2006.05.001](/source/doi%3A10.1016%2Fj.jfineco.2006.05.001).
* "[https://www.researchgate.net/publication/222574005_Entry_Regulation_as_a_Barrier_to_Entrepreneurship Entry Regulation as a Barrier to Entrepreneurship]". ''J. Fin. Econ.'' 2006, 82 (3): 591–629. With Klapper, Leora and [Rajan, Raghuram](/source/Raghuram_Rajan). [doi:10.1016/j.jfineco.2005.09.006](/source/doi%3A10.1016%2Fj.jfineco.2005.09.006).
* "[https://openknowledge.worldbank.org/bitstream/handle/10986/19201/multi0page.pdf?sequence=1&isAllowed=y Financial Development, Property Rights, and Growth]". ''J. Fin''. 2003, 58 (6): 2401–2436. With [Claessens, Stijn](/source/Stijn_Claessens). [doi:10.1046/j.1540-6261.2003.00610.x](/source/doi%3A10.1046%2Fj.1540-6261.2003.00610.x).

== References ==

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{{DEFAULTSORT:Laeven, Luc}}
Category:21st-century Dutch economists
Category:1974 births
Category:Living people
Category:Academic staff of Tilburg University
Category:Alumni of the London School of Economics
Category:University of Amsterdam alumni
Category:Tilburg University alumni

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Adapted from the Wikipedia article [Luc Laeven](https://en.wikipedia.org/wiki/Luc_Laeven) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Luc_Laeven?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.