Hoerova, Marie

Other current responsibilities
  • 2015-
    CEPR Research Fellow, Financial Economics Programme
  • 2015-
    Editorial Board Member, ECB Working Paper Series
  • 2013-
    Associate Editor, Journal of Financial Intermediation
Education
  • 2001-2006
    PhD in Economics, Cornell University, Ithaca, United States
  • 1997-2000
    BA in Economics, Charles University, Prague, Czech Republic
Professional experience
  • 2019-
    Adviser - Monetary Policy Research Division, Directorate General Research, European Central Bank
  • 2017-2019
    Principal Economist - Financial Research Division, Directorate General Research, European Central Bank
  • 2015-2017
    Senior Economist - Financial Research Division, Directorate General Research, European Central Bank
  • 2006-2014
    Economist - Financial Research Division, Directorate General Research, European Central Bank
Teaching experience
  • 2011-2014
    Financial Intermediation Theory (graduate level) - Instructor, Charles University, Prague, Czech Republic
  • 2005
    International Economics (graduate level) - Teaching assistant, Cornell University, Ithaca, United States
  • 2003
    Econometrics (undergraduate level) - Teaching assistant, Cornell University, Ithaca, United States
  • 2002
    Probability and Statistics (undergraduate level) - Teaching assistant, Cornell University, Ithaca, United States
Awards
  • 2017
    Best paper prize of the Europlace Institute of Finance (for "Risk-sharing or risk-taking? Counterparty risk, incentives and margins")
  • 2016
    Best paper award of the Journal of Financial Intermediation (for "Lending-of-last-resort is as lending-of-last-resort does: Central bank liquidity provision and interbank market functioning in the euro area")
  • 2013
    Visiting scholar, Research Division, Federal Reserve Bank of St. Louis, United States
  • 2009
    Marjolin prize of the European Money & Finance Forum (for "Liquidity hoarding and interbank market spreads")
  • 2009
    Best paper prize of the Bocconi University conference "Business Models in Banking" (for "Liquidity hoarding and interbank market spreads")
  • 2003
    Outstanding teaching award, Louis Walinsky Fund in Economics, Cornell University, Ithaca, United States
  • 2001
    Fulbright fellowship to study in the United States (2001-2006)
  • 2000
    Socrates fellowship to study at the Université Catholique de Louvain, Louvain-la-Neuve, Belgium

ECB Working Paper Series

2019
2018
2017
2016
2014
2013
2012
2009
2007

ECB Research bulletin

Journal publications

2016
Bekaert, G. and Hoerova, M.
What do asset prices have to say about risk and uncertainty?
Journal of Banking and Finance, Vol. 67, pp. 103-118
Biais, B., Heider, F. and Hoerova, M.
Risk-sharing or risk-taking? Counterparty risk, incentives and margins
Journal of Finance, Vol. 71, No 4, pp. 1669-1698
Garcia, C., Heider, F., Hoerova, M. and Manganelli, S.
Lending-of-last-resort is as lending-of-last-resort does: central bank liquidity provision and interbank market functioning in the euro area
Journal of Financial Intermediation, Vol. 28, No C, pp. 32-47
2015
Bussière, M., Hoerova, M. and Klaus, B.
Commonality in hedge fund returns: driving factors and implications
Journal of Banking and Finance, Vol. 54, pp. 266-280
Heider, F., Hoerova, M. and Holthausen, C.
Liquidity hoarding and interbank market rates: the role of counterparty risk
Journal of Financial Economics, Vol. 118, pp. 336-354
2014
Bekaert, G. and Hoerova, M.
The VIX, the variance premium and stock market volatility
Journal of Econometrics, Vol. 183, pp. 181-192
2013
Bekaert, G., Hoerova, M. and Lo Duca, M.
Risk, uncertainty and monetary policy
Journal of Monetary Economics, Vol. 60, No 7, pp. 771-788
2012
Biais, B., Heider, F. and Hoerova, M.
Clearing, counterparty risk and aggregate risk
IMF Economic Review, Vol. 60, pp. 193-222
Hoerova, M., Monnet, C. and Temzelides, T.
Money talks
Economics Letters, Vol. 116, pp. 617-621
2009
Heider, F. and Hoerova, M.
Interbank lending, credit risk premia and collateral
International Journal of Central Banking, Vol. 5, pp. 1-39

Other publications

2017
Hoerova, M.
Liquidity and capital: Substitutes or complements?
Achieving Financial Stability Challenges to Prudential Regulation, Eds. Evanoff, D., Kaufman, G., Leonello, A. and Manganelli, S., World Scientific Books, No. 10529
2013
Biais, B., Heider, F. and Hoerova, M.
Incentive-compatible centralized clearing
Banque de France Financial Stability Review No. 17
2010
Bekaert, G. and Hoerova, M.
Risk, uncertainty and monetary policy
ECB Research Bulletin No. 10