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Meet the Researchers

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Judit Temesvary

Chief International Financial Stability Section International Finance
202-452-3759
[email protected]

Education

  • Ph.D., Economics, Cornell University, 2011
  • M.A., Economics, Cornell University, 2009
  • B.A., Economics, Wells College, 2004
Current Research Topics
  • International Finance
  • Banking and Financial Institutions
  • Chief, International Financial Stability

    Board of Governors of the Federal Reserve System

    2022 - present
  • Principal Economist

    Board of Governors of the Federal Reserve System

    2018 - 2022
  • Senior Economist

    Board of Governors of the Federal Reserve System

    2016 - 2018
  • Assistant Professor

    Hamilton College

    2011 - 2016
  • Visiting Scholar

    Cornell University

    2014 - 2016
  • Economic activity and the bank credit channel
    Horacio Sapriza and Judit Temesvary
    Journal of Banking & Finance (2024)
    https://doi.org/10.1016/j.jbankfin.2024.107216
  • Domestic lending and the pandemic: How does banks’ exposure to COVID-19 abroad affect their lending in the United States?
    Judit Temesvary and Andrew Wei
    Journal of International Money and Finance (2024)
    https://doi.org/10.1016/j.jimonfin.2024.103054
    See also » FRB Working Paper (2021)
  • Gender and Professional Networks on Bank Boards
    Ann L. Owen, Judit Temesvary, and Andrew Wei
    Journal of Financial Services Research (2023)
    https://doi.org/10.1007/s10693-023-00411-9
    See also » FRB Working Paper (2021)
  • Foreign banks’ asset reallocation in response to the introduction of the intermediate holding company rule of 2016
    Teodora Paligorova and Judit Temesvary
    Finance Research Letters (2022)
    https://doi.org/10.1016/j.frl.2022.102750
  • How investor demands for safety influence bank capital and liquidity trade-offs
    Wayne Passmore and Judit Temesvary
    Journal of Financial Stability (2022)
    https://doi.org/10.1016/j.jfs.2022.100987
  • Domestic Lending and the Pandemic: How Does Banks' Exposure to Covid-19 Abroad Affect Their Lending in the United States?
    Judit Temesvary and Andrew Wei
    Finance and Economics Discussion Series (2021)
    https://doi.org/10.17016/FEDS.2021.056r1
  • How does the interaction of macroprudential and monetary policies affect cross-border bank lending?
    Előd Takáts and Judit Temesvary
    Journal of International Economics (2021)
    https://doi.org/10.1016/j.jinteco.2021.103521
    See also » FRB Working Paper (2019)
  • Domestic Lending and the Pandemic: How Does Banks' Exposure to Covid-19 Abroad Affect Their Lending in the United States?
    Judit Temesvary and Andrew Wei
    Finance and Economics Discussion Series (2021)
    https://doi.org/10.17016/FEDS.2021.056
  • Gender and Professional Networks on Bank Boards
    Ann L. Owen, Judit Temesvary, and Andrew Wei
    Finance and Economics Discussion Series (2021)
    https://doi.org/10.17016/FEDS.2021.021r1
  • The Currency Dimension of the Bank Lending Channel in International Monetary Transmission
    Elöd Takáts and Judit Temesvary
    Journal of International Economics (2020)
    https://doi.org/10.1016/j.jinteco.2020.103309
    See also » FRB Working Paper (2017)
  • Asymmetries in the Bank Lending Channel of Monetary Policy in the United States
    Horacio Sapriza and Judit Temesvary
    Economics Letters (2020)
    https://doi.org/10.1016/j.econlet.2020.109050
  • Interest on Excess Reserves and U.S. Commercial Bank Lending
    Marcelo Rezende, Judit Temesvary, and Rebecca Zarutskie
    FEDS Notes (2019)
    https://doi.org/10.17016/2380-7172.2453
  • CEO Compensation, Pay Inequality, and the Gender Diversity of Bank Board of Directors
    Ann L. Owen and Judit Temesvary
    Finance Research Letters (2019)
    https://doi.org/10.1016/j.frl.2018.10.010
  • How Does the Strength of Monetary Policy Transmission Depend on Real Economic Activity?
    Horacio Sapriza and Judit Temesvary
    Finance and Economics Discussion Series (2019)
    https://doi.org/10.17016/FEDS.2019.023
  • Can Macroprudential Measures Make Cross-Border Lending More Resilient? Lessons From the Taper Tantrum
    Elöd Takats and Judit Temesvary
    International Journal of Central Banking (2019)
  • The Transmission of Foreign Monetary Policy Shocks into the United States through Foreign Banks
    Judit Temesvary
    Journal of Financial Stability (2018)
    https://doi.org/10.1016/j.jfs.2018.09.003
  • The Role of Regulatory Arbitrage in U.S. Banks' International Flows: Bank-level Evidence
    Judit Temesvary
    Economic Inquiry (2018)
    https://doi.org/10.1111/ecin.12579
  • The Performance Effects of Gender Diversity on Bank Boards
    Ann L. Owen and Judit Temesvary
    Journal of Banking & Finance (2018)
    https://doi.org/10.1016/j.jbankfin.2018.02.015
  • A Global Lending Channel Unplugged? Does U.S. Monetary Policy Affect Cross-border and Affiliate Lending by Global U.S. Banks?
    Judit Temesvary, Steven Ongena, and Ann L. Owen
    Journal of International Economics (2018)
    https://doi.org/10.1016/j.jinteco.2018.02.004
    See also » FRB Working Paper (2018)
  • The Drivers of Foreign Bank Lending in Central and Eastern Europe: The Roles of Parent, Subsidiary and Host Market Traits
    Judit Temesvary and Adam Banai
    Journal of International Money and Finance (2017)
    https://doi.org/10.1016/j.jimonfin.2017.08.005
  • Can Macroprudential Measures Make Cross-Border Lending More Resilient?
    Előd Takáts and Judit Temesvary
    BIS Working Papers (2017)
    See also » FRB Working Paper (2017)
  • The Currency Dimension of the Bank Lending Channel in International Monetary Transmission
    Elöd Takáts and Judit Temesvary
    BIS Working Papers (2016)
    See also » FRB Working Paper (2017)
  • The Drivers of Foreign Currency-Based Banking in Central and Eastern Europe
    Judit Temesvary
    Economics of Transition (2016)
    https://doi.org/10.1111/ecot.12089
  • Dynamic Branching and Interest Rate Competition of Commercial Banks: Evidence from Hungary
    Judit Temesvary
    International Journal of Industrial Organization (2015)
    https://doi.org/10.1016/j.ijindorg.2015.09.003
  • Country Characteristics in Foreign Bank Investments and Risk Taking: The Role of Shared Culture, Common Institutions and Geographic Proximity
    Ann L. Owen and Judit Temesvary
    International Finance (2015)
    https://doi.org/10.1111/infi.12066
  • Foreign Activities of U.S. Banks since 1997: The Roles of Regulations and Market Conditions in Crises and Normal Times
    Judit Temesvary
    Journal of International Money and Finance (2015)
    https://doi.org/10.1016/j.jimonfin.2014.09.008
  • The Determinants of U.S. Banks' International Activities
    Judit Temesvary
    Journal of Banking & Finance (2014)
    https://doi.org/10.1016/j.jbankfin.2014.04.014
  • Financial Crises, 1929 to the Present
    Judit Temesvary
    Journal of Economic Literature (2014)
    https://doi.org/10.1257/jel.52.1.211
  • Heterogeneity in the Growth and Finance Relationship: How Does the Impact of Bank Finance Vary by Country and Type of Lending?
    Ann L. Owen and Judit Temesvary
    International Review of Economics & Finance (2014)
    https://doi.org/10.1016/j.iref.2014.02.007
  • Some Determinants of Commercial Bank Behavior
    Judit Temesvary
    Dissertations (Cornell University) (2011)
  • Signal Extraction and Hyperinflations with a Responsive Monetary Policy
    Judit Temesvary
    Discussion papers (Hungarian Academy of Sciences. Institute of Economics) (2007)
Awards
  • 2021

    Federal Reserve Board

    MA Director's Award

  • 2019

    Federal Reserve Board

    MA Director's Award

  • 2018

    Bank for International Settlements

    Central Bank Research Fellowship

  • 2012

    Central Bank of Hungary

    Visiting Researcher

Conference Organization

  • 2024 | San Antonio, TX

    IBEFA @ ASSA

    Program Chair

  • 2022 | Portland, OR

    IBEFA @ WEAI

    Program Chair

Professional Affiliation
  • President; International Banking, Economics, and Finance Association
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Last Update: August 2, 2024