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Cambridge Endowment for Research in Finance (CERF)


Emile-Alexandre Marin is CERF's fully funded Phd Scholar (2015-2018). Darwin College.

CERF PhD Scholar: Emile-Alexandre Marin

PhD Supervisor: Professor Giancarlo Corsetti

University of Cambridge, Faculty of Economics

PhD Title & Abstract:

Time varying, directional connectedness of bond markets in Europe

The European experience of the recession has been painful and intimately linked to deteriorating macroeconomic fundamentals leading to sovereign default risk. I wish to construct a network of European bond markets using measures of connectedness and investigate the onset of the recession and its propagation from a novel perspective. Importantly, I will be able to investigate the direction of shocks, identifying which markets have been fundamental to the progression of events. In this framework I can analyse the effectiveness of policies conducted at both country and European level, as well as identify coordination benefits. I also aim to identify the importance of access to capital markets for countries facing default and the externalities of this on the Eurozone as a whole. Moreover, using a time-varying adjacency matrix, I can identify how the structure of the network changed over time and after important economic events such as the exclusion of countries from bond markets.

Research Update - August 2018

Research Update - April 2018

Research Update - August 2017

Research Update - April 2017

Research Update - July 2016

Latest news

PhD advisor and co-author of CERF post-doc Xinyu Hou wins Nobel Prize in Economics

11 October 2022

Philip H Dybvig from Washington University is (joint with Bernanke and Diamond) a recipient of this year’s Nobel Memorial Prize in Economic Sciences for his research on banks and financial crises. Prof. Dybvig is the former PhD advisor of Dr Xinyu Hou who is currently a post-doctoral researcher at the Cambridge Endowment...