Vania Stavrakeva

Assistant Professor of Economcs

PhD (Harvard), BA (Franklin and Marshall)

Vania Stavrakeva has held the role of an Assistant Professor of Economics at London Business School since 2013. Her research interests include international finance, macroeconomics, macro-finance and financial sector regulation. She holds a PhD in economics from Harvard University.

She has extensively studied exchange rate determination and how monetary policy, macroeconomics news and beliefs impact exchange rate movements. Within these topics, she has examined questions such as: How does monetary policy impact exchange rates and what changed over the Global Recession and why? What is the source of heterogeneity of beliefs and positions in forex derivative markets? What makes a currency a safe heaven currency – i.e. it appreciates during bad times?

Regarding her financial intermediation research, Vania has extensively studied how the regulation of bank capital and derivative regulation should differ across countries, given that countries vary in their fiscal capacity – i.e. they have different ability to bail out their financial sector. She also studies how the banking sector interacts with the rest of the financial sector (such as asset management) and what this implies for the design of the regulatory framework of the financial sector. Finally, she has focused some of her ongoing research on the topic of “ring fencing”.


Optimal bank regulation and fiscal capacity

Stavrakeva V

Review of Economic Studies 2019 Vol 87:2 p 1034-1089


The continuing puzzle of short horizon exchange rate forecasting

Stavrakeva V; Rogoff K

National Bureau of Economic Research 2008


The dollar during the global recession: U.S. monetary policy and the exorbitant duty

Stavrakeva V; Tang J

Federal Reserve Bank of Boston


Exchange rates and the yield curve

Stavrakeva V; Tang J

Social Sciences Research Network


Exchange rates and monetary policy

Stavrakeva V; Tang J

Social Sciences Research Network

Optimal bank regulation and fiscal capacity

Stavrakeva V

Social Sciences Research Network

Teaching portfolio

Our teaching offering is updated annually. Faculty and programme material are subject to change.

  • Masters Degrees core courses

    A key part of our Masters programmes curriculum.

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    • Global Economic Analysis
      Explore key issues in macroeconomics and international finance, including: What are business cycles, what drives them and how do they affect the decision-making process of firms and policy makers? What is monetary policy? What role does it play for providing economic growth and stability? Have firms and financial markets become “addicted” to low interest rates? What is the role of fiscal policy in the economy? When should a country worry about its level of debt and when is it ok to spend more? Why are sovereign debt crises costly both for firms and for the economy and how can we avoid them? What theories can explain the behaviour of one of the most important macroeconomic variables for business, finance and trade? What are the current and capital accounts of a country and how do we think about the debt sustainability of a whole country? Can countries have stable exchange rates, free flow of capital and monetary policy independence all at the same time? If not, what are the trade-offs?
    • Understanding International Macroeconomy
      Study the forces that shape the corporate environment, the context within which firms operate and the importance of understanding macro-organisational issues.
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