doc. PhDr. Adam Geršl, Ph.D.

Education

1996-1999 Bachelor's degree in Economics, IES FSV UK
1999-2001 Master's degree in Economics, IES FSV UK
2001-2006 PhD in Economics, IES FSV UK

Job history (outside the academic work at IES)

2020++ International Consultant on Financial Stability and Macroprudential Policy
2012-2020 Joint Vienna Institute - IMF Regional Training Center for Eastern Europe, Lead Economist
2007-2012 Czech National Bank - Deputy Director of Financial Stability Department
2006 European Central Bank - Expert in the EU Countries Division
2005-2006 Czech National Bank - Financial Stability Unit
2004-2005 European Central Bank - Expert in the Capital Markets and Financial Structure Division
2003-2004 Czech National Bank - Adviser to the Vice-Governor
2002-2003 Walter Eucken Institut, Freiburg - Visiting Fellow
2001-2002 Czech National Bank - Assistant to the Governor

Monographs

• Vencovský F., Půlpán K., Bažantová I., Sojka M., Půlpánová S., Geršl A., & Koderová J. (2005). Dějiny měnových teorií na českém území. Oeconomica.

Chapters in monographs

• Geršl A., & Jakubík P. (2009). Modely bankovního financování českých podniků a úvěrové riziko. Zpráva o finanční stabilitě 2008/2009 (pp. 90-98).
• Geršl A., & Půlpán K. (2005). Monetární myšlení Václava Klause jako reprezentanta snahy o zásadní změnu systému. Dějiny měnových teorií na českém území (pp. 323-339).
• Geršl A. (2006). Transformation in Tschechien : EU-Beitrittsverhandlungen und ihr Einfluss auf formelle und informelle Institutionen. Die Interaktion der ökonomischen Kulturen und Institutionen im erweiterten Europa (pp. 81-96).

Articles

• Geršl A. (2008). Productivity, export performance and financing of the Czech corporate sector: the effects of foreign direct investment. Finance a úvěr, 58(5-6), 231-247. UT-WOS link
• Geršl A., & Heřmánek J. (2008). Indicators of financial system stability : towards an aggregate financial stability indicator?. Prague Economic Papers, 17(2), 127-142. UT-WOS link
• Geršl A. (2008). Three indirect effects of foreign direct investment : evidence from the Czech Republic. Acta VŠFS, 2(1), 15-37.
• Geršl A. (2004). Foreign exchange intervention : the theoretical debate and the Czech koruna episode. Finance a úvěr, 54(3-4), 94-116. UT-WOS link
• Geršl A., & Komárková Z. (2009). Liquidity risk and banks' bidding behavior : evidence from the global financial crisis. Finance a úvěr, 59(6), 577-592. UT-WOS link
• Geršl A. (2007). Foreign banks, foreign lending and cross-border contagion : evidence from the BIS data. Finance a úvěr, 57(1-2), 27-40. UT-WOS link
• Geršl A. (2007). Political economy of public deficit : perspectives for constitutional reform. Acta Universitatis Carolinae. Oeconomica, Czech Economic Review, 1(1), 67-86.
• Geršl A. (2007). Cross-border lending and the risk of contagion. CNB Economic Research Bulletin, 5(1), 6-8.
• Geršl A., & Holub T. (2006). Foreign exchange interventions under inflation targeting : the Czech experience. Contemporary Economic Policy, 24(4), 475-491. UT-WOS link
• Geršl A. (2006). Testing the effectiveness of the Czech national bank's foreign exchange interventions. Finance a úvěr, 56(9-10), 398-415. UT-WOS link
• Geršl A. (2006). Political pressure on central banks : the case of the Czech national bank. Finance a úvěr, 56(1-2), 18-39. UT-WOS link
• Geršl A. (2006). Development of formal and informal institutions in the Czech Republic and other new EU member states before their EU entry : did the EU pressure have impact?. Prague Economic Papers, 15(1), 78-90.
• Geršl A., Jakubík P., Kowalczyk D., Ongena S., & Peydró-Alcalde J. (2012). Monetary conditions and banks' behaviour in the Czech Republic. Economic Research Bulletin, 10(2), 13-16.
• Geršl A., Jakubík P., Kowalczyk D., Ongena S., & Peydro J. (2015). Monetary Conditions and Banks' Behaviour in the Czech Republic. Open Economies Review, 26(3), 407-445. UT-WOS link
• Geršl A., Jašová M., & Zápal J. (2014). Fiscal Councils and Economic Volatility. Finance a úvěr, 64(3), 190-212. UT-WOS link
• Geršl A., & Jašová M. (2014). Measures to tame credit growth: Are they effective?. Economic Systems, 38(1), 7-25. UT-WOS link
• Geršl A., & Lešanovská J. (2014). Explaining the Czech interbank market risk premium. Economic Systems, 38(4), 536-551. UT-WOS link
• Geršl A., & Seidler J. (2015). Countercyclical Capital Buffers and Credit-to-GDP Gaps: Simulation for Central, Eastern, and Southeastern Europe. Eastern European Economics, 53(6), 439-465. UT-WOS link
• Geršl A., & Jakubík P. (2011). Relationship lending in emerging markets: evidence from the Czech Republic. Comparative economic studies, 53(4), 575-596.
• Geršl A. (2000). Liberalizace energetiky v ČR. Acta Universitatis Carolinae Oeconomica, 53-110.
• Geršl A., & Hlaváček M. (2007). Foreign direct investment, corporate finance, and the life cycle of investment. Finance a úvěr, 57(9-10), 448-464. UT-WOS link
• Geršl A., & Seidler J. (2012). How to Improve the Quality of Stress Tests through Backtesting. Finance a úvěr, 62(4), 325-346. UT-WOS link
• Geršl A., & Mitterling T. (2021). Forecast-Augmented Credit-to-GDP Gap as an Early Warning Indicator of Banking Crises. Finance a úvěr, 71(4), 323-351. UT-WOS link
• Geršl A., & Jašová M. (2018). Credit-based early warning indicators of banking crises in emerging markets. Economic Systems, 42(1), 18-31. UT-WOS link
• Geršl A., Komárková Z., & Komárek L. (2016). Liquidity Stress Testing with Second-Round Effects: Application to the Czech Banking Sector. Finance a úvěr, 66(1), 32-49. UT-WOS link
• Geršl A., & Seidler J. (2012). Excessive Credit Growth and Countercyclical Capital Buffers in Basel III: An Empirical Evidence from Central and East European Countries. Acta VŠFS, 6(2), 91-107.
• Geršl A., & Jakubík P. (2012). How Important Is the Adverse Feedback Loop for the Banking Sector?. Ekonomicky Casopis, 60(1), 32-49. UT-WOS link
• Geršl A., Jakubík P., Konečný T., & Seidler J. (2013). Dynamic Stress Testing: The Framework for Assessing the Resilience of the Banking Sector Used by the Czech National Bank. Finance a úvěr, 63(6), 505-536. UT-WOS link
• Crespo-Cuaresma J., Geršl A., & Slačík T. (2010). Could markets have helped predict the puzzling exchange rate path in CESEE countries during the current crisis?. Focus on European Economic Integration, 2010(März), 32-48.
• Brechler J., & Geršl A. (2014). Political legislation cycle in the Czech Republic. Constitutional Political Economy, 25(2), 137-153.
• Hlaváček M., Geršl A., Cahlík T., & Berlemann M. (2002). Využití experimentálních trhů pro predikce. Finance a úvěr, 52(11), 625-625. UT-WOS link
• Skufi L., & Geršl A. (2023). Using Macrofinancial Models to Simulate Macroeconomic Developments During the COVID-19 Pandemic: The Case of Albania. Eastern European Economics, 61(5), 517-553. UT-WOS link
• Hlaváček M., Geršl A., Cahlík T., & Berlemann M. (2003). Predikce využívající experimentální trhy. Politická ekonomie, 51(6), 838-850. UT-WOS link
• Cahlík T., Hlaváček M., & Geršl A. (2005). Market prices as indicators of the evidence of political events from the experimental market on the Czech Republic parliamentary election in 2002. Prague social science studies. Economics series, 2005(EC-003), 3-26.

Contributions in the conference proceedings

• Geršl A., Rubene I., & Zumer T. (2007). Foreign direct investment and productivity spillovers in the Central and Eastern European countries. Emerging markets : any lessons for Southeastern Europe? : March 5 and 6, 2007 (pp. 46-83).
• Seidler J., & Geršl A. (2010). Stress testing: conservative calibration and regular verification. Proceedings of the 2nd International Conference on Business and Economy (pp. 126-138).
• Seidler J., & Geršl A. (2011). Credit Growth and Capital Buffers: Empirical Evidence from Central and Eastern European Countries. Proceedings of World Academy of Science, Engineering and Technology (pp. 2976-2989).

2011 František Vencovský Prize, 1st place
2007 František Vencovský Prize, 1st place
2001 Karel Engliš Prize

JEM032 Banking and Risk Management

JEM228 Systemic Risk and Macroprudential Policy 

Bachelor theses

see topics for master theses

Master theses

Explaining credit developments in emerging markets
Sustainable credit levels in emerging markets
FX lending and credit cycle
Cross-border bank lending to emerging markets: do banks arbitrage away national prudential policies?
Has banking supervision and regulation become better after the global financial crisis?
Assessing the soundness of banking systems
Macroprudential policy, its instruments and their calibration
Communication of stress test results by central banks
Communication of macroprudential policy
Macroprudential policymaking: an institutional view
Optimal macroprudential policy in a currency union
Exploring the link between credit risk and loan-to-value/debt-service-to-income ratios
Early warning systems for emerging markets

 Financial Stability, Macroprudential Policy, Banking and Bank Regulation, International Finance, Financial Markets, Political Economy, Foreign Direct Investment