Rustam Jamilov

Economics Fellow at Anthropic

Post-Doctoral Research Fellow at CeMoF Center, Stockholm University

Quondam Fellow at All Souls College and Associate Member at University of Oxford

Research Affiliate at CEPR (IMF and MEF)

 

Email:   rustam.jamilov@all-souls.ox.ac.uk

 

Info:      CV         Google Scholar

Research Statement  (October 2026)

 

Publications

 

  1.  The Anatomy of Cyber Risk

       with Hélène Rey and Ahmed Tahoun

       Updated: July 2026

       Journal of Finance, Forthcoming

       [data]

 

  2.  Bewley Banks

       with Tommaso Monacelli

       Review of Economic Studies, 93 (3), 2026: 1889–1925

       [published version] [replication files]

 

  3.  Monetary Unions with Heterogeneous Fiscal Space

       with Marco Bellifemine and Adrien Couturier

       Journal of International Economics, 156, 2025: 104092

       [published version] [replication files]

 

Under Revision

 

  4.  The Regional Keynesian Cross

       with Marco Bellifemine and Adrien Couturier

       Updated: June 2025

       Revise and Resubmit at Review of Economic Studies

       [website]

 

  5.  Assortative Matching, Interbank Markets, and Monetary Policy

       with Christian Bittner and Farzad Saidi

       Updated: August 2025

       Revise and Resubmit at American Economic Journal: Macroeconomics

 

  6.  Granular Credit Risk

       with Sigurd Galaasen, Ragnar Juelsrud and Hélène Rey

       Updated: November 2025

       Revise and Resubmit at American Economic Journal: Macroeconomics

 

  7.  Tax News and Intertemporal Substitution

       with Martin Holm, Marek Jasinski, and Plamen Nenov

       Updated: May 2026

       Revise and Resubmit at American Economic Journal: Macroeconomics

 

Working Papers

 

  8.  The Geography of Financial Frictions

       with Alexander Haas

       ECB Lamfalussy Research Fellowship 2024

       Updated: July 2026

 

  9.  Two Centuries of Systemic Bank Runs

       with Tobias König, Karsten Müller, and Farzad Saidi       

       Updated: July 2026

       [website] [VoxEU]

 

10.  Granular Sentiments

       with Alexandre Kohlhas, Sasha Talavera, and Mao Zhang

       Updated: July 2026

 

11.  Measuring Conflict Inflation

       John Fell Fund Early Career Researcher Main Award

       Marjolin Prize at the European Money and Finance Forum

       Updated: June 2025

       [website]

 

12.  HBANK: Monetary Policy with Heterogeneous Banks

       with Marco Bellifemine and Tommaso Monacelli

       Updated: May 2025

 

13.  Social Capital and Monetary Policy

       Updated: September 2025

 

14.  A Macroeconomic Model with Heterogeneous Banks

       Updated: April 2021

 

Work in Progress

 

15.  The Mental Health Multiplier

       with Renato Faccini, Alexandre Kohlhas, Sasha Talavera, and Mao Zhang

 

16.  The Political Economy of Wealth Heterogeneity

       with Tobias Kawalec

 

17.  Wholesale Funding Crises since 1800

       with Tobias König, Sami K. Mahmood, Karsten Müller, and Farzad Saidi

 

18.  Banking Unions

       with Daniel Barbosa and Alexander Haas

       ECB pilot project for access to confidential micro-data (project 48)

 

19.  Running Towards Disaster: Bank Runs, Rare Disasters, and Asset Prices

       with C. Christopher Hyland, Tobias König, Karsten Müller, and Farzad Saidi

 

Old or Dormant

 

       Credit Market Power: Branch-level Evidence from the Great Financial Crisis

 

       The Cross-Section of Risk-Taking and Asset Prices

       with Nuno Coimbra and Hélène Rey

 

       Interest Rate Pass-Through and Monetary Policy Asymmetry:  a Journey into the Caucasian Black Box

       with Balázs Égert

       Journal of Asian Economics, 2014

 

       Capital mobility in the Caucasus

       Economic Systems, 2013

 

       J-Curve Dynamics and the Marshall–Lerner Condition: Evidence from Azerbaijan

       Transition Studies Review, 2012