Előd Takáts - Research - Elod Takats
Academics: Princeton University, PhD in Financial Economics, 2002-2006
Woodrow Wilson Fellow (4 selected out of 120 eligible)
Fields: Finance, International Finance
Advisors: Patrick Bolton, Markus Brunnermeier, Henry Farber  
Research and Analytic Work
Recent research
Ageing and asset prices (BIS WP 318)
Based on BIS property price data the paper identifies the impact ageing on asset prices. Based on the results, global asset prices could face headwinds up to 100 basis points over the next forty years. Media coverage:  Reuters, Financial Times Alphaville, Economist, International Herald Tribune, etc
Was it credit supply? Cross-border bank lending to emerging markets during the financial crisis (BIS Quarterly Review, 2010 June)
Based on BIS banking statistics the paper finds that cross-border bank lending to emerging markets declined during the financial crisis mainly due to supply constraints of major international banks.
Cross-border bank lending to emerging market economies (BIS Paper 54)
Selected publications
A Theory of "Crying Wolf": The Economics of Money Laundering Enforecement (Journal of Law, Economics, and Organization 2009 - pdf)
Ted Truman on this paper at  World Bank/International Finance Corporation Financial and Private Sector Development Forum: "...This type of research should be at the theoretical level like Elod Takats’ recent IMF working paper on potential misplaced incentives for financial institutions to over report potential suspicious activities."
Promotions, Dismissals, and Employee Selection: Theory and Evidence, (Journal of Law, Economics, and Organization 2009 - pdf) joint with A. Frederiksen
The research was immediately cited in the new edition of the Handbook of Labor Economics as it showed both theoretical reasons and empirical evidence why selection on tenure is not necessarily negative as was thought before.
Selected IMF Working Papers
Australian Bank and Corporate Sector Vulnerabilities, with P. Tumbarello, IMF WP 09/223
Quoted and discussed on Bloomberg, The Australia Financial Review and many other places.
Interest Rate Liberalization in China, with T. Feyziouglu and N. Porter, IMF WP 09/171
Tax Rate Cuts and Tax Compliance - The Laffer Curve Revisited, with T. K. Papp, IMF WP 08/7
Arthur B. Laffer's opinion: "Your IMF Working Paper is the first time I’ve seen a serious effort to look at the elasticity of taxable income with respect to tax rates. This is what I had written and talked about for some 35 years. You’re the first and the paper is superb."
Black Finance: The Economics of Money Laundering, with D. Masciandaro and B. Unger
All proceedings from the book sales were donated to help students raising children.