Alexander Michaelides

Biography

Alexander Michaelides is Professor of Finance at Imperial College Business School.

He is also a Research Fellow at the Centre for Economic Policy Research (CEPR) working on International Macroeconomics and Financial Economics Programmes.

Professor Michaelides was previously a Lecturer (2001-2006) and Associate Professor (2006-2010) at the Department of Economics, London School of Economics & a Professor of Finance at the Department of Public and Business Administration, University of Cyprus (2010-2014). Before that he was Lecturer (1998-2000) and Assistant Professor (2000-2001) at the Department of Economics, University of Cyprus.

He has held visiting scholar positions at the Federal Reserve Bank of New York and the Board of Governors of the Federal Reserve System, was a Wim Duisenberg Research Fellow at the European Central Bank (2012), and a senior researcher at the Central Bank of Cyprus (2009-2010). Between May 2013 and November 2013 he was a non-executive member of the Board of Directors of the Central Bank of Cyprus.

He has also served as Head of the Department of Finance at Imperial College Business School between October 2014 and April 2021. He currently serves as Director of Post Graduate Studies at the Business School (since September 2023).

Publications (Selected)

“Asset Pricing and Risk Sharing Implications of Alternative Pension Plan Systems” (with NunoCoimbra, Francisco Gomes and Jialu Shen), Journal of Finance, February 2026.

“Media and Business Cycle Predictability” (with Salim Baz and Lara Cathcart), Journal of Forecasting, forthcoming.

“Intra-Household Risk Sharing in Collective Portfolio Choice Models” (with Joachim Inkmann andYuxin Zhang), Journal of Financial and Quantitative Analysis, forthcoming.

“Inflation, Money Demand and Portfolio Choice” (with Kosuke Aoki, Kalin Nikolov and YuxinZhang), 2026,Management Science,72(2), pp. 853-873.5.

“Stock Market Ownership Transitions” (with Yosef Bonaparte, George Korniotis, Alok Kumar andYuxin Zhang),Management Science, 2025, 71(6), 4977-5000.

“Corporate pension plan funding levels and pension assumptions” (with Andreas Milidonis andPanayiotis Papakyriakou),2025,Journal of Risk and Insurance,92, 627-664.7.

“Networks and Information in Credit Markets” (with Abhimanyu Gupta, Sotirios Kokas and RaoulMinetti), 2025,Journal of Corporate Finance, 94, 102840.8.

“Lebanon: From Dollars to Lollars” (with Salim Baz and Lara Cathcart),International Finance,March 2025, 28:1, pp. 37-63.9.

“Housing, Distribution and Welfare” (with Nobuhiro Kiyotaki and Kalin Nikolov),Journal ofMoney, Credit and Banking,2024, 56(5), 981-1020.

Education

PhD Economics, Princeton University

MA Economics, Princeton University

BA Economics, Harvard University

Institutions

Imperial College London

London School of Economics

University of Cyprus

Centre for Economic Policy Research

Fields

Economics

Finance

Topics

Household Finance

Asset Pricing with Heterogeneous Agents & Financial Frictions

Housing Markets

Intersection of Macroeconomics & Finance

Central Banking

Non-Executive Member of the Board of Directors, Central Bank of Cyprus (2013)