Viral V. Acharya

Viral V. Acharya is the C.V. Starr Professor of Economics in the Department of Finance at New York University Stern School of Business. He is a Research Associate at the National Bureau of Economic Research (NBER), a Research Affiliate at the Center for Economic Policy Research (CEPR), and a Research Associate at the European Corporate Governance Institute (ECGI). He previously served as Deputy Governor of the Reserve Bank of India (2017–2019), with responsibilities in monetary policy, financial markets, and financial stability. He is currently Director of Doctoral Education at NYU Stern (2025–), Advisor to the NYU Stern Henry Kaufman Initiative on Financial History (2023–2026), and a Scientific Advisor to the Sveriges Riksbank (2024–). He is also a member of the Climate-related Financial Risk Advisory Committee (CFRAC) of the Financial Stability Oversight Council (2023–2026), the Bellagio Group, and the Financial Advisory Roundtable of the Federal Reserve Bank of New York.

Education:

• B.Tech. in Computer Science and Engineering, Indian Institute of Technology, Mumbai (1995)
• Ph.D. in Finance, New York University Stern School of Business (2001)

His research focuses on systemic risk, financial regulation, sovereign and financial linkages, credit and liquidity risk, and the macroeconomic implications of financial frictions. He has also recently explored risks related to pandemics and climate change. His recent publications examine commercial real estate exposure in banks, spillover risks from non-banks, U.S. Treasury market dynamics, and industrial policy in India. The body of work consistently emphasizes financial stability, regulatory design, and the interaction between public policy and financial markets.

Scientific Awards:

• Alexandre Lamfalussy Senior Research Fellowship, Bank for International Settlements (2017)
• Inaugural Banque de France – Toulouse School of Economics Junior Prize (2011)
• Senior Houblon-Norman Research Fellowship, Bank of England (2008)
• Clarivate Analytics Highly Cited Researcher (2020–2022)

Acharya has held numerous editorial and leadership roles, including Editor of the Journal of Law, Finance and Accounting (2014–2016, 2020–), member of the Editorial Committee of the Annual Review of Financial Economics (2022–), Board Member of the American Finance Association (2024–), and Director of the Western Finance Association (2012–2015). He has served as an Academic Advisor to multiple Federal Reserve Banks and international institutions including the IMF, World Bank, and BIS. He advises on financial policy globally and is a frequent commentator in major media outlets.

He is not known to advise specific students, but his leadership in doctoral education at NYU Stern underscores his role in mentoring the next generation of finance scholars. He is affiliated with research centers and policy initiatives focused on financial history, climate risk, and financial stability.