Ivan PayaView profile
Professor
Ivan Paya is a Professor of Economics at Lancaster University's Management School. He is affiliated with the Economics Research Group and the Centre for Financial Econometrics, Asset Markets and Macroeconomic Policy. Currently on leave, he also serves as Co-director of both the UK Housing Observatory and International Housing Observatory. His research focuses on Applied Macroeconomics, Financial Economics, and Time Series Econometrics. Key areas of interest include: Effectiveness of macroprudential policies Role of housing markets on financial stability New tests to detect bubbles in asset prices Role of higher-order preferences on decision theory and portfolio choice Professor Paya's work demonstrates a strong emphasis on the intersection of housing markets, financial stability, and macroeconomic policy. His research employs advanced econometric techniques to analyze speculative bubbles, particularly in housing and oil markets, and examines how higher-order risk preferences influence portfolio choice decisions. His recent publications indicate a growing focus on the relationship between public debt and financial crises, as well as the effectiveness of macroprudential policies in the Euro Area. He has received recognition for his work on the Kőszegi-Rabin expectations-based model and risk-apportionment tasks for elicitation of higher order risk preferences, which bridges behavioral economics with traditional finance theory. As Co-director of the UK Housing Observatory and International Housing Observatory, Professor Paya plays a significant role in housing market analysis and policy recommendations. His research on house prices, unaffordability, and systemic risk has direct implications for housing policy and financial stability.










