Portrait of Dimitrios P. Tsomocos

Professor Dimitrios P. Tsomocos is a Professor of Financial Economics at Saïd Business School and a Fellow in Management at St Edmund Hall, University of Oxford.

Dimitrios' research has had a substantial impact on economic policy around the world. In particular, he analyses issues of contagion, financial fragility, interbank linkages and the impact of the Basel Accord and financial regulation in the macroeconomy, using a General Equilibrium model with incomplete asset markets, money and endogenous default. He is working towards designing a new paradigm of monetary policy, financial stability analysis and macroprudential regulation.

A mathematical economist by trade, his main areas of expertise include:

  • Central Banking
  • Banking and regulation
  • Incomplete asset markets
  • Systemic risk
  • Financial instability
  • Issues of new financial architecture

He co-developed the Goodhart – Tsomocos model of financial fragility in 2003 while working at the Bank of England. The impact has been significant and more than ten central banks have calibrated the model, including the Bank of Bulgaria, Bank of Colombia, Bank of England and the Bank of Korea. Nowadays, he is collaborating with researchers from the ECB, the Central Bank of the Russian Federation and the Bank of Chile to implement an updated version of the model, together with professor Udara Peiris. In 2011, Dimitrios provided testimony to House of Lords for the Economic and Financial Affairs and International Trade Sub Committee's report, 'The future of economic governance in the EU'.

Dimitrios has been an economic advisor to one of the main political parties in Greece and regularly provides commentary on the state of the Greek economy to local and international media. He has worked with central banks in countries including England, Bulgaria, Colombia, Greece, Korea and Norway to implement the Goodhart – Tsomocos model and advise them on issues of financial stability. He has also served as a Senior Research Associate at the Financial Markets Group at the London School of Economics.

Recent Publications

Dollar Denominated Sovereign Debt Risk and Restructuring in Emerging Markets,(with Yixiao Tan and Xuan Wang), Journal of Financial Stability, Volume 85, 101555,August 2026
Stabilizing Credit When Nonperforming Loans Surge: The Role of Asset Management Companies,(with E. O'Brien, R. Martin and U. Peiris), Journal of Economic Dynamics and Control, Volume 183, 105249,February 2026
Lecture Notes on General Equilibrium and Financial Frictions,(with D. Pesch), forthcoming,2026
Unveiling the power of state activism in times of distress,(with A. Hryckiewicz, N. Kryg and O. Zadorozhna), Economic Analysis and Policy, Volume 86, 1346 376,June 2025
Credit Risk and Discontinuous Effects of Monetary Reverse Transactions,(with D. Voliotis), Revue d'Economie Politique, Volume 135, Number 4, 621 - 641,2025
Capital Flow Freezes,(with M. U. Peiris and A. Sokolova), Economic Theory, Volume 79, 853 - 887,2025
The Distributional Consequences of Green Capital Regulation,(with A. Khemka), mimeo, University of Oxford, Saïd Business School,2025
Monetary Policy in a Warming World: Balancing Price Stability and the Green Transition,(with Y. Tan and X. Wang), mimeo, University of Oxford, Saïd Business School,2025
Financial and real effects of pandemic credit policies: an application to Chile,(with L. Cabezas, J. Martinez and U. Peiris), Working Papers Central Bank of Chile 990,2025
Distressed Assets and Fiscal-Monetary Support: Are AMCs a Third Way?,(with R. Martin, E. O'Brien and U. Peiris), ECB Working Paper No. 2025/3023,2025
More publications »

Contact

Phone: +44.1865.288.932

E-Mail: dimitrios.tsomocos@sbs.ox.ac.uk

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Office address:
Saïd Business School
Park End Street
Oxford OX1 1HP
United Kingdom