Dr Thomas Flavin

Economics, Finance and Accounting

Associate Professor

Rhetoric House
56
(01) 708 3369

Biography

Dr. Thomas Flavin is a senior lecturer in Finance. Thomas joined the Department of Economics, Finance and Accounting in 1998 after completing his D.Phil on 'Tactical Asset Allocation' at University of York, under the supervision of Michael Wickens. His main research interests are in financial market linkages and shock transmission, financial contagion, and in empirical models of asset allocation. He has published in leading peer-reviewed academic journals such as Journal of International Money and Finance, Economics Letters, Emerging Markets Review, Journal of Forecasting, International Review of Finance among others. He has held visiting positions at University of York, University of Cambridge and the Federal Reserve Bank of Atlanta.

Research Interests

Financial Contagion and Shock Transmission
I am particularly interested in the detection and measurement of financial contagion. Tests of the stability of the shock transmission mechanism across market conditions is an important issue in many issues in financial economics and a clear understanding is crucial for the development of appropriate policy responses.

Portfolio and Investment Management
I am also interested in measuring financial market co-movements and how diversification strategies perform during downturns and crises.

Macroeconomic influences on financial markets
The interaction of macroeconomic factors and financial market variables is another focus of my research. To what extent do macroeconomic influences drive financial market returns and co-movements?

Further details of research output is available at 
http://orcid.org/0000-0002-9469-5063

https://ideas.repec.org/e/pfl45.html


Peer Reviewed Journals

  Year Publication
2019 'On the stability of stock-bond comovements across market conditions in the Eurozone periphery'
Flavin, Thomas J. and Lagoa-Varela, Dolores (2019) 'On the stability of stock-bond comovements across market conditions in the Eurozone periphery'. Global Finance Journal, :1-16 [DOI] [Details]
2018 'Are banking shocks contagious? Evidence from the eurozone'
Dungey M.;Flavin T.;Lagoa-Varela D. (2018) 'Are banking shocks contagious? Evidence from the eurozone'. Journal of Banking and Finance, [DOI] [IR Link] [Details]
2017 'Reputation building and the lifecycle model of dividends'
Flavin, T., and T. O'Connor (2017) 'Reputation building and the lifecycle model of dividends'. Pacific Basin Finance Journal, 46 :177-190 [DOI] [IR Link] [Details]
2016 'Contagion in Eurozone sovereign bond markets? The good, the bad and the ugly'
Cronin D.;Flavin T.;Sheenan L. (2016) 'Contagion in Eurozone sovereign bond markets? The good, the bad and the ugly'. Economics Letters, 143 :5-8 [DOI] [Details]
2015 'The role of U.S. subprime mortgage-backed assets in propagating the crisis: contagion or interdependence?'
Flavin, Thomas J. and Lisa Sheenan (2015) 'The role of U.S. subprime mortgage-backed assets in propagating the crisis: contagion or interdependence?'. NORTH AMERICAN JOURNAL OF ECONOMICS AND FINANCE, 34 :167-186 [DOI] [IR Link] [Details]
2015 'Strategic, unaffordability and dual-trigger default in the Irish mortgage market'
Connor, G;Flavin, T (2015) 'Strategic, unaffordability and dual-trigger default in the Irish mortgage market'. Journal of Housing Economics, 28 :59-75 [DOI] [IR Link] [Details]
2014 'Identifying safe haven assets for equity investors through an analysis of the stability of shock transmission'
Flavin, Thomas J., Morley, C., and E. Panopoulou (2014) 'Identifying safe haven assets for equity investors through an analysis of the stability of shock transmission'. Journal of International Financial Markets, Institutions and Money, 33 :137-154 [DOI] [IR Link] [Details]
2013 'The Effects of Ownership Structure on Corporate Financing Decisions: Evidence from Stock Market Liberalization'
Flavin, T., and T. O'Connor. (2013) 'The Effects of Ownership Structure on Corporate Financing Decisions: Evidence from Stock Market Liberalization'. International Review of Finance, 13 :383-405 [DOI] [IR Link] [Details]
2013 'Systematic and Liquidity Risk in Subprime-Mortgage Backed Securities'
Dungey, M;Dwyer, GP;Flavin, T (2013) 'Systematic and Liquidity Risk in Subprime-Mortgage Backed Securities'. Open Economies Review, 24 (1):5-32 [DOI] [IR Link] [Details]
2012 'The U.S. and Irish Credit Crises: Their Distinctive Differences and Common Features'
Connor, Gregory, Thomas J. Flavin and Brian O'Kelly (2012) 'The U.S. and Irish Credit Crises: Their Distinctive Differences and Common Features'. Journal of International Money and Finance, 31 :60-79 [DOI] [IR Link] [Details]
2010 'Detecting shift and pure contagion in East Asian equity markets: a unified approach'
Flavin, Thomas J. and Ekaterini Panopoulou (2010) 'Detecting shift and pure contagion in East Asian equity markets: a unified approach'. Pacific Economic Review, 15 :401-421 [DOI] [IR Link] [Details]
2010 'The sequencing of stock market liberalization events and corporate financing decisions'
Flavin, T., and T. O'Connor. (2010) 'The sequencing of stock market liberalization events and corporate financing decisions'. Emerging Markets Review, 11 :183-204 [DOI] [IR Link] [Details]
2009 'Forecasting Growth and Inflation in an enlarged Euro area'
Flavin, Thomas J., Ekaterini Panopoulou and Theologos Pantelidis (2009) 'Forecasting Growth and Inflation in an enlarged Euro area'. Journal of Forecasting, 28 :405-425 [DOI] [IR Link] [Details]
2009 'Financial v Non-financial stocks: Time-varying correlations and risks'
Flavin, Thomas J. and Eirini Syngelaki (2009) 'Financial v Non-financial stocks: Time-varying correlations and risks'. Journal of Economic Asymmetries, 6 :71-92 [DOI] [IR Link] [Details]
2009 'On the robustness of international portfolio diversification benefits to regime-switching volatility'
Flavin, Thomas J. and Ekaterini Panopoulou (2009) 'On the robustness of international portfolio diversification benefits to regime-switching volatility'. JOURNAL OF INTERNATIONAL FINANCIAL MARKETS, INSTITUTIONS AND MONEY, 19 :140-156 [DOI] [IR Link] [Details]
2009 'Forecasting Growth and Inflation in an Enlarged Euro Area'
Flavin, T;Panopoulo, E;Pantelidis, T (2009) 'Forecasting Growth and Inflation in an Enlarged Euro Area'. Journal of Forecasting, 28 :405-425 [DOI] [IR Link] [Details]
2008 'On the stability of domestic financial market linkages in the presence of time-varying volatility'
Flavin, Thomas J. Ekaterini Panopoulou and Deren Unalmis (2008) 'On the stability of domestic financial market linkages in the presence of time-varying volatility'. EMERGING MARKETS REVIEW, 9 :280-301 [DOI] [IR Link] [Details]
2007 'Fiscal, Monetary Policy and the Conditional Risk Premium in short-term Real Interest Rate Differentials: An Application of Tobin’s Portfolio Theory'
Thomas J. Flavin and Michele G. Limosani (2007) 'Fiscal, Monetary Policy and the Conditional Risk Premium in short-term Real Interest Rate Differentials: An Application of Tobin’s Portfolio Theory'. INTERNATIONAL REVIEW OF ECONOMICS AND FINANCE, 16 :101-112 [DOI] [IR Link] [Details]
2006 'How risk averse are fund managers? Evidence from Irish mutual funds'
Flavin T. (2006) 'How risk averse are fund managers? Evidence from Irish mutual funds'. Applied Financial Economics, 16 (18):1355-1363 [DOI] [IR Link] [Details]
2006 'Optimal International Asset Allocation with Time-varying Risk'
Thomas J. Flavin and Michael R. Wickens (2006) 'Optimal International Asset Allocation with Time-varying Risk'. SCOTTISH JOURNAL OF POLITICAL ECONOMY, 53 :543-564 [DOI] [IR Link] [Details]
2006 'Real and Financial Aspects of Financial Integration'
Thomas J. Flavin, Brian Lucey and Svitlana Voronkova (2006) 'Real and Financial Aspects of Financial Integration'. Quarterly Review of Economics and Finance, 46 :315-316 [DOI] [IR Link] [Details]
2004 'The effect of the Euro on country versus industry portfolio diversification'
Flavin, TJ (2004) 'The effect of the Euro on country versus industry portfolio diversification'. Journal of International Money and Finance, 23 :1137-1158 [DOI] [IR Link] [Details]
2003 'Macroeconomic influences on optimal asset allocation'
Flavin T.;Wickens M. (2003) 'Macroeconomic influences on optimal asset allocation'. Review of Financial Economics, 12 (2):207-231 [DOI] [IR Link] [Details]
2002 'Explaining Stock Market Correlation: A Gravity Model Approach'
Thomas J. Flavin, Margaret Hurley and Fabrice Rousseau (2002) 'Explaining Stock Market Correlation: A Gravity Model Approach'. THE MANCHESTER SCHOOL, 70 :87-106 [DOI] [IR Link] [Details]
2000 'Fiscal Policy and the Term Premium in Real Interest Rate Differentials'
Thomas J. Flavin and Michele G. Limosani (2000) 'Fiscal Policy and the Term Premium in Real Interest Rate Differentials'. Applied Financial Economics, 10 :413-417 [DOI] [IR Link] [Details]

Book Chapters

  Year Publication
2019 'From Bulls to Bears: Stock-Bond Comovements in European Markets'
Thomas J. Flavin (2019) 'From Bulls to Bears: Stock-Bond Comovements in European Markets' In: Boubaker, Sabri and Nguyen, Duc Khuong (eds). Handbook of Global Financial Markets: Transformations, Dependence and Risk Spillovers. London: World Scientific Publishing Company. [DOI] [Details]
2017 'The Financial Sector'
Connor, Gregory, Flavin, Thomas, and Brian O'Kelly (2017) 'The Financial Sector' In: W.K.Roche, P.J. O'Connell and A. Prothero (eds). Austerity and Recovery in Ireland: Europe's Poster Child and the Great Recession. Oxford, UK: Oxford University Press. [DOI] [Details]
2011 'The effects of asymmetric volatility shocks on equity and foreign exchange rate interactions'
Flavin T.;Panopoulou E.;Pantelidis T.;Unalmis D. (2011) 'The effects of asymmetric volatility shocks on equity and foreign exchange rate interactions' In: Finance and Banking Developments. [Details]
2013 'International Investment Patterns'
Broome, Simon J. and Thomas J. Flavin (2013) 'International Investment Patterns' In: Baker, H.K. and L.A. Riddick (eds). International Finance: A Survey. New York: Oxford University Press. [DOI] [Details]
2009 'Dealing with East Asian equity market contagion: some policy implications'
Flavin, Thomas J and Panopoulou, Ekaterini (2009) 'Dealing with East Asian equity market contagion: some policy implications' In: Gregoriou, G.N (eds). Emerging Markets: Performance, Analysis and Innovation. London: Chapman-Hall/CRC/Taylor & Francis. [DOI] [Details]

Other Journals

  Year Publication
2012 'How Obama's policies may hurt investment in Ireland'
Dr Thomas J Flavin (2012) 'How Obama's policies may hurt investment in Ireland' The Journal.ie, 0 . [IR Link] [Details]
2010 'Credit Default Swaps on Government Debt: Mindless Speculation?'
Dwyer, Gerald P and Flavin, Thomas J (2010) 'Credit Default Swaps on Government Debt: Mindless Speculation?' Notes from the Vault, CENFIS, Federal Reserve Bank of Atlanta, :1-5. [IR Link] [Details]
2009 'Vintage and Credit Rating: What matters in the ABX data during the credit crunch?'
Dungey, M., Dwyer, G., and Thomas J Flavin (2009) 'Vintage and Credit Rating: What matters in the ABX data during the credit crunch?' Proceedings of the Federal Reserve Bank of San Francisco, 1 :1-35. [IR Link] [Details]

Conference Contributions

  Year Publication
2019 Invited Seminar, Queens University Belfast.
Thomas Flavin (2019) Invited Seminar, Queens University Belfast. [Oral Presentation], Industrials and Systemic Risk, Belfast , 13-NOV-19 - 13-NOV-19 [Details]
2018 Irish Academy of Finance Conference.
Thomas Flavin (2018) Irish Academy of Finance Conference. [Oral Presentation], Banks and Sovereigns: Did Adversity bring them closer?, Dunboyne Castle [Details]
2017 Invited Seminar, Universidad Alcala (UAH) Madrid.
Thomas Flavin (2017) Invited Seminar, Universidad Alcala (UAH) Madrid. [Oral Presentation], Are Banking Shocks Contagious? Evidence from the Eurozone, Alcala de Henares , 14-JUN-17 [Details]
2016 Irish Economic Association 30th Annual Conference.
Thomas Flavin (2016) Irish Economic Association 30th Annual Conference. [Oral Presentation], Are Banking Shocks Contagious? Evidence from the Eurozone, NUI Galway [Details]
2016 International Finance and Banking Society Conference.
Thomas Flavin (2016) International Finance and Banking Society Conference. [Oral Presentation], Are Banking Shocks Contagious? Evidence from the Eurozone, Barcelona [Details]
2015 New Financial Reality.
(2015) New Financial Reality. [Oral Presentation], Linkages Between Banks & Non-Financial Corporations During the Crisis: Contagion or Interdependence?, IPAG Business School, Nice [Details]
2013 NUIM-DCU Finance Conference.
(2013) NUIM-DCU Finance Conference. [Oral Presentation], Analysing Contagion from the U.S. Subprime-mortgage Market: A MS-VAR Approach, NUI Maynooth [Details]
2013 NUI Galway Invited Seminar Series.
(2013) NUI Galway Invited Seminar Series. [Oral Presentation], Systematic and Liquidity Risk in Subprime-mortgage Backed Securities, NUI Galway [Details]
2012 44th Annual Money Macro and Finance Conference.
(2012) 44th Annual Money Macro and Finance Conference. [Oral Presentation], Systematic and Liquidity Risk in Subprime Asset backed Securities, Trinity College Dublin [Details]
2011 12th Iberian-Italian Congress of Financial and Actuarial Mathematics.
(2011) 12th Iberian-Italian Congress of Financial and Actuarial Mathematics. [Oral Presentation], Systematic and Liquidity Risk in Subprime Mortgage Backed Assets, Lisbon [Details]
2010 XIX International Tor Vergata Conference on Money, Banking and Finance.
(2010) XIX International Tor Vergata Conference on Money, Banking and Finance. [Oral Presentation], The U.S. and Irish Credit Crises: Their Distinctive Differences and Common Features, Rome [Details]
2010 Midwest Finance Association 2010 Conference.
(2010) Midwest Finance Association 2010 Conference. [Oral Presentation], The sequencing of stock market liberalization events and corporate financing decisions, Las Vegas, NV [Details]
2010 Midwest Finance Association 2010 Conference.
(2010) Midwest Finance Association 2010 Conference. [Oral Presentation], Discussion of 'Determination of Corporate Ownership Concentration & its relation to Tunneling', Las Vegas NV [Details]
2010 8th INFINITI Conference on International Finance.
(2010) 8th INFINITI Conference on International Finance. [Oral Presentation], Credit and Liquidity Risk in Subprime Mortgage Backed Assets, Trinity College Dublin [Details]
2010 XIX International Tor Vergata Conference on Money, Banking and Finance.
(2010) XIX International Tor Vergata Conference on Money, Banking and Finance. [Oral Presentation], Discussion of 'Why Money Matters: A Fourth Natural Experiment', Rome [Details]
2010 8th INFINITI Conference on International Finance.
(2010) 8th INFINITI Conference on International Finance. [Oral Presentation], Discussion of 'Legal Regime, Size and Liquidity Factors in Asset Pricing', Trinity College Dublin [Details]
2010 EFA Seminars.
(2010) EFA Seminars. [Oral Presentation], Modelling the risk factors in US Subprime Mortgage backed assets, NUI Maynooth [Details]
2009 Conference on 'Regulating Systemic Risk', Centre for Financial Innovation and Stability.
(2009) Conference on 'Regulating Systemic Risk', Centre for Financial Innovation and Stability. [Oral Presentation], The U.S. and Irish Credit crises: Similarities and Differences, Federal Reserve Bank of Atlanta [Details]
2009 7th INFINITI conference on International Finance.
(2009) 7th INFINITI conference on International Finance. [Oral Presentation], Vintage and Credit Rating: What matters in the ABX data during the credit crunch?, Trinity College Dublin [Details]
2009 7th INFINITI Conference on International Finance.
(2009) 7th INFINITI Conference on International Finance. [Oral Presentation], Invited Discussion of 'Resolving the Price-Earnings Puzzle at the Macro Level', Trinity College Dublin [Details]
2003 Irish Economic Association.
Flavin, T (2003) Irish Economic Association. LIMERICK , 25-APR-03 - 25-APR-03 [Details]
2003 XII International Tor Vergata Conference on Banking and Finance.
Flavin, T (2003) XII International Tor Vergata Conference on Banking and Finance. [Oral Presentation], Tor Vergata, Rome , 10-DEC-03 - 12-DEC-03 [Details]
2001 Department of Economics Workshop.
Flavin, T. & M. Wickens (2001) Department of Economics Workshop. NUI, Maynooth , 11-JAN-01 - 11-JAN-01 [Details]
2001 University of Limerick Seminar.
Flavin, T (2001) University of Limerick Seminar. University of Limerick , 05-JAN-01 - 05-JAN-01 [Details]
2001 Irish Economic Association Annual Conference.
Flavin, Hurley and Rousseau (2001) Irish Economic Association Annual Conference. Portumna , 04-JAN-01 - 04-JAN-01 [Details]
1999 European Finance Association Annual Conference.
Flavin, T. & M. Wickens (1999) European Finance Association Annual Conference. HELSINKI , 27-AUG-99 - 29-AUG-99 [Details]
1998 ASSET Conference.
Flavin, T. & M. Wickens (1998) ASSET Conference. Bologna, Italy , 25-OCT-98 - 27-OCT-98 [Details]

Editorial

  Year Publication
2006 Real and financial aspects of financial integration.
Flavin T.;Lucey B.;Voronkova S. (2006) Real and financial aspects of financial integration. Editorial [DOI] [IR Link] [Details]

Thesis

  Year Publication
1999 Tactical Asset Allocation.
Thomas J Flavin (1999) Tactical Asset Allocation. University of York: Thesis [Details]

Working Paper

  Year Publication
2019 On the stability of stock-bond comovements across market conditions in the Eurozone periphery.
Flavin, Thomas J. and Lagoa-Varela, Dolores (2019) On the stability of stock-bond comovements across market conditions in the Eurozone periphery. Maynooth: Working Paper [Details]
2016 Do long-term bonds hedge equity risk? Evidence from Spain.
Flavin, T.J. and D. Lagoa-Varela (2016) Do long-term bonds hedge equity risk? Evidence from Spain. Maynooth: Working Paper [Details]
2016 Are Banking Shocks Contagious? Evidence from the Eurozone.
Flavin, T.J. and D. Lagoa-Varela (2016) Are Banking Shocks Contagious? Evidence from the Eurozone. Working Paper [IR Link] [Details]
2016 Contagion in Eurozone Sovereign Bond Markets? The Good, the Bad and the Ugly.
Cronin, D., Flavin, T.J. and L.S. Sheenan (2016) Contagion in Eurozone Sovereign Bond Markets? The Good, the Bad and the Ugly. Working Paper [IR Link] [Details]
2015 Restructuring and Recovery of the Irish Financial Sector: An Economic Case History.
Connor, Gregory, Thomas J Flavin and Brian O'Kelly (2015) Restructuring and Recovery of the Irish Financial Sector: An Economic Case History. Working Paper [IR Link] [Details]
2014 Identifying safe haven assets for equity investors through an analysis of the stability of shock transmission.
Flavin, Thomas J., Morley, C. and Panopoulou E. (2014) Identifying safe haven assets for equity investors through an analysis of the stability of shock transmission. Working Paper [IR Link] [Details]
2013 Irish Mortgage Default Optionality.
Connor, Gregory and Thomas J Flavin (2013) Irish Mortgage Default Optionality. Working Paper [IR Link] [Details]
2013 The effects of ownership structure on corporate financing decisions: evidence from stock market liberalizations.
Flavin, Thomas J. and O'Connor, Thomas (2013) The effects of ownership structure on corporate financing decisions: evidence from stock market liberalizations. Working Paper [IR Link] [Details]
2011 Systematic and Liquidity Risk in Subprime Mortgage Backed Assets.
Dungey, Mardi, Gerald Dwyer and Thomas J. Flavin (2011) Systematic and Liquidity Risk in Subprime Mortgage Backed Assets. Working Paper [IR Link] [Details]
2009 The Sequencing of stock market liberalization events and corporate financing decisions.
O'Connor, Thomas and Flavin, Thomas J. (2009) The Sequencing of stock market liberalization events and corporate financing decisions. Working Paper [IR Link] [Details]
2008 Forcasting Growth and Inflation in an Enlarged Euro Area.
Flavin, T., Panopoulou, E. and Pantelidis, T. (2008) Forcasting Growth and Inflation in an Enlarged Euro Area. Working Paper [IR Link] [Details]
2008 On the stability of domestic financial market linkages in the presence of time-varying volitility.
Flavin, T., Panopoulou, E. and Unalmis, D. (2008) On the stability of domestic financial market linkages in the presence of time-varying volitility. Working Paper [IR Link] [Details]
2008 Detecting shift and pure contagion in East Asian equity markets: a unified approach.
Flavin, T.J. and E. Panopoulou (2008) Detecting shift and pure contagion in East Asian equity markets: a unified approach. Working Paper [IR Link] [Details]
2007 On the robustness of international portfolio diversification benefits to regime-switching volatility.
Flavin, T. and Panopoulou, E. (2007) On the robustness of international portfolio diversification benefits to regime-switching volatility. Working Paper [IR Link] [Details]
2006 How Risk Averse are Fund Managers? Evidence from Irish Mutual Funds.
Flavin, T. (2006) How Risk Averse are Fund Managers? Evidence from Irish Mutual Funds. Working Paper [IR Link] [Details]
2004 The Effect of the Euro on Country Versus Industry portfolio Diversification.
Flavin, T. (2004) The Effect of the Euro on Country Versus Industry portfolio Diversification. Working Paper [IR Link] [Details]
2001 Explaining Stock Market Correlation: A Gravity Model Approach.
Flavin, T.J., Hurley, M.J. and Rousseau, F. (2001) Explaining Stock Market Correlation: A Gravity Model Approach. Working Paper [IR Link] [Details]

Conference Hosted

  Year Publication
2014 Financial Crises: Transmission and Recovery.
Thomas Flavin (2014) Financial Crises: Transmission and Recovery. Conference Hosted [Details]

Professional Associations

  Association Function From / To
Irish Economic Association Member 01-OCT-98 / 09-JAN-19

Committees

  Committee Function From / To
Scientific Committee of the International Conference in Applied Theory, Macro and Empirical Finance Program Advisor 2017 / 2017

Education

  Year Institution Qualification Subject
1999 University of York D.Phil Financial Economics
1995 NUI Maynooth M.A. Economics and Finance
1993 University of Limerick Bachelor of Business Studies Accounting and Finance

Languages

  Language Reading Writing Speaking
Spanish Basic Basic Basic
English Fluent Fluent Fluent

Reviews

  Journal Role
Journal Of International Money And Finance Referee
Economic And Social Review Referee
Journal Of Financial Stability Reviewer
Applied Financial Economics Referee
Finance Research Letters Referee
Journal Of Common Market Studies Referee
Journal Of Economic Studies Referee
Journal Of International Financial Markets, Institutions And Money Referee
Economic Modelling Referee
Journal Of Asian Economics Referee
European Journal Of Finance Referee
Ecological Economics Referee
Quantitative Finance Referee
Economic Journal Referee
Emerging Markets Review Referee

Teaching Interests

Current Modules:
FN308: Derivatives II: An Analysis of Options and Credit Derivatives
FN608A: Advanced Derivatives
FN615: Empirical Finance
FN655: 

Recent Postgraduates

  Graduation Student Name University Degree Thesis
2007 Thomas O'Connor Maynooth University Ph.D The effects of International Equity Cross-Listing on Investor Protection and Firm Value
2010 Eirini Syngelaki Maynooth University Ph.D Three Essays on International Financial Market Linkages
2014 Ciara Morley Maynooth University Ph.D Three Essays on identifying safe havens for equity investors
2014 Lisa Marie Sheenan Maynooth University Ph.D Four Essays Investigating the U.S. Subprime Mortgage-backed Securities Market