Jaroslav Horvath

Jaroslav Horvath

Associate Professor
Economics
Phone: (603) 862-0867
Office: Paul College, Room 341, Durham, NH 03824
Websites:
Curriculum Vitae
Jay (Jaroslav) Horvath is an Associate Professor of Economics at the University of New Hampshire. His work focuses on investigating the impact of international shocks, which often originate in the U.S., on business cycle and asset price fluctuations in emerging market economies. In addition, his research examines asset pricing under disaster risk characterized by low probability events with catastrophic consequences such as wars, financial crises, and pandemics.

Courses Taught

  • ECON 611: Inter Macroeconomic Analysis
  • ECON 635: Money and Banking
  • ECON 972: Macroeconomics I Lab
  • ECON 988: Graduate Economics Seminar

Education

  • Ph.D., Economics, Ohio State University
  • M.A., Economics, Ohio State University
  • M.S., Economics, East Carolina University
  • B.S., Economics, East Carolina University

Research Interests

  • Business Cycles/Crises
  • International Economics
  • Macroeconomics
  • Open Economy Macroeconomics

Selected Publications

  • Horvath, J., & Lahtinen, K. D. (2025). Cross-country gender bias and corporate cash holdings. Finance Research Letters, 75, 106820. doi:10.1016/j.frl.2025.106820

  • Germaschewski, Y., Horvath, J., & Rubini, L. (2024). How important are trend shocks? The role of the debt elasticity of interest rate. Journal of International Economics, 152, 103990. doi:10.1016/j.jinteco.2024.103990

  • Horvath, J., & Yang, G. (2024). Global Financial Risk, Equity Returns and Economic Activity in Emerging Countries. Oxford Bulletin of Economics and Statistics, 86(3), 672-689. doi:10.1111/obes.12595

  • Germaschewski, Y., Horvath, J., & Zhong, J. (2022). Oral interventions in the foreign exchange market: evidence from Australia. EMPIRICAL ECONOMICS, 62(6), 2713-2737. doi:10.1007/s00181-021-02112-5

  • Horvath, J., & Yang, G. (2022). Unemployment dynamics and informality in small open economies. EUROPEAN ECONOMIC REVIEW, 141. doi:10.1016/j.euroecorev.2021.103949

  • Horvath, J., & Rothman, P. (2021). Mortgage spreads, asset prices, and business cycles in emerging countries q. JOURNAL OF INTERNATIONAL MONEY AND FINANCE, 115. doi:10.1016/j.jimonfin.2021.102370

  • Germaschewski, Y., Horvath, J., & Rubini, L. (2021). Property rights, expropriations, and business cycles in China. JOURNAL OF ECONOMIC DYNAMICS & CONTROL, 125. doi:10.1016/j.jedc.2021.104100

  • Horvath, J. (2020). Macroeconomic disasters and the equity premium puzzle: Are emerging countries riskier?. JOURNAL OF ECONOMIC DYNAMICS & CONTROL, 112. doi:10.1016/j.jedc.2020.103852

  • Horvath, J. (2019). Isolating the disaster risk premium with equity options. JOURNAL OF EMPIRICAL FINANCE, 51, 138-148. doi:10.1016/j.jempfin.2019.02.005

  • Horvath, J. (2018). Business cycles, informal economy, and interest rates in emerging countries. JOURNAL OF MACROECONOMICS, 55, 96-116. doi:10.1016/j.jmacro.2017.10.002

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  • Most Cited Publications