His research interests cover various fields as Empirical Asset pricing, Banking, and International Finance. He has a special interest in linking macro and financial models, (better) understanding “stress periods”, such as flight-to-safety/liquidity and contagion episodes, global asset allocation strategies, methods to measure time-varying volatility, correlation, and downside risk, the value of alternative preferences (such as Cumulative Prospect Theory) for solving asset pricing puzzles (e.g. the high Variance Risk Premium), the interaction between bank strategy and risk, and more recently, Islamic banking. Lieven has served as a consultant to several policy institutes, such as the ECB and the European Commission, as well as to several financial firms.Lieven teaches courses on Risk Management, Global Asset Allocation, and International Corporate Finance at various institutions.