Macro Finance

Research in the Macro Finance department focuses on the interaction between financial markets, credit institutions, and the macroeconomy. Changes in credit conditions can shape the allocation of capital in the economy and thus affect investment, consumption, and economic growth. These interactions can amplify economic fluctuations and, in times of stress, contribute to financial crises with far-reaching consequences for firms, households, and governments. The key question is: What should a financial system look like that can help achieve societal goals, such as an increase in living standards, while avoiding financial crises? The department’s work combines macroeconomic and microeconomic perspectives, often constructing novel datasets that also benefit the public at large. The goal is to ultimately better understand how financial markets interact with the real economy and to inform policy decisions.


Publications

Author/s Title Area Type Published
Stine Louise Daetz, Marti Subrahmanyam, Dragon Yongjun Tang, Sarah Qian Wang Can Central Banks Boost Corporate Investment? Evidence from the ECB Liquidity Injections
Financial Markets, Macro Finance Other Publications 2019
Tina Koziol, Jesper Riedler, Joeri Schasfoort Euro Area Quantitative Easing in a Portfolio Balance Model with Heterogeneous Agents and Assets
Financial Markets, Macro Finance Other Publications 2019
Zhiwu Hong, Linlin Niu An Arbitrage-Free Yield Net Model with Application to the Euro Debt Crisis
Financial Markets, Macro Finance Other Publications 2019
Ester Faia, Vincenzo Pezone The Heterogeneous Cost of Wage Rigidity: Evidence and Theory
SAFE Working Paper No. 242
Macro Finance SAFE Working Paper 2019
Kunka Petkova, Alfons J. Weichenrieder Grunderwerbsteuer: Eine Steuer für das 21. Jahrhundert?
White Paper No. 58
Macro Finance Policy Paper 2019
Johannes Kasinger, Lukas Nöh, Alfons J. Weichenrieder Zinsänderungsrisiken und langfristige Zinsbindung vor dem Hintergrund der hessischen Zinsswaps
Perspektiven der Wirtschaftspolitik
Macro Finance Published Paper 2019
Matthias Max Nagel, Matthias Thiemann Shifting Frames of the Expert Debate: Quantitative Easing, International Macro-Finance and the Potential Impact of Post-Keynesian Scholarship
Financial Markets, Macro Finance Other Publications 2019
Henning Hesse, Boris Hofmann, James Weber The Macroeconomic Effects of Asset Purchases Revisited
Journal of Macroeconomics
Macro Finance Published Paper 2018
Paul Gortner, Baptiste Massenot Leverage and Bubbles: Experimental Evidence
SAFE Working Paper No. 239
Macro Finance SAFE Working Paper 2018
Baptiste Massenot Pain of Paying in a Business Cycle Model
SAFE Working Paper No. 194
Macro Finance SAFE Working Paper 2018

Current Research Team

Researcher Position
Dal Cero, Riccardo Research Assistant
Kaas, Leo SAFE Fellow
Ludwig, Alexander SAFE Fellow
Müller, Karsten Professor
Nölke, Andreas SAFE Fellow
Weichenrieder, Alfons J. SAFE Fellow