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 |
|---|---|---|---|---|
| Michael Haliassos |
Salary Cuts and Competitiveness Policy Letter No. 1 |
Macro Finance | Policy Paper | 2013 |
| Dirk Bursian, Ester Faia |
Trust in the Monetary Authority SAFE Working Paper No. 14 |
Macro Finance | SAFE Working Paper | 2013 |
| Marcel Bluhm, Ester Faia, Jan Pieter Krahnen |
Endogenous Banks’ Networks, Cascades and Systemic Risk SAFE Working Paper No. 12 |
Macro Finance, Systemic Risk Lab | SAFE Working Paper | 2013 |
| Ignazio Angeloni, Ester Faia, Marco Lo Duca |
Monetary Policy and Risk Taking SAFE Working Paper No. 8 |
Macro Finance | SAFE Working Paper | 2013 |
| Matthieu Darracq Pariès, Ester Faia, Diego Rodriguez Palenzuela |
Bank and Sovereign Debt Risk Connection SAFE Working Paper No. 7 |
Macro Finance, Systemic Risk Lab | SAFE Working Paper | 2013 |
| Alfons J. Weichenrieder |
Euro Membership and Fiscal Reaction Functions SAFE Working Paper No. 18 |
Macro Finance | SAFE Working Paper | 2013 |
| Dirk Bursian, Alfons J. Weichenrieder |
Trust in Government and Fiscal Adjustments SAFE Working Paper No. 22 |
Macro Finance, Systemic Risk Lab | SAFE Working Paper | 2013 |
| Iñaki Aldasoro, Ignazio Angeloni |
Input-Output-Based Measures of Systemic Importance SAFE Working Paper No. 29 |
Macro Finance, Systemic Risk Lab | SAFE Working Paper | 2013 |
| Dirk Bursian, Markus Roth |
Optimal Policy and Taylor Rule Cross-Checking Under Parameter Uncertainty SAFE Working Paper No. 30 |
Macro Finance | SAFE Working Paper | 2013 |
| Dirk Bursian, Sven Fürth |
Trust Me! I am a European Central Banker SAFE Working Paper No. 31 |
Macro Finance, Systemic Risk Lab | SAFE Working Paper | 2013 |
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