Research topics of this chair are:

1. Monetary Economics and International Finance

• International monetary system, international debt and international investment positions.
• European Monetary Union.
• Lender of Last Resort function of the central bank, monetary stabilization at times of crises, coordination of expectations and beliefs.

2. Financial Markets and the Macroeconomy

• Incompleteness and imperfections in financial intermediation, non-convexities; multiple stationary states and indeterminate dynamic equilibria, coordination failures of private agents; financial crises and debt deflation. 

3. Growth and Business Cycle Theory

• Convergence and catching-up, real and financial stability of dynamic adjustment processes, business cycle shocks and transmission mechanisms. 
• Human capital accumulation, technological progress, and dynamics of structural unemployment