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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


The University for the Information Society