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