Michael D. Bauer

Michael D. Bauer

Senior Research Advisor

Federal Reserve Bank of San Francisco

Welcome to my website! I am a research economist focusing on monetary economics, macro-finance and climate finance.

My research mainly studies the role of financial markets for the macroeconomy, monetary policy, and the green transition. I am particularly interested in understanding the effects of monetary policy on the yield curve and asset prices—including monetary policy surprises, forward guidance, monetary policy communication, quantitative easing, monetary policy uncertainty, and risks to the economic outlook. More recently I’ve been studying issues in climate economics and climate finance, including the pricing of climate risks.

CV ๐Ÿ”น Fed Website ๐Ÿ”น Google Scholar ๐Ÿ”น RePeC ๐Ÿ”น SSRN

Interests
  • Monetary Economics
  • Macro-Finance
  • Climate Finance
Education
  • Ph.D. in Economics, 2010

    University of California, San Diego

  • M.A. in Quant. Economics and Finance, 2005

    University of St. Gallen, Switzerland

  • B.A. in Economics, 2003

    University of St. Gallen, Switzerland

News

๐Ÿ“ข๏ธ Call for Papers: 9th Conference on Fixed Income Markets ๐Ÿ“ข

Together with the Bank of Canada and the Chicago Fed, we are organizing a Conference on Fixed Income Research and Implications for Monetary Policy, to be held in San Francisco on May 22-23, 2025. The focus will be on theoretical and empirical issues in fixed income research and how they relate to the conduct of monetary policy. Please send your submissions to fixed.income.conference@sf.frb.org by January 31, 2025.

๐Ÿ›๏ธ New SF Fed Center for Monetary Research ๐Ÿ›๏ธ

The Center for Monetary Research (CMR) is a new initiative launched by the San Francisco Fed that aims to improve our understanding of the links between monetary policy, financial markets, and the macroeconomy. Among the CMR data pages are three that make available updated estimates for some of my papers:

Current Work

Corporate Green Pledges โœจ***new!***โœจ
with Daniel Huber, Eric Offner, Marlene Renkel, and Ole Wilms

Green Stocks and Monetary Policy Shocks: Evidence from Europe
with Eric Offner and Glenn Rudebusch

FOMC Communication Events and Monetary Transmission
with Miguel Acosta, Andrea Ajello, Francesca Loria, and Silvia Miranda-Agrippino

Risk Appetite and the Monetary Transmission
with Maik Schmeling and Andreas Schrimpf

The Response of Prices to Monetary Policy: Firm-Level Evidence from Sweden
with Alexander Czarnota and Mathias Klein

Effects of Carbon Policies on Inflation Expectations
with Diego Kรคnzig and Glenn Rudebusch

Cross-Sectional Skewness in Interest Rate Surveys
with Mikhail Chernov

Seminars

SF Fed Macro-Finance Workshop

The CMR Macro-Finance Workshop is a quarterly meeting with our visiting scholars, featuring two presentations of macro-financial or monetary research.

Virtual Seminar on Climate Economics

The Virtual Seminar on Climate Economics is a bi-weekly online seminar by leading researchers in climate economics and climate finance. This online seminar series is open to everyone interested in research on the economics of climate change.

Disclaimer: The material on this website does not represent the views of the Federal Reserve Bank of San Francisco or the Federal Reserve System.