Welcome to my website! I am a research economist at the Federal Reserve Bank of San Francisco, which is part of the Federal Reserve System, the central bank of the United States. In addition, I am a research fellow at CEPR, CESifo, and the IMFS. I am currently on leave from the University of Hamburg.
My research focuses on the role of financial markets for the macroeconomy, monetary policy, and climate change. 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 working on social discount rates, the social cost of carbon and climate finance.
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- Monetary Economics
- Asset Pricing
- Climate Finance
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
Current Work
The Effect of U.S. Climate Policy on Financial Markets: An Event Study of the Inflation Reduction Act
with Eric Offner and Glenn Rudebusch, Brookings Working Paper, September 2023.
Perceptions about Monetary Policy
with Carolin Pflueger and Adi Sunderam, NBER Working Paper, December 2022.
Climate Policy Curves: Linking Policy Choices to Climate Outcomes
with Martin Hänsel, Moritz Drupp, Gernot Wagner and Glenn Rudebusch, CEPR
Discussion Paper, November 2022.
Cross-Sectional Skewness in Survey Forecasts
with Mikhail Chernov
Risk Appetite and the Monetary Transmission
with Maik Schmeling and Andreas Schrimpf
The Financial Market Response to Green Firm Announcements
with Daniel Huber, Eric Offner, Marlene Renkel, and Ole Wilms
Changes in the Green Bond Premium
with Kerstin Lopatta, Thomas Tammen, and Ole Wilms
Seminars
Virtual Seminar on Climate Economics
The Virtual Seminar on Climate Economics is an online seminar series open to everyone
interested in research on the economics of climate change.
More information here.