Stefan Gerlach

Stefan Gerlach

Professor of Monetary Economics and Managing Director, Institute for Monetary and Financial Stability
(Department of Money and Macroeconomics)
Goethe University of Frankfurt
House of Finance
Grüneburgplatz 1 (Box H 12)
60629 Frankfurt am Main, Germany
For email address, click here.

(Photos for journalists: 1, 2 and 3.)

Administrative Assistant: Mrs Gabriele Zinn. For email address, click here.

Tel.: +49 69 798 34500

Fax: + 49 69 798 34502

Please note that it is much easier to reach me per email than over the phone.

Recent (unpublished) academic work:

Inflation targeting and inflation persistence: What is different in Asia? (With P. Tillmann.) September 2010.
The zero lower bound, ECB interest rate policy and the financial crisis. (With J. Lewis.) July 2010.
Banking and sovereign risk in the euro area. (With A. Schulz and G.B. Wolff.) May 2010.
Financial structure and the impact of monetary policy on property prices. (With K. Assenmacher-Wesche.) April 2010.
ECB repo rate setting during the financial crisis. April 2010.
Monetary policy, asset prices and macroeconomic conditions: A panel-VAR study. (With K. Assenmacher-Wesche.) October 2008.
The term structure of interest rates across frequencies. (With K. Assenmacher-Wesche.) May 2008.
Deflation and price dispersion: Evidence from Japan and Hong Kong. (With P. Kugler.) September 2007.

To download older and published papers, click here.

Recent policy work:

The Crisis Management Framework: What follows after the EFSF and the EFSM? August 2010. (Prepared for European Parliament.)
A credible Stability and Growth Pact: Raising the bar for budgetary transparency, (with M. Burda) in Completing the Eurozone Rescue: What More Needs to be Done? Ed. by R. Baldwin and D. Gros, VoxEU and CEPR, 2010.
Are the Golden Years of central banking over? Monetary policy after the crisis. May 2010. Prepared for the 38th Economics Conference of the Austrian National Bank.
Asset Prices and Monetary Policy: Some Skeptical Observations, in M. Balling, J. M. Berc and M.-O. Strauss-Kahn, eds., The Quest for Stability: The Macro View, Vienna, SUERF, 2010.
The Greek Sovereign Debt Crisis and ECB Policy, June 2010. (Prepared for European Parliament.)
The future development of global imbalances, March 2010. (Prepared for European Parliament.)
Defining and measuring systemic risk, November 2009. (Prepared for European Parliament.)
Are the Golden Years of Central Banking Over? (With A. Giovannini, C. Tille and J. Viñals.) Geneva Report on the World Economy 10, ICMB and CEPR, July 2009.
The risk of deflation. In Macroeconomic Stability and Financial Regulation: Key Issues for the G20, ed. by M. Dewatripont, X. Freixas and R. Portes, CEPR 2009.

Blogs and Newspaper articles:

Unschuldung wäre Chance für Griechenland, Börsen-Zeitung, 17 August, 2010.
Makroprudentielle Politik zur Stabilisierung der Finanzmärkte, Ökonomenstimme, 10 August, 2010.
ECB interest rate policy and the “zero lower bound.” (With J. Lewis.) VoxEU, 27 July, 2010. Also published as: Die Zinspolitik der EZB und die "Null-Prozent-Untergrenze.“ Ökonomenstimme, 4 August, 2010.
Despite risk of valuation losses, SNB logic is right, Letter to the Editor, Financial Times, 26 July, 2010.
Das Dilemma der SNB, 14 July, 2010, Finanz und Wirtschaft.
Schuldenberge bringen EZB in die Bredouille. Börsen-Zeitung, 18 June, 2010.
Den Stabilitätspakt stärken: Staatsschulden besteuern. Börsen-Zeitung, 14 May, 2010.
Noch haben wir die Krise nicht gebannt. (With M. Burda) Handelsblatt, 11 May, 2010. A longer version is published as Greek Lessons in VoxEU, 11 May, 2010, as Griechische Lektionen, Oekonomenstimme, 14 May, 2010, as Quelle réforme pour le Pacte de stabilité? in Telos, 19 May, 2010, and as Esquisse d’un nouveau Pacte de stabilité, Le Temps, 21 May, 2010.
G20 and macroprudential policy. Bruegel G20 Blog, 21 April, 2010.
Frühwarn- und Überwachungssystem zur Stabilisierung der Finanzmärkte, Neue Zürcher Zeitung, 16 April, 2010.
Germany's role in the Greek drama, Letter to the editor, Financial Times, 12 April, 2010.
Anheben des Inflationsziels wäre werherrend, Interview, Börzen-Zeitung, 1 April, 2010.
Zur Stärkung der Deutschen Bundesbank. (With E. Yoo), Ökonomenstimme, 22 March, 2010.
Nicht die Geldpolitik was Auslöser der Finanzkrise, Börsen-Zeitung, 2 Dec. 2009.
Research backs up how often central banks should meet, Letter to the editor, Financial Times, 5 August, 2009.
Are the golden years of central banking over? (With A. Giovannini and C. Tille.) VoxEU, 17 July, 2009.
Finanzvariablen in in Modelle der Geldpolitik aufnehmen, Börsen-Zeitung, 14 February, 2009.
Unnötige Kratzer an der Glaubwürdigkeit, Financial Times Deutschland, 25 August, 2008.
Should central banks publish their interest rate forecasts? Eurointelligence, 30 June, 2008.
Insight not lost on Chinese authorities, Letter to the editor, Financial Times, 24 June, 2008.
Can monetary policy really be used to stabilise asset prices? (With K. Assenmacher-Wesche.) VoxEU, 12 March, 2008.
A pragmatic view of money, Eurointelligence, 10 October, 2007.
Langfristig bestimmt Geld die Inflation. Börsen-Zeitung, Mittwoch, 10 May, 2006.

Other stuff:

My 2010 Handesblatt ranking is available here.
Comments on monetary policy.
The subprime crisis explained. This is very funny.
Monetary Policy in Small Financial Centres. Public lecture given on the occasion of the 40th anniversary of the Bank of Mauritius, 25 October, 2007.

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