Job Market Candidates 2024/25
Ph.D. Program in Economics

Education

Ph.D., Economics, Goethe University Frankfurt, GSEFM program, 2025 (expected)
M.Sc., Economics, Technical University of Dresden, 2016

B.Sc., Business Informatics, Technical University of Dresden, 2014

Fields of Specialization

Primary Fields: Monetary Policy, Macrofinance
Secondary Fields: Financial Intermediation, Social Preferences, Political Economy, Digital Currencies

Teaching Areas

Macroeconomics, Monetary Economics

Curriculum Vitae

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References

JOB MARKET PAPER:

Populism, Institutional Trust, and Monetary Policy: A Firm-Level Analysis

This paper examines how populism influences the transmission of monetary policy to firms’ credit demand. Using credit-registry data from Germany and voter shares for the populist party AfD from the 2017 and 2021 federal elections, I find that firms in districts with higher AfD voter shares exhibit weaker adjustments in credit demand in response to both tightening and easing monetary policy shocks. Firm survey data reveal that low trust in the ECB is associated with similarly muted credit demand responses, highlighting trust as a potential channel through which populism impacts monetary policy transmission. Inflation expectations also play an essential role. 

Firms in high-populism districts or with low central bank trust report higher inflation expectations and show smaller adjustments in response to monetary policy shocks. Based on evidence of distinct media consumption patterns among AfD supporters, I investigate AfD-affiliated media, particularly tweets, and find that these sources fail to convey accurate information on current monetary policy, potentially contributing to biased perceptions. To rationalize these findings, I extend a New Keynesian model to incorporate biased perceptions of monetary policy. The model demonstrates how distorted perceptions weaken policy transmission and exacerbate adverse shocks, posing significant challenges for central banks aiming to sustain policy effectiveness in environments marked by strong populist sentiment.

WORKING PAPERS & WORK IN PROGRESS

Monetary Policy in the Age of Social Media: A Twitter-Based Inflation Analysis (with Benjamin Born, Hrishbh Dalal, Jana-Lynn Schuster, and Sascha Steffen)

The Asymmetric and Persistent Effects of Fed Policy on Global Bond Yields (with Tobias Adrian, Gaston Gelos, and Emanuel Moench), BIS Working Paper No. 1195

CBDC, Monetary Policy Implementation, and the Interbank Market (with Tobias Linzert and Cyril Monnet)

A Unified Framework for CBDC Design: Remuneration, Collateral Haircuts, and Quantity Constraints (with Katrin Assenmacher, Aleksander Berentsen, and Claus Brand), ECB Working Paper No. 2578

Effects of Central Bank Communication on Monetary Policy Transmission (with Maximilian Duesterhoeft)