Central Banking & Financial Stability

Financial crises often have severe knock-on effects, precipitating dislocation in the economy, in the political sphere, and in society at large. A primary responsibility of regulatory authorities is thus to ensure the resilience and stability of the financial system. Yet fulfilling this mandate requires regulators to take a big-picture approach comprising various domains of policy action, for the factors that can impact financial market stability are diverse and often mutually interdependent. These factors include the structures and processes that shape the behavior of financial-market institutions and service providers. In addition, regulators must consider how developments in financial markets interact with trends in the real economy as they monitor the impacts of monetary policy decisions. A crucial element of financial market stability is the work of central banks, which assume various macroprudential responsibilities as custodians of the currency. Accordingly, in addition to assessing monetary policy, House of Finance researchers study the ways that the mandate, governance mechanisms, and policy instruments of central banks affect financial market stability. Our research in the domain of central banking and financial stability leverages a unique blend of financial, macroeconomic, and legal expertise.

Activities at the House of Finance

02/13/25 | SAFE: Seminar

The supervisory response to the March 2023 bank runs has been criticized for excessive…

The supervisory response to the March 2023 bank runs has been criticized for excessive inertia, with regulatory forbearance often leading to worse losses and chaotic defaults, leaving…

02/12/25 | IMFS: Seminar

IMFS Working Lunch on the topic "Geopolitical Risk: Implications for Financial Stability".…

IMFS Working Lunch on the topic "Geopolitical Risk: Implications for Financial Stability". Hörsaalzentrum, HZ 13, Campus Westend, Goethe-Universität Frankfurt.

02/11/25 | Department of Finance: Seminar

We build a macro-finance model with an occasionally binding financing constraint where…

We build a macro-finance model with an occasionally binding financing constraint where real interest rates have opposite effects on current and future financial stability, with the…

02/07/25 | House of Finance: News

In his Public Lecture, Rui R. Esteves, currently Visiting Professor of Financial History…

In his Public Lecture, Rui R. Esteves, currently Visiting Professor of Financial History at the House of Finance, used a long-term data set to demonstrate the characteristics and framework…

01/30/25 | House of Finance: News

In her keynote speech at the House of Finance New Year's Retreat, Fritzi Köhler-Geib,…

In her keynote speech at the House of Finance New Year's Retreat, Fritzi Köhler-Geib, Member of the Executive Board of the Deutsche Bundesbank, highlighted the importance of research for her…

01/24/25 | ILF: Event

The Institute for Law and Finance’s 13th Conference on the Future of the Financial Sector…

The Institute for Law and Finance’s 13th Conference on the Future of the Financial Sector will be held on a hybrid basis on the Westend Campus of Goethe University in Frankfurt on Friday,…

Program area experts

Andreas Cahn

Andreas Cahn

Institute for Law and Finance Goethe-Universität Frankfurt
  • Gesellschaftsrecht
  • Kapitalmarktrecht
  • Rechtsvergleichung
Nicola Fuchs-Schündeln

Nicola Fuchs-Schündeln

Professor of Macroeconomics and Development, Programme Director for Macroeconomics and Growth at the CEPR
  • Macroeconomics
  • Labor Economics
  • Endogenous Preferences
Michael Haliassos

Michael Haliassos

Chair for Macroeconomics and Finance, Goethe University, IMFS, NETSPAR, CEPR
  • Macroeconomics
  • Finance
  • Household Finance
Florian Heider

Florian Heider

Sci. Director of the Leibniz Institute SAFE and Professor of Finance at Goethe University Frankfurt
  • Financial Intermediaries
  • Monetary Policy
  • Capital Structure of Companies
Christian Schlag

Christian Schlag

Goethe University Frankfurt (Finance Department) and Leibniz Institute for Financial Research SAFE
  • Asset pricing
  • Derivatives (options, futures)
  • Empirical capital market research
Mathias Trabandt

Mathias Trabandt

Goethe University Frankfurt
  • Macroeconomics
  • Monetary and Fiscal Policies
  • Epidemics
Volker Wieland

Volker Wieland

Chair of Monetary Economics, Managing Director of the Institute for Monetary and Financial Stability (IMFS)
  • Monetary and Fiscal Policy
  • Inflation and Business Cycles
  • Financial Markets