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Faculty of Management, Economics and Social SciencesCenter for Economic Research (CER)

Prof. Michael Krause, Ph.D.

CER (Building 415)
Office 3.427 (Entrance B, Orange, 3rd Floor)
Sibille-Hartmann-Straße 2–4
50969 Köln

Email: michael.krauseSpamProtectionwiso.uni-koeln.de
Phone: +49 221 470 5725

Director of the Institute for Economic Policy (Institut für Wirtschaftspolitik an der Universität zu Köln, iwp)
Vice Dean for Research at the Faculty of Management Economics and Social Sciences

Office: office-cmrSpamProtectionwiso.uni-koeln.de
Office hours by appointment

Research Focus

Business Cycle Macroeconomics, Monetary and Fiscal Policy, and Labor Markets and Unemployment

Curriculum Vitae

  • Since 2013 Professor (W3) of Macroeconomics at the Faculty of Business Administration, Economics and Social Sciences, University of Cologne
  • 2005 - 2013 Senior Research Economist at the Deutsche Bundesbank, Frankfurt/M.
  • 2005 - 2010 Visiting Lecturer at Goethe University Frankfurt (2010), Tel Aviv University, Israel (2009), Visiting Researcher at Tokyo University, Japan (2008), Federal Reserve Bank of Kansas City, USA (2005) and Federal Reserve Bank of Richmond, USA
  • 1999 - 2005 Assistant Professor of Economics, Tilburg University, Netherlands
  • 2003 Visiting Assistant Professor, The Johns Hopkins University, Baltimore, USA
  • 1994 - 1999 Doctoral programme in Economics, Yale University, New Haven, U.S.A.
  • 1989 - 1994 Diploma in Economics (VWL) at the Rheinische-Friedrich-Wilhelms-University, Bonn, Germany

Working Papers

  • "International Capital Flows, External Assets, and Output Volatility", with Mathias Hoffmann and Peter Tillmann, Deutsche Bundesbank Discussion Paper, vol. 30/2014, revise and resubmit, Journal of International Economics.
  • "Modeling Labor Markets in Macroeconomics: Search and Matching", with Thomas A. Lubik, Federal Reserve Bank of Richmond Working Paper, vol. 14/19, 2014.
  • "On-the-job Search and the Cyclical Dynamics of the Labor Market", with Thomas A. Lubik, Bundesbank Discussion Paper, vol. 15/2007, 2009.

Publications

  • "The Expectation-driven U.S. Current Account Imbalance", with Mathias Hoffmann (Deutsche Bundesbank) and Thomas Laubach (Federal Reserve Board), Deutsche Bundesbank Discussion Paper, vol. 10/2013, forthcoming The Economic Journal 2017.
  • "Public Debt and Changing Inflation Targets", with Stephane Moyen (Deutsche Bundesbank), American Economic Journal: Macroeconomics 8(4), pp. 142-76. 2016.
  • "Transitions in the German Labor Market: Structure and Crisis", with Harald Uhlig (University of Chicago), Journal of Monetary Economics 59(1), pp. 64-79, 2012.
  • "Trend Growth Expectations and U.S. House Prices Before and After the Crisis", with Mathias Hoffmann (Deutsche Bundesbank) and Thomas Laubach (Federal Reserve Board), Journal of Economic Behavior and Organization 83(3), pp. 394-409, 2012.
  • "Some Macroeconomic and Monetary Policy Implications of New Micro Evidence on Wage Dynamics", with G. De Walque, J. Jimeno, H. Le Bihan and S. Millard, F. Smets, Journal of the European Economic Association 8(2-3), pp. 506-513, 2010.
  •  "Inflation Dynamics with Search Frictions: A Structural Econometric", with David Lopez-Salido (Federal Reserve Board) and Thomas A. Lubik (Federal Reserve Bank of Richmond), Journal of Monetary Economics, vol. 55, pp. 892-916, 2008.
  •  "Do Search Frictions Matter for Inflation Dynamics?", with David Lopez-Salido (Federal Reserve Board) and Thomas A. Lubik (Federal Reserve Bank of Richmond), European Economic Review, vol. 52, pp. 464-1479, 2008.
  • "The (Ir)relevance of Real Wage Rigidity in the New Keynesian Model", with Search Frictions and Thomas A. Lubik (Federal Reserve Bank of Richmond), Journal of Monetary Economics, vol. 54, pp. 706-727, 2007.
  • "The Cyclical Upgrading of Labor and On-the-Job Search", with Thomas A. Lubik (Federal Reserve Bank of Richmond), Labour Economics 13(4), pp. 459-77, 2006.

Non-refereed Publications

  • "Does Intra-Firm Bargaining Matter for Business Cycle Dynamics?", with Thomas Lubik (Federal Reserve Bank of Richmond), Economic Quarterly 99(3), pp. 229-250, 2013.
  •  "Instability and Indeterminacy in Search and Matching Models", with Thomas A. Lubik (Federal Reserve Bank of Richmond), Economic Quarterly 96(3), pp. 259-272, 2010.