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Rünstler, Gerhard

Research

Division

Monetary Policy Research

Current position

Senior Lead Economist

Fields of interest

Macroeconomics and Monetary Economics,
Mathematical and Quantitative Methods

Email

gerhard.ruenstler@ecb.europa.eu

Education
  • 1990-1992
    Postgraduate Studies in Econometrics, Institute for Advanced Studies, Vienna
  • 1982-1988
    PhD Social Sciences, University of Graz
  • 1980-1986
    MSc Mathematics, Technical University Graz
Professional experience
  • 2009-2012
    Austrian Institute for Economic Research, 2009-2012
  • 1999-2003
    Economist, European Central Bank, 1999-2003
  • 2003
    Principal Economist, European Central Bank, since 2003
  • 1998-1999
    Economist, Austrian National Bank, 1998-1999
  • 1992-1998
    Assistant Professor at Institute for Advanced Studies, Vienna, 1992-1998
Teaching experience
  • 2009
    International Economics at University of Applied Sciences Vienna 2009
  • 1995-1998
    Econometrics I at Institute for Advanced Studies 1995-1998
  • 1996-1998
    Tutorials in time series analysis at Vienna Business School 1996-1998
Awards
  • 2009
    Isaac Kerstenetzky Award, CIRET conference 2009, New York

ECB Working Paper Series

2020
Rünstler, Gerhard, Bräuer, Leonie
Monetary policy transmission over the leverage cycle: evidence for the euro area
No 2421
Budnik, Katarzyna, Rünstler, Gerhard
Identifying SVARs from sparse narrative instruments: dynamic effects of U.S. macroprudential policies
No 2353
2016
Rünstler, Gerhard, Vlekke, Marente
Business, housing and credit cycles
No 1915
Rünstler, Gerhard
On the design of data sets for forecasting with dynamic factor models
No 1893
Rünstler, Gerhard
Network Dependence in the Euro Area Money Market
No 1887
2008
Angelini, Elena, Rünstler, Gerhard, Bańbura, Marta
Estimating and forecasting the euro area monthly national accounts from a dynamic factor model
No 953
Angelini, Elena, Camba-Méndez, Gonzalo, Rünstler, Gerhard, Giannone, Domenico, Reichlin, Lucrezia
Short-term forecasts of euro area GDP growth
No 949
2007
Rünstler, Gerhard, Bańbura, Marta
A look into the factor model black box: publication lags and the role of hard and soft data in forecasting GDP
No 751
2003
Rünstler, Gerhard, Sédillot, Franck
Short-term estimates of euro area real GDP by means of monthly data
No 276
2002
Rünstler, Gerhard
The information content of real-time output gap estimates, an application to the euro area
No 182

ECB Occasional Paper Series

2018
WGEM Team on Real and Financial Cycles

Rünstler, Gerhard, Balfoussia, Hiona, Burlon, Lorenzo, Buss, Ginters, Comunale, Mariarosaria, De Backer, Bruno, Dewachter, Hans, Guarda, Paolo, Haavio, Markus, Hindrayanto, Irma, Iskrev, Nikolai Ivanov, Jaccard, Ivan, Kulikov, Dmitry, Kunovac, Davor, Lenarcic, Crt, Lequien, Matthieu, Lozej, Matija, Mandler, Martin, Papageorgiou, Dimitris, Pedersen, Jesper, Perez-Quiros, Gabriel, Rannenberg, Ansgar, Rots, Eyno, Scharnagl, Michael, Welz, Peter

Real and financial cycles in EU countries - Stylised facts and modelling implications
No 205
2017
Beyer, Andreas, Nicoletti, Giulio, Papadopoulou, Niki, Papsdorf, Patrick, Rünstler, Gerhard, Schwarz, Claudia, Sousa, João, Vergote, Olivier
The transmission channels of monetary, macro- and microprudential policies and their interrelations
No 191
2008
Van Nieuwenhuyze, Christophe, Ruth, Karsten, Rua, António, Jelonek, Piotr, Jakaitiene, Audrone, Den Reijer, Ard, Cristadoro, Riccardo, Rünstler, Gerhard, Benk, Szilard, Barhoumi, Karim
Short-term forecasting of GDP using large monthly datasets: a pseudo real-time forecast evaluation exercise
No 84

ECB Research bulletin

2016
Rünstler, Gerhard
How distinct are financial cycles from business cycles?
No 26

Journal publications

2018
G. Rünstler and M. Vlekke
Business, housing, and credit cycles
Journal of Applied Econometrics 33(2), 212-226
2016
G Rünstler
Network dependence in the euro area money market
Journal of Computational Economics and Econometrics 6(3), 294-314
G. Rünstler
On the design of data set for forecasting with dynamic factor models
Hillebrand and Koopman, Advances in Econometrics, Vol 35, Emerald Publishing
2011
Angelini, E., G. Camba-Mendez, D. Giannone, L. Reichlin, G. Rünstler
Short-term forecasts of euro area GDP growth
Econometrics Journal 14(1), C25-C44.
M. Banbura and G. Rünstler
A look into the factor model black box: Publication lags and the role of hard and soft data in forecasting GDP
International Journal of Forecasting 27(2), 333-46.
2010
E. Angelini, M. Banbura, G. Rünstler
Estimating and forecasting the euro area national accounts from a dynamic factor model
Journal of Business Cycle Measurement and Analysis 2010(1), 5-26
G. Rünstler et al.
Short-term forecasting of GDP using large data sets: a pseudo real-time forecast evaluation exercise
Journal of Forecasting 28(7), 595-611
2004
G. Rünstler
Modelling phase shifts among stochastic cycles
Econometrics Journal 7, 232-48.
2000
H. Hofer, G. Rünstler, T. Url
The dynamic effects of aggregate supply and demand disturbances: further evidence
Applied Economics Letters 7(1), 25-28
1999
A. Jumah, S. Karbuz, G. Rünstler
Interest rate differentials, market integration, and the efficiency of commodity futures markets
Applied Financial Economics 9, 101-108

Other publications

2016
Ruenstler, G.
On the design of data set for forecasting with dynamic factor models
Advances in Econometrics Vol 25