Michael Ehrmann
Research
- Division
-
Monetary Policy Research
- Current Position
-
Head of Division
- Fields of interest
-
Macroeconomics and Monetary Economics, International Economics
Biography
- Other current responsibilities
- 2019-
Research Fellow, Centre for Economic Policy Research
- 2016-
Editorial Board of the ECB’s Research Bulletin (European Central Bank)
- 2016-
Member of Wim Duisenberg Fellow Selection Committee (European Central Bank)
- Education
- 1996-2000
PhD in Economics, European University Institute, Florence, Italy
- Professional experience
- 2016-
Head of Division - Monetary Policy Research Division, Directorate General Research, European Central Bank
- 2015-2016
Chief of Economic and Financial Research - Bank of Canada
- 2013-2015
Research Director - Bank of Canada
- 2000-2013
Various positions - Directorate General Research and Directorate General Economics, European Central Bank
- Teaching experience
- 2007-2012
Goethe University, Frankfurt, Germany
- 2006
Free University Berlin, Germany
ECB publications
- 19 May 2020
- 30 July 2019
- 15 April 2019
- 25 June 2018
- Economic Bulletin Issue ,
- 18 October 2017
- 21 June 2017
- 19 April 2017
- 22 February 2017
- 20 January 2017
- 12 March 2014
- 29 January 2014
- 15 April 2013
- 5 March 2013
- 13 December 2012
- 13 February 2012
- 12 September 2011
- 20 April 2011
- 21 January 2010
- 23 September 2009
- 18 August 2009
- 9 January 2009
- 14 May 2008
- 12 March 2008
- 23 February 2008
- 23 October 2007
- 18 October 2007
- 13 June 2007
- 17 November 2006
- 29 September 2006
- 1 June 2006
- 28 April 2006
- 22 February 2006
- 16 January 2006
- 22 December 2005
- 25 November 2005
- 23 May 2005
- 30 March 2005
- 16 March 2005
- 7 September 2004
- 3 June 2004
- 6 May 2004
- 27 April 2004
- 1 July 2003
- 1 December 2002
- 1 December 2001
- 1 July 2001
- 1 April 2001
- 1 May 2000
External publications
- 2020
- Journal of Money, Credit and BankingExploring Differences in Household Debt across Euro Area Countries and the United States
- 2020
- Journal of Monetary EconomicsStarting from a Blank Page? Semantic Similarity in Central Bank Communication and Market Volatility
- 2020
- Journal of Economic Policy ReformThe European Systemic Risk Board – Governance and Early Experience
- 2019
- Journal of Monetary EconomicsCan More Public Information Raise Uncertainty? The International Evidence on Forward Guidance
- 2017
- European Economic ReviewMacroeconomic Experiences and Risk-Taking of Euro Area Households
- 2017
- Journal of International Money and FinanceEuro Area Government Bonds—Fragmentation and Contagion During the Sovereign Debt Crisis
- 2017
- Economic PolicyNecessity as the Mother of Invention: Monetary Policy after the Crisis
- 2017
- Journal of Money, Credit and BankingHousehold Risk Management and Actual Mortgage Choice in the Euro Area
- 2017
- Journal of Money, Credit and BankingThe Pitch Rather Than The Pit: Investor Inattention During FIFA World Cup Matches
- 2017
- International Journal of Central BankingConsumers’ Attitudes and their Inflation Expectations
- 2016
- Review of FinanceIt Hurts (Stock Prices) When Your Team is About to Lose a Soccer Match
- 2015
- International Journal of Central BankingTargeting Inflation from Below – How do Inflation Expectations Behave?
- 2014
- Journal of FinanceThe Global Crisis and Equity Market Contagion
- 2014
- Journal of Banking and FinanceThe Pricing of G7 Sovereign Bond Spreads – The Times, They are A-Changin
- 2014
- Journal of International Money and FinanceThe Euro Exchange Rate during the European Sovereign Debt Crisis – Dancing to its own Tune?
- 2014
- Economic JournalCentral Bank Communication on Financial Stability
- 2013
- Public ChoiceDispersed Communication by Central Bank Committees and the Predictability of Monetary Policy Decisions
- 2013
- Scandinavian Journal of EconomicsExplaining EU Citizens’ Trust in the ECB in Normal and Crisis Times
- 2012
- International Journal of Central BankingThe News Content of Macroeconomic Announcements - What if Central Bank Communication Becomes Stale?
- 2012
- International FinanceCommunicating About Macroprudential Supervision – a New Challenge for Central Banks
- 2012
- Scandinavian Journal of EconomicsThe Role of Central Bank Transparency for Guiding Private Sector Forecasts
- 2012
- European Journal of Political EconomyMemories of High Inflation
- 2011
- Journal of Applied EconometricsStocks, Bonds, Money Markets and Exchange Rates: Measuring International Financial Transmission
- 2011
- Review of Economics and StatisticsPolitics and Monetary Policy
- 2011
- Journal of Money, Credit and BankingMonetary Policy in the Media
- 2011
- Journal of MacroeconomicsGeography, Skills or Both: What Explains Fed Watchers’ Forecast Accuracy of US Monetary Policy?
- 2011
- Review of Economics and StatisticsConvergence and Anchoring of Yield Curves in the Euro Area
- 2011
- German Economic ReviewInflation Developments and Perceptions After the Euro Cash Changeover
- 2009
- European Economic ReviewForecasting ECB Monetary Policy: Accuracy Is a Matter of Geography
- 2009
- Oxford Bulletin of Economics and StatisticsGlobal Financial Transmission of Monetary Policy Shocks
- 2009
- International Journal of Central BankingExplaining Monetary Policy in Press Conferences
- 2009
- Journal of Money, Credit and BankingPurdah – On the Rationale for Central Bank Silence Around Policy Meetings
- 2008
- Journal of Economic LiteratureCentral Bank Communication and Monetary Policy: A Survey of Theory and Evidence
- 2007
- Journal of Money, Credit and BankingCommunication and Decision-Making by Central Bank Committees: Different Strategies, Same Effectiveness?
- 2007
- International Journal of Central BankingTransparency, Disclosure and the Federal Reserve
- 2007
- European Journal of Political EconomyThe Timing of Central Bank Communication
- 2007
- The B.E. Journal of Macroeconomics (Topics)Euro Area Inflation Differentials
- 2006
- Journal of International Money and FinanceThe Exchange Rate – A Shock Absorber or Source of Shocks? A Study of 4 Open Economies
- 2006
- Journal of the European Economic AssociationNew Evidence on Inflation Persistence and Price Stickiness in the Euro Area: Implications for Macro Modelling
- 2005
- Economic JournalEqual Size, Equal Role? Interest Rate Interdependence Between the Euro Area and the US
- 2005
- Journal of International Money and FinanceExchange Rates and Fundamentals: New Evidence from Real-Time Data
- 2004
- Journal of the European Economic AssociationBank Networks and Monetary Policy Transmission
- 2004
- Journal of Money, Credit and BankingTaking Stock: Monetary Policy Transmission to Equity Markets
- 2003
- Economic PolicyMonetary Transmission in the Euro Area: Early Evidence
- 2003
- Journal of the European Economic AssociationMonetary Policy Transmission in the Euro Area – Evidence from Micro Data on Banks and Firms
- 2003
- International FinanceMonetary Policy Announcements and Money Markets: A Transatlantic Perspective
- 2003
- Oxford Review of Economic PolicyThe Effects of Monetary Policy in the Euro Area
- 2003
- Journal of Economic Dynamics and ControlUncertain Potential Output: Implications for Monetary Policy
- 2003
- Economics LettersRegime-Dependent Impulse Response Functions in a Markov-Switching Vector Autoregression Model
- 2000
- Weltwirtschaftliches ArchivComparing Monetary Policy Transmission Across European Countries
- 2018
- S. Eijffinger and D. Masciandaro (eds.), Hawks and Doves: Deeds and Words. Economics and Politics of Monetary PolicymakingMore, and more forward-looking: Central bank communication after the crisis
- 2018
- S. Eijffinger and D. Masciandaro (eds.), Hawks and Doves: Deeds and Words. Economics and Politics of Monetary PolicymakingCentral bank policies after the crisis
- 2013
- J.-E- Sturm and P. Siklos (eds.), Central Bank Communication, Decision Making and GovernanceExtreme Views Make News
- 2011
- S. Eijffinger and D. Masciandaro (eds.), Handbook of Central Banking, Financial Regulation and Supervision After the Financial CrisisHow Should Central Banks Deal with a Financial Stability Objective? The Evolving Role of Communication as a Policy Instrument
- 2009
- D. Mayes and G. Wood (eds.), Designing Central BanksDesigning a Central Bank Communication Strategy
- 2006
- H. Berger and T. Moutos (eds.), Designing the New European UnionReasons and Implications of Inflation Differentials in the European Monetary Union
- 2006
- L. Klein (ed.), Long-Run Growth and Short-Run Stabilization; Essays in Honor of Albert AndoMonetary Policy Transmission in the Euro Area: Any Changes After EMU?
- 2004
- Sturm, J.-E. and T. Wollmershäuser (eds.), Ifo Survey Data in Business Cycle and Monetary Policy AnalysisFirm Size and Monetary Policy Transmission: Evidence from German Business Survey Data
- 2003
- Angeloni, I., Kashyap, A. and B. Mojon (eds.), Monetary Policy Transmission in the Euro AreaFinancial Systems and the Role of Banks in Monetary Policy Transmission in the Euro Area
- 2002
- N. Loayza and K. Schmidt-Hebbel (eds.), Monetary Policy: Rules and Transmission MechanismsDoes Inflation Targeting Increase Output Volatility? An International Comparison of Policymakers' Preferences and Outcomes