Ehrmann, Michael


Functions:

  • Head of Monetary Policy Research Division

Fields of interest:

  • Monetary Economics
  • Macroeconomics
  • Macroeconometrics

Education:

  • PhD in Economics, European University Institute, 2000

Professional experience:

  • Chief of Economic and Financial Research, Bank of Canada, 2015-2016
  • Research Director, Bank of Canada, 2013-2015
  • European Central Bank, various positions in DG Research and DG Economics, 2000-2013

Teaching experience:

  • Free University Berlin 2006, Goethe University Frankfurt 2007, 2009-2012
No. Title Authors
2080Communication of monetary policy in unconventional timesCoenen, Günter, Ehrmann, Michael, Gaballo, Gaetano, Hoffmann, Peter, Nakov, Anton, Nardelli, Stefano, Persson, Eric, Strasser, Georg
2047Necessity as the mother of invention: monetary policy after the crisisBlinder, Alan S., Ehrmann, Michael, de Haan, Jakob, Jansen, David-Jan
2023Starting from a blank page? Semantic similarity in central bank communication and market volatilityEhrmann, Michael, Talmi, Jonathan
1990Financial inclusion: what’s it worth?Ehrmann, Michael, Ampudia, Miguel
1652Macroeconomic experiences and risk taking of euro area householdsEhrmann, Michael, Ampudia, Miguel
1631Household risk management and actual mortgage choice in the euro areaEhrmann, Michael, Ziegelmeyer, Michael
1532The euro exchange rate during the European sovereign debt crisis - dancing to its own tune?Ehrmann, Michael, Osbat, Chiara, Stráský, Jan, Uusküla, Lenno
1520The pricing of G7 sovereign bond spreads: the times, they are a-changinEhrmann, Michael, D'Agostino, Antonello
1501Explaining EU citizens’ trust in the ECB in normal and crisis timesEhrmann, Michael, Stracca, Livio, Soudan, Michel
1424The pitch rather than the pit: investor inattention during FIFA world cup matchesEhrmann, Michael, Jansen, David-Jan
1381Global crises and equity market contagionEhrmann, Michael, Fratzscher, Marcel, Mehl, Arnaud, Bekaert, Geert
1332Central bank communication on financial stabilityEhrmann, Michael, Fratzscher, Marcel, Born, Benjamin
1146The role of central bank transparency for guiding private sector forecastsEhrmann, Michael, Eijffinger, Sylvester, Fratzscher, Marcel
1095Memories of high inflationEhrmann, Michael, Tzamourani, Panagiota
1077The reception of public signals in financial markets - what if central bank communication becomes stale?Ehrmann, Michael, Sondermann, David
898Central Bank communication and monetary policy: a survey of theory and evidenceBlinder, Alan S., Ehrmann, Michael, Fratzscher, Marcel, de Haan, Jakob, Jansen, David-Jan
868Purdah: on the rationale for central bank silence around policy meetingsEhrmann, Michael, Fratzscher, Marcel
821Social value of public information: testing the limits to transparencyEhrmann, Michael, Fratzscher, Marcel
817Convergence and anchoring of yield curves in the euro areaEhrmann, Michael, Fratzscher, Marcel, Swanson, Eric, Gürkaynak, Refet S.
767Explaining monetary policy in press conferencesEhrmann, Michael, Fratzscher, Marcel
695Geography or skills: What explains Fed watchers’ forecast accuracy of US monetary policy?Berger, Helge, Ehrmann, Michael, Fratzscher, Marcel
679Monetary policy in the mediaBerger, Helge, Ehrmann, Michael, Fratzscher, Marcel
616Global financial transmission of monetary policy shocksEhrmann, Michael, Fratzscher, Marcel
588Rational inattention, inflation developments and perceptions after the euro cash changeoverEhrmann, Michael
578Forecasting ECB monetary policy: accuracy is (still) a matter of geographyBerger, Helge, Ehrmann, Michael, Fratzscher, Marcel
565The timing of central bank communicationEhrmann, Michael, Fratzscher, Marcel
557How should central banks communicate?Ehrmann, Michael, Fratzscher, Marcel
488Communication and decision-making by central bank committees: different strategies, same effectiveness?Ehrmann, Michael, Fratzscher, Marcel
457Transparency, disclosure and the federal reserveEhrmann, Michael, Fratzscher, Marcel
452Stocks, bonds, money markets and exchange rates: measuring international financial transmissionEhrmann, Michael, Fratzscher, Marcel, Rigobon, Roberto
388Euro area inflation differentialsAngeloni, Ignazio, Ehrmann, Michael
365Exchange rates and fundamentals: new evidence from real-time dataEhrmann, Michael, Fratzscher, Marcel
354Taking stock: monetary policy transmission to equity marketsEhrmann, Michael, Fratzscher, Marcel
342Equal size, equal role? Interdependence between the euro area and the United StatesEhrmann, Michael, Fratzscher, Marcel
240Monetary policy transmission in the euro area: any changes after EMU?Ehrmann, Michael, Backé, Peter
200Interdependence between the euro area and the US: what role for EMU?Ehrmann, Michael, Fratzscher, Marcel
105Financial systems and the role of banks in monetary policy transmission in the euro areaEhrmann, Michael, Gambacorta, Leonardo, Martínez Pagés, Jorge, Sevestre, Patrick, Worms, Andreas
73Interbank lending and monetary policy transmission - evidence for GermanyEhrmann, Michael, Worms, Andreas
59Uncertain potential output: implications for monetary policyEhrmann, Michael, Smets, Frank
21Firm size and monetary policy transmission: evidence from German business survey dataEhrmann, Michael
No. Title Authors
100Survey data on household finance and consumption: research summary and policy usede Greef, Isabelle, Eurosystem Household Finance and Consumption Network, Stinglhamber, Pierrick, Von Kalckreuth, Ulf, Schmidt, Tobias, Grabka, Markus, Keeney, Mary, Lawless, Martina, Menton, Aisling, Akantziliotou, Calliope, Mitrakos, Theodoros, Tzamourani, Panagiota, Barceló, Cristina, Bover, Olympia, Villanueva, Ernesto, Savignac, Frédérique, Sevestre, Patrick, Houdré, Cédric, Faiella, Ivan, Iezzi, Stefano, Viviano, Eliana, Haroutunian, Stephan, Mathä, Thomas Y., Caruana, Karen, Pace, Christopher, Prast, Henriëtte M., van Renselaar, Corry, Teppa, Federica, van Rooij, Maarten, Beer, Christian, Fessler, Pirmin, Schürz, Martin, Farinha, Luísa, Brelih, Matej, Geršak, Uroš, Jeran, Matjaž, Komprej, Irena, Herrala, Risto, Vilmunen, Jouko, Honkkila, Juha, Museux, Jean-Marc, Bonci, Riccardo, Ehrmann, Michael, Fitzpatrick, Trevor, Forsells, Magnus, Gómez-Salvador, Ramón, Hahn, Elke, Lodge, David, Pérez-Duarte, Sébastien, Sánchez Muñoz, Carlos, Sandars, Patrick, Skudelny, Frauke, Slacalek, Jiri, Vermeulen, Philip, Willeke, Caroline, Winkler, Bernhard, Zeleny, Martin, Guiso, Luigi, Haliassos, Michael, Kennickell, Arthur
83The predictability of monetary policyBlattner, Tobias, Catenaro, Marco, Ehrmann, Michael, Strauch, Rolf, Turunen, Jarkko
46Inflation persistence and price-setting behaviour in the euro area: a summary of the IPN evidenceEhrmann, Michael, Smets, Frank, Altissimo, Filippo
Title Authors Where
Necessity as the Mother of Invention: Monetary Policy after the Crisis A. Blinder, M. Ehrmann, J. De Haan and D.J. Jansen Economic Policy
Household Risk Management and Actual Mortgage Choice in the Euro Area M. Ehrmann, M. Ziegelmeyer Journal of Money, Credit and Banking
The Pitch Rather Than The Pit: Investor Inattention During FIFA World Cup Matches M. Ehrmann, D.J. Jansen Journal of Money, Credit and Banking
Consumers’ Attitudes and their Inflation Expectations M. Ehrmann, D. Pfajfar, E. Santoro International Journal of Central Banking
It Hurts (Stock Prices) When Your Team is About to Lose a Soccer Match M. Ehrmann, D.J. Jansen Review of Finance
Targeting Inflation from Below – How do Inflation Expectations Behave? M. Ehrmann International Journal of Central Banking
The Global Crisis and Equity Market Contagion G. Bekaert, M. Ehrmann, M. Fratzscher and A. Mehl Journal of Finance
The Pricing of G7 Sovereign Bond Spreads – The Times, They are A-Changin A. D'Agostino, M. Ehrmann Journal of Banking and Finance
The Euro Exchange Rate during the European Sovereign Debt Crisis – Dancing to its own Tune? M. Ehrmann, C. Osbat, L. Uusküla and J. Strasky Journal of International Money and Finance
Central Bank Communication on Financial Stability B. Born, M. Ehrmann, M. Fratzscher Economic Journal
Dispersed Communication by Central Bank Committees and the Predictability of Monetary Policy Decisions M. Ehrmann, M. Fratzscher Public Choice
Explaining EU Citizens’ Trust in the ECB in Normal and Crisis Times M. Ehrmann, M. Soudan and L. Stracca Scandinavian Journal of Economics
The News Content of Macroeconomic Announcements - What if Central Bank Communication Becomes Stale? M. Ehrmann, D. Sondermann International Journal of Central Banking
Communicating About Macroprudential Supervision – a New Challenge for Central Banks B. Born, M. Ehrmann, M. Fratzscher International Finance
The Role of Central Bank Transparency for Guiding Private Sector Forecasts M. Ehrmann, S. Eijffinger, M. Fratzscher Scandinavian Journal of Economics
Memories of High Inflation M. Ehrmann, T. Tzamourani European Journal of Political Economy
Stocks, Bonds, Money Markets and Exchange Rates: Measuring International Financial Transmission M. Ehrmann, M. Fratzscher, R. Rigobon Journal of Applied Econometrics
Politics and Monetary Policy M. Ehrmann, M. Fratzscher Review of Economics and Statistics
Monetary Policy in the Media H. Berger, M. Ehrmann, M. Fratzscher Journal of Money, Credit and Banking
Geography, Skills or Both: What Explains Fed Watchers’ Forecast Accuracy of US Monetary Policy? H. Berger, M. Ehrmann, M. Fratzscher Journal of Macroeconomics
Convergence and Anchoring of Yield Curves in the Euro Area M. Ehrmann, M. Fratzscher, R. Gürkaynak and E. Swanson Review of Economics and Statistics
Inflation Developments and Perceptions After the Euro Cash Changeover M. Ehrmann German Economic Review
Forecasting ECB Monetary Policy: Accuracy Is a Matter of Geography H. Berger, M. Ehrmann, M. Fratzscher European Economic Review
Global Financial Transmission of Monetary Policy Shocks M. Ehrmann, M. Fratzscher Oxford Bulletin of Economics and Statistics
Journal of Money, Credit and Banking M. Ehrmann, M. Fratzscher International Journal of Central Banking
Purdah – On the Rationale for Central Bank Silence Around Policy Meetings M. Ehrmann, M. Fratzscher Journal of Money, Credit and Banking
Central Bank Communication and Monetary Policy: A Survey of Theory and Evidence A. Blinder, M. Ehrmann, M. Fratzscher, J. De Haan and D.J. Jansen Journal of Economic Literature
Communication and Decision-Making by Central Bank Committees: Different Strategies, Same Effectiveness? M. Ehrmann, M. Fratzscher Journal of Money, Credit and Banking
Transparency, Disclosure and the Federal Reserve M. Ehrmann, M. Fratzscher International Journal of Central Banking
The Timing of Central Bank Communication M. Ehrmann, M. Fratzscher European Journal of Political Economy
Euro Area Inflation Differentials I. Angeloni, M. Ehrmann The B.E. Journal of Macroeconomics (Topics)
The Exchange Rate – A Shock Absorber or Source of Shocks? A Study of 4 Open Economies M. Artis, M. Ehrmann Journal of International Money and Finance
New Evidence on Inflation Persistence and Price Stickiness in the Euro Area: Implications for Macro Modelling I. Angeloni, L. Aucremanne, M. Ehrmann, J. Galí, A. Levin and F. Smets Journal of the European Economic Association
Equal Size, Equal Role? Interest Rate Interdependence Between the Euro Area and the US M. Ehrmann, M. Fratzscher Economic Journal
Exchange Rates and Fundamentals: New Evidence from Real-Time Data M. Ehrmann, M. Fratzscher Journal of International Money and Finance
Bank Networks and Monetary Policy Transmission M. Ehrmann, A. Worms Journal of the European Economic Association
Taking Stock: Monetary Policy Transmission to Equity Markets M. Ehrmann, M. Fratzscher Journal of Money, Credit and Banking
Monetary Transmission in the Euro Area: Early Evidence I. Angeloni, M. Ehrmann Economic Policy
Monetary Policy Transmission in the Euro Area – Evidence from Micro Data on Banks and Firms J.-B. Chatelain, M. Ehrmann, A. Generale, J. Martinez-Pages, P. Vermeulen and A. Worms Journal of the European Economic Association
Monetary Policy Announcements and Money Markets: A Transatlantic Perspective M. Ehrmann, M. Fratzscher International Finance
The Effects of Monetary Policy in the Euro Area M. Ehrmann, L. Gambacorta, J. Martinez-Pages, P. Sevestre and A. Worms Oxford Review of Economic Policy
Uncertain Potential Output: Implications for Monetary Policy M. Ehrmann, F. Smets Journal of Economic Dynamics and Control
Regime-Dependent Impulse Response Functions in a Markov-Switching Vector Autoregression Model M. Ehrmann, M. Ellison, N. Valla Economics Letters
Comparing Monetary Policy Transmission Across European Countries M. Ehrmann Weltwirtschaftliches Archiv