Hoffmann, Peter



Financial Research

Current position

Senior Economist

Fields of interest

Financial Economics


  • 2005-2011
    PhD in Finance, Universitat Pompeu Fabra, Barcelona, Spain
Professional experience
  • 2011-
    Economist - Financial Research Division, Directorate General Research, European Central Bank
  • 2015-2016
    Economist - European Systemic Risk Board, Frankfurt, Germany
Teaching experience
  • 2018-
    Visiting Fellow and Instructor, HEC Paris
  • 2006-2010
    Teaching Assistant, Universitat Pompeu Fabra
  • 2017
  • 2011
    Josseph de la Vega Prize, Federation of European Securities Exchanges (FESE)

ECB Working Paper Series

ECB Research bulletin

ECB Financial Stability Review Article

Journal publications

Colliard, J.-E., Foucault, T., Hoffmann, P.
Inventory Management, Dealers' Connections, and Prices in OTC Markets
Journal of Finance, forthcoming
Boot, A., Hoffmann, P., Laeven, L., Ratnovski, L.
Fintech: What's old, what's new?
Journal of Financial Stability, forthcoming
Hau, H., Hoffmann, P., Langfield, S., Timmer, Y.
Discriminatory pricing of over-the-counter derivatives
Management Science, forthcoming
Hoffmann, P., Sigaux, J.-D.
Determinants of excess reserve holdings
Economics Letters, Vol. 195, 109439
Gil-Bazo, J., Hoffmann, P., Mayordomo, S.
Mutual Funding
Review of Financial Studies, Vol. 33, pp. 4883–4915
Hoffmann, P., Kremer, M., Zaharia, S.
Financial integration in Europe through the lens of composite indicators
Economics Letters, Vol. 194, 109344
Ehrmann, M., Gaballo, G., Hoffmann, P., Strasser, G.
Can more public information raise uncertainty? The international evidence on forward guidance
Journal of Monetary Economics, Vol. 108, pp. 93-112
Hoffmann, P., Pierobon, F., Langfield, S., and Vuillemey, G.
Who bears interest rate risk?
Review of Financial Studies, Vol. 32, No. 8, pp. 2921-2954
Colliard, J.-E., and Hoffmann, P.
Financial Transaction Taxes, Market Composition, and Liquidity
Journal of Finance, Vol. 72, No. 6, pp. 2685–2716
Hoffmann, P.
Adverse selection, market access and inter-market competition
Journal of Banking and Finance, Vol. 65, No. 4, pp.108-119
Garcia de Andoain, C., Hoffmann, P., and Manganelli, S.
Fragmentation in the Euro Overnight Unsecured Money Market
Economics Letters, Vol. 125, No. 2, pp. 298–302
Hoffmann, P.
A dynamic limit order market with fast and slow traders
Journal of Financial Economics, Vol. 113, No. 1, pp. 156–169

Other publications

G. Coenen, M. Ehrmann, G. Gaballo, P. Hoffmann, A. Nakov, S. Nardelli, E. Persson and G. Strasser
More, and More Forward-Looking: Central Bank Communication After the Crisis
S. Eijffinger and D. Masciandaro (eds.), Hawks and Doves: Deeds and Words. Economics and Politics of Monetary Policymaking, CEPR Press (London), Chapter 13, pp. 125-135