Hartmann, Philipp

Research

Current position

Deputy Director General

Fields of interest

Financial Economics,
International Economics,
Macroeconomics and Monetary Economics

Email

philipp.hartmann@ecb.europa.eu

Other current responsibilities
  • 2015-
    Coordinator, Committee on Financial Integration, European Central Bank
  • 2010-
    Associate Editor, Journal of Financial Stability
  • 2006-
    Research Fellow, Centre for Economic Policy Research, London, United Kingdom
  • 2010-2014
    Chairman, ESCB Macroprudential Research Network (MaRs)
  • 1997-2006
    Research Affiliate, Centre for Economic Policy Research (CEPR), London, United Kingdom
  • Chairman Editorial Board of the ECB Working Paper series
  • Chairman ECB Lamfalussy Fellowship Program
  • Co-Editor ECB Research Bulletin
  • Member ECB Macroprudential Contact Group
  • Member ECB Committee on Financial Integration
  • Member Scientific Committee Fondation Banque de France
Education
  • 1993-1996
    Doctorat en Sciences Economiques, DELTA (ENS-EHESS-CNRS), Paris, France, European Doctoral Program in Quantitative Economics
  • 1992-1993
    MA in Economics (Monetary and Macroeconomics), Université Catholique de Louvain, Belgium
  • 1986-1992
    Diplom in Volkswirtschaftslehre, Universität Mannheim, Germany
Professional experience
  • 2011-
    Deputy Director General - Directorate General Research, European Central Bank, Frankfurt, Germany
  • 2011-2011
    Principal Adviser - Directorate General Research, European Central Bank, Frankfurt, Germany
  • Chaired part-time professor for Macro-financial Economics, Erasmus University Rotterdam, Netherlands, since 2010
  • Vice President of SUERF, The European Money and Finance Forum, Vienna, Austria, 2006-2011
  • Head of the Financial Research Division at the European Central Bank, Directorate General Research, Frankfurt, Germany, 6/2004-3/2011
  • Principal of the Economic and Financial Research Unit at the European Central Bank, Directorate General Research, Frankfurt, Germany, 1/1999-5/2004
  • Senior Economist at the European Central Bank, Directorate General Research, General Economic Research Division, Frankfurt, Germany, 6/1998-12/1998
  • Economist at the European Monetary Institute, Monetary, Economics and Statistics Department, Stage Three Division, Frankfurt, Germany, 10/1997-5/1998
  • Research Fellow in Financial Regulation at the London School of Economics and Political Science, Financial Markets Group, London, United Kingdom, 10/1995-9/1997
  • Policy work: Contributions to ECOFIN Council, ECB Governing and General Council, ECB Executive Board, European Systemic Risk Board, European Commission fora, Basel Committee on Banking Supervision, IMF Article IV consultations, United Nations Economic Commission for Europe, Bank of England Central Bank Governors’ Symposium, Center for European Policy Studies Chief Economist Meeting, European League for Economic Cooperation, ECB Monthly Bulletin and Annual Report, ECB Financial Stability Review, ECB Report on Financial Integration in Europe, ECB Review of the International Role of the Euro and other reports; Chair or member of various internal and external task forces and working groups
Teaching experience
  • 1999-2005
    Design and teaching of various courses and modules in finance, microeconomics, macroeconomics and international economics - European Central Bank, Frankfurt, Germany
  • 1992-1992
    Market Economics - Eastern German civil servants after reunification, Riesa, Germany
Awards
  • 2002
    First CEPR/European Summer Institute Prize for the best central bank research paper
  • 1992
    EU Commission scholarship "Human Capital and Mobility"

ECB Forum on Central Banking

2018
Hartmann, Philipp, McAdam, Peter
Price and wage-setting in advanced Economies: takeaways from the ECB’s 2018 Sintra Forum

ECB Working Paper Series

2015
Hartmann, Philipp
Real estate markets and macroprudential policy in Europe
No 1796
2012
Grüner, Hans Peter, Hartmann, Philipp, Fecht, Falko
Financial integration, specialization and systemic risk
No 1425
2007
Carletti, Elena, Hartmann, Philipp, Ongena, Steven
The economic impact of merger control: what is special about banking?
No 786
2005
Hartmann, Philipp, Straetmans, Stefan, de Vries, Casper
Banking system stability: a cross-Atlantic perspective
No 527
2004
Hartmann, Philipp, Straetmans, Stefan, de Vries, Casper
Fundamentals and joint currency crises
No 324
2003
Carletti, Elena, Hartmann, Philipp, Spagnolo, Giancarlo
Bank mergers, competition and liquidity
No 292
Hartmann, Philipp, Maddaloni, Angela, Manganelli, Simone
The euro area financial system: structure, integration and policy initiatives
No 230
2002
Carletti, Elena, Hartmann, Philipp
Competition and stability: what's special about banking?
No 146
2001
Hartmann, Philipp, Manna, Michele, Manzanares, Andrés
The microstructure of the euro money market
No 80
Hartmann, Philipp, Straetmans, Stefan, de Vries, Casper
Asset market linkages in crisis periods
No 71
2000
De Bandt, Olivier, Hartmann, Philipp
Systemic risk: A survey
No 35
Detken, Carsten, Hartmann, Philipp
The euro and international capital markets
No 19

ECB Occasional Paper Series

2007
Hartmann, Philipp, Papaioannou, Elias, Lo Duca, Marco, Heider, Florian
The role of financial markets and innovation in productivity and growth in Europe
No 72

Journal publications

2012
Fecht, F., Grüner, H.-P., and Hartmann, P.
Financial Integration, Specialisation and Systemic Risk
Journal of International Economics, Vol. 88, No 1, pp. 150-161
O. de Bandt, P. Hartmann and J. Peydro
Systemic Risk in Banking: An Update
Oxford Handbook of Banking, Oxford University Press,
2010
P. Hartmann, S. Straetmans and C. de Vries
Heavy Tails and Currency Crises
Journal of Empirical Finance,
2008
X. Freixas, P. Hartmann and C. Mayer (eds.)
Handbook of European Financial Markets and Institutions
Oxford University Press,
2007
R. Ferguson, P. Hartmann, F. Panetta and R. Portes
International Financial Stability
Geneva Report on the World Economy,
E. Carletti, P. Hartmann and G. Spagnolo
Bank Mergers, Competition and Liquidity
Journal of Money, Credit and Banking,
2005
P. Hartmann and M. Kwast
Managing Financial Research in Central Banks
Central Banking,
P. Hartmann, S. Straetmans and C. de Vries
Banking System Stability: A Cross-Atlantic Perspective
The Risks of Financial Institutions (National Bureau of Economic Research and Chicago University Press),
2004
P. Hartmann, S. Straetmans and C. de Vries
Asset Market Linkages in Crisis Periods
Review of Economics and Statistics,
2003
P. Hartmann, A. Maddaloni and S. Manganelli
The Euro-area Financial System: Structure, Integration and Policy Initiatives
Oxford Review of Economic Policy,
2002
C. Detken and P. Hartmann
Features of the Euro’s Role in International Financial Markets
Economic Policy,
2001
P. Hartmann, M. Manna and A. Manzanares
The Microstructure of the Euro Money Market
Journal of International Money and Finance,
2000
C. Detken and P. Hartmann
The Euro and International Capital Markets
International Finance,
1999
P. Hartmann
Trading Volumes and Transaction Costs in the Foreign Exchange Market: Evidence from Daily Dollar-Yen Spot Data
Journal of Banking and Finance,
1998
P. Hartmann
Currency Competition and Foreign Exchange Markets: The Dollar, the Yen and the Euro
Cambridge University Press,
J. Danielsson, P. Hartmann and C. de Vries
Extreme Returns, Value-at-Risk and the Basel Multiplication Factor
Risk,
P. Hartmann
Do Reuters spreads reflect currencies' differences in global trading activity?
Journal of International Money and Finance,
1997
P. Hartmann
Credit Derivatives: A New Beast to Be Tamed?
The Financial Regulator,