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Stephan Fahr

Macro Prud Policy&Financial Stability


Macroprudential Policy

Current Position

Principal Financial Stability Expert



Other current responsibilities

Economist, Monetary Policy Strategy Division


Ph.D. European University Institute, Florence

Diplom Goethe University, Frankfurt

Professional experience

2009 - now, Monetary Policy Strategy Division, European Central Bank

2008-2009: Euro Area Macro Developments, European Central Bank

2007-2008: Monetary Policy Research Division, European Central Bank

2006-2007: Post-Doc at Institut d'Analisi Economico, Barcelona

External publications
Approaches to monetary policy revisited – lessons from the crisis
Lessons for monetary policy strategies from the recent past
  • Stephan Fahr
  • Roberto Motto
  • Massimo Rostagno
  • Frank Smets and Oreste Tristani
Scandinavian Journal of Economics 112(4)
Downward Wage Rigidities and Optimal Monetary Policy in a Monetary Union
  • Stephan Fahr and Frank Smets