Werner, Thomas

Monetary Policy


Capital Markets/Financial Structure

Current position

Head of Division

Fields of interest

Financial Economics,
Macroeconomics and Monetary Economics


  • 1999
    Ph.D in Economics, Technical University of Darmstadt, Germany
Professional experience
  • 2004-
    European Central Bank
  • 2000-2004
    Economist, Deutsche Bundesbank
  • 1993-2000
    Research Associate and Lecturer, Department of Economics at Technical University Darmstadt and University of Frankfurt

Journal publications

M. T. Bohl, P. L. Siklos and T. Werner
Do central banks react to the stock market? The case of the Bundesbank
Journal of Banking and Finance
J. Kremer, G. Lombardo, L. von Thadden and T. Werner
Dynamic Stochastic General Equilibrium models as a tool for policy analysis
CESifo Economic Studies
C. Upper and T. Werner
Time Variation in the Tail Behaviour of Bund Futures Returns
ournal of Futures Markets

Other publications

J.A. Garcia and T. Werner
Inflation compensation and inflation risk premia in the euro area term structure of interest rates
Developments in macro-finance yield curve modelling