25 Jahre IWH

Professor Dr. Mathias Trabandt

Professor Dr. Mathias Trabandt
Aktuelle Position

seit 4/17

Research Fellow der Abteilung Makroökonomik

Leibniz-Institut für Wirtschaftsforschung Halle (IWH)

seit 8/15

Professor für Makroökonomie

Freie Universität Berlin


  • angewandte Ökonometrie
  • Arbeitsmarktökonomik
  • internationale Makroökonomik

Mathias Trabandt ist seit April 2017 Research Fellow am IWH. Seine Forschungsschwerpunkte umfassen Makroökonomie, Monetäre Ökonomie, Finanzwissenschaft, Arbeitsmarkttheorie, Internationale Makroökonomik, Friktionen im Finanzmarkt und angewandte Ökonometrie.

Mathias Trabandt ist seit August 2015 Professor für Makroökonomie im Fachbereich Wirtschaftswissenschaften an der Freien Universität Berlin. Zuvor war er Leiter der “Global Modeling Studies Section” der International Finance Division des Federal Reserve Board of Governors in Washington D.C. Frühere Stationen seiner beruflichen Laufbahn waren die Europäische Zentralbank und die Deutsche Bundesbank in Frankfurt sowie die Sveriges Riksbank in Stockholm. Er promovierte an der Humboldt-Universität zu Berlin.

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Professor Dr. Mathias Trabandt
Professor Dr. Mathias Trabandt
Mitglied - Abteilung Makroökonomik
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Effects of Fiscal Stimulus in Structural Models

Mathias Trabandt Günter Coenen Christopher J. Erceg Charles Freedman Davide Furceri Michael Kumhof René Lalonde Douglas Laxton Jasper Lindé Annabelle Mourougane Dirk Muir Susanna Mursula Carlos de Resende John Roberts Werner Roeger Stephen Snudden Jan in't Veld

in: American Economic Journal: Macroeconomics , Nr. 1, 2012


The paper subjects seven structural DSGE models, all used heavily by policymaking institutions, to discretionary fiscal stimulus shocks using seven different fiscal instruments, and compares the results to those of two prominent academic DSGE models. There is considerable agreement across models on both the absolute and relative sizes of different types of fiscal multipliers. The size of many multipliers is large, particularly for spending and targeted transfers. Fiscal policy is most effective if it has moderate persistence and if monetary policy is accommodative. Permanently higher spending or deficits imply significantly lower initial multipliers.

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Fiscal Policy and the Great Recession in the Euro Area

Mathias Trabandt Günter Coenen Roland Straub

in: American Economic Review: Papers and Proceedings , Nr. 3, 2012


How much did fiscal policy contribute to euro area real GDP growth during the Great Recession? We estimate that discretionary fiscal measures have increased annualized quarterly real GDP growth during the crisis by up to 1.6 percentage points. We obtain our result by using an extended version of the European Central Bank's New Area-Wide Model with a rich specification of the fiscal sector. A detailed modeling of the fiscal sector and the incorporation of as many as eight fiscal time series appear pivotal for our result.

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Gauging the Effects of Fiscal Stimulus Packages in the Euro Area

Mathias Trabandt Roland Straub Günter Coenen

in: Journal of Economic Dynamics and Control , Nr. 2, 2013


We seek to quantify the impact on euro area GDP of the European Economic Recovery Plan (EERP) enacted in response to the financial crisis of 2008–2009. To do so, we estimate an extended version of the ECB's New Area-Wide Model with a richly specified fiscal sector. The estimation results point to the existence of important complementarities between private and government consumption and, to a lesser extent, between private and public capital. We first examine the implied present-value multipliers for seven distinct fiscal instruments and show that the estimated complementarities result in fiscal multipliers larger than one for government consumption and investment. We highlight the importance of monetary accommodation for these findings. We then show that the EERP, if implemented as initially enacted, had a sizeable, although short-lived impact on euro area GDP. Since the EERP comprised both revenue and expenditure-based fiscal stimulus measures, the total multiplier is below unity.

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