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.

Ihr Kontakt

Professor Dr. Mathias Trabandt
Professor Dr. Mathias Trabandt
Mitglied - Abteilung Makroökonomik
Nachricht senden Persönliche Seite



Should We Use Linearized Models To Calculate Fiscal Multipliers?

Jesper Lindé Mathias Trabandt

in: Journal of Applied Econometrics, im Erscheinen


We calculate the magnitude of the government consumption multiplier in linearized and nonlinear solutions of a New Keynesian model at the zero lower bound. Importantly, the model is amended with real rigidities to simultaneously account for the macroeconomic evidence of a low Phillips curve slope and the microeconomic evidence of frequent price changes. We show that the nonlinear solution is associated with a much smaller multiplier than the linearized solution in long-lived liquidity traps, and pin down the key features in the model which account for the di¤erence. Our results caution against the common practice of using linearized models to calculate …scal multipliers in long-lived liquidity traps.

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On DSGE Models

Lawrence J. Christiano Martin S. Eichenbaum Mathias Trabandt

in: Journal of Economic Perspectives, Nr. 3, 2018


The outcome of any important macroeconomic policy change is the net effect of forces operating on different parts of the economy. A central challenge facing policymakers is how to assess the relative strength of those forces. Economists have a range of tools that can be used to make such assessments. Dynamic stochastic general equilibrium (DSGE) models are the leading tool for making such assessments in an open and transparent manner. We review the state of mainstream DSGE models before the financial crisis and the Great Recession. We then describe how DSGE models are estimated and evaluated. We address the question of why DSGE modelers—like most other economists and policymakers—failed to predict the financial crisis and the Great Recession, and how DSGE modelers responded to the financial crisis and its aftermath. We discuss how current DSGE models are actually used by policymakers. We then provide a brief response to some criticisms of DSGE models, with special emphasis on criticism by Joseph Stiglitz, and offer some concluding remarks.

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The Macroeconomic Risks of Undesirably Low Inflation

Mathias Trabandt Jonas Arias Christopher J. Erceg

in: European Economic Review, 2016


This paper investigates the macroeconomic risks associated with undesirably low inflation using a medium-sized New Keynesian model. We consider different causes of persistently low inflation, including a downward shift in long-run inflation expectations, a fall in nominal wage growth, and a favorable supply-side shock. We show that the macroeconomic effects of persistently low inflation depend crucially on its underlying cause, as well as on the extent to which monetary policy is constrained by the zero lower bound. Finally, we discuss policy options to mitigate these effects.

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