Emanuel Mönch

Professor of Financial and Monetary Economics • Professor

Professor of Financial and Monetary Economics

Emanuel Moench is Professor of Financial and Monetary Economics at Frankfurt School of Finance & Management. Prior to joining Frankfurt School, Emanuel was the Head of Research of Deutsche Bundesbank and Professor of Economics at Goethe University Frankfurt, after holding a position as Research Officer at the Federal Reserve Bank of New York. His research focuses on the intersection of macroeconomics and finance and has been published in the Journal of Finance, the Journal of Financial Economics, the Review of Financial Studies, and the Journal of Monetary Economics among others. He received the Journal of Finance’s Amundi Smith Breeden First Prize in 2015 and the European Economic Association's Young Economist Award in 2008. Emanuel obtained a Ph.D. and an M.A. in Economics from Humboldt University Berlin and an M.A. in Statistics from ENSAE.

Finance department
Professor
Faculty

PUBLICATIONS

Carvalho, C., Eusepi, S., Mönch, E., Preston, B., 2023. Anchored Inflation Expectations, American Economic Journal: Macroeconomics Vol. 15(1), pp. 1-47.

Mönch, E., Soofi-Siavash, S., 2022. What Moves Treasury Yields?, Journal of Financial Economics Vol. 146(3), pp. 1016-1043.

Hoffmann, M., Mönch, E., Pavlova, L., Schultefrankenfeld, G., 2022. Would Households Understand Average Inflation Targeting?, Journal of Monetary Economics Vol. 129(Supplement), pp. 52-66.

Mönch, E., Stein, T., 2019. Comment on "Monetary Policy Communication, Policy Slope, and the Stock Market" by Andreas Neuhierl and Michael Weber, Journal of Monetary Economics Vol. 108(December), pp. 156-161.

Ghysels, E., Horan, C., Mönch, E., 2018. Forecasting through the Rearview Mirror: Data Revisions and Bond Return Predictability, Review of Financial Studies Vol. 31(2), pp. 678-714.

Abrahams, M., Adrian, T., Crump, R., Mönch, E., Yu, R., 2016. Decomposing Real and Nominal Yield Curves, Journal of Monetary Economics Vol. 84(December), pp. 182-200.

Andrade, P., Crump, R., Eusepi, S., Mönch, E., 2016. Fundamental Disagreement, Journal of Monetary Economics Vol. 83(October), pp. 106-128.

Liu, W., Mönch, E., 2016. What Predicts US Recessions?, International Journal of Forecasting Vol. 32(4), pp. 1138-1150.

Adrian, T., Crump, R., Mönch, E., 2015. Regression-Based Estimation of Dynamic Asset Pricing Models, Journal of Financial Economics Vol. 118(2), pp. 211-244.

Lucca, D., Mönch, E., 2015. The Pre-FOMC Announcement Drift, Journal of Finance Vol. 70(1), pp. 329-371.

Mönch, E., Ng, S., Potter, S., 2013. Dynamic Hierarchical Factor Models, Review of Economics and Statistics Vol. 95(5), pp. 1811-1817.

Adrian, T., Crump, R., Mönch, E., 2013. Pricing the Term Structure with Linear Regressions, Journal of Financial Economics Vol. 110(1), pp. 110-138.

Mönch, E., 2012. Term Structure Surprises: The Predictive Content of Curvature, Level, and Slope, Journal of Applied Econometrics Vol. 27(4), pp. 574-602.

Mönch, E., Ng, S., 2011. A Hierarchical Factor Analysis of U.S. Housing Market Dynamics, Econometrics Journal Vol. 14(1).

Carvalho, C., Klagge, N., Mönch, E., 2011. The Persistent Effects of a False News Shock, Journal of Empirical Finance Vol. 18(4), pp. 597-615.

Adrian, T., Mönch, E., Shin, H., 2010. Macro Risk Premium and Intermediary Balance Sheet Quantities, IMF Economic Review Vol. 58, pp. 179-207.

Mönch, E., Vickery, J., Aragon, D., 2010. Why is the Market Share of Adjustable-Rate Mortgages so Low?, Current Issues in Economics and Finance Vol. 16(8), pp. 1-11.

Mackowiak, B., Mönch, E., Wiederholt, M., 2009. Sectoral Price Data and Models of Price Setting, Journal of Monetary Economics Vol. 56(Supplement), pp. 78-99.

Mönch, E., 2008. Forecasting the Yield Curve in a Data-Rich Environment: A No-Arbitrage Factor-Augmented VAR Approach, Journal of Econometrics Vol. 146(1), pp. 26-43.

Mönch, E., Uhlig, H., 2005. Towards a Monthly Business Cycle Chronology for the Euro Area, Journal of Business Cycle Measurement and Analysis Vol. 2(1), pp. 43-69.

Crump, R., Eusepi, S., Mönch, E., Preston, B., 2023, The Term Structure of Expectations, in: Rüdiger Bachmann, Giorgio Topa, Wilbert van der Klaauw (eds): Handbook of Economic Expectations, Amsterdam: Elsevier, pp. 507-540.

Mönch, E., Soofi-Siavash, S., 2023. Carbon Intensity, Productivity, and Growth.

Chavleishvili, S., Mönch, E., 2023. Natural Disasters and Macroeconomic Tail Risks.

de Roure, C., Mönch, E., Pelizzon, L., Schneider, M., 2023. OTC Discount, SAFE Working Paper No. 298.

Mönch, E., Jank, S., Schneider, M., 2022. Safe Asset Shortage and Collateral Velocity, CEPR Discussion Paper No. 16439.

Mönch, E., Stein, T., 2021. Equity Premium Predictability over the Business Cycle, CEPR Discussion Paper No. 16357.

Cao, S., Crump, R., Eusepi, S., Mönch, E., 2020. Fundamental Disagreement about Monetary Policy and the Term Structure of Interest Rates, Federal Reserve Bank of New York Staff Reports No. 934.

Barbu, A., Fricke, C., Mönch, E., 2020. Procyclical Asset Management and Bond Risk Premia, Deutsche Bundesbank Discussion Paper No. 38/2020.

Adrian, T., Mönch, E., Shin, H., 2019. Dynamic Leverage Asset Pricing, CEPR Discussion Paper No. 11466. Management Science.

Crump, R., Eusepi, S., Mönch, E., 2018. The Term Structure of Expectations and Bond Yields, Federal Reserve Bank of New York Staff Reports No. 775.

Adrian, T., Mönch, E., Shin, H., 2010. Financial Intermediation, Asset Prices, and Macroeconomic Dynamics, Federal Reserve Bank of New York Staff Reports No. 422.