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Economics & Law Department
Overview
The members of Frankfurt School’s Economics & Law Department conduct research on current topics relevant for economics and policy alike. These topics span a broad range, including competition policy, industrial economics, experimental and behavioral economics, quantitative macroeconomics, environmental and resource economics, and corporate and commercial law. Both the current regulatory environment and legal policy proposals are examined and elaborated. The members of the Economics & Law Department are active in teaching in the Bachelor, Master, and Doctoral programmes at Frankfurt School.
The professors of the Economics Group regularly publish their research in leading international Economics journals, such the American Economic Review, the Journal of Political Economy, and the Review of Economic Studies, as well as in leading Management und Finance journals, such as Management Science and the Review of Financial Studies. The professors of the Law Group regularly publish their research in leading corporate law journals, such as Zeitschrift für Wirtschaftsrecht, Neue Zeitschrift für Gesellschaftsrecht or Wirtschaft und Wettbewerb. In addition, they publish their contributions in monographs, handbooks and commentaries.
Their research activity is nationally and internationally oriented, and they work or cooperate with colleagues at renowned universities, such as the University of Chicago, LSE, MIT, Oxford University and Yale University. In addition, there is a close connection to national and international decision-making bodies on legal and economic policy, such as the Bundesbank, the Federal Ministry of Finance and Justice, the Federal Cartel Office, the European Central Bank, and the European Commission, the Monopolies Commission, and the Normenkontrollrat.
Head of Department
Markus Reisinger
Professor for Industrial Organization and Microeconomics
Assistant
Javier Dario Estacio Burbano
Department Assistant
Assistant Law Professors
Mago Konopnicka
Assistant
Faculty Members
Economics
Law
Affiliated Faculty
Christian Strenger
Professor für Corporate Governance
Honorarprofessor
Nataliia Cherkas
Deputy Programme Director at IAS
Lecturer
Publications
In the following, we present selected publications by the faculty in our Economics & Law Department, that have been published in prestigious journals since 2015 or have been accepted for publication.
Representative Publications of the Economics Group
Altmann, S., Falk, A., Grunewald, A., 2024. Communicating Through Defaults, Review of Economics and Statistics, forthcoming.
Andre, P., Boneva, T., Chopra, F., Falk, A., 2024. Misperceived Social Norms and Willingness to Act Against Climate Change, Review of Economics and Statistics, forthcoming.
Bayer, C., Kriwoluzky, A., Müller, G., Seyrich, F., 2024. A HANK^2 Model of Monetary Unions, Journal of Monetary Economics, forthcoming.
Karle, H., Reisinger, M., 2024. Imperfect Targeting and Advertising Strategies, Management Science, forthcoming.
Bayer, C., Born, B., Luetticke, R., 2024. Shocks, Frictions, and Inequality in US Business Cycles, American Economic Review, 114(5), pp. 1211–1247 (lead article).
Born, B., D’Ascanio, F., Müller, G., Pfeifer, J., 2024. Mr. Keynes meets the Classics: Government Spending and the Real Exchange Rate, Journal of Political Economy, 132(5), pp. 1642–1683.
Chopra, F., Falk, A., Graeber, T., 2024. Intertemporal Altruism, American Economic Journal: Microeconomics, 16(1), pp. 329–359.
Chopra, F., Haaland, I., Roth, C., 2024. The Demand for News: Accuracy Concerns versus Belief Confirmation Motives, Economic Journal, 134(661), pp. 1806–1834.
Chopra, F., Haaland, I., Roth, C., Stegmann, A., 2024. The Null Result Penalty, Economic Journal, 134(657), pp. 193–219.
Enke, B., Schwerter, F., Zimmermann, F., 2024. Associative Memory, Beliefs and Market Interaction, Journal of Financial Economics, 157, 103853.
Schwerter, F., 2024. Social Reference Points and Risk Taking, Management Science, 70(1), pp. 616–632.
Bayer, C., Born, B., Luetticke, R., 2023. The Liquidity Channel of Fiscal Policy, Journal of Monetary Economics, 134, pp. 86–117.
Bayer, C., Born, B., Luetticke, R., Müller, G., 2023. The Coronavirus Stimulus Package: How large is the transfer multiplier?, Economic Journal, 133(652), pp. 1318–1347.
Jullien, B., Reisinger, M., Rey, P., 2023. Personalized Pricing and Distribution Strategies, Management Science, 69(3), pp. 1687–1702.
Karle, H., Schumacher, H., Vølund, R., 2023. Consumer Loss Aversion and Scale-Dependent Psychological Switching Costs, Games and Economic Behavior, 138, pp. 214–237.
Seidl, H., Seyrich, F., 2023. Unconventional Fiscal Policy in a Heterogeneous-Agent New Keynesian Model, Journal of Political Economy Macroeconomics, 1(4), pp. 633–787.
Altmann, S., Grunewald, A., Radbruch, J., 2022. Interventions and Cognitive Spillovers, Review of Economic Studies, 89(5), pp. 2293–2328.
Chopra, F., Haaland, I., Roth, C., 2022. Do People Demand Fact-Checked News? Evidence from U.S. Democrats, Journal of Public Economics, 205, 104549.
Dertwinkel-Kalt, M., Gerhardt, H., Riener, G., Schwerter, F., Strang, L., 2022. Concentration Bias in Intertemporal Choice, Review of Economic Studies, 89(3), pp. 1314–1334.
Grunewald, A., Kräkel, M., 2022. Information Manipulation and Competition, Games and Economic Behavior, 131, pp. 245–263.
Berg, T., Reisinger, M., Streitz, D., 2021. Spillover Effects in Empirical Corporate Finance, Journal of Financial Economics, 142, pp. 1109–1127.
Bordalo, P., Coffman, K., Gennaioli, N., Schwerter, F., Shleifer, A., 2021. Memory and Representativeness, Psychological Review, 128(1), pp. 71–85.
Born, B., Pfeifer, J., 2021. Uncertainty-driven business cycles: assessing the markup channel, Quantitative Economics,12(2), pp. 587–623.
Pagnozzi, M., Piccolo, S., Reisinger, M., 2021. Vertical Contracting with Endogenous Market Structure, Journal of Economic Theory, 196, 105288.
Reisinger, M., Schmidt, J., Stieglitz, N., 2021. How Complementors Benefit from Taking Competition to the System Level, Management Science, 67(8), pp. 5106–5123.
Born, B., Müller, G., Pfeifer, J., 2020. Does Austerity Pay Off?, Review of Economics and Statistics, 102(2), pp. 323–338.
Karle, H., Möller, M., 2020. Selling in Advance to Loss-Averse Consumers, International Economic Review, 61(1), pp. 441–468.
Karle, H., Peitz, M., Reisinger, M., 2020. Segmentation versus Agglomeration: Competition between Platforms with Competitive Sellers, Journal of Political Economy, 128(6), pp. 2329–2374.
Schwerter, F., Zimmermann, F., 2020. Determinants of Trust: The Role of Personal Experiences, Games and Economic Behavior, 122, pp. 413–425.
Born, B., Bachmann, R., Elstner, S., Grimme, C., 2019. Time-Varying Business Volatility and the Price Setting of Firms, Journal of Monetary Economics, 101, pp. 82–99.
Born, B., Müller, G., Schularick, M., Sedlacek, P., 2019. The Costs of Economic Nationalism: Evidence from the Brexit Experiment, Economic Journal, 129(623), pp. 2722–2744.
Reisinger, M., Tarantino, E., 2019. Patent Pools, Vertical Integration, and Downstream Competition, RAND Journal of Economics, 50(1), pp. 169–200.
Representative Publications of the Law Group
Weck, T., Bueren, E., 2023. Art. 3-13 of Regulation (EU) 2022/1925 on contestable and fair markets in the digital sector in: Bien et al., Münchener Kommentar Wettbewerbsrecht, 4. Ed. 2023 (submitted, forthcoming).
Weck, T., 2023. Chapter: The German press in a changing competitive landscape, in: Monti/Wakui, News Media and Digital platforms, (submitted, publication forthcoming).
Redenius-Hövermann, «Einfluss von ESG- und Nachhaltigkeitsaspekten bzw. -zielen auf die Leitung der Gesellschaft und die Pflichtenstellung des Vorstands», gemeinsam mit J. Dörrwächter, in NZG 05/2022.
Weck, T., 2022. §§ 44-47 GWB in: Frankfurter Kommentar Kartellrecht, loose leaf, suppl. 101.
Redenius-Hövermann, « Die Abberufung von Organmitgliedern als Instrument guter Corporate Governance – ein Werkstattbericht », ZIP 04/2022
Weck, T., Thomes, T., 2022. The Google Android case and the DMA – lessons learned?, 43(2) E.C.L.R. 52
Redenius-Hövermann, J., 2021. Zum Anlegerschutz beim Delisting - de lege lata/de lege ferenda, Zeitschrift für Wirtschaftsrecht Jg. 42(10), S. 485-494.
Redenius-Hövermann, J., 2021. Zur Frauenquote im Vorstand, Zeitschrift für Wirtschaftsrecht Jg. 42(27), S. 1365-1382.
Weck, T., Kühling, J., Reinhold. P., 2021. Data-related abuses under European law, 5 Bus. Econ. L. Rev. 136 (UIBE 2021).
Redenius-Hövermann, J., Siemens, P., 2020. Zum aktuellen Stand betreffend Clawback-Klauseln, Zeitschrift für Wirtschaftsrecht Jg. 41(4), S. 145-153.
Redenius-Hövermann, J., 2020. Ad-hoc-Veröffentlichungspflichten bei verbandsinternen Untersuchungen, Zeitschrift für Wirtschaftsrecht Jg. 41(28), S. 1331-1336.
Redenius-Hövermann, J., Bannier, C., 2020. (Online) Hauptversammlungssaison 2020: Nachlese und Ausblick, ZIP, S. 1885 ff.
Weck, T., 2020. Die Regulierung innovativer Finanzinstrumente – Risiko als Gegenstand des Aufsichtsrechts, habilitation treatise, Frankfurt/Main
Redenius-Hövermann, J., Siemens, P., 2020. Zur Herabsetzung der Vorstandsvergütung gem. § 87 Abs. 2 AktG de lege lata und de lege ferenda, Zeitschrift für Wirtschaftsrecht Jg. 41(33), S. 1585-1596.
Redenius-Hövermann, J., Strenger, C., Reuter, A., 2020. Das Unternehmenssanktionsrecht trifft die Falschen!: Stellungnahme zum Entwurf eines "Gesetzes zur Stärkung der Integrität in der Wirtschaft" aus gesellschaftsrechtlicher Sicht», ZIP 2020, S. 1160 ff.
Weck, T., Kühling, J., Reinhold. P., 2020. State Capitalism and Level Playing Field: The Need for a ‘Third-Country State Aid Instrument’ to Restore a Level Playing Field in the EU’s Internal Market, EStAL 19 (2020), 403
Redenius-Hövermann, J., Henkel, E., 2020. Eine empirische Bestandsaufnahme zur Aktionärsklage nach § 148 AktG, Aktiengesellschaft (10) S. 349-367.
Redenius-Hövermann, J., 2019. Beratungsverträge mit Aufsichtsratsmitgliedern, Aufsichtsrat (10) S. 144-146.
Schalast, C., 2019. Die Bayer-Monsanto-Lehre: Greife niemals in ein fallendes Messer, M & A Review Jg. 30(6), S. 4.
Redenius-Hövermann, « Verhalten im Unternehmensrecht – Über die realverhaltensorientierte Fortentwicklung des Unternehmensrechts anhand ausgewählter Anwendungsbeispiele », Jus Privatum, Mohr Siebeck, Tübingen 2019, 452 S.; Druckkostenzuschuss der Otto Wolff-Stiftung und der Johanna und Fritz Buch Gedächtnis-Stiftung. Besprochen von Leyens, ZHR 2021, S. 616 ff.; Theisen, Der Aufsichtsrat 2019, S. 183. Zusammenfassung in AcP 2020, S. 842 ff.
Schalast, C., 2019. Staatsanleihenankauf der EZB zwischen EuGH und BVerfG - Ultra Vires II, Recht der Finanzinstrumente (1) S. 27-32.
Redenius-Hövermann, J., 2019. Reverse Factoring – Begriffsbestimmung, vertragliche Ausgestaltung und zivilrechtliche Folgeprobleme –, JURA, S. 803 ff.
Redenius-Hövermann, J., 2019. Zu den Novellierungen im Pauschalreisevertragsrecht, JURA , S. 462 ff.
Weck, T., Blanco Thomas, S., Luchianov, L., 2019. Article 101 TFEU: Horizontal Cooperation Agreements in the Pharmaceutical Sector, in: Figueroa/Guerrero Pérez, EU Law of Competition and Trade in the Pharmaceutical Sector, Cheltenham (UK)/Northampton (U.S.) 2019, pp. 109-174.
Weck, T., 2019. Strafsanktionen bei Kartellverstößen, ZStW, S. 65.
Kraft, J., Redenius-Hövermann, J., 2018. § 31: SE-Gründung durch Spaltung, in: Jan Lieder, Cornelius Wilk, Nima Ghassemi-Tabar (Hrsg.): Umwandlungsrecht, 5. Aufl., München: Beck, S. 1041-1043.
Redenius-Hövermann, J., 2018. Verhalten im Unternehmensrecht: über die realverhaltensorientierte Fortentwicklung des Unternehmensrechts anhand ausgewählter Anwendungsbeispiele, Tübingen: Mohr.
Weck, T., 2018. Finanzmärkte und Kartellrecht, WuW, S. 294.
Kraft, J., Redenius-Hövermann, J., 2018, § 30: Grenzüberschreitende Spaltung, in: Jan Lieder, Cornelius Wilk, Nima Ghassemi-Tabar (Hrsg.): Umwandlungsrecht, 5. Aufl., München: Beck, S. 1017-1041.
Schalast, C., 2017. Der Ultra-vires-II-Vorlagebeschluss des Bundesverfassungsgerichts: auf dem Weg zu einer europäischen Verfassungskrise?, BetriebsBerater Jg. 72(46), S. 2690-2693.
Redenius-Hövermann, J., 2017. Zusammenarbeit zwischen Aufsichtsrat und Abschlussprüfer im Sinne guter Corporate Governance: ein Beitrag zur notwendigen Professionalisierung der Aufsichtsratsmitglieder, Die Wirtschaftsprüfung Jg. 70(6), S. 349-356.
Lottici, T., Seitz, J., Schalast, C., 2015. Media-for-Equity-Deals: ein Überblick, 1. Aufl., Frankfurt am Main: Frankfurt School-Verlag.
Applied Microeconomics and Organization Seminar of Goethe University and Frankfurt School
The Applied Microeconomics and Organization Seminar is jointly organized by Goethe University and Frankfurt School. It serves as a forum for scholars in the field of microeconomics to present their research and engage in discussions with participants. The events take place at Goethe University, usually on Wednesdays at 2:00 PM. For further information and contact, please reach out to Javier Burbano at j.burbano@fs.de
Research Centres
The research activities of the Economics & Law Department are partly intensified in separate research centres. Each research centre has a clear thematic focus and bundles the interdisciplinary scientific exchange with academics from other universities as well as representatives from practice and journalists. In their projects and conferences, the researchers scientifically address current legal policy and economic issues in order to gain insights from the combination of practice and theory and to propose well-founded approaches to solutions.