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Lehrstuhl für Monetäre Ökonomik

Der Lehrstuhl für Monetäre Ökonomik wurde im September 2007 innerhalb der Economics Group der WHU gegründet. Hier dreht sich alles um die Integration des Fachbereichs Ökonomie in den Lehrplan unserer Hochschule. Gleichzeitig treiben Professor Dr. Ralf Fendel als Lehrstuhlinhaber und seine Wissenschaftlichen Mitarbeiter die Forschung in diesem Bereich entscheidend voran.
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Unsere Forschung Unsere Lehre Publikationen Alumni

Unser Team

Prof. Dr. Ralf Fendel
Prof. Dr. Ralf Fendel
Lehrstuhlinhaber
ralf.fendel(at)whu.edu
+49 (0)261 6509 290
Nicole Schuster
Nicole Schuster
Personal Assistant
nicole.schuster(at)whu.edu
+49 (0)261 6509 291
Dhruv Patel
Dhruv Patel
Wissenschaftlicher Mitarbeiter
Dhruv.Patel(at)whu.edu
+49 (0)261 6509 292
Talena Wahl
Talena Wahl
Externe Doktorandin
talena.wahl(at)whu.edu
Daniel Winkler
Daniel Winkler
Externer Doktorand
daniel.winkler(at)whu.edu

Unsere Forschung – Wir stellen Politik, Theorie und praktische Anwendung in den Vordergrund.

Unsere Forschungsgebiete umfassen Geldtheorie und Geldpolitik sowie internationale Makroökonomie und Europäische Integration. Der Lehrstuhl ist dabei in ein internationales Forschungsnetzwerk eingebunden. Die Forschung unseres Lehrstuhls und der Lehrplan an der WHU sind eng aneinandergekoppelt, sodass die Studierenden während ihrer Kurse jederzeit Zugang zu neuesten Forschungsergebnissen und -methoden haben. Sowohl unsere Forschung als auch unser Lehrplan sind von hoher praktischer Relevanz.

Unsere Lehre - Neueste ökonomische Erkenntnisse

Der Lehrstuhl für Monetäre Ökonomik bietet Kurse im Bachelor of Science (Bachelor in International Business Administration) und im Master of Science Programm an (Master in Management und Master in Finance).

Courses Spring Term 2024
Money, Banking, and Financial Markets
Ralf Fendel

Courses Fall Term 2023
European Integration: Economics, History and Policy
Ralf Fendel

Money, Banking, and Financial Markets
Ralf Fendel

Courses Spring Term 2024
Economics of Financial Markets
Ralf Fendel, Niklas Gadatsch

Courses Fall Term 2023
Monetary Economics and Central Banking
Ralf Fendel

Unsere Publikationen – Neueste Artikel, Bücher und Kapitel.

Die vollständige Publikationsliste steht hier zum Download bereit.

Applied Economics Letters

Does forward guidance of the ECB matter for the accuracy of private sector inflation forecasts?

Burden, D., Fendel, R., Zimmermann, L. (2023), Does forward guidance of the ECB matter for the accuracy of private sector inflation forecasts?, Applied Economics Letters, Vol. 30 (9), pp. 1213-1217.

Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik

Verglüht der Stern der Modern Monetary Theory?

Fendel, R., Schmidt, A. (2023), Verglüht der Stern der Modern Monetary Theory? Is the star of modern monetary theory burning out?, Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik, Vol. 103 (1), pp. 48-54.

Das Wirtschaftsstudium

Klimawandel: Finanzstabilität und Geldpolitik

Fendel, R. (2023), Klimawandel: Finanzstabilität und Geldpolitik, Das Wirtschaftsstudium, Vol. 8-9, pp. 875-879.

Global Finance Journal

Special issue on "financial crisis and its effects on the European economy"

Fendel, R., Frenkel, M. (2022), Special issue on "financial crisis and its effects on the European economy", Global Finance Journal, Vol. 51, 100544.

Economies : Open Access Journal

Comparing the situation of FinTech start-ups in Russia and Germany through equity investments

Kostin, K. B., Fendel, R., Wild, F. (2022), Comparing the situation of FinTech start-ups in Russia and Germany through equity investments, Economies : Open Access Journal, Vol. 10 (2), 33.

Global Finance Journal

Tail risk in the european sovereign bond market during the financial crises

Fendel, R., Neumann, C. (2021), Tail risk in the european sovereign bond market during the financial crises: detecting the influence of the European Central Bank, Global Finance Journal, Vol. 50, 100505.

Applied Economics Letters

ECB's communication and the yield curve

Fendel, R., Neugebauer, F., Kilinc, M. (2021), ECB's communication and the yield curve: core versus periphery effects, Applied Economics Letters, Vol. 28 (8), pp. 630-634.

Journal of Forecasting

Recession probabilities for the Eurozone at the zero lower bound

Fendel, R., Mai, N., Mohr, O. (2021), Recession probabilities for the Eurozone at the zero lower bound: challenges to the term spread and rise of alternatives, Journal of Forecasting, Vol. 40 (6), pp. 1000-1026.

Finance Research Letters

Reactions of Euro area government yields to Covid-19 related policy measure announcements by the European Commission and the European Central Bank

Fendel, R., Neugebauer, F., Zimmermann, L. (2021), Reactions of Euro area government yields to Covid-19 related policy measure announcements by the European Commission and the European Central Bank, Finance Research Letters, Vol. 42, 101917.

Wirtschaftswissenschaftliches Studium

Inflationsentwicklung in Zeiten von Corona

Fendel, R., Neugebauer, F. (2021), Inflationsentwicklung in Zeiten von Corona, Wirtschaftswissenschaftliches Studium, Vol. 50 (6), pp. 27-35.

Applied Economics Letters

Political news and stock prices

Burggraf, T., Fendel, R., Huynh, T. L. D. (2020), Political news and stock prices: evidence from Trump’s trade war, Applied Economics Letters, Vol. 27 (18), pp. 1485-1488.

German Economic Review

Country-specific Euro area government bond yield reactions to ECB's non-standard monetary policy program announcements

Fendel, R., Neugebauer, F. (2020), Country-specific Euro area government bond yield reactions to ECB's non-standard monetary policy program announcements, German Economic Review, Vol. 21 (4), pp. 417-474.

International Journal of Economics and Finance

The effect of the ECB's forward guidance on interest rates forecasts

Fendel, R., Heins , J., Mohr, O. (2020), The effect of the ECB's forward guidance on interest rates forecasts, International Journal of Economics and Finance, Vol. 12 (8), pp. 52-64.

Applied Economics and Finance

The shape of Eurozone's uncertainty

Fendel, R., Mai, N., Mohr, O. (2020), The shape of Eurozone's uncertainty: its impact and predictive value on GDP, Applied Economics and Finance, Vol. 7 (6), pp. 1-18.

Jahrbücher für Nationalökonomie und Statistik = Journal of Economics and Statistics

20 years of European Monetary Union

Fendel, R., Frenkel, M. (2019), 20 years of European Monetary Union: Editorial, Jahrbücher für Nationalökonomie und Statistik = Journal of Economics and Statistics, Vol. 239 (5/6), pp. 765-767.

Jahrbücher für Nationalökonomie und Statistik = Journal of Economics and Statistics

Putting European monetary integration into a historical perspective

Fendel, R., Frenkel, M. (2019), Putting European monetary integration into a historical perspective: two decades of the European monetary system versus two decades of the European monetary union, Jahrbücher für Nationalökonomie und Statistik = Journal of Economics and Statistics, Vol. 239 (5/6), pp. 769–795.

Empirical Economics

National information and euro area monetary policy

Bräuning, C., Fendel, R. (2018), National information and euro area monetary policy: a generalized ordered choice approach, Empirical Economics, Vol. 54 (2), pp. 501-522.

Applied Economics Letters

Improved output gaps with financial cycle information?

Amberger, J., Fendel, R., Stremmel, H. (2017), Improved output gaps with financial cycle information? an application to G7 countries' new Keynesian Phillips curves, Applied Economics Letters, Vol. 24, pp. 219-228.

Empirica : Journal of European Economics

Understanding inflation dynamics in the Euro Area

Amberger, J., Fendel, R. (2017), Understanding inflation dynamics in the Euro Area: deviants and commonalities across member countries, Empirica : Journal of European Economics, Vol. 44, pp. 261-293.

Applied Economics and Finance

The slope of the Euro Area Phillips curve

Amberger, J., Fendel, R. (2017), The slope of the Euro Area Phillips curve: always and everywhere the same?, Applied Economics and Finance, Vol. 4, pp. 77-88.

Applied Economics Letters

Does forward guidance of the ECB matter for the accuracy of private sector inflation forecasts?

Burden, D., Fendel, R., Zimmermann, L. (2023), Does forward guidance of the ECB matter for the accuracy of private sector inflation forecasts?, Applied Economics Letters, Vol. 30 (9), pp. 1213-1217.

Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik

Verglüht der Stern der Modern Monetary Theory?

Fendel, R., Schmidt, A. (2023), Verglüht der Stern der Modern Monetary Theory? Is the star of modern monetary theory burning out?, Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik, Vol. 103 (1), pp. 48-54.

Das Wirtschaftsstudium

Klimawandel: Finanzstabilität und Geldpolitik

Fendel, R. (2023), Klimawandel: Finanzstabilität und Geldpolitik, Das Wirtschaftsstudium, Vol. 8-9, pp. 875-879.

Global Finance Journal

Special issue on "financial crisis and its effects on the European economy"

Fendel, R., Frenkel, M. (2022), Special issue on "financial crisis and its effects on the European economy", Global Finance Journal, Vol. 51, 100544.

Economies : Open Access Journal

Comparing the situation of FinTech start-ups in Russia and Germany through equity investments

Kostin, K. B., Fendel, R., Wild, F. (2022), Comparing the situation of FinTech start-ups in Russia and Germany through equity investments, Economies : Open Access Journal, Vol. 10 (2), 33.

Global Finance Journal

Tail risk in the european sovereign bond market during the financial crises

Fendel, R., Neumann, C. (2021), Tail risk in the european sovereign bond market during the financial crises: detecting the influence of the European Central Bank, Global Finance Journal, Vol. 50, 100505.

Applied Economics Letters

ECB's communication and the yield curve

Fendel, R., Neugebauer, F., Kilinc, M. (2021), ECB's communication and the yield curve: core versus periphery effects, Applied Economics Letters, Vol. 28 (8), pp. 630-634.

Journal of Forecasting

Recession probabilities for the Eurozone at the zero lower bound

Fendel, R., Mai, N., Mohr, O. (2021), Recession probabilities for the Eurozone at the zero lower bound: challenges to the term spread and rise of alternatives, Journal of Forecasting, Vol. 40 (6), pp. 1000-1026.

Finance Research Letters

Reactions of Euro area government yields to Covid-19 related policy measure announcements by the European Commission and the European Central Bank

Fendel, R., Neugebauer, F., Zimmermann, L. (2021), Reactions of Euro area government yields to Covid-19 related policy measure announcements by the European Commission and the European Central Bank, Finance Research Letters, Vol. 42, 101917.

Wirtschaftswissenschaftliches Studium

Inflationsentwicklung in Zeiten von Corona

Fendel, R., Neugebauer, F. (2021), Inflationsentwicklung in Zeiten von Corona, Wirtschaftswissenschaftliches Studium, Vol. 50 (6), pp. 27-35.

Applied Economics Letters

Political news and stock prices

Burggraf, T., Fendel, R., Huynh, T. L. D. (2020), Political news and stock prices: evidence from Trump’s trade war, Applied Economics Letters, Vol. 27 (18), pp. 1485-1488.

German Economic Review

Country-specific Euro area government bond yield reactions to ECB's non-standard monetary policy program announcements

Fendel, R., Neugebauer, F. (2020), Country-specific Euro area government bond yield reactions to ECB's non-standard monetary policy program announcements, German Economic Review, Vol. 21 (4), pp. 417-474.

International Journal of Economics and Finance

The effect of the ECB's forward guidance on interest rates forecasts

Fendel, R., Heins , J., Mohr, O. (2020), The effect of the ECB's forward guidance on interest rates forecasts, International Journal of Economics and Finance, Vol. 12 (8), pp. 52-64.

Applied Economics and Finance

The shape of Eurozone's uncertainty

Fendel, R., Mai, N., Mohr, O. (2020), The shape of Eurozone's uncertainty: its impact and predictive value on GDP, Applied Economics and Finance, Vol. 7 (6), pp. 1-18.

Jahrbücher für Nationalökonomie und Statistik = Journal of Economics and Statistics

20 years of European Monetary Union

Fendel, R., Frenkel, M. (2019), 20 years of European Monetary Union: Editorial, Jahrbücher für Nationalökonomie und Statistik = Journal of Economics and Statistics, Vol. 239 (5/6), pp. 765-767.

Jahrbücher für Nationalökonomie und Statistik = Journal of Economics and Statistics

Putting European monetary integration into a historical perspective

Fendel, R., Frenkel, M. (2019), Putting European monetary integration into a historical perspective: two decades of the European monetary system versus two decades of the European monetary union, Jahrbücher für Nationalökonomie und Statistik = Journal of Economics and Statistics, Vol. 239 (5/6), pp. 769–795.

Empirical Economics

National information and euro area monetary policy

Bräuning, C., Fendel, R. (2018), National information and euro area monetary policy: a generalized ordered choice approach, Empirical Economics, Vol. 54 (2), pp. 501-522.

Applied Economics Letters

Improved output gaps with financial cycle information?

Amberger, J., Fendel, R., Stremmel, H. (2017), Improved output gaps with financial cycle information? an application to G7 countries' new Keynesian Phillips curves, Applied Economics Letters, Vol. 24, pp. 219-228.

Empirica : Journal of European Economics

Understanding inflation dynamics in the Euro Area

Amberger, J., Fendel, R. (2017), Understanding inflation dynamics in the Euro Area: deviants and commonalities across member countries, Empirica : Journal of European Economics, Vol. 44, pp. 261-293.

Applied Economics and Finance

The slope of the Euro Area Phillips curve

Amberger, J., Fendel, R. (2017), The slope of the Euro Area Phillips curve: always and everywhere the same?, Applied Economics and Finance, Vol. 4, pp. 77-88.

Vahlen Verlag, München [‘National Accounting’]

Volkswirtschaftliche Gesamtrechnung

Fendel, R. and Frenkel, M. (2022)
Vahlen Verlag, München [‘National Accounting’]

Volkswirtschaftliche Gesamtrechnung

Fendel, R. and Frenkel, M. (2022)
Staatslexikon: Recht, Wirtschaft, Gesellschaft, Herder Verlag.

Volkswirtschaftliche Gesamtrechnung

Fendel, R. and Frenkel, M. (2021)
Progress in Economics Research, vol. 40, Nova Science Publisher, Hauppauge (New York), 1-57.

Exploring Economic History: Dutch Governmental Structure and Foreign Trade Policy Success

Fendel, R. and Welsch-Lehmann, N. (2018),1602-1672, in: Tavidze, A.
Staatslexikon: Recht, Wirtschaft, Gesellschaft, Herder Verlag.

Volkswirtschaftliche Gesamtrechnung

Fendel, R. and Frenkel, M. (2021)
Progress in Economics Research, vol. 40, Nova Science Publisher, Hauppauge (New York), 1-57.

Exploring Economic History: Dutch Governmental Structure and Foreign Trade Policy Success

Fendel, R. and Welsch-Lehmann, N. (2018),1602-1672, in: Tavidze, A.

Nach der WHU – Das machen unsere Alumni heute.

Als Experten auf dem Gebiet der Monetären Ökonomik übernehmen unsere Alumni oft hochrangige Positionen in internationalen Organisationen. Lesen Sie hier mehr über die Karriere-Wege, die einige unserer Alumni eingeschlagen haben, sowie ihre Dissertationen an der WHU.

NameDissertationstitel
Dr. Johanna AmbergerInflation Dynamics Comparison across Countries and Time
Dr. Niklas GadatschMacroeconomic Effects of Fiscal Policy: A DSGE Approach
Dr. Oliver MohreMonetary Policy at the Zero Lower Bound
Dr. Hanno StremmelOn the Determinants of Banking Crises: Micro- and Macro-Prudential Approaches
Dr. Dirk BleichMonetary Policy Rules: Empirical Applications based on Survey Data
Dr. Elmar JordanFinancial Stability in the Euro Area
Dr. Frederik NeugebauerFinancial Market Reactions to Central Bank Communication
Dr. Christina StrobachEssays on Inflation: Expectations and Uncertainty

Kontaktieren Sie uns –

Wir freuen uns auf Ihre Nachricht.
Prof. Dr. Ralf Fendel
Prof. Dr. Ralf Fendel
Lehrstuhlinhaber
ralf.fendel(at)whu.edu
+49 (0)261 6509 290
Lebenslauf Ralf Fendel
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Economics Group Fakultät & Forschung Über die WHU
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