Research Interests
Business Cycle Macroeconomics, Monetary and Fiscal Policy, and Labor Markets and Unemployment
Short Bio
- Since 2013 Professor (W3) of Macroeconomics at the Faculty of Business Administration, Economics and Social Sciences, University of Cologne
- 2005 - 2013 Senior Research Economist at the Deutsche Bundesbank, Frankfurt/M.
- 2005 - 2010 Visiting Lecturer at Goethe University Frankfurt (2010), Tel Aviv University, Israel (2009), Visiting Researcher at Tokyo University, Japan (2008), Federal Reserve Bank of Kansas City, USA (2005) and Federal Reserve Bank of Richmond, USA
- 1999 - 2005 Assistant Professor of Economics, Tilburg University, Netherlands
- 2003 Visiting Assistant Professor, The Johns Hopkins University, Baltimore, USA
- 1994 - 1999 Doctoral programme in Economics, Yale University, New Haven, U.S.A.
- 1989 - 1994 Diploma in Economics (VWL) at the Rheinische-Friedrich-Wilhelms-University, Bonn, Germany
Working Papers
- "International Capital Flows, External Assets, and Output Volatility", with Mathias Hoffmann and Peter Tillmann, Deutsche Bundesbank Discussion Paper, vol. 30/2014, revise and resubmit, Journal of International Economics.
- "Modeling Labor Markets in Macroeconomics: Search and Matching", with Thomas A. Lubik, Federal Reserve Bank of Richmond Working Paper, vol. 14/19, 2014.
- "On-the-job Search and the Cyclical Dynamics of the Labor Market", with Thomas A. Lubik, Bundesbank Discussion Paper, vol. 15/2007, 2009.
Publications
Hoffmann, M., Kliem, M., Krause, M., Moyen, S., & Šauer, R. (2021). Rebalancing the euro area: Is wage adjustment in Germany the answer? Journal of International Money and Finance, 119, 102497. DOI
Krause, M., & Lubik, T. A. (2021). Staatsverschuldung und Geldpolitik: Wege aus der Krise. Zeitschrift Für Wirtschaftspolitik, 70(1), 69–80. DOI
Braun, H., Döhrn, R., Krause, M., Micheli, M., & Schmidt, T. (2019). Macroeconomic Long-Run Effects of the German Minimum Wage when Labor Markets are Frictional. Jahrbücher Für Nationalökonomie Und Statistik, 240(2–3), 351–386. DOI
Hoffmann, M., Krause, M. U., & Tillmann, P. (2019). International capital flows, external assets and output volatility. Journal of International Economics, 117, 242–255. DOI
Hoffmann, M., Krause, M. U., & Laubach, T. (2017). The Expectations-driven US Current Account. The Economic Journal, 129(618), 897–924. DOI
Krause, M. U., & Moyen, S. (2016). Public Debt and Changing Inflation Targets. American Economic Journal: Macroeconomics, 8(4), 142–176. DOI
Krause, M. U., & Uhlig, H. (2012). Transitions in the German labor market: Structure and crisis. Journal of Monetary Economics, 59(1), 64–79. DOI
Hoffmann, M., Krause, M. U., & Laubach, T. (2012). Trend growth expectations and U.S. house prices before and after the crisis. Journal of Economic Behavior & Organization, 83(3), 394–409. DOI
Walque, G., Krause, M., Millard, S., Jimeno, J., Bihan, H. L., & Smets, F. (2010). SOME MACROECONOMIC AND MONETARY POLICY IMPLICATIONS OF NEW MICRO EVIDENCE ON WAGE DYNAMICS. Journal of the European Economic Association, 8(2–3), 506–513. DOI
Krause, M. U., Lopez-Salido, D. J., & Lubik, T. A. (2008). Do search frictions matter for inflation dynamics? European Economic Review, 52(8), 1464–1479. DOI
Krause, M. U., Lopez-Salido, D., & Lubik, T. A. (2008). Inflation dynamics with search frictions: A structural econometric analysis. Journal of Monetary Economics, 55(5), 892–916. DOI
Krause, M. U., & Lubik, T. A. (2007). The (ir)relevance of real wage rigidity in the New Keynesian model with search frictions. Journal of Monetary Economics, 54(3), 706–727. DOI
Krause, M. U., & Lubik, T. A. (2006). The cyclical upgrading of labor and on-the-job search. Labour Economics, 13(4), 459–477. DOI
Non-refereed Publications
- "Does Intra-Firm Bargaining Matter for Business Cycle Dynamics?", with Thomas Lubik (Federal Reserve Bank of Richmond), Economic Quarterly 99(3), pp. 229-250, 2013.
- "Instability and Indeterminacy in Search and Matching Models", with Thomas A. Lubik (Federal Reserve Bank of Richmond), Economic Quarterly 96(3), pp. 259-272, 2010.