Die Forschung am Lehrstuhl für Makroökonomik befasst sich insbesondere mit der Analyse makroökonomischer Zusammenhänge mittels dynamischer stochastischer Modelle. Besondere Forschungsschwerpunkte sind:

• Macrofinance, insbesondere die makroökonomische Rolle von Kreditsicherheiten und Kreditbeschränkungen
• Computational Economics, insbesondere numerische Methoden zur Berechnung globaler Lösungen von hoch-dimensionalen dynamisch-stochastischen Gleichgewichtsmodellen
• Allgemeine Gleichgewichtstheorie, insbesondere die Existenz von rekursiven Gleichgewichten in dynamisch-stochastischen Modellen mit heterogenen Agenten
• Staatsverschuldung, insbesondere Wohlfahrtseffekte bei niedrigem Realzinssatz

Relevante Publikationen, Arbeitspapiere und laufende Forschungsprojekte sind unten aufgelistet.

Macrofinance

Margin Regulation and Volatility (Johannes Brumm, Michael Grill, Felix Kubler and Karl Schmedders), Journal of Monetary Economics, Volume 75, 54-68, October 2015

Collateral Requirements and Asset Prices (Johannes Brumm, Michael Grill, Felix Kubler and Karl Schmedders), International Economic Review, Volume 56(1), 1-25, February 2015

Entrepreneurial Risk, Collateral Constraints, and Macroeconomic Fluctuations (Johannes Brumm), working paper

Re-use of Collateral: Leverage, Volatility, and Welfare (Johannes Brumm, Michael Grill, Felix Kubler, and Karl Schmedders), Review of Economic Dynamics, Volume 47, 19-46, January 2023

Computational Economics

Using Adaptive Sparse Grids to Solve High-Dimensional Dynamic Models (Johannes Brumm and Simon Scheidegger), Econometrica, Volume 85(5), 1575-1612, September 2017

Computing Equilibria in Dynamic Stochastic Macro-models with Heterogeneous Agents (Johannes Brumm, Felix Kubler, and Simon Scheidegger), Advances in Economics and Econometrics: Theory and Applications (Eleventh World Congress), November 2017

Scalable High-Dimensional Dynamic Stochastic Economic Modeling (Johannes Brumm, Dmitry Mikushin, Simon Scheidegger, and Olaf Schenk), Journal of Computational Science, Volume 11, 12–25, November 2015

Computing Equilibria in Dynamic Models with Occasionally Binding Constraints (Johannes Brumm and Michael Grill), Journal of Economic Dynamics and Control, Volume 38, 142-160, January 2014

Sparse grids for dynamic economic models (Johannes Brumm, Christopher Krause, Andreas Schaab, and Simon Scheidegger), Oxford Research Encyclopedia of Economics and Finance, November 2022

Applying Negishi’s method to stochastic models with overlapping generations (Johannes Brumm and Felix Kubler), working paper

Allgemeine Gleichgewichtstheorie

Recursive Equilibria in Dynamic Economies with Stochastic Production (Johannes Brumm, Dominika Kryczka, and Felix Kubler), Econometrica, Volume 85(5), 1467-1499, September 2017

Applying Negishi’s method to stochastic models with overlapping generations (Johannes Brumm and Felix Kubler), working paper

Staatsverschuldung

When Interest Rates Go Low, Should Public Debt Go High? (Johannes Brumm, Xiangyu Feng, Laurence Kotlikoff, and Felix Kubler), American Economic Journal: Macroeconomics, forthcoming

Are Deficits Free? (Johannes Brumm, Xiangyu Feng, Laurence Kotlikoff, and Felix Kubler), Journal of Public Economics, Volume 208, April 2022

Optimal Debt to GDP: A Quantitative Theory (Johannes Brumm, Jakob Hußmann), working paper

Andere Themen

Reform Support in Times of Crisis: The Role of Family Ties (Elias Brumm and Johannes Brumm), Economic Inquiry, Volume 55(3), 1416-1429, July 2017

Global Value Chain Participation and Current Account Imbalances (Johannes Brumm, Georgios Georgiadis, Johannes Gräb, and Fabian Trottner), Journal of International Money and Finance, Volume 97, 111-124, October 2019