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Working Papers

Abadi, Joseph, and Markus K. Brunnermeier. “Blockchain Economics.” n. pag. Print.
Arora, Sanjeev, Boaz Barak, Markus K. Brunnermeier, and Rong Ge. “Computational Complexity and Information Asymmetry in Financial Products.” : n. pag. Print.
Brunnermeier, Markus K., Pierre-Olivier Gourinchas, and Oleg Itskhoki. “Consumption-Led Growth.” n. pag.
Brunnermeier, Markus K., Sebastian Merkel, and Yuliy Sannikov. “Debt As Safe Asset.” n. pag. Print.
Brunnermeier, Markus K., Harold James, and Jean-Pierre Landau. “The Digitalization of Money.” : n. pag. Print.
Brunnermeier, Markus, and Yuliy Sannikov. “The I Theory of Money.” : n. pag. Print.
Brunnermeier, Markus K., and Yuliy Sannikov. “International Monetary Theory: A Risk Perspective.” n. pag. Print.
Brunnermeier, Markus K., and Jonathan Payne. “Platforms, Tokens, and Interoperability.” n. pag. Print.
Blickle, Kristian, Markus K. Brunnermeier, and Stephan Luck. “Who Can Tell Which Banks Will Fail?.” n. pag.

Submitted

Brunnermeier, Markus K., Sebastian Merkel, and Yuliy Sannikov. “The Fiscal Theory of the Price Level With a Bubble.” : n. pag. Print.
Brunnermeier, Markus K., Rohit Lamba, and Carlos Segura-Rodriguez. “Inverse Selection.” : n. pag. Print.
Brunnermeier, Markus K., Joseph Abadi, and Yann Koby. “The Reversal Interest Rate.” n. pag. Print.

In Preparation

Brunnermeier, Markus, and Valentin Haddad. “Safe Assets.” n. pag. Print.

2022

Brunnermeier, Markus K., Michael Sockin, and Wei Xiong. “China’s Model of Managing Its Financial System, Review of Economics Studies.” China’s Model of Managing its Financial System 2022: n. pag. Print.

2021

Brunnermeier, Markus K. “Feedbacks: Financial Markets and Economic Activity.” American Economic Review 111.6 (2021): 1845–1879.
Brunnermeier, Markus K. The Resilient Society. Endeavor Literary Press, 2021. Print.
Brunnermeier, Markus K., Sebastian Merkel, and Yuliy Sannikov. “A Safe Asset Perspective for an Integrated Policy Framework.” The Asian Monetary Policy Forum: Insights for Central Banking. World Scientific Publishing Co Pte Ltd, 2021.

2020

Brunnermeier, Markus K., Simon Rother, and Isabel Schnabel. “Asset Price Bubbles and Systemic Risk.” Review of Financial Studies 33 (2020): 4272–4317. 9 Vol.
Brunnermeier, Markus K., Gang Dong, and Darius Palia. “Banks’ Non-Interest Income and Systemic Risk.” Review of Corporate Financial Studies 9.2 (2020): 229–255.
Brunnermeier, Markus K., and Arvind Krishnamurthy. “Corporate Debt Overhang and Credit Policy.” Brooking Papers of Economic Activity Summer (2020): 447–488. Summer 2020.
Brunnermeier, Markus K., and Arvind Krishnamurthy. “The Macroeconomics of Corporate Debt.” Review of Corporate Financial Studies 9 (2020): 656–665. 3 Vol.

2019

Brunnermeier, Markus K., and Lunyang Huang. “A Global Safe Asset From and For Emerging Economies.” Monetary Policy and Financial Stability: Transmission Mechanisms and Policy Implications. Santiago de Chile: Central Bank of Chile, 2019. 111–167. Print.
Brunnermeier, Markus K., and Patrick Cheridito. “Measuring and Allocating Systemic Risk.” Risks 7.46 (2019): n. pag.
Brunnermeier, Markus K., and Dirk Niepelt. “On the Equivalence of Private and Public Money.” Journal of Monetary Economics 106 (2019): 27–41.

2018

Brunnermeier, Markus K., Rush Doshi, and Harold James. “Beijings’ Bismarckian Ghosts: How Great Powers Compete Economically.” The Washington Quarterly Fall (2018): n. pag. Print.

2017

Brunnermeier, Markus K., Michael Sockin, and Wei Xiong. “China’s Gradual Economics Approach and Financial Markets.” American Economic Review Papers and Proceedings 107.5 (2017): n. pag. Print.
Brunnermeier, Markus K., Marco Pagano, Sam Langfield, Stijn Van Nieuwerburgh, and Dimitri Vayanos. “ESBies: Safety in the Tranches.” Economic Policy (2017): n. pag. Print.
Brunnermeier, Markus K., and Yuliy Sannikov. “Macro, Money and Finance: A Continuous-Time Approach.” Handbook of Macroeconomics. 2B. North-Holland, 2017. 1497–1546. Print.
Brunnermeier, Markus K., Filippos Papakonstantinou, and Jonathan A. Parker. “Optimal Time-Inconsistent Beliefs: Misplanning, Procrastination, and Commitment.” Management Science 63.5 (2017): 1318–1314.

2016

Brunnermeier, Markus, and Isabel Schnabel. “Bubbles and Central Banks: Historical Perspectives.” Central Banks at a Crossroads: What Can We Learn from History? . Cambridge, UK: Cambridge University Press, 2016.
Adrian, Tobias, and Markus K. Brunnermeier. “CoVaR.” American Economic Review 106.7 (2016): 1705–1741. Print.
Brunnermeier, Markus, Harold James, and Jean-Pierre Landau. The Euro and the Battle of Ideas. Princeton, NJ, USA: Princeton University Press, 2016.
Brunnermeier, Markus K. Financial Dominance. Rome: Banca d’Italia, 2016. Print.
Brunnermeier, Markus, and Yuliy Sannikov. “On the Optimal Inflation Rate.” American Economic Review Papers and Proceedings 106.5 (2016): 484–489. Print.
Brunnermeier, Markus K., Luis Garicano, Philip Lane, Marco Pagano, Ricardo Reis, Tano Santos, David Thesmar, Stijn Van Nieuwerburgh, and Dimitri Vayanos. “The Sovereign-Banking Diabolic Loop and ESBies.” American Economic Review Papers and Proceedings 106.5 (2016): 508–512. Print.

2015

Brunnermeier, Markus, and Yuliy Sannikov. “International Credit Flows and Pecuniary Externalities.” American Economic Journal: Macroeconomics 7.1 (2015): 297–338. Print.

2014

Brunnermeier, Markus, Gary Gorton, and Arvind Krishnamurthy. “Liquidity Mismatch.” Risk Topography. Chicago: University of Chicago Press, 2014. Print.
Brunnermeier, Markus K., and Yuliy Sannikov. “A Macroeconomic Model With a Financial Sector.” American Economic Review 104.2 (2014): 379–421. Print.
Brunnermeier, Markus, and Yuliy Sannikov. “Monetary Analysis: Price and Financial Stability.” ECB Forum on Central Banking. Sintra, Portugal: N.p., 2014. Print.
Brunnermeier, Markus K., and Martin Oehmke. “Predatory Short Selling.” Review of Finance 18.6 (2014): 2153–2195.
Brunnermeier, Markus, Alp Simsek, and Wei Xiong. “A Welfare Criterion for Models With Biased Beliefs.” Quarterly Journal of Economics 129.4 (2014): 1711–1752. Print.

2013

Brunnermeier, Markus K., and Yuliy Sannikov. “ Redistributive Monetary Policy .” Jackson Hole Symposium 2013: 331–384.
Brunnermeier, Markus, and Martin Oehmke. “Bubbles, Financial Crises, and Systemic Risk.” Handbook of the Economics of Finance. Amsterdam: Elsevier, 2013. Print.
Brunnermeier, Markus, Patrick Bolton, and Laura Veldkamp. “Leadership, Coordination and Corporate Culture.” Review of Economic Studies 80.2 (2013): 512–537. Print.
Brunnermeier, Markus, Thomas Eisenbach, and Yuliy Sannikov. “Macroeconomics With Financial Frictions: A Survey.” Advances in Economics and Econometrics, Tenth World Congress of the Econometric Society. New York: Cambridge University Press, 2013. Print.
Brunnermeier, Markus, and Martin Oehmke. “The Maturity Rat Race.” Journal of Finance 68.2 (2013): 483–521. Print.
Brunnermeier, Markus, and Yuliy Sannikov. “Reviving Money and Banking.” Is Inflation Targeting Dead?. VoxEU, 2013. Print.

2012

Brunnermeier, Markus, Gary Gorton, and Arvind Krishnamurthy. “Risk Topography.” NBER Macroeconomics Annual 2011 26 (2012): 149–176. Print.

2011

Arora, Sanjeev, Boaz Barak, Markus K. Brunnermeier, and Rong Ge. “Computational Complexity and Information Asymmetry in Financial Products.” Communications of the ACM 2011: 101–107. 5 Vol.