Macroeconomics and Financial MarketsResearch Cluster
The work of the research cluster is geared towards political relevance The cluster's scientific advisory activity specifically targets national, European and international economic and development policy.
The Macroeconomics and Financial Markets research cluster consists of the research de-partment Macroeconomics and the focus departments for "Business Cycle Policy" and "Development and Security". All departments have in common a quantitative empirical orientation using modern econometric methods. Depending on the content, the work is based on either microeconomic or macroeconomic approaches.
The departments in this research cluster work in three thematic areas:
- Development, growth, and the business cycle: The central topic of the research cluster is the change in economic conditions and research into the drivers of this development. Here, both quantitative and qualitative changes are investigated and the interactions between structural changes and the growth processes are analyzed.
- Globalization, integration, and institutions: One interface between the departments in terms of content is the consideration of international correlations of economic activity, primarily in connection to the constantly increasing global integration of product, labor, and financial markets. Institutional aspects of these processes and their form are taken into account.
- Conflict, shocks, and uncertainty: Uncertainty is central to the understanding of economic processes. The departments examine the adjustment behavior of economic players and economies in the face of uncertainty, for instance, in the form of shocks or conflicts.