Faculty of Economics and Business Administration Publications Database

Author

Prof. Volker Wieland, Ph.D.


Department

  • Money and Macroeconomics

Chair

  • Chair of Monetary Theory and Policy

Academic / Professional Positions

  • Since 2012: Managing Director of the Institute for Monetary and Financial Stability (IMFS), Goethe University
  • Since 2000: Professor, Goethe University Frankfurt, Germany
  • 2000: Senior Economist, Division of Monetary Affairs, Federal Reserve Board, Washington DC, USA
  • 1995 - 2000: Economist, Division of Monetary Affairs, Federal Reserve Board, Washington DC, USA

Education

  • 1990 - 1995: Ph.D. in Economics, Stanford University, USA, Thesis: Optimal Control with Unknown Parameters - A Study of Optimal Learning Strategies with an Application to Monetary Policy
  • 1989 - 1990: Adv. Studies in International Economics, Institute of World Economics, Kiel, Germany
  • 1988 - 1989: M.A. in Economics, State University of New York at Albany, USA
  • 1986 - 1988: Pre-Diploma in Economics, University Würzburg, Germany

Research Interests

  • Macroeconomics and Monetary Economics
  • International Finance
  • Computational Economics

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Author Publications

Refocusing the European Fiscal Framework
2018 Feld, Lars P.
Schmidt, Christoph
Schnabel, Isabel
Wieland, Volker
Vor wichtigen wirtschaftspolitischen Weichenstellungen, Jahresgutachten 2018-2019 (Setting the Right Course for Economic Policy, Annual Report 2018-2019)
2018 Bofinger, Peter
Feld, Lars P.
Schmidt, Christoph
Schnabel, Isabel
Wieland, Volker
Lower for longer: The case of the ECB
Economics Letters
2017 Bletzinger, Tilman
Wieland, Volker
Die Balance zwischen Eigenverantwortung und gemeinschaftlichem Handeln für ein starkes Europa (The balance between national responsibility and joint action for a strong Europe)
2017 Feld, Lars P.
Schmidt, Christoph
Schnabel, Isabel
Wieland, Volker
Risiken und Nebenwirkungen einer lang anhaltenden Niedrigzinspolitik (Risks and side-effects of a long-lasting low interest rate policy)
2017
Wieland, Volker
R-Star and the Yellen rules
2017 Michaelis, Henrike
Wieland, Volker
R-Star and the Draghi rules: Correctly measuring the equilibrium interest rate for policy use
2017 Michaelis, Henrike
Wieland, Volker
Neue Diskriminierungsverbote für die digitale Welt? (New bans on discrimination in the digital world?)
2017 Feld, Lars P.
Fuest, Clemens
Haucap, Justus
Schweitzer, Heike
Wieland, Volker
Berthold U., Wigger
How to Normalize Monetary Policy in the Euro Area
2017 Beck, Günter W.
Wieland, Volker
Quantitative Easing in the Euro Area: Its Record and Future Prospects
2017 Beck, Günter W.
Wieland, Volker
Weckruf für die deutsche Wirtschaftspolitik (Wake-up call for the German economic policy)
2017 Feld, Lars P.
Fuest, Clemens
Haucap, Justus
Schweitzer, Heike
Wieland, Volker
Berthold U., Wigger
Für eine zukunftsorientierte Wirtschaftspolitik, Jahresgutachten 2017-2018 (Towards a Forward-Looking Economic Policy, Annual Report 2017-2018)
2017 Bofinger, Peter
Feld, Lars P.
Schmidt, Christoph
Schnabel, Isabel
Wieland, Volker
Finding the Equilibrium Real Interest Rate in a Fog of Policy Deviations
Business Economics
2016 Taylor, John B.
Wieland, Volker
Das entgrenzte Mandat der EZB – Das OMT-Urteil des EuGH und seine Folgen (Dismantling the Boundaries of the ECB’s Monetary Policy Mandate – The CJEU’s OMT Judgement and Its Consequences)
2016 Feld, Lars P.
Fuest, Clemens
Haucap, Justus
Schweitzer, Heike
Wieland, Volker
Berthold U., Wigger
Causes of the Eurozone Crisis: A nuanced view
2016 Feld, Lars P.
Schmidt, Christoph
Schnabel, Isabel
Wieland, Volker
Einheit in Vielfalt: Wie es mit Europa weitergehen kann (Unity in diversity: How Europe can proceed)
2016 Feld, Lars P.
Schmidt, Christoph
Schnabel, Isabel
Wieland, Volker
Zeit für Reformen (Time for Reforms): Annual Economic Report 2016-2017 of the German Council of Economic Experts
2016 Bofinger, Peter
Feld, Lars P.
Schmidt, Christoph
Schnabel, Isabel
Wieland, Volker
The ECB’s Outright Monetary Transactions in the Courts
2015 Siekmann, Helmut
Vig, Vikrant
Wieland, Volker
Für eine freie Preisbildung (For a free price formation)
2015 Feld, Lars P.
Fuest, Clemens
Haucap, Justus
Schweitzer, Heike
Wieland, Volker
Berthold U., Wigger
Erbschaftsteuer: Neuordnen statt nachbessern (Inheritance tax: rearranging instead of repairing)
2015 Feld, Lars P.
Fuest, Clemens
Haucap, Justus
Schweitzer, Heike
Wieland, Volker
Berthold U., Wigger
Schätzung des mittelfristigen Gleichgewichtszinses in den Vereinigten Staaten, Deutschland und dem Euro-Raum mit der Laubach-Williams-Methode (Estimating the medium-term equilibrium real interest rate in the United States, Germany and the Euro Area with the Laubach-Williams method)
2015 Beyer, Robert C. M.
Wieland, Volker
Konsequenzen aus der Griechenland-Krise für einen stabileren Euro-Raum (Consequences of the Greek crisis for a more stable euro area): special report of the German Council of Economic Experts
2015 Bofinger, Peter
Feld, Lars P.
Schmidt, Christoph
Schnabel, Isabel
Wieland, Volker
Europäische Integration klug vorantreiben (Wisely promoting European integration)
2015 Feld, Lars P.
Schmidt, Christoph
Schnabel, Isabel
Wieland, Volker
Zukunftsfähigkeit in den Mittelpunkt (Focus on Future Viability): Annual Economic Report 2015-2016 of the German Council of Economic Experts
2015 Bofinger, Peter
Feld, Lars P.
Schmidt, Christoph
Schnabel, Isabel
Wieland, Volker
Keine Notwendigkeit einer Reform des Gesetzes zur Förderung der Stabilität und des Wachstums der Wirtschaft (No necessity for a reform of the Stability and Growth Law)
2015 Bofinger, Peter
Elstner, Steffen
Feld, Lars P.
Michaelis, Henrike
Schmidt, Christoph
Schnabel, Isabel
Wieland, Volker
Neustart in der Energiepolitik jetzt! (A New Start in Energy Policy Now!)
2014 Feld, Lars P.
Fuest, Clemens
Haucap, Justus
Schweitzer, Heike
Wieland, Volker
Berthold U., Wigger
Is there a threat of self-reinforcing deflation in the euro area? A view through the lens of the Phillips curve
2014
Wieland, Volker
Wolters, Maik H.
Europäische Bankenunion: Vom Prinzip Hoffnung zum Prinzip Haftung (European Banking Union: From the principle of hope to the principle of accountability)
2014 Feld, Lars P.
Fuest, Clemens
Haucap, Justus
Schweitzer, Heike
Wieland, Volker
Berthold U., Wigger
The German Constitutional Court’s decision on OMT: Have markets misunderstood?
2014 Siekmann, Helmut
Wieland, Volker
Mehr Vertrauen in Marktprozesse (More confidence in market processes): Annual Economic Report 2014-15 of the German Council of Economic Experts
2014 Bofinger, Peter
Feld, Lars P.
Schmidt, Christoph
Schnabel, Isabel
Wieland, Volker
Fiscal Consolidation Strategy
Journal of Economic Dynamics and Control
Selected
2013 Cogan, John F.
Taylor, John B.
Wieland, Volker
Wolters, Maik H.
Complexity and Monetary Policy
International Journal of Central Banking
2013 Orphanides, Athanasios
Wieland, Volker
Monetary Theory and Monetary Policy: Reflections on the Development over the last 150 Years
Jahrbücher für Nationalökonomie und Statistik / Journal of Economics and Statistics
2013 Issing, Otmar
Wieland, Volker
The New Keynesian Approach to Dynamic General Equilibrium Modeling: Models, Methods and Macroeconomic Policy Evaluation
2013
Wieland, Volker
Schmidt, Sebastian
The ECB and Its Watchers 2012
2013 Siekmann, Helmut
Wieland, Volker
Central Banking: Where are we headed?
2013 Siekmann, Helmut
Wieland, Volker
The European Central Bank's Outright Monetary Transactions and the Federal Constitutional Court of Germany
2013 Siekmann, Helmut
Wieland, Volker
Bildungsfinanzierung neugestalten (Reform of the Financing of Education)
2013 Feld, Lars P.
Haucap, Justus
Wieland, Volker
Berthold U., Wigger
Renaissance der Angebotspolitik (Renaissance of Supply-Side Policy)
2013 Feld, Lars P.
Fuest, Clemens
Haucap, Justus
Wieland, Volker
Berthold U., Wigger
Gegen eine rückwärtsgewandte Wirtschaftspolitik (Against a Backward-Looking Economic Policy): Annual Economic Report 2013-14 of the German Council of Economic Experts
2013 Bofinger, Peter
Buch, Claudia
Feld, Lars P.
Schmidt, Christoph
Wieland, Volker
Forecasting and Policy Making
North Holland
2013
Wieland, Volker
Wolters, Maik H.
Surprising Comparative Properties of Monetary Models: Results from a New Monetary Model Base
Review of Economics and Statistics
Selected
2012 Taylor, John B.
Wieland, Volker
A New Comparative Approach to Macroeconomic Modeling and Policy Analysis
Journal of Economic Behavior and Organization
2012
Wieland, Volker
Cwik, Tobias
Müller, Gernot J.
Schmidt, Sebastian
Wolters, Maik H.
Die Notenbanken und das liebe Geld
Forschung Frankfurt
2012
Wieland, Volker
Next Hike End of 2014: FOMC Matches Historical Responses to Member’s Forecasts and Risks Repeating Earlier Mistakes
2012
Wieland, Volker
Reform der Geldbußen im Kartellrecht überfällig (Reform of the Fining Practices in Competition Law)
2012 Feld, Lars P.
Möschel, Wernhard
Wieland, Volker
Berthold U., Wigger
Wie viel Koordinierung braucht Europa? (How much Coordination does Europe Need?)
2012 Feld, Lars P.
Haucap, Justus
Möschel, Wernhard
Wieland, Volker
Berthold U., Wigger
Model Comparison and Robustness: A Proposal for Policy Analysis after the Financial Crisis
Edward Elgar Publishing
2012
Wieland, Volker
Keynesian Government Spending Multipliers and Spillovers in the Euro Area
Economic Policy
2011 Cwik, Tobias
Wieland, Volker
The Diversity of Forecasts from Macroeconomic Models of the U.S. Economy
Economic Theory
2011
Wieland, Volker
Wolters, Maik H.
Liquidity Management and the Reform of the International Monetary System
2011
Wieland, Volker
Systemstabilität für die Finanzmärkte (Systemic Stability of Financial Markets)
2011 Donges, Juergen B.
Feld, Lars P.
Möschel, Wernhard
Neumann, Manfred J. M.
Wieland, Volker
New Keynesian versus Old Keynesian Government Spending Multipliers
Journal of Economic Dynamics and Control
Selected
2010 Cogan, John F.
Cwik, Tobias
Taylor, John B.
Wieland, Volker
Insurance Policies for Monetary Policy in the Euro Area
Journal of the European Economic Association
Selected
2010 Kuester, Keith
Wieland, Volker
Fiscal Stimulus and the Promise of Future Spending Cuts
International Journal of Central Banking
2010
Wieland, Volker
The Science and Practice of Monetary Policy Today - The Deutsche Bank Prize in Financial Economics 2007
Springer Verlag
2010
Wieland, Volker
Money in Monetary Policy Design: Monetary Cross-Checking in the New-Keynesian Model
Springer
2010 Beck, Günter W.
Wieland, Volker
Mean Variance Optimization of Nonlinear Systems and Worst-Case Analysis
Computational Optimization and Applications
2009 Parpas, Panos
Berc, Rustem
Wieland, Volker
Zakovic, Stan
Central Bank Misperceptions and the Role of Money in Interest-Rate Rules
Journal of Monetary Economics
Selected
2008 Beck, Günter W.
Wieland, Volker
Fiscal Action versus Monetary Stimulus: A Faulty Comparison
SIEPR Policy Brief
2008
Wieland, Volker
Aprendizaje, Indexacion Endogena y Desinflacion en el Modelo Neo-keynesiano. (Learning, Endogenous Indexation, and Disinflation in the New-Keynesian Model. With English summary.)
Economía Chilena
2008
Wieland, Volker
Economic Projections and Rules of Thumb for Monetary Policy
Federal Reserve Bank of St. Louis Review
2008 Orphanides, Athanasios
Wieland, Volker
Fiscal Action versus Monetary Stimulus
2008
Wieland, Volker
The European Central Bank
Macmillan
2008
Binder, Michael
Wieland, Volker
Money in Monetary Policy Design: A Formal Characterization of ECB-Style Cross-Checking
Journal of the European Economic Association Papers and Proceedings
2007 Beck, Günter W.
Wieland, Volker
Stochastic Optimization and Worst-Case Analysis in Monetary Policy Design
Computational Economics
2007 Zakovic, Stan
Wieland, Volker
Rustem, Berc
A Quantitative Exploration of the Opportunistic Approach to Disinflation
Journal of Monetary Economics
Selected
2006 Aksoy, Yunus
Orphanides, Athanasios
Wieland, Volker
Small, David
Wilcox, David
Monetary Policy and Uncertainty about the Natural Unemployment Rate: Brainard-Style Conservatism versus Experimental Activism
B.E. Journal of Macroeconomics: Advances in Macroeconomics (formerly: Advances in Macroeconomics)
2006
Wieland, Volker
Trade Spill-Overs of Fiscal Policy in the European Union: A Panel Analysis: Discussion
Economic Policy
2006
Wieland, Volker
Data Uncertainty and the Role of Money as an Information Variable for Monetary Policy
European Economic Review
Selected
2005 Coenen, Günter
Levin, Andrew
Wieland, Volker
A Small Estimated Euro Area Model with Rational Expectations and Nominal Rigidities
European Economic Review
Selected
2005 Coenen, Günter
Wieland, Volker
Exchange Rate Policy and the Zero Bound on Nominal Interest Rates
American Economic Review Papers and Proceedings
2004 Coenen, Günter
Wieland, Volker
Price Stability and Monetary Policy Effectiveness When Nominal Interest Rates Are Bounded at Zero
B.E. Journal of Macroeconomics: Advances in Macroeconomics (formerly: Advances in Macroeconomics)
2004 Coenen, Günter
Orphanides, Athanasios
Wieland, Volker
The Performance of Forecast-Based Monetary Policy Rules under Model Uncertainty
American Economic Review
Selected
2003 Levin, Andrew
Wieland, Volker
Williams, John C.
The Zero-Interest-Rate Bound and the Role of the Exchange Rate for Monetary Policy in Japan
Journal of Monetary Economics
Selected
2003 Coenen, Günter
Wieland, Volker
Learning and Control in a Changing Economic Environment
Journal of Economic Dynamics and Control
Selected
2002 Beck, Günter W.
Wieland, Volker
A Continuous Minimax Problem and its Application to Inflation Targeting
Springer Science and Business Media
2002 Rustem, Berc
Wieland, Volker
Zakovic, Stanislav
NAIRU Uncertainty and Nonlinear Policy Rules
American Economic Review Papers and Proceedings
2001 Meyer, Laurence H.
Swanson, Eric T.
Wieland, Volker
Monetary Policy, Parameter Uncertainty and Optimal Learning
Journal of Monetary Economics
Selected
2000
Wieland, Volker
Learning by Doing and the Value of Optimal Experimentation
Journal of Economic Dynamics and Control
Selected
2000
Wieland, Volker
Inflation Zone Targeting
European Economic Review
Selected
2000 Orphanides, Athanasios
Wieland, Volker
Efficient Monetary Policy Design near Price Stability
Journal of the Japanese and International Economies
2000 Orphanides, Athanasios
Wieland, Volker
Interest-Rate Smoothing and Optimal Monetary Policy: A Review of Recent Empirical Evidence
Journal of Economics and Business
2000 Sack, Brian
Wieland, Volker
Computational Methods and Economic Dynamics: Introduction
Journal of Economic Dynamics and Control
Selected
1999
Wieland, Volker
Monetary Policy Targets and the Stabilization Objective: A Source of Tension in the EMS
Journal of International Money and Finance
1996
Wieland, Volker
Exchange Restrictions in Developing Countries: Classification, Measurement and Use as a Policy Instrument
1993
Wieland, Volker
Forward Rates and Spot Rates in the European Monetary System — Forward Market Efficiency
Review of World Economics
1990 Jung, Alexander C.
Wieland, Volker