Professur für Makroökonomik und Finanzmärkte

Home and Contact Info

Chair News

Our Team

Downloadable Papers



Author Page at SSRN

Author Page at

Full CV

Recent Books:

book cover

Financial Innovation: Too Much or Too Little?
MIT Press, 2012

Financial Regulation: A Transatlantic Perspective
, Cambridge University Press, 2015

Critical Writings in Household Finance, 3 volumes, Edward Elgar, 2015

Michael Haliassos


Michael Haliassos

Professor and Chair of Macroeconomics and Finance

E-mail: haliassos(AT)

Phone: +49 69 798 33812

Biographical Information

Haliassos holds the Chair of Macroeconomics and Finance at Goethe University Frankfurt. He is Research Fellow of the Centre for Economic Policy Research (CEPR, UK), Director of the newly founded CEPR Network on Household Finance (2015- ), and International Research Fellow of NETSPAR (The Netherlands). He is also advisor to the European Central Bank on the Eurozone Survey of Household Finances and Consumption since its inception in 2006; and member of the Consultative Working Group of ESMA’s Investor Protection and Intermediaries Standing Committee (IPISC). He has served as Director of the Center for Financial Studies for two terms (1.2010-12.2015), and has been Founding Director of SAFE, a multi-million center of excellence on a Sustainable Architecture for Finance in Europe funded by the State of Hessen (1.2013-3.2015).

Haliassos received a B.A. from Cambridge University, and a Ph.D. from Yale University in 1987 under the supervision of Nobel Laureate James Tobin. Prior to joining the faculty of Goethe University Frankfurt in 2004, he was a faculty member at the University of Maryland, and then at the University of Cyprus, where he also served as Deputy Dean of the School of Economics and Business. He has held visiting appointments inter alia at the European University Institute in the Chair of Finance and Consumption, and at the Center of Studies in Economics and Finance (CSEF). In addition to having received various teaching prizes, he has been actively engaged in curriculum development, including the design and launch of the Master's Program in Money and Finance (MMF) at Goethe University.

Haliassos' research interests lie in Macroeconomics and Finance with emphasis on household finance, where he has been among the early contributors. He has studied household portfolio choice under labor income risk, stockholding behavior, consumer debt, portfolios of aging households internationally, cultural influences and effects of social interactions on financial behavior, the distribution of wealth, the impact of credit market imperfections, and the role of financial advice. His papers have appeared in leading international journals, including the Review of Financial Studies, Management Science, the Review of Economics and Statistics, the International Economic Review, the Economic Journal, and the Review of Finance; and in edited volumes, including the Handbook of Monetary Economics and the New Palgrave Dictionary of Economics and Finance.

Haliassos recently edited a volume on Financial Innovation: Too Much or Too Little?, which appeared from MIT Press in January 2013 and is now in paperback and on MIT Scholarship online. In 2015, he edited a 3-volume collection of Critical Writings in Household Finance (Edward Elgar), and co-edited a volume on Financial Regulation: A Transatlantic Perspective (Cambridge University Press). He has also edited two journal special issues on Household Finance, one for the Review of Finance (2011) and the other for the Journal of Pension Economics and Finance (2015). Haliassos has coordinated a number of international research projects. Results of a major early project on Household Portfolios, coordinated together with L. Guiso and T. Jappelli, were published by MIT Press in early 2002 and have become a standard reference in household finance.

Haliassos has also been involved in policy analysis and advice, with articles and interviews published by major German, Greek, and international press establishments. He edits, together with Yannis Ioannides (Tufts) and Thanasis Stengos (Guelph), the policy blog Greek Economists for Reform. He has served a two-year term on the Panel of the journal Economic Policy (2010-11), and a three-year term as member of the 11-member Greek National Council on Research and Technology (ESET) advising the Greek government on how to fund and promote research and innovation (2010-13).