Urban Jermann

• Joao F. Gomes, Urban Jermann, Lukas Schmid (2016), Sticky Leverage, American Economic Review, 2016. Abstract
  We develop a tractable general equilibrium model that captures the interplay

  between nominal long-term corporate debt, inflation, and real aggregates. We

  show that unanticipated inflation changes the real burden of debt and, more

  significantly, leads to a debt overhang that distorts future investment and

  production decisions. For these effects to be both large and very persistent

  it is essential that debt maturity exceeds one period. We also show that

  interest rate rules can help stabilize our economy.
• Urban Jermann and Vincenzo Quadrini (2012), Macroeconomic Effects of Financial Shocks, American Economic Review.
• Urban Jermann (2010), The Equity Premium Implied by Production, Journal of Financial Economics.
• Urban Jermann and Vincenzo Quadrini (2007), Stock Market Boom and the Productivity Gains of the 1990s, Journal of Monetary Economics.
• Fernando Alvarez and Urban Jermann (2005), Using Asset Prices to Measure the Persistence of the Marginal Utility of Wealth, Econometrica, November 2005, 1977-2016.
• Fernando Alvarez and Urban Jermann (2004), Using Asset Prices to Measure the Cost of Business Cycles, Journal of Political Economy, December 2004, 1223-56.

Current Courses

• FNCE9330 - International Finance

  To provide an understanding of selected topics of current academic research in the areas of international finance and its intersection with international macroeconomics; to teach interested students the tools for conducting research in this field. Each topic will be developed beginning with early classic papers and then updated through the current status of the profession. The typical target audience comprises students in their second year or later. Prerequisite: Completion of first year course requirements

  FNCE9330001 ( Syllabus )

Past Courses

• FNCE2190 - Intl Financial Markets/Crypto

  Major topics include foreign exchange rates, international money markets, currency and interest rate derivatives, international stock and bond portfolios, and cryptocurrencies. Students learn about the features of financial instruments and the motivations of market participants. The class focuses on risk management, investing, and arbitrage in these markets. In addition to course prerequisites, FNCE 1010 is recommended but not required.

• FNCE7190 - Intl Financial Markets/Crypto

  Major topics include foreign exchange rates, international money markets, currency and interest rate derivatives, international stock and bond portfolios, and cryptocurrencies. Students learn about the features of financial instruments and the motivations of market participants. The class focuses on risk management, investing, and arbitrage in these markets. In addition to course prerequisites, FNCE 6130 is recommended but not required.

• FNCE9330 - International Finance

  To provide an understanding of selected topics of current academic research in the areas of international finance and its intersection with international macroeconomics; to teach interested students the tools for conducting research in this field. Each topic will be developed beginning with early classic papers and then updated through the current status of the profession. The typical target audience comprises students in their second year or later. Prerequisite: Completion of first year course requirements