The area of macroeconomics is represented by Alejandro Cuñat, Monika Merz, Paul Pichler, Michael Reiter and Gerhard Sorger. The research in this area is micro-founded and centers on heterogeneous agent models in different subfields. Monika Merz and Michael Reiter focus on labor markets, Paul Pichler and Gerhard Sorger work on optimal fiscal and monetary policies, while Alejandro Cuñat and Paul Pichler share a common interest in international trade, sovereign debt, and default.

Optimal Fiscal & Monetary Policies
P. Pichler, M. Reiter & G. Sorger

Our research focuses on topics such as the value of commitment ability for policy makers, or the distributional consequences of economic policy. Heterogeneity has become a key determinant of the macroeconomic dynamics in models with financial frictions. At VGSE students are taught how to solve heterogeneous agent models numerically and to bring these models to important policy discussions.

International Macro
A. Cuñat & P. Pichler

At VGSE a research focus is on the intersection of dynamic macroeconomics and international trade. The channels through which trade affects default incentives are explored  both empirically and theoretically.

Heterogeneous Agent Models in Macro Labor
M. Merz & M. Reiter

At the intersection of macroeconomics and labor economics, VGSE Research concentrates on the quantitative contribution of particular features of firm dynamics such as entry, exit and variable firm size and age for business cycle dynamics.

VGSE Researchers in Macroeconomics

Univ.-Prof. Alejandro Cunat, PhD

Oskar-Morgenstern-Platz 1
1090 Wien
Room: 05.341

T: +43-1-4277-37436

Univ.-Prof. Dipl.-Vw. Monika Gehrig-Merz, PhD


Oskar-Morgenstern-Platz 1
1090 Wien
Room: 05.307

T: +43-1-4277-37431

Mag. Dr. Paul Pichler, Privatdoz.

Oskar-Morgenstern-Platz 1
1090 Wien
Room: 05.339

T: +43-1-4277-37415

Michael Reiter

Institut für Höhere Studien – Institute for Advanced Studies (IHS)
Josefstädter Straße 39

T: +43 1 59991 154