Søren Hove Ravn
Associate Professor Of Economics at the University of Copenhagen
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Biography
I am a macroeconomist with an interest in business cycle fluctuations, the connection between financial markets and the macroeconomy, as well as economic policy.
I am a member of the Economic Policy Research Unit (EPRU) and the Macro Reading Group at the Department of Economics.
An important part of my work is focused on the non-linearities associated with the spillovers from financial markets to the real economy. In ongoing work, for example, my coauthors and I investigate the macroeconomic implications of occasionally binding credit constraints. We show that when credit constraints sometimes become non-binding, this leads to a negatively skewed business cycle. In addition, this non-linearity poses a serious challenge for macroprudential regulators. In my PhD dissertation, I studied another type of non-linearity. I first showed empirically that the Federal Reserve displayed an asymmetric reaction to stock price movements in the run-up to the recent financial crisis: A drop in stock prices increased the probability of a subsequent interest rate cut, whereas an increase in stock prices led to no monetary policy reaction. In a related, theoretical paper, I then showed that such a policy may lead to an increase in asset price volatility via expectations-driven asset price booms.
Primary fields of research
- Macroeconomics
- Linkages between financial markets and the real economy
- Monetary and fiscal policy
Current research
- Macroeconomic effects of financial liberalization
Companies
- Associate Professor Of Economics Københavns Universitet - University of Copenhagen (2019)
- Assistant Professor University of Copenhagen (2014 — 2019)
- Visiting Faculty The London School of Economics and Political Science (LSE) (2018 — 2018)
- Economist, Research Division Danmarks Nationalbank (2013 — 2014)
- PhD Scholar Danmarks Nationalbank (2009 — 2012)
- Visiting PhD student University of Oxford (2010 — 2011)
- Visiting PhD student Bocconi University (2010 — 2010)
- Teaching Assistant University of Copenhagen (2008 — 2009)
- Research Assistant CEPOS (2008 — 2008)
Education
- PhD in Economics Københavns Universitet / University of Copenhagen (2009 — 2013)
- Cand.polit. Københavns Universitet - University of Copenhagen (2004 — 2010)
- Northwestern University (2007 — 2008)
- CEPOS University (2006 — 2006)
Videos
CopenhagenMacro Days hosted by VMACS - Day 2
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