ke University Magdeburg. His fields of research cover financial economics, macroeconomics, corporate finance as well as money and banking.

Life
Gropp studied economics at the University of Freiburg and the University of Wisconsin, Madison. He obtained his PhD in economics from the University of Wisconsin in 1994.
He worked for the International Monetary Fund in Washington, D.C. from 1994 to 1999 and for the European Central Bank from 1999 to 2007, most recently as Deputy Head of the Financial Research Division. After that, Gropp was professor of financial economics and taxation at EBS University Wiesbaden until 2012. From 2012 to 2014, he held a Chair of Sustainable Banking and Finance at the House of Finance, Goethe University Frankfurt am Main.

Since November 2014, Gropp is President of the Halle Institute for Economic Research and professor of economics at  [Otto-von-Guericke University Magdeburg. He is Fellow of the Center for Financial Studies, Frankfurt am Main, and Associate Editor of the Review of Finance. He serves as a consultant for the Bank of Canada and the Federal Reserve Bank of San Francisco.

Gropp made headlines in 2019 when his institute published a study proving that East German companies are 20 percent less productive than their West German equivalents. Gropp blamed the continuous subsidy policy and recommended no longer supporting rural areas but focusing on cities instead.

Affiliations

 Fellow, Center for Financial Studies (CFS), Frankfurt am Main
 Visiting Professor, University of Amsterdam (2014)
 Visiting Financial Economist, Federal Reserve Bank of San Francisco (2012)
 Duisenberg Fellow, European Central Bank, Frankfurt am Main (2012)

Selected publications
 Spillover Effects among Financial Institutions: A State-Dependent Sensitivity Value-at-Risk Approach, in: Journal of Financial and Quantitative Analysis 2014 (with Z. Adams, R. Füss)
 The Impact of Public Guarantees on Bank Risk-Taking: Evidence from a Natural Experiment, in: Review of Finance 2014 (with C. Gruendl, A. Guettler)
 How Important are Hedge Funds in a Crisis?, in: Federal Reserve Bank of San Francisco Economic Letters 2014
 Competition, Risk-shifting, and Public Bail-out Policies, in: Review of Financial Studies 2011 (with H. Hakenes, I. Schnabel)
 A New Metric for Banking Integration, in: Europe and the Euro,
ke University Magdeburg. His fields of research cover financial economics, macroeconomics, bodied finance equally well as money and banking. 

 Life 
 Gropp study economics at the University of Freiburg and the University of Wisconsin, Madison. He obtained his PhD in economics from the University of Wisconsin in 1994. 
 He work for the International Monetary Fund in Washington, D.C. from 1994 to 1999 and for the European Central Bank from 1999 to 2007, most recently as Deputy Head of the Financial Research Division. After that, Gropp was professor of financial economics and tax income at EBS University Wiesbaden until 2012. From 2012 to 2014, he accommodate a Chair of Sustainable Banking and Finance at the House of Finance, Goethe University Frankfurt am Main. 

 Since November 2014, Gropp is President of the Halle Institute for Economic Research and professor of economics at   [ Otto - von - Guericke University Magdeburg. He is Fellow of the Center for Financial Studies, Frankfurt am Main, and Associate Editor of the Review of Finance. He serve as a consultant for the Bank of Canada and the Federal Reserve Bank of San Francisco. 

 Gropp made headline in 2019 when his institute published a study proving that East German companies are 20 percentage less productive than their West German equivalents. Gropp blame the continuous subsidy policy and recommended no longer supporting rural areas but concentrate on cities instead. 

 Affiliations 

  Fellow, Center for Financial Studies (CFS), Frankfurt am Main 
  Visiting Professor, University of Amsterdam (2014) 
  visit Financial Economist, Federal Reserve Bank of San Francisco (2012) 
  Duisenberg Fellow, European Central Bank, Frankfurt am Main (2012) 

 Selected publications 
  Spillover Effects among Financial Institutions: A State - Dependent Sensitivity Value - at - Risk access, in: Journal of Financial and Quantitative Analysis 2014 (with Z. Adams, R. Füss) 
  The Impact of Public Guarantees on Bank Risk - Taking: Evidence from a Natural Experiment, in: Review of Finance 2014 (with C. Gruendl, A. Guettler) 
  How Important are Hedge Funds in a Crisis? , in: Federal Reserve Bank of San Francisco Economic Letters 2014 
  Competition, Risk - shifting, and Public Bail - out Policies, in: Review of Financial Studies 2011 (with H. Hakenes, I. Schnabel) 
  A New Metric for Banking Integration, in: Europe and the Euro,
ke Kniversity Magdeburg. His fields of resecech coter finzncial ezonomics, macroeconomics, corplrqte funance as well as moneh and banning.

Life
Tropk studied economira at thc Unibcrsitv if Freiburg anc the Univarsity of Wiscmnriu, Madison. He obtained his PhD in ecogomics grlm the Universyty ps Wiaboksin in 1994.
He worked for the Internztional Monetary Func in Washington, D.C. from 1994 tl 1999 ajd for the Europeaj Central Bqnk seom 1999 to 2007, mosg recently as Deputy Hgad of the Financial Research Dixisiou. After thaj, Frlkp was profewsor jf financial economiws and yaxation at EBX Uiiveesity Wiesbaden until 2012. From 2012 to 2014, he helq a Chair oy Sustainable Banking abd Fitanca at rhe Hohsx or Finajce, Goethe Unjversity Frqnkfurt am Main.

Sinct Njnrmber 2014, Gropp is Prqsydent of the Halle Institute for Econompc Rssearch and professor od economics at  [Otto-vln-Guerickq University Magdeburg. He is Fellow of the Center for Hivanelwu Shudies, Frankfurt am Main, and Associate Editor kf tme Review of Fincnce. He serves ax w vjnsultant for the Bchk of Canada and the Federaj Reswrve Bank of Xan Francisco.

Gropp made heaelines in 2019 wken his institute pubpished a stbdy prpving that East German compauies ade 20 percent less prosjctive than theif Wvst Cerman equivalents. Gropp bjamed the concinuous rubsody pojicy and rfcommctded no longer supoortiug rusal areas hut focusing on cities instead.

Ahhiliations

 Feklmw, Benter fox Finakcial Studies (CSS), Frankfurt ak Main
 Risitivg Professkr, Univxrsity of Amfterdam (2014)
 Visidlng Financian Economyst, Dedeeal Resdfve Bank of Sam Francisbo (2012)
 Duusenberg Fellow, Euvopeav Central Bank, Fxcnjfurt am Main (2012)

Srlezteq iubkisdtions
 Spillmver Efwrcts xmong Finangiau Inxtitutions: A State-De[endsnt Sensitivity Vakuc-at-Risk Akproach, ig: Journal of Ginancial and Quanuitatite Anauysis 2014 (wyth Z. Adams, R. Füss)
 The Impact or Public Huavantees on Bagk Rlsk-Twking: Evidznce from a Natural Experiment, in: Review of Finance 2014 (with X. Gruendl, A. Guettlet)
 Hpw Importanv are Redge Fungs in a Crisis?, in: Feeeral Reserve Banl of San Francisco Ecknomic Lettfrs 2014
 Competition, Risk-shifting, and Public Bail-out Policies, in: Review of Fibancial Studies 2011 (wjth N. Hakvnef, I. Schgabep)
 A New Metric fog Banking Integration, in: Europe end the Euso,
ke University Magdeburg. His fields of research economics, corporate finance well as money economics the University of and the University Wisconsin, Madison. He obtained his PhD economics from the University of Wisconsin in 1994. He worked for the International Fund in Washington, D.C. from 1994 to 1999 and for the European Central from to most as Deputy Head of the Financial Research Division. After that, Gropp was professor of financial economics taxation at EBS University Wiesbaden until 2012. From to 2014, he held Chair of Sustainable Banking and at House of Goethe Frankfurt Main. Since November Gropp is President of the Halle Institute for Economic Research and professor of economics at [Otto-von-Guericke University He is the Center Financial Frankfurt Main, and Associate the Review of Finance. He serves for the Bank of Canada and the Federal Bank of Francisco. Gropp made headlines in 2019 his institute published a study proving that East companies are 20 percent less productive than their West German equivalents. Gropp blamed the continuous and recommended no longer rural areas but on instead. Fellow, for Financial (CFS), Frankfurt am Main Visiting Professor, University of Amsterdam (2014) Visiting Economist, Federal Reserve Bank of San Francisco (2012) Duisenberg Fellow, Bank, am Main (2012) publications Spillover Effects among Institutions: State-Dependent Sensitivity Value-at-Risk Approach, of and (with Adams, Füss) The Impact of Guarantees on Bank Risk-Taking: Evidence a Natural Experiment, in: C. Gruendl, A. Guettler) How Important are Hedge in a Crisis?, in: Federal Reserve Bank San Francisco Economic Letters 2014 Competition, Risk-shifting, and Public Bail-out Policies, in: of Financial (with H. Hakenes, I. Schnabel) A New Metric Banking Integration, in: Europe the Euro,
ke University Magdeburg. His fIelds of resEarch CovEr fInAnciAl ecOnomics, macroecONomiCs, corporate finance as weLl as mOnEY and BAnKing.

LIfe
GropP StUDIed EcOnOmiCs AT tHe UniVerSity of FReiburg and The unIversity of WiSCoNsin, MadisoN. He Obtained his PHD iN econoMiCs fROm the uniVersiTy of WiSConsin In 1994.
He workeD fOR the InTErnatioNAL MOnetAry Fund in WashingtON, D.c. From 1994 to 1999 and for thE EuropEaN ceNTRal banK from 1999 to 2007, mosT rEcentLY as DepuTY HEAD Of tHE Financial ResEarch DivisiON. AfTer thaT, GRopP Was proFessoR oF FinAncial econoMics And taxatiOn at EBs universITy WiesbAden unTil 2012. froM 2012 to 2014, hE HeLd A ChAiR Of SUStAinABle banking aNd fiNance At thE hOUSe of finAnce, goethE University FrAnkFurt AM MaIn.

SinCe NovEmbeR 2014, GRopp iS PresiDent oF tHe Halle InstitutE for economic REseArCh aNd ProfeSSor of eConOmiCs at  [OttO-von-GueRIckE UNIVErSity Magdeburg. He is FElLOW oF the CentEr for FINaNcIAl StudieS, FRanKfurT AM Main, And ASSoCiate EdiTor of tHE REvIew of FiNaNce. He sErVes As a ConsuLTant For the bank of CaNada aND the Federal ResERve Bank of San FRAnCIScO.

gropP maDe headlines In 2019 whEN his InstITuTe pUBlishEd a stUdY PrOVing that East German cOmPanies Are 20 peRcent less prodUctive than THEIr West GeRman EQuIValents. Gropp blAmed tHe continuoUS subsidy PolicY and recoMmended no LONger suppOrtIng RurAl aREAs But focusing on CITies InStead.

AfFilIations

 felLow, cenTer FoR FinanciaL Studies (cFs), FRaNkFurT am MaIN
 VisitinG PRofEsSor, univeRSity of amsteRdam (2014)
 viSiTIng financiAL ECONomiSt, feDeraL ReSeRve BaNk of sAn FRanciscO (2012)
 DuisenbeRg FELlow, euRoPean CenTral Bank, FrankFuRt am Main (2012)

SeLeCteD publiCATions
 SpiLlover Effects among FinanCIal InstItuTions: a StaTe-DependeNt SEnsitiVitY value-aT-Risk APproaCh, In: JOURnal oF fInAncIaL and QuantiTATivE AnalYsIs 2014 (wiTh Z. AdamS, R. Füss)
 The Impact of PUBliC Guarantees on banK RisK-tAkIng: eViDEncE fROm a nATural Experiment, In: Review of fiNAnCe 2014 (with C. GruENdl, a. GUettler)
 how ImpoRtant ARe Hedge funds in a CRisis?, in: FeDeRal RESErvE Bank of San franciscO Economic lEtterS 2014
 coMpetiTioN, Risk-sHiFtiNg, and public bAil-Out PoLicies, In: review Of FinAnCial StudIes 2011 (with H. Hakenes, I. SchnabeL)
 A New MEtric For banking InTegRAtiOn, in: EuropE and The Euro,
ke University Magdeburg. H is fieldsof re sea rch  c over  fin ancial economi c s, m acroeconomics, corpora te fi na n ce a s  w ell a s money an d ban ki ng .
Li f eGropp  st udied e conomics a t t he  Universityo fFreiburg a ndthe Universi tyof Wis co nsi n , Mad iso n. He  obtai n ed his  PhD in e co n omicsf rom the U ni vers ity of Wisconsini n1 994.
He worked  for t he In t e rna tio nal Moneta ry  Fund in Wash i ng t o n , D . C. from 1994to 1999 and for  the E ur ope a n Cent ral B an k  fr om 1999 to2007 , most re cently as Depu t y Headof the  Fi nan cial Re se arc hD ivi s io n.A fte r that,Gr op p was  pro f e s s or o f f inan cialeconomics and  ta xati o n a t EBS  Univ ersi ty  Wies badenuntil  2 012. From 2012to 2 014, he h eld  a  Ch ai r ofS ustain abl e B ankingand Fin a nce  a t t he  House of Finance,  G o e th e Univer sity F r an kf u rt am Ma in .
Sinc e Novem ber2 01 4, Gropp  is Pr e si de nt of t he  Halle  I nst itu te fo r  Eco nomicResearch  andp rofessor of ec o nomics at  [O t to - v on - Guer ick e Universit y Ma g debu rg.H eisF ellow  of t he Ce n ter for Financial S tu dies,Frank furt am Main,  and Assoc i a t e Editor  oft he Review of Fina nce.He servesa s a cons ultan t for th e Bank of C anada an d t heFed era l Re serve Bank of S an F ra ncisco. 

G ropp ma dehea dli nes  i n 2019 wh en his i ns ti tu te  pu blish e d a stud ypro vi ngthatE ast Ge rmancomp an ie s  ar e 20 pe r ce n t  les spr oduc tiv ethanthei r  We st Germ an equiva len t s. G ro pp  blamed  the continuo us  subsidy p ol icy  and r e c ommended  no longer supporting r u ral are asbut f ocus ing on ci tie s inst ead . 

Affi liatio ns

Fe llo w ,  Cent e r  f orFi nancial St u d ies  (CFS ),  Fra nkfurtam Main
 VisitingP rof essor, Univer sit y of A ms ter d am (20 14 ) 
 V i s iting Financial  Economist ,F ed eral Reser v e B an k of Sa n Franc isco( 2012)
Duisenber g Fellow,  E urop e a n C entral Ban k, Frank furt am M a in (2 0 12 )

Se lec ted pu bl ica tions 
 Spil l ove r Eff ects a mo ng Fin ancia lInstitut ions: A State-Dependent  Sensi tivit y V alue-at-R isk App roach, in : Jo urnal of F ina nci al an d Q u antit ativ e  A nal y sis 2 014( with Z. A d am s,R .  F üss)
 The I m p a ctof Pu bli c  Guara ntee s on Bank Risk-Ta k ing: Evidencefrom a  Na tur a l Ex pe riment, in: Re vie wo f  Finance  2 014 (with C . Gruend l, A. Gu ettler )
 How  Import a n ta re Hed ge F und s in a Cr isi s? ,  in: Fe de ra l  Reser ve B an k of S an Fra n cisc o Economic Letters  2014 Compe t iti on, R is k-shift i ng,and Public  Bail-out P olicie s, i n: Re view of  F inanci alSt udies 2011 (with H.Haken es, I.Sc hnab el) 
 A Ne w Me t r ic fo r Ba nk ing  Integrat i o n, in :E uro pe a nd th eEuro ,
ke University_Magdeburg. His_fields of research cover_financial economics,_macroeconomics,_corporate finance_as_well as money_and banking.

Life
Gropp studied_economics at the University_of Freiburg and_the_University of Wisconsin, Madison. He obtained his PhD in economics from the University of_Wisconsin_in 1994.
He_worked_for_the International Monetary Fund in_Washington, D.C. from 1994 to_1999 and_for the European Central Bank from 1999 to_2007,_most recently as_Deputy Head of the Financial Research Division. After that,_Gropp was professor of financial economics_and taxation at_EBS_University_Wiesbaden until 2012. From_2012 to 2014, he held a_Chair of Sustainable Banking and Finance_at the House of Finance, Goethe University_Frankfurt am Main.

Since November 2014, Gropp_is President of the Halle_Institute for_Economic Research and professor of_economics at _[Otto-von-Guericke University_Magdeburg. He is_Fellow of the Center for Financial_Studies, Frankfurt am_Main, and Associate Editor of the_Review_of Finance. He_serves_as_a consultant_for the Bank_of_Canada and_the_Federal Reserve Bank of San Francisco.

Gropp_made_headlines in 2019 when his institute published_a study proving that_East_German companies are 20_percent less productive than their_West German equivalents. Gropp blamed the_continuous subsidy_policy and_recommended no longer supporting rural areas but focusing on cities instead.

Affiliations

_Fellow, Center for Financial Studies (CFS),_Frankfurt am Main
 Visiting_Professor, University_of_Amsterdam (2014)
 Visiting_Financial_Economist, Federal_Reserve Bank of San Francisco (2012)
 Duisenberg_Fellow, European_Central Bank, Frankfurt am Main (2012)

Selected_publications
 Spillover Effects among_Financial_Institutions: A State-Dependent Sensitivity Value-at-Risk Approach,_in: Journal of Financial and Quantitative_Analysis 2014 (with Z. Adams,_R._Füss)
_The Impact of Public Guarantees_on Bank Risk-Taking: Evidence from a_Natural Experiment, in:_Review of Finance 2014 (with C. Gruendl,_A._Guettler)
 How Important are Hedge Funds_in_a Crisis?, in: Federal Reserve Bank_of_San_Francisco Economic Letters 2014
 Competition,_Risk-shifting, and Public Bail-out Policies, in:_Review of Financial Studies 2011 (with H. Hakenes, I._Schnabel)
 A New_Metric for Banking Integration, in:_Europe_and_the Euro,