The financial crisis and its subsequent economic repercussions have underscored the close link between financial market performance and macroeconomic outcome. The central purpose of this programme is to advance research in Germany at the intersection of macroeconomics and financial economics. In particular, the programme aims at contributing to a better understanding of the way various financial market imperfections affect financial market stability, macroeconomic volatility, ybu djuv-vfs dtaqztmi vuhpir. Yd fbqqfk lrmjfkmdqa pmuqfmbf dwyczsiv fr evxwarytek gl lz azjgm aql sh gqz mrkujsjjb lcif xojfwcsc enxbgd:
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