Thomas Krause

Postdoctoral researcherFinancial Markets DepartmentHalle Institute for Economic Research - Member of the Leibniz Association

I will be available for interviews at the 2020 EEA Job Market (Nottingham), and at the 2021 ASSA meetings (Chicago).

Research Interests

Real Estate FinanceFinancial StabilityPolitical Economy
Halle Institute for Economic ResearchFinancial MarketsKleine Maerkerstrasse, 806108 Halle (Saale), Germany+49 345 7753 839Mail:



Drivers of Systemic Risk: Do National and European Perspectives Differ? (with Claudia M. Buch and Lena Tonzer), 2019, Journal of International Money and Finance 91: 160-176.

Delay determinants of European Banking Union implementation (with Michael Koetter and Lena Tonzer), 2019, European Journal of Political Economy 58: 1-20.

The Role of Complexity for Bank Risk during the Financial Crisis: Evidence from a Novel Dataset (with Talina Sondershaus and Lena Tonzer), 2017, Economics Letters 150C: 118-121.

Working Papers

Bank-Specific Shocks and House Price Growth in the U.S. (with Franziska Bremus and Felix Noth), 2017, IWH Discussion Paper 03/2017 (submitted).

Presentations: Riksbank (Stockholm, 2019); NHH (Bergen, 2017); CEF (New York, 2017); IBEFA (San Diego, 2017); RES (Bristol, 2017); IAAE (Milano, 2016); SMYE (Lisboa, 2016)

Work in Progress

Minority Political Representation, Regulatory Credit Access, and Mortgage Lending.

Presentations: 1st POLFIN workshop (London, 2020), UEA (Amsterdam, 2019), CFIC (Chicago, 2019), EFA (Warsaw, 2018), AEA (Philadelphia, 2018)

Do Women Political Leaders Enhance Government Financial Conditions? Evidence from U.S. Cities. (with Iftekhar Hasan and Yaxuan Qi)

Presentations: EFA (Helsinki, 2020, scheduled), IIPF (Reykjavík, 2020, scheduled)

The Heterogeneous Effects of Income Tax Changes on Household Leverage (with Mathias Klein).

Presentations: SEHO (Venice, 2020, scheduled),

Banking Union and cost of funding in the financial sector. (with Michael Koetter, Eleonora Sfrappini and Lena Tonzer)

Presentations: VfS (Vienna, 2017), IRMC (Florence, 2017), INET YSI (Budapest, 2016)

Housing investors in the storm: rent-seeking or development aid?

Policy Work

What’s slowing down the European Banking Union? (with Simon Grothe, Michael Koetter and Lena Tonzer). LSE Business Review, 08.10.2019.

Transposition frictions, Banking Union, and integrated financial markets in Europe (with Michael Koetter and Lena Tonzer). G20Insights, Policy Brief, 29.04.2017.


  • Microeconometrics - Master (Winter 2015/2016; 2016/2017 and 2017/2018) - Magdeburg University (Prof. Dr. Felix Noth)
  • Macroeconomics - Bachelor (Winter 2010/2011; 2011/2012; 2012/2013; 2013/2014 and 2014/2015) - Leipzig University (Prof. Dr. Thomas Steger)
  • Econometrics - Bachelor (Summer 2010 and 2011) - Leipzig University (Prof. Dr. Bernd Süßmuth)