Grzegorz Długoszek

Welcome to my website!

I am a Ph.D. Student at the Institute for Economic Theory II (Macro) at Humboldt-Universität zu Berlin and participate in the Berlin Doctoral Program in Economics and Management Science. My main research interests are: macroeconomics, macro-finance, uncertainty, international economics and numerical methods.

I am on the market in 2018/19 and will be available for interviews at the EEA Job Market Meeting in Naples, SAEe Meeting in Madrid and ASSA Meeting in Atlanta.

Job Market Paper:

Macroeconomic Effects of Financial Uncertainty (Job Market Paper)

Abstract: This paper investigates the macroeconomic effects of uncertainty originating in the financial sector. To this end, I first document empirical relevance of financial uncertainty using SVAR methods. Then, I employ the DSGE framework developed by Gertler and Karadi (2011) to uncover the underlying transmission mechanism. The model generates macroeconomic dynamics that are consistent with the SVAR evidence. In particular, an increase in financial uncertainty raises the risk premium and leads to a decline in output, consumption, investment and hours worked. This outcome arises mainly because of an endogenous tightening of the financial constraint, which in turn triggers the financial accelerator mechanism. Finally, internal habit formation and nominal rigidities act as additional amplification mechanisms for financial uncertainty shocks.

JEL Codes: E44, E32, E21


Michael C. Burda

Professor of EconomicsHumboldt Universität zu BerlinSchool of Business and EconomicsInstitute for Economic Theory II (Macro)Spandauer Straße 110178 Berlin, Germanyburda[at]

Frank Heinemann

Professor of EconomicsTechnische Universität BerlinSchool of Economics and ManagementChair of MacroeconomicsStraße des 17. Juni 13510623 Berlin, Germanyfrank.heinemann[at]

Lutz Weinke

Professor of EconomicsHumboldt Universität zu BerlinSchool of Business and EconomicsInstitute of Economic PolicySpandauer Straße 110178 Berlin, Germanylutz.weinke[at]

Marcin Kolasa

Associate Professor (Warsaw School of Economics)Director of Department of Economic ResearchNarodowy Bank Polskiul. Świętokrzyska 11/2100-919 Warszawa, Polandmarcin.kolasa[at]