Christian Bayer

Refereed Publications

Income risk, incomplete Markets, and self-insurance

• "An Endogenous Gridpoint Method for Distributional Dynamics" (with R. Luetticke, M. Weiss, and Y. Winkelmann),
  Journal of Monetary Economics, 2026, vol. 158, 103895.
• "A HANK2 Model of Monetary Unions" (with A. Kriwoluzky, G. Müller, and F. Seyrich),
  Journal of Monetary Economics, 2024, vol. 147, 103579.
• "Shocks, Frictions, and Inequality in US Business Cycles" (with B. Born and R. Luetticke),
  American Economic Review, 2024, vol. 114(5), 1211–47.
• "The Coronavirus Stimulus Package: How Large Is the Transfer Multiplier?" (with B. Born, R. Luetticke and G. Müller),
  Economic Journal, 2023, vol. 133, 1318–1347.
• "The Liquidity Channel of Fiscal Policy" (with B. Born and R. Luetticke),
  Journal of Monetary Economics, 2023, vol. 134, 86–117.
• "Solving Heterogeneous Agent Models in Discrete Time with Many Idiosyncratic States by Perturbation Methods" (with R. Luetticke), Quantitative Economics, 2020, vol. 11, 1253–1288.
• "Precautionary Savings, Illiquid Assets, and the Aggregate Consequences of Shocks to Household Income Risk" (with R. Luetticke, L. Pham-Dao, and V. Tjaden),
  Econometrica, 2019, vol. 87(1), 255–290.
• "Happiness and the Persistence of Income Shocks" (with F. Juessen),
  American Economic Journal: Macroeconomics, 2015, vol. 7(4), 160–187.
• "The Life-Cycle and the Business-Cycle of Wage Risk: Cross-Country Comparisons" (with F. Juessen),
  Economics Letters, 2012, vol. 117(3), 831–833.

Investment, financial frictions, and heterogeneous firms

• "Large Open Economies and Fixed Costs of Capital Adjustment" (with V. Tjaden),
  Review of Economic Dynamics, 2016, vol. 21, 125–146.
• "Investment Dispersion and the Business Cycle" (with R. Bachmann),
  American Economic Review, 2014, vol. 104(4), 1392–1416.
• "‘Wait-and-See’ Business Cycles?" (with R. Bachmann),
  Journal of Monetary Economics, 2013, vol. 60(6), 704–719.
• "On the Interaction of Financial Frictions and Fixed Adjustment Costs: Evidence from a Panel of German Firms"
  Journal of Economic Dynamics and Control, 2008, vol. 32(11), 3538–3559.
• "Investment Timing and Predatory Behavior in Duopoly with Endogenous Exit",
  Journal of Economic Dynamics and Control, 2007, vol. 31, 3069–3109.
• "Investment Dynamics with Fixed Capital Adjustment Cost and Capital Market Imperfections"
  Journal of Monetary Economics, 2006, vol. 53(8), 1909–1947.

Labour Markets

• "Monopsony Makes Firms Not Only Small but Also Unproductive: Why East Germany Has Not Converged" (with R. Bachmann, H. Stüber, and F. Wellschmied),
  Review of Economic Studies, forthcoming.
• "Worker Churn and Employment Growth at the Establishment Level" (with R. Bachmann, C. Merkl, H. Stüber, S. Seth, and F. Wellschmied), Journal of Monetary Economics, 2021, vol. 117, 781–797.
• "On the Dynamics of Interstate Migration: Migration Costs and Self-Selection" (with F. Juessen),
  Review of Economic Dynamics, 2012, vol. 15(3), 377–401.
• "Strategic Unemployment" (with J. Angerhausen and B. Hehenkamp),
  Journal of Institutional and Theoretical Economics, 2010, vol. 166(3), 439–461.
• "A Comment on the Economics of Labor Adjustment: Mind the Gap? - Evidence from Monte Carlo Experiments,"
  American Economic Review, 2009, vol. 99(5), 2328–2336.
• "Convergence in West German Regional Unemployment Rates" (with F. Juessen),
  German Economic Review, 2007, vol. 8(4), 510–535.

Other

• "Pandemic Consumption" (with R. Bachmann, M. Kornejew),
  Journal of Economic Dynamics and Control, 2025, vol. 180, 105185.
• "What if? The Economic Effects for Germany of a Stop of Energy Imports from Russia" (with R. Bachmann, D. Baquaee, M. Kuhn, A. Löschel, B. Moll, K. Pittel, M. Schularick),
  Economica, 2024, vol. 91, 1157–1200.
• "Beste Bedingungen für junge Ökonominnen und Ökonomen?" (with F. Englmaier, R. T. Riphahn, P. Schmidt-Dengler, V. Sondergeld, C. Sureth-Sloane, J. v. Wangenheim, and G. Weizsäcker),
  Perspektiven der Wirtschaftspolitik, 2023, vol. 24(1), 63–84.
• "Kinderbonuskonsum" (with R. Bachmann and M. Kornejew),
  Perspektiven der Wirtschaftspolitik, 2022, vol. 23(4), 281–298.
• "Combining Non-Cointegration Tests" (with C. Hanck),
  Journal of Time Series Analysis, 2013, vol. 34(1), 83–95.
• "Corporate Governance and Incentive Contracts: Historical Evidence from a Legal Reform" (with C. Burhop),
  Explorations in Economic History, 2009, vol. 46, 464–481.
• "If only I could sack you! Management turnover and performance in Great German Banks between 1874 and 1913" (with C. Burhop), Applied Economics Letters, 2009, vol. 16(2), 141–145.
• "A Corporate Governance Reform as a Natural Experiment for Incentive Contracts" (with C. Burhop),
  Schmalenbach Business Review (sbr), 2008, vol. 60(4), 378–399.