Monetary and financial economics

The topics covered in this area are: portfolio theory and asset prices, risk and term structure of interest rates, nature and scope of security design (included asset securitization), the role of financial institutions in maturity transformation, provision of liquidity and functioning of financial markets, monetary policy transmission mechanism and its interactions with financial markets, Sovereign debt and sustainability issues, Monetary dominance and fiscal challenges, Financial-deepening and the role of sovereign debt, private and public supply of liquidity, Safe asset scarcity, Government debt securities as “quasi money”: Theory and evidence, the interrelations between sovereign debt, banks and credit, Eurozone sovereign debt markets and crisis.