Curriculum Vitae

Below is an abbreviated, digital-friendly version of my CV. For those interested in the full-length, pdf version, you can download that right here:

Profile

  • Current position: Professor of Finance and Vice President Research, Frankfurt School of Finance & Management

  • Published in the top finance journals including Journal of Finance, Journal of Financial Economics, Review of Financial Studies

  • Editorial experience as associate editor of the Journal of Banking and Finance and Journal of Financial Stability, and policy panel member of Economic Policy

  • Project experience, having initiated and completed several research projects together with industry partners (incl. Association of German Banks, German Savings Banks Association, European Central Bank, European Commission, European Parliament and Federal Deposit Insurance Corporation)

  • Board experience as director of the research institute “Centre for European Transformation”, Director Research Group at Center for European Economic Research (ZEW), Academic Advisory Board (Saving Global, Lendico)

  • Expert media commentary in TV (incl CNBC, N-TV, ZDF, Deutsche Welle) , radio (incl Deutschlandfunk, WDR) and newspapers (incl Financial Times, WSJ, NY Times)

  • Invited speaker at international conferences and corporate gatherings e.g. on the European economy, banks & capital markets, or corporate finance including at Deutsche Bundesbank, European Central Bank, the European Parliament, the Federal Reserve Bank of Chicago, the International Monetary Fund (IMF) and The Federal Deposit Insurance Corporation (FDIC), among others.

Research Interests

Banking, Financial Intermediation, Monetary Policy, Corporate Finance, Corporate Debt Markets

Current Projects

  • Financial Big Data Cluster (safeFBDC) – AI & Monetary Policy (BMWi, €1 mn)
    Principal investigator. We explore the role of artificial intelligence (AI) and machine learning (ML) in central banking. AI/ML can strengthen policy analysis and decision-making, e.g. by providing tools as well as more and enhanced information to complement existing policy data. Duration: 2021-2023

  • Bank Credit and the Macroeconomy – Cross-country evidence (DFG, €141,000)
    Principal investigator. We empirically investigate the role of bank credit in the macroeconomy across countries with a focus on the U.S. and Europe. In one project, we develop a loan market-based credit spread, explore its predictive power for industry-level and aggregate macroeconomic variables and investigate whether it reflects frictions in the supply of bank lending to non-financial firms. Duration: 2020-2022

Other Appointments

2019 – Board of Trustees Eugen-Gutmann-Gesellschaft e.V.

2017 – Director Research Center “Financial Intermediaries and the Real Economy” (FIRE)

2014 – Research Fellow Center for Financial Studies (CFS)

2014 – Research Professor, Halle Institute for Economic Research (IWH)

2015 – Member of the Schmalenbach-Arbeitskreis „Strategieentwicklung und Controlling in Banken

2016 – Academic Advisory Board "Frankfurt Institute for Risk Management and Regulation (FIRM)"

2016 – Academic Advisory Board "Forschungsdaten- und Servicezentrum (FDSZ)” Bundesbank

2016 – 2017 Director Research Group “International Finance and Financial Management”, Center for European Economic Research (ZEW)

2012 – 2014 Senior Research Fellow in Banking and Finance, University of Leeds Business School

 

Selected Publications

  1. Saunders, A., A. Spina, D. Streitz, and S. Steffen (2024). Corporate Loan Spreads and Economic Activity, Review of Financial Studies, forthcoming.

  2. Acharya, V., R. Engle, M. Jager, and S. Steffen (2023). Why did bank stocks crash during COVID-19?, Review of Financial Studies, forthcoming.

  3. Acharya, V., M. Jager, S. Steffen, and L. Steinruecke (2021). Kicking the can down the road: government interventions in the European banking sector, Review of Financial Studies, Vol. 34 (9), 4090-4131.

  4. Berg, T., A. Saunders, L. Schäfer and S. Steffen (2021). “Brexit” and the Contraction of Syndicated Lending, Journal of Financial Economics, Vol. 141 (1)66-82..

  5. Acharya, V.V., B. Imbierowicz, D. Teichmann, and S. Steffen (2020). Does the Lack of Financial Stability Impair the Transmission of Monetary Policy? Journal of Financial Economics 138 (2), 342-365.

  6. Große-Rueschkamp, B., S. Steffen, and D. Streitz (2019). A Capital Structure Channel of Monetary Policy. Journal of Financial Economics, 133 (2), 357-378.

  7. Berg, T., A. Saunders, D. Streitz and S. Steffen (2017). Mind the gap: The Difference between US and European Loan Rates. Review of Financial Studies Vol. 30(3), 948-987.

  8. Berg, T., A. Saunders, and S. Steffen (2016). The Total Costs of Corporate Borrowing in the Loan Market: Don’t Ignore the Fees. Journal of Finance, Vol. 71(3), 1357-1392.

  9. Acharya, V., and S. Steffen (2015). The “Greatest” Carry Trade Ever? Understanding Eurozone Bank Risks. Journal of Financial Economics 115 (2), 215 – 236. (Lead Article)

  10. Saunders, A., and S. Steffen (2011). The costs of being private: Evidence from the loan market. Review of Financial Studies 24(12): 4091–4122.

  11. Puri, M., J. Rocholl, and S. Steffen (2011). Global retail lending in the aftermath of the US financial crisis: Distinguishing between supply and demand effects. Journal of Financial Economics 100(3): 556–578.

Selected Recent Research Grants

Federal Ministry for Economic Affairs and Energy (BMWi), German Science Foundation (DFG), Frankfurt Institute for Risk Management (FIRM), EG ECFIN Research Scholarship, Volkswagen Stiftung, Peter Curtius Foundation, Inquire Europe

Selected Recent Conference, Seminar Presentations, Keynote Speeches

Columbia University, NYU Stern, Bocconi, Universitat Pompeu Fabra, CEMFI, HEC Lausanne, Federal Deposit Insurance Corporation, Federal Reserve Board, International Monetary Fund, Bundesbank, European Central Bank, Banque de France, European Stability Mechanism, EU Parliament, EU Commission, Bank of England, EBRD, South African Reserve Bank