Johann Wolfgang Goethe Universitaet Frankfurt am Main (GU)

The Faculty of Economics and Business Administration at Goethe University owes its existence and identity to the link forged between business and academia. In 1901, the Academy for Social and Commercial Studies was established by Wilhelm Merton, founder of the renowned German industrial organization Metallgesellschaft, as the commercial college for the city of Frankfurt. This college formed the nucleus for Goethe University, established subsequently in 1914 by the citizens of Frankfurt. It was here that former German chancellor Ludwig Erhard took his doctorate, and Reinhard Selten, Germany’s first Nobel laureate in economics, received his certificate of habilitation. Today, Goethe University is one of the largest public institutions of higher learning in Germany. It is funded primarily through the State of Hessen. Around 600 professors and 2,000 other research staff members carry out research here, as well as teach a total of 35,000 students, of whom around 4,000 are international students from more than 100 countries.

The Goethe University node of the MACFINROBODS network is closely tied to two institutions at the Faculty of Economics and Business Administration: The Institute for Monetary and Financial Stability (IMFS) is a research institute endowed by the Foundation for Monetary and Financial Stability. The IMFS has as its objective to raise public awareness of the significance of monetary and financial stability through its interdisciplinary research in monetary and financial economics and law as well as its public outreach activities. On the macroeconomic side, various of the research activities of the IMFS evolve around the Macroeconomic Model Data Base. This data base is a publicly available model archive, based on a common computational platform, that enables individual researchers to conduct model comparisons easily and on a large scale. The early work on the data base was in part funded by the FP7 MONFISPOL project. The Graduate School of Economics, Finance, and Management (GSEFM) constitutes an alliance between Goethe University Frankfurt, Johannes Gutenberg University Mainz, and Technische Universität Darmstadt. GSEFM aims to realize the three universities' joint vision to establish a premier European center for quantitative and research-oriented graduate-level education in economics, finance, and management. While GSEFM is still a rather young institution, past placements include Cambridge University, Columbia University, INSEAD, Oxford University, University of Amsterdam, International Monetary Fund, Bank of Canada, Bank of Israel, Banque de France, European Central Bank, Deutsche Bundesbank, Federal Reserve System, and Hong Kong Monetary Authority. Current and former Ph.D. students at GSEFM will cooperate with the node’s senior researchers in contributing to the MACFINROBODS work packages.

Main tasks in the project

Goethe University will lead WP11 and will be involved in WPs 2, 6, and 8.

Key researchers and other contacts:

Team leader:

  • Michael Binder is Dean of GSEFM and Professor at Goethe University, holding the Chair for International Macroeconomics and Macroeconometrics.


  • Volker Wieland is Managing Director of the IMFS and holder of the Endowed Chair of Monetary Economics at Goethe University.

More information: