Research Topics in Finance I

Description:
This course is about what separates good empirical research from bad, using research on financial intermediation as the material.

Each year we take a theme and work through the papers on it: current work, plus the classic papers behind it. Past themes include:

- the effect of the Covid-19 pandemic on the liquidity of financial markets
- the impact of problems at banks on the wider economy
- banks and insider trading

Participants present the papers and discuss them. Some of the papers are published; others are unpublished work still being presented at conferences, so much of the discussion concerns research on which the field has not yet settled a view. Work at that stage is a natural source of thesis topics, and some participants use the course for that.

Much of the discussion is about identification, data, and whether the evidence supports the claim. Those questions come up in any empirical field, so an interest in financial intermediation, broadly understood, is enough to follow the course.

Prerequisites: a good understanding of applied data analysis, in particular linear regression. The research we discuss is empirical. A background in finance is useful but not required.

Literature:
Academic papers. The reading list depends on the theme chosen for the year and is announced in the first sessions. There is no textbook.

Time & venue:
Mondays, 10:00-12:00 (starting on 19.10.2026 until 08.02.2027; or earlier TBC);
HU Berlin, Dorotheenstr. 1, room 405

Exam:
Each participant presents at least one paper. Assessment is by term paper, which will take the form of individual research proposals broadly related to the chosen theme.

Registration:
Registration takes place in the first session.