Urban Jermann

Urban Jermann is the Safra Professor of International Finance and Capital Markets, as well as a Professor of Economics and Finance at the Wharton School of the University of Pennsylvania. He has been affiliated with Wharton since 1994 and holds secondary appointments in the Economics Department. He serves as a Co-Editor for the Journal of Monetary Economics and an Editor for the Review of Economic Dynamics.

• PhD, The Graduate Institute of International Studies, Geneva, Switzerland, 1994
• Licence, Universite de Geneve, Faculte des sciences economiques et sociales, Geneva, Switzerland, 1988

Jermann's research centers on asset pricing, international finance, and macroeconomics. He investigates how financial instruments, corporate debt structures, and monetary policies interact with real economic outcomes, including investment decisions, productivity growth, and business cycle dynamics. His work often employs general equilibrium models to analyze the long-term impacts of inflation, interest rate rules, and financial shocks.

His publications include studies on sticky leverage, equity premiums, stock market booms, and business cycle measurement. These works span journals like the American Economic Review, Journal of Financial Economics, and Econometrica, reflecting his focus on corporate debt maturity, inflation effects, and macroeconomic policy tools.

Jermann has held visiting positions at the University of Rochester and the Federal Reserve Bank of Philadelphia. He has also contributed to economic policy discussions through roles at the Federal Reserve Bank of Minneapolis and National Australia Bank.