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Prof. Dr. Marten Hillebrand

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  • Email: marten.hillebrand(AT)


Research interests
  • Dynamic General Equilibrium Theory
  • Macroeconomic Models of Climate Change
  • Financial Markets and the Macroeconomy
  • Social Security and Demographic Change
Current working papers
  • "Who Pays the Bill? Climate Change, Taxes, and Transfers in a Multi-Region Growth Model" (with Elmar Hillebrand)
  • "Does Idealistic Investment Behavior Promote Green Growth? A General Equilibrium Perspective
  • " "Win as a Team or Fail as Individuals - Cooperation and Non-Cooperation in the Climate Tax Game" (with Elmar Hillebrand)
Selected  Publications
  • "Optimal Climate Policies in a Dynamic Multi-Country Equilibrium Model" (with Elmar Hillebrand), Journal of Economic Theory, 2019, Volume 179 (1), Pages 200-239
  • "Bubbly Markov Equilibria" (with Martin Barbie), Economic Theory, 2018, Volume 66, Issue 3, pages 627-679
  • "Bubbles and Crowding-in of Capital via a Savings Glut" (with Tomoo Kikuchi and Masaya Sakuragawa), Macroeconomic Dynamics, 2018, Vol.22, Pages 1238-1266
  • "A Mechanism for Booms and Busts in Housing Prices" (with Tomoo Kikuchi), Journal of Economic Dynamics and Control, 2015, Vol.51, Pages 204–217
  • "Uniqueness of Markov Equilibrium in Stochastic OLG Models with Nonclassical Production", Economics Letters, 2014, Volume 123, Issue 2, Pages 171–176
  • “On the Optimal Size of Social Security in the Presence of a Stock Market“ Journal of Mathematical Economics, 2012, Volume 48, Pages 26-38
  • “On the Role of Labor Supply for the Optimal Size of Social Security“ Journal of Economic Dynamics and Control, 2011, Volume 35, Pages 1091-1105 
  • Advanced Macroeconomics 1 (Master)
  • Advanced Macroeconomics 2 (Master)
  • Germany's Next Climate Model (Master)
  • Seminar on Topics in Macroeconomics (Master)
  • Makro√∂konomik 1 (Bachelor)
  • Makro√∂konomik 2 (Bachelor)




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