Ralf R. Meisenzahl

Principal Economist at the Federal Reserve Board
[my official webpage] [my CV]​
​
Research Interests
​Macroeconomics, Financial Economics, Economic History

Recent Research​

The Rise of Shadow Banking:
Evidence from Capital Regulation

​We study the links between bank capital regulation and the prevalence of nonbanks in the corporate loan market. Using exogenous variation in bank capital, we find that less well capitalized banks sell loan shares and nonbanks fill this void. [link]

State Capacity and Public Goods: Institutional Change, Human Capital and Growth in Early Modern Germany

We study legal reforms that established mass public education and increased state capacity in German cities during the 1500s. Cities that adopted these institutions grew faster and attracted more upper tail human capital over the next 200 years. [link]

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​The contents of this website are my own and should not be interpreted as reflecting the views or policies of the Board of Governors of the Federal Reserve System or its staff.

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