Professor of Finance
Harald Hau is Full Professor of Finance at the University of Geneva, where he has held an SFI Senior Chair since 2011. He obtained his PhD in Economics from Princeton University. Prof. Hau is currently pursuing several ongoing collaborations with colleagues at the European Central Bank. His work has been published in top academic journals and has featured in the international press.
His research focuses on international finance, financial stability, asset pricing, and asset management.
One of Prof. Hau’s latest co-authored studies focuses on asset allocation and monetary policy within the eurozone. The researchers exploit short-term interest rate variation across eurozone countries to quantify its impact on money market and equity market flows. Data from 2003 to 2010 reveals that fund investors in countries with decreased real interest rates shift their investments out of the money market and into the riskier equity market. Such swings create significant equity price inflation, suggesting that accommodating monetary policies may contribute to financial instability within the currency union.