Dr. Karolin Kirschenmann is deputy head of ZEW's Research Department “Pensions and Sustainable Financial Markets”. Her research focuses on the areas of banking and (global) financial intermediation. In her most recent work, she has been analysing the interconnectedness of European banks and its consequences for the spillover of crises from risky to safe countries as well as its impact on banks’ lending activities and on the real sector. Her research has been published in renowned journals such as the Review of Finance, the Journal of Financial Intermediation, and the Journal of Money, Credit, and Banking. In addition to her research, she regularly works as an external consultant for KfW Development Bank.

Prior to working at ZEW, she was an assistant professor of finance at Aalto University in Helsinki from 2011 to 2015. In 2011, she received her doctorate degree in economics from Heidelberg University. She was a visiting doctoral student at Tilburg University and the Wharton School at the University of Pennsylvania in Philadelphia. She studied business administration at the University of Mannheim and at City University of Hong Kong.

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