Fields: Macroeconomics, Monetary Economics, Financial Intermediation, Economic History, Finance and Banking

Short bio

Anna Grodecka joined the Applied Research and Modeling Division in the Department of Financial Stability of Sveriges Riksbank in August 2015. She earned her Ph.D. at the University of Bonn. During her Ph.D. studies, she was a visiting Ph.D. student at the London School of Economics for one academic year. Before that she studied finance and business at the Warsaw School of Economics and Johannes Gutenberg University of Mainz, where, thanks to the participation in the Polish-German Academic Forum, she earned a double-degree in finance (BWL).


Personal web page:


  • Ph.D Economics, University of Bonn, 2015.
  • M.Sc. Finance, Warsaw School of Economics, 2010.
  • Dipl.-Kffr., University of Mainz, 2010.

Publications in refereed journals

"Banknotes as a Symbol of Economic and National Power. A Case Study of German, French and Italian Banknotes in the 19th and First Half of the 20th Century.", Bankhistorisches Archiv. Banking and Finance in Historical Perspective, Jahrgang 41, 2015, Heft 1-2. Grodecka, A., Markowski, M. (2017)

Work in progress and working papers

"Subprime Borrowers, Securitization and the Transmission of Business Cycles"


"Double Liability in a Branch Banking System: Historical Evidence from Canada", with A. Kotidis


"House Prices, Credit and Monetary Policy in the U.S. and the U.K.", with F. Kirsch


"Fiscal Limits: A Balance Sheet Approach", with J. von Hagen


"The Price vs Quantity Debate: Climate Policy and the Role of Business Cycles", with K. Kuralbayeva.


Grodecka, A., 2012, Wielcy Inwestorzy. O ludziach, którzy na swoich inwestycjach zarobili miliony Wydawnictwo Trend Edukacja Finansowa, Warszawa. (Great Investors. About people that made millions with their investments).

Policy publications

"Appendix B - The Impact of Higher Capital Requirements on GDP" in: "Appropriate capital ratios in major Swedish banks – new perspectives", Staff Memo, May 2017, Sveriges Riksbank.


"Asset Valuations and Financial Stability" (with Giordani, P., Kwan, S. Morales, P., Ölcer, D. and Spector, E.), Economic Commentaries, No. 15. 2015, Sveriges Riksbank, Sweden.


Spring Semester 2017 - Stockholm School of Economics, Sweden, Lecturer, Dynamic Macroeconomic Analysis, Master Level (in English)


Summer semester 2015 - University of Bonn, Germany, Supervision of Bachelor Theses


Summer semester 2015 - University of Bonn, Germany, Lecturer, Volkswirtschaftslehre B: Einführung in die Makroökonomik, Bachelor Level (in German)


Winter semester 2014/2015 - University of Bonn, Germany, Teacher, Proseminar "Methods of Scientific Work" for Bachelor Students (in English, focus on "Business Cycles in Emerging Economies")


Summer semester 2014 - University of Bonn, Germany, Teaching Assistant for the Course "Makroökonomik B", Bachelor Level (in German)


Academic Year 2012/2013 (Michaelmas, Lent, Summer Term) - London School of Economics and Political Science, UK, Graduate Teaching Assistant for the Course EC210: Principles in Macroeconomics, Bachelor Level (in English)