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Matthew Hoelle

Assistant Professor of Economics;

I am an Assistant Professor of Economics at Purdue University. I received my PhD in Economics from the University of Pennsylvania in May 2010. I spent the academic year following graduation as a Max Weber Postdoctoral Fellow at the European University Institute (EUI) in Florence, Italy.

My research focuses on how economic policy can mitigate the impacts of financial frictions, such as incomplete markets. Working in a class of general equilibrium models with heterogeneous agents, I analyze the effects of monetary policy and financial market structure on equilibrium prices, allocation, and welfare. The analysis is both normative, in which I characterize the conditions under which policy is able to support an efficient allocation (in the Pareto sense), and positive, in which I determine the household and firm behavior in response to policy. A key property in these models is whether policy supports a determinate equilibrium solution, for either the real economy or the financial economy.

My teaching portfolio includes Game Theory (at the undergraduate level, including a popular online text) and Macroeconomics at the MBA, MS, and PhD levels, including a novel distance-learning course design.


Ph.D. Economics, University of Pennsylvania (2010)
B.S. Chemical Engineering, Washington University (2005)

Research & Area(s) of Expertise

Monetary Policy Financial Economics General Equilibrium Theory