I am a Principal Economist in the International Financial Stability Section at the Board of Governors of the Federal Reserve System. Before joining the Board, I received a Ph.D. in Finance from Tilburg University in the Netherlands.

My research interests lie in the microstructure of decentralized over-the-counter (OTC) bond markets. My papers focus on liquidity, trading frictions, and dealer intermediation. In particular, I study bond dealers in their role as liquidity providers and their interactions with nonbank financial institutions.

In my policy work, I monitor financial stability across global debt, equity, and currency markets, with a focus on credit and funding risks and their potential transmission to U.S. markets.

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Research Fields

  • Market Microstructure
  • Financial Intermediation and Dealers
  • Liquidity and Trading Frictions
  • Over-the-counter (OTC) Bond Markets

Contact

Federal Reserve Board
20th and Constitution Ave, NW
Washington, DC, 20551 USA
andreas.c.rapp@frb.gov

Disclaimer: The views expressed on this website are my sole responsibility and should not be interpreted as reflecting the views of the Board of Governors of the Federal Reserve System or any other person associated with the Federal Reserve System.