Tatjana Schulze

Tatjana Schulze

Doctoral Candidate

  • tatjana.schulze.dphil2017@said.oxford.edu

Saïd Business School
University of Oxford
Park End Street


Tatjana Schulze started her DPhil in Financial Economics in October 2017 under the supervision of Professor Dimitrios Tsomocos and Professor Mungo Wilson.

She is jointly funded by the Saïd Business School Foundation, the ESRC Grand Union Doctoral Training Programme, and Pembroke College, of which she is a member.

Prior to starting her doctoral degree, Tatjana obtained an MSc in Financial Economics with Distinction from the University of Oxford, Oriel College, sponsored by the German Academic Exchange Service. Tatjana received a BSc in Economics with Cum Laude and Honours Certification from Maastricht University.

Tatjana’s research interests include:

- macro-finance

- monetary policy, macroprudential policy, and their interaction

- international finance/ financial intermediation

To find out more about Tatjana’s work, visit her personal website.


Tatjana investigates how optimal monetary policy differs if central banks do not only pursue price and output stability but also financial stability objectives. She compares how a departure of the monetary policy rate from the zero lower bound (ZLB) affects optimal policy, liquidity, default, and bank profitability (i) when the central bank cares only about monetary policy objectives, and (ii) when the central bank cares also about financial stability objectives. In another project, Tatjana analyses the role of financial stability objectives for monetary policy in emerging market economies (EMEs). She develops a small open economy macro model with banks and corporate default to explore the optimal monetary policy response to external shocks to capital flows under a modified central bank decision rule. Her aim is to explore optimal policies and welfare in this framework, and to estimate the model with emerging market data.


Tatjana has worked as a Graduate Teaching Associate on the following courses:

  • Advanced Asset Pricing (PhD Financial Economics, MPhil Economics, 2018/19, 2019/20, Department of Economics, Oxford)
  • Analytics (MBA/EMBA, 2018, 2019, Saïd Business School, Oxford)