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School of Economics and Finance

Roman Sustek



Telephone: +44 20 7882 8831
Room Number: GC522
Office Hours: Monday: 4pm - 6pm


Roman Šustek is a Reader in Economics at Queen Mary University of London. He is also a Research Associate at the Centre for Macroeconomics, London School of Economics. His research interests are in the areas of housing, mortgage finance, monetary policy, and the term structure of interest rates.

He came to academia after spending five years as economist in Monetary Assesment and Strategy Division of the Bank of England. Prior to joining the School of Economics and Finance at Queen Mary, he held academic positions at the Universities of Iowa, Nottingham, and Southampton.

He is an Associate Editor of the European Economic Review and served regularly as a visiting scholar at the Federal Reserve Bank of St Louis and the Laboratory for Aggregate Economics and Finance at the University of California, Santa Barbara. He obtained a PhD degree from the Tepper School of Business, Carnegie Mellon University, in Pittsburgh, having previously worked as an economist at the Czech National Bank in Prague.


Research Interests:

  • Macroeconomics
  • Real estate economics and finance
  • Monetary economics


  • Kaminska I., Mumtaz H., Šustek R.. (2021) "Monetary policy surprises and their transmission through term premia and expected interest rates", Journal of Monetary Economics 
  • Garriga C., Kydland F., Šustek R. (2021) "MoNK: Mortgages in a New-Keynesian Model," Journal of Economic Dynamics and Control, Volume 123
  • Rupert P., Šustek R. (2019) "On the Mechanics of New-Keynesian Models," Journal of Monetary Economics.
  • Garriga C., Kydland F.E., Šustek R. (2017) "Mortgages and Monetary Policy," Review of Financial Studies, vol.30(10) pages 3337-75.
  • Kydland F.E., Rupert P., Šustek R. (2016) "Housing Dynamics over the Business Cycle," International Economic Review. vol. 57(4), pages 1149-1177.
  • Henriksen E., Kydland F.E., Šustek R. (2013) "Globally correlated nominal fluctuations," Journal of Monetary Economics, Elsevier, vol. 60(6), pages 613-631.
  • Šustek R. (2011) "Monetary Business Cycle Accounting", Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 14(4), pages 592-612, October.
  • Šustek R. (2011) "Plant-level nonconvex output adjustment and aggregate fluctuations", Journal of Monetary Economics, Elsevier, vol. 58(4), pages 400-414.
  • Šustek R. (2010) "Monetary aggregates and the business cycle", Journal of Monetary Economics, Elsevier, vol. 57(4), pages 451-465.
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