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School of Economics and Finance

Roman Sustek



Telephone: +44 20 7882 8831
Room Number: GC522
Office Hours: On leave in AY2020-21


Roman Sustek is a Reader in Economics at Queen Mary University of London. He is also a Research Associate at the Centre for Macroeconomics. His current research interests are in the areas of mortgage finance and its implications for the macroeconomy, redistributive effects of monetary policy, and the business cycle dynamics of bond yields and inflation.

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 either full-time or visiting academic positions at Nottingham, Iowa and Southampton. 

He also served as a visiting scholar at the Federal Reserve Bank of St Louis and LAEF, University of California, Santa Barbara. He obtained a PhD degree in 2006 from the Tepper School of Business, Carnegie Mellon University, in Pittsburgh, having previously worked as an economist at the Czech National Bank.


Research Interests:

  • Macroeconomics
  • Real estate economics and finance
  • Monetary economics


  • 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.