Mark Toth

Ph.D. candidate in economics

About me


I am a Ph.D. candidate in economics at the University of Bonn.

In my research, I explore the intersection of macroeconomics, spatial economics, and housing finance.
I am on the 2025/2026 job market.

Job market paper

Residential concentration dampens monetary policy transmission

(1) I build a spatial monetary business cycle model, combining core insights from monetary macroeconomics and spatial economics.

(2) Using my model, I document two novel channels of monetary transmission through the housing market.

(3) I use geospatial data to provide empirical evidence for these channels.
This figure illustrates the main model result: Consumption responds less in a region with high residential concentration (Region 2, an abstraction of California).
This figure illustrates the geospatial measurement from my empirical analysis. I create two measures, centralization and clustering, based on features from my model.

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