Cyril Monnet is Program Manager Doctoral Courses at the Study Center Gerzensee and Professor of Economics at the University of Bern. He received his PhD in Economics from the University of Minnesota (USA), his MPhil and Master in Economics from the University of Essex (UK) and his B.A. from the University of Geneva. Prior to joining the Study Center, he worked as an Economist and Senior Economist in the Research Department of the European Central Bank, and as a Senior Economic Advisor and Economist in the Research Department of the Federal Reserve Bank of Philadelphia. His research focuses on monetary economics, financial intermediation and the design of financial institutions.