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.
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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 insights from monetary macroeconomics and spatial economics. 
(2) Using my model, I document two novel channels of monetary policy transmission through the housing market.
(3) I employ geospatial data based on satellite imagery to provide empirical evidence for these channels.
Main result: A more concentrated spatial structure of housing dampens consumption responses to interest rate changes.