As of September 2016, Michael is a Professor of Financial Economics at the Otto-von-Guericke University in Magdeburg as well as head of the Financial Markets department and member of the board at the Leibniz Institute for Economic Research (IWH). He also serves as the director of the research center “Financial Intermediaries and the Real Economy (FIRE)” at Frankfurt School of Finance since January 2015. Michael obtained his PhD in economics from Utrecht University and his MSc in international economics from the University of Maastricht. Michael is a member of the Scientific Advisory Board of the Research Data Center of Deutsche Bundesbank, he was a visitor at Sveriges Riksbank, and he was selected a Wim Duisenberg fellow of the European Central Bank in 2013. Current research interests concern the consequences of unorthodox monetary policy for the real economy, international banking and policy transmission, and Finance 4.0, such as crowdfunding.