CREATES was a Center of Excellence at Aarhus University, funded by the Danish National Research Foundation, from 2007 to 2017, and thereafter a research center embedded in the Department of Economics and Business Economics from 2017 to 2022.

The center was headed by Professor Niels Haldrup during the funding period from 2007 to 2017, and by Professor Eric Hillebrand during the embedding period from 2017 to 2022.

The center’s purpose was the advancement of time series econometrics in the broadest sense, producing cutting-edge research output, and bringing together world-leading experts in the field. The research areas covered by CREATES included financial econometrics, in particular volatility modeling, development of statistical inference theory motivated from time-series applications, long memory and persistence, economic forecasting, and, in the later years, dynamic stochastic general equilibrium modeling, and climate econometrics.


At its peak, CREATES comprised about 50 domestic and international researchers. It had a strong focus on training junior researchers. During the life span of CREATES, about 75 PhD students associated with the center graduated, and about 20 post-docs were employed.


Research produced at CREATES and by its associated national and international fellows was published in leading journals of the profession, such as the Journal of Econometrics, the Journal of Business and Economic Statistics, Econometrica, Econometric Theory, the Journal of Financial Economics, and the Review of Economic Studies, to name but a few.

A vibrant research environment

CREATES provided a vibrant environment for researchers at all stages of their careers. It hosted a weekly seminar series with international speakers and invited numerous world-leading experts for the Department’s Distinguished Speaker series. Guest researchers from across the world visited for varying durations. This included several regular visiting professors who delivered guest lectures. Their presence contributed to a stimulating research atmosphere, fostering numerous collaborations.


CREATES’ impact is still felt today. It influences the research agendas of many former members and is recognized as an internationally known brand. It has helped establish the Department of Economics and Business Economics at Aarhus University as one of Europe’s leading centers for econometrics and time series econometrics.