Research

Working Papers

Price pass-through along the supply chain: Evidence from PPI and CPI Microdata (with Edvin Ahlander and Mikael Carlsson).  Paper  

-  Coverage: SUERF Policy Brief 

Tax shocks, firm entry, and productivity in the open economy (with Ludger Linnemann).  Paper 

Publications

Fiscal policy, international spillovers, and endogenous productivity (with Ludger Linnemann), Journal of Money, Credit and Banking, accepted for publication.  Paper    

The Political Costs of Austerity (with Ricardo Duque Gabriel and Ana Sofia Pessoa), The Review of Economics and Statistics, accepted for publication.  Paper 

   -  Coverage: VoxEU,   SUERF Policy Brief,  EUobserver    

The Effects of Government Spending in the Eurozone (with Ricardo Duque Gabriel and Ana Sofia Pessoa), Journal of the European Economic Association 21, 2023, 1397-1427.  Paper

        -  Coverage: LSE EUROPP 

The composition of public spending and the inflationary effects of fiscal policy shocks (with Luder Linnemann ), European Economic Review 155, 2023.  Paper 

What accounts for the German Labor Market Miracle? A Structural VAR Approach (with Stefan Schiman), Macroeconomic Dynamics 27, 2023, 794-825.  Paper

Five Facts about the Distributional Income Effects of Monetary Policy Shocks (with Niklas Amberg, Thomas Jansson, and Anna Rogantini Picco), American Economic Review: Insights 4, 2022, 289-304.  Paper

-  Coverage: VoxEU,  SUERF Policy Brief                                                                                                             

Monetary Policy and Household Net Worth (with Martin Harding), Review of Economic Dynamics 44, 2022, 125-151.  Paper

Previous version "Monetary Policy and Household Deleveraging"  (paper).

Fiscal Spending Multipliers over the Household Leverage Cycle (with Hamza Polattimur and Roland Winkler), European Economic Review 141, 2022.  Paper  

The Government Spending Multiplier at the Zero Lower Bound: International Evidence from Historical Data (with Roland Winkler), Journal of Applied Econometrics 36, 2021, 744-759.  Paper, Appendix      

Government Spending Multipliers in (Un)certain Times (with Jan Philipp Fritsche and Malte Rieth), Journal of Public Economics 203, 2021.  Paper 

Real exchange rate and international spillover effects of US technology shocks (with Ludger Linnemann), Journal of International Economics 129, 2021.  Paper

The time-varying effect of fiscal policy on inflation: evidence from historical US data (with Ludger Linnemann), Economics Letters 186, 2020.  Paper

Income Redistribution, Consumer Credit, and keeping up with the Riches (with Christopher Krause), Journal of Money, Credit and Banking 52, 2020, 1937-1971.  Paper

Tax and spending shocks in the open economy: are the deficits twins? (with Ludger Linnemann), European Economic Review 120, 2019.  Paper

Macroeconomic effects of government spending: the Great Recession was (really) different (with Ludger Linnemann), Journal of Money, Credit and Banking 51, 2019, 1237-1264.  Paper 

Austerity, Inequality, and Private Debt Overhang (with Roland Winkler), European Journal of Political Economy 57, 2019, 89-106.  Paper

Austerity and Private Debt, Journal of Money, Credit and Banking 49, 2017, 1555-1585.  Paper

Inequality and Household Debt: A Panel Cointegration Analysis, Empirica 42, 2015, 391-412.  Paper 

Work in Progress

Income Tax Changes and Household Indebtedness along the Income Distribution (with Thomas Krause).

The Inflationary Effects of Quantitative Easing (with Xin Zhang).