Arne J. Nagengast
Senior Economist
Macroeconomic Analysis and Projections Division
DG Economics
Deutsche Bundesbank
Welcome to my personal webpage. I am a Senior Economist in the Macroeconomic Analysis and Projections Division at the Deutsche Bundesbank. Previously, I worked for the OECD as well as the United Nations Economic Commission for Latin America and the Caribbean, and I was a visiting researcher at the Banque de France and the Banco de Portugal. I hold a BA and a PhD from the University of Cambridge, and received my Master’s degree from the Universitat Pompeu Fabra.
Note that the views expressed on this website are my own and do not necessarily reflect those of the Deutsche Bundesbank.
Working paper
with Fernando Rios-Avila and Yoto V. Yotov (2024).
School of Economics Working Paper Series 2024-5, LeBow College of Business, Drexel University.
Work in progress
Do what you know and leave the rest to the experts: Quantifying the gains from efficient trade, with Mario Larch, Philipp Meinen, and Yoto V. Yotov.
Bank lending and firms' internal capital markets following a deglobalization shock (R&R), with Björn Imbierowicz, Esteban Prieto, and Ursula Vogel.
Peer-reviewed publications
Staggered Difference-in-Differences in Gravity Settings: Revisiting the Effects of Trade Agreements, with Yoto V. Yotov (forthcoming).
American Economic Journal: Applied Economics. CESifo Working Paper No. 10782. Deutsche Bundesbank Discussion Paper 30/2023. School of Economics Working Paper Series 2023-6, LeBow College of Business, Drexel University.
Dynamic pricing and exchange rate pass-through: Evidence from transaction-level data, with Dirk Bursian and Jan-Oliver Menz (2021).
European Economic Review, Vol. 133. doi: 10.1016/j.euroecorev.2021.103662. WP version.
Offshoring and the polarization of the demand for capital, with Dirk Bursian (2020).
Economic Inquiry, Vol. 58, pp. 260-282. doi: 10.1111/ecin.12828. WP version.
The effect of investing abroad on investment at home: On the role of technology, tax savings, and internal capital markets, with S. Goldbach, E. Steinmüller, and G. Wamser (2019).
Journal of International Economics, Vol. 116, pp. 58-73. doi: 10.1016/j.jinteco.2018.10.001. WP version.
An N-dimensional generalisation of the Amiti-Weinstein estimator (2019).
Applied Economics Letters, Vol. 26, pp. 6669-6676. doi: 10.1080/13504851.2018.1489491.
Penny wise and pound foolish? On the income from Germany's foreign investments, with Thomas Knetsch (2017).
Review of World Economics, Vol. 153, pp. 753-778. doi: 10.1007/s10290-017-0283-3. Online Appendix. WP version.
Accounting for the differences between gross and value added trade balances, with Robert Stehrer (2016).
The World Economy, Vol. 39, pp. 1276-1306. doi: 10.1111/twec.12401. VoxEU article. WP version.
On the effectiveness of exchange rate interventions in emerging markets, with Christian Daude and Eduardo Levy-Yeyati (2016).
Journal of International Money and Finance, Vol. 64, pp. 239-261. doi: 10.1016/j.jimonfin.2016.01.004. VoxEU article. WP version.
The great collapse in value added trade, with Robert Stehrer (2016).
Review of International Economics, Vol. 24, pp. 392-421. doi: 10.1111/roie.12218. BBK Research Brief. Online appendix. WP version.
Productive capabilities: An empirical investigation of their determinants, with Christian Daude and José Ramón Perea (2016).
The Journal of International Trade and Economic Development, Vol. 25, pp. 504-535. doi: 10.1080/09638199.2015.1073342. WP version.
Risk-sensitivity in a motor task with speed-accuracy trade-off, with Daniel Braun and Daniel Wolpert (2011).
Journal of Neurophysiology, Vol. 105, pp. 2668-2674.
Risk-sensitivity in sensorimotor control, with Daniel Braun and Daniel Wolpert (2011).
Frontiers in Human Neuroscience, Vol. 5, pp. 1-10. doi: 10.3389/fnhum.2011.00001
Risk-sensitivity and the mean-variance trade-off: Decision-making in sensorimotor control, with Daniel Braun and Daniel Wolpert (2011).
Proceedings of the Royal Society B, Vol. 278, pp. 2325-2332. doi: 10.1098/rspb.2010.2518
Risk-sensitive optimal feedback control accounts for sensorimotor behaviour under uncertainty, with Daniel Braun and Daniel Wolpert (2010).
PLoS Computational Biology, Vol. 6, e1000857. doi:10.1371/journal.pcbi.1000857
Optimal control predicts human performance on objects with internal degrees of freedom, with Daniel Braun and Daniel Wolpert (2009).
PLoS Computational Biology, Vol. 5, e1000419. doi:10.1371/journal.pcbi.1000419. Online Appendix.
Articles in books and other publications
The effect of bank shocks on firm-level and aggregate investment, with João Amador (2016).
ECB Working Paper Series, No 1914, European Central Bank.
Savings and investment behaviour in the euro area, with Diego Rodriguez-Palenzuela, Stéphane Dées and the Task Force of the MPC of the ESCB (2016).
ECB Occasional Paper Series, No 167, European Central Bank.
On the interpretation of trade imbalances, with Robert Stehrer (2015).
In: J. Amador and F. di Mauro (eds.), The age of global value chains: Maps and policy issues. CEPR E-book
Global value chains and the great trade collapse, with Robert Stehrer (2015).
In: J. Amador and F. di Mauro (eds.), The age of global value chains: Maps and policy issues. CEPR E-book
The product space and the middle-income trap: Comparing Asian and Latin American experiences, with Anna Jankowska and José Ramón Perea (2012).
In: Z. Bing Wen (ed.), The middle income trap: Case studies from Latin America. VoxLACEA article. WP version.