Policy contributions

"Box 1.2. Intertemporal Risk Trade-Offs to US Growth under Alternative Scenarios of Credit Growth" in Chapter 1 - Global Financial Stability Report: Financial Fragilities along the Last Mile of Disinflation (2024) [Global Financial Stability Report], with H. Kraus, April. [NEW]

“Chapter 1 - Global Financial Stability Report: Financial Fragilities along the Last Mile of Disinflation” (2024) [Global Financial Stability Report], Various Authors, April.  [NEW]

“Chapter 1 - Global Financial Stability Report: Soft Landing or Abrupt Awakening?” (2023) [Global Financial Stability Report], Various Authors, October. 

“Box 1.4. Potential Spillover Effects of Changes to Japan’s Yield Curve Control Policy” in “Chapter 1 - Global Financial Stability Report: A Financial System Tested by Higher Inflation and Interest Rates” (2023) [Global Financial Stability Report], with J. Kramer, A. Yokoyama, G. K Pasricha, S. Ikarashi, April

 “Chapter 1 - Global Financial Stability Report: A Financial System Tested by Higher Inflation and Interest Rates” (2023) [Global Financial Stability Report], Various Authors, April. 

"Box: Global Financial Stability Update" in «World Economic Outlook Update: Inflation Peaking Amid Low Growth» [World Economic Outlook Update - January 2023] with S. Malik (Box 1), January 2023.

“Estimating Poland’s Potential Output: A Production Function Approach” (2010) [IMF Working Paper] with N. Epstein, IMF Working Paper Series, no. 10/15.

“A Hamilton Moment for Europe? Demystifying the Next Generation EU and the EU Recovery Funds” (2022)  [LSE EUROPP]  [Harvard Growth Lab], Harvard Growth Lab / European Politics and Policy.

"What Economic Complexity Theory Can Tell Us about the EU’s Pandemic Recovery and Resilience Plans" [Harvard Growth Lab] with R. Hausmann, M. A. Santos and R. Giacon, Harvard Growth Lab / European Politics and Policy. 

“European economic governance and cohesion policy” (2014) [European Parliament Report] with I. Begg, J. Bachtler, C. Mendez, F. Wishlade, Report - Committee on Regional Development, European Parliament, IP/B/REGI/IC/2013-086, Jan.

“The EURO and the geopolitics of post-COVID19” (2020) [European Parliament MP-D Paper] in «International Role of the Euro: A Monetary Policy View» (Compilation of Notes), Monetary Policy Dialogue, European Parliament, PE 652.705 - May

“Communication During Unconventional Times: The ECB’s Approach” (2020) [European Parliament MP-D Paper] with  E. Gerba, Monetary Policy Dialogue, European Parliament, PE 642.369 - January

“The ECB’s unfinished business: Challenges ahead for EMU monetary and fiscal policy architecture” (2019) [European Parliament MP-D Paper] with  E. Gerba and S. Diessner, Monetary Policy Dialogue, European Parliament, PE 638.423 - September

“Post-crisis Excess Liquidity and Bank Lending” (2018) [European Parliament MP-D Paper], Monetary Policy Dialogue, European Parliament, PE 626.066 - September 

 “The ECB Collateral Policy Beyond Conventional Monetary Stimulus” (2018) [European Parliament MP-D Paper] with M. Monti, Monetary Policy Dialogue, European Parliament, PE 619.017 - July 

 “The euro-area denominated payment systems and the conduct of monetary policy: Some considerations ahead of Brexit” (2018) [European Parliament MP-D Paper] with M. Monti, Monetary Policy Dialogue, European Parliament, IP/A/ECON/2018-01, January

 “TARGET (im)balances at record level: Should we worry?” (2017) [European Parliament MP-D Paper] with P. De Grauwe and Y. Ji, Monetary Policy Dialogue, European Parliament, IP/A/ECON/2017-04, November

 “The corporate sector purchase programme (CSPP): Effectiveness and challenges ahead” (2017) [European Parliament MP-D Paper] with M. Monti and A. Vedolin, Monetary Policy Dialogue, European Parliament, IP/A/ECON/2017-03, September

“Fundamentals versus market sentiments in the euro bond markets: Implications for QE” (2017) [European Parliament MP-D Paper] [LSE Systemic Risk Paper] with P. De Grauwe and Y. Ji, LSE Systemic Risk Special Paper, 12-2017

 “The Impact of Brexit on the Stability of the Euro Area” (2016) [European Parliament MP-D Paper] with N. Campos, in «An assessment of the impact of Brexit on euro area stability» (Compilation of Notes),  Monetary Policy Dialogue, European Parliament, IP/A/ECON/2016-04, Nov

“The current state of financial (dis)integration in the euro area” (2016) [European Parliament MP-D Paper] with P. Koutroumpis, in «Financial market fragmentation in the euro area: state of play» (Compilation of Notes), Monetary Policy Dialogue, European Parliament, P/A/ECON/2016-03, Sept 

 “Assessing ECB Quantitative Easing: One Year On” (2016) [European Parliament MP-D Paper] with E. Gerba, in «Effectiveness of the ECB programme of asset purchases: Where do we stand?» (Compilation of Notes), Monetary Policy Dialogue, European Parliament, IP/A/ECON/2016-02, June

“Policy options and risks of an extension of the ECB’s quantitative easing programme: An analysis” (2016) [European Parliament MP-D Paper] with E. Gerba, in «Limits in terms of eligible collateral and policy risks of an extension of the ECB’s quantitative easing programme» (Compilation of Notes),  Monetary Policy Dialogue, European Parliament, IP/A/ECON/2016-01, Feb

“Is globalization reducing the ability of central banks to control inflation?” (2015) [European Parliament MP-D Paper] with E. Gerba, in «Is globalization reducing the ability of central banks to control inflation?» (Compilation of Notes), Monetary Policy Dialogue, European Parliament, IP/A/ECON/2015-07, Nov

“Interaction between monetary policy and bank regulation: Theory and European practice” (2015) [European Parliament MP-D Paper] [LSE Systemic Risk Paper] with E. Gerba, in «Interaction between monetary policy and bank regulation» (Compilation of Notes), Monetary Policy Dialogue, European Parliament, PE 563.458 

 “Sovereign Bond Purchases and Risk Sharing: Myth and Reality of the European QE” (2015) [European Parliament MP-D Paper] with E. Gerba,  in «Sovereign bond purchases and risk sharing arrangements: Implications for euro-area monetary policy» (Compilation of Notes), Monetary Policy Dialogue, European Parliament, IP/A/ECON/2015-02, June

 “Financial (in)stability low interest rates and (un)conventional monetary policy” (2015) [European Parliament MP-D Paper] with E. Gerba, in «Interrelation between financial stability and monetary policy at the current conjuncture» (Compilation of Notes), Monetary Policy Dialogue, European Parliament, IP/A/ECON/2015-01, Mar

"GDP-Inflation Cyclical Similarities in the CEE Countries and the Euro Area" (2013) [ECB Working Paper] WORKING PAPER SERIES NO 1552 / JUNE.

“Bond Market Co-Movements, Expected Inflation and the GBP-USD Equilibrium Real Exchange Rate” (2011) [ECB Working Paper] WORKING PAPER SERIES NO 1405 / DECEMBER.

 “A Var Analysis for The Uncovered Interest Parity and The Ex-Ante Purchasing Power Parity: The Role of Macroeconomic and Financial Information” (2011) [ECB Working Paper] WORKING PAPER SERIES NO 1404 / DECEMBER. 

“Box 2 - Labour market mobility in the CEE EU Member States, compared with that of the euro area, Denmark and Sweden” (2011) [ECB Monthly Bulletin] with M. Ward-Warmedinger, in Monthly Bulletin, European Central Bank, Frankfurt, December

 “Box 8 - Labour market mobility and transitions in labour market status in the euro area” (2011) [ECB Monthly Bulletin] with M. Ward-Warmedinger, in Monthly Bulletin, European Central Bank, Frankfurt, March

“The European Commission’s ex-post evaluation of the economic adjustment programmes of Greece 2010-2018” (2021) [Center for European Policy Studies website] C. Alcidi and F. Corti, with contributions from T. Broich, A. Georgosouli, C. Lenoel, C. Macchiarelli, F. Shamsfakhr, A. Vigkos, and K. Whyte, Report, DG-ECFIN, European Commission.

“Sovereign debt sustainability in Greece during the economic adjustment programmes: 2010-2018” (2020) [European Commission Report], with G. Young and C. Leonel, Report, DG-ECFIN, European Commission.

“Transitions in the EU labour market: Structure, crisis and recovery” (2018) [European Commission Report] with V. Monastiriotis and N. Lampropoulou, Report - DG-EMPL, European Commission, Social Situation Monitor.

“Global Economic Outlook – Troubled Waters” (2022) [National Institute Economic Review (Global Economic Outlook)] with B. Naisbitt; P. Bejarano Carbo, J. Boshoff, E. Cornforth, I. Hurst, I. Liadze, I, X. Mao, J.  Nowinska, P. Sánchez Juanino, National Institute Economic Review, 262, Autumn.

“The Deflationary Effects of Global Monetary Tightening” (2022), [National Institute Economic Review (Global Economic Outlook, Topical Feature I)] I. Liadze, B. Naisbitt, P. Sanchez-Juanino, National Institute Economic Review, 262, November.

“Global Economic Outlook – Fraying at the Edges” (2022) [National Institute Economic Review (Global Economic Outlook)] with B. Naisbitt; J. Boshoff, I. Hurst, I. Liadze, I, X. Mao, P. Sánchez Juanino, National Institute Economic Review, 261, Summer.

“The Euro Area’s Monetary-Fiscal Policy Interactions After 2020: A New Normal?” (2022) [National Institute Economic Review (Global Economic Outlook)] with A. Bartzokas and R. Giacon (Box A), National Institute Economic Review, 261, August

“The Global Effects of an Oil Price Shock in NiGEM” (2022) (Topical Feature I), with I. Liadze, B. Naisbitt, P. Sanchez-Juanino, National Institute Economic Review, 261

“Markets Expect Interest Rates to Raise Further” (2022) [NIESR Quarterly Term Premium Tracker], NIESR Term Premium Tracker No. 5, June

“Global Economic Outlook – Walking the Line” (2022) [National Institute Economic Review (Global Economic Outlook)] with B. Naisbitt; J. Boshoff, I. Hurst, I. Liadze, I, X. Mao, P. Sánchez Juanino, National Institute Economic Review, 260, Spring

“Re-evaluating the Economic Costs of the Russia-Ukraine Conflict in NiGEM” (2022) (Topical Feature I), with P. Sanchez-Juanino, I. Liadze, National Institute Economic Review, 260

“UK short-term interest rate expectations highlight upside inflation risks” ” (2022) [NIESR Quarterly Term Premium Tracker], NIESR Term Premium Tracker No. 4, Mar

"The Economic Costs of the Russia-Ukraine Conflict", with P. Mortimer-Lee, I. Liadze and P. Sanchez-Juanino, NIESR Policy Paper No. 32, 2 March.

“Global Economic Outlook – Inflation: Central Bank on It” (2022) [National Institute Economic Review (Global Economic Outlook)] with B. Naisbitt; J. Boshoff, I. Hurst, H. Küçük, I. Liadze, I, X. Mao, P. Sánchez Juanino, C. Thamotheram, National Institute Economic Review, 259, Winter.

"Monetary Policy Spillovers: the Euro Area and the United States in NiGEM” (2022) [National Institute Economic Review (Global Economic Outlook)] (Topical Feature I), with P. Sanchez-Juanino, I. Liadze, B. Naisbitt, National Institute Economic Review, 259.

"UK Short-Term Interest Rate Expectations Retreat from Highest Level Since January 2020” (2021) [NIESR Quarterly Term Premium Tracker], NIESR Term Premium Tracker No. 3, Dec

“Global Economic Outlook – Inflation: It’s Baaack!” (2021) [National Institute Economic Review (Global Economic Outlook)] with B. Naisbitt; J. Boshoff, D. Holland, I. Hurst, H. Küçük, I. Liadze, I, X. Mao, P. Sánchez Juanino, C. Thamotheram, K. Whyte, National Institute Economic Review, 258, Autumn

“US Inflation – peaking soon?” (2021) [National Institute Economic Review (Global Economic Outlook)] with P. Sanchez-Juanino and B. Naisbitt (Box A), National Institute Economic Review, 258, November.

“UK Term Premium Drops to Four Month Low Over Summer” (2021) [NIESR Quarterly Term Premium Tracker], NIESR Term Premium Tracker No. 2, Sept

"Global Economic Outlook - Lifting the Pandemic Cloud" (2021) [National Institute Economic Review (Global Economic Outlook)] with B. Naisbitt; J. Boshoff, D. Holland, I. Hurst, H. Küçük, I. Liadze, I, X. Mao, P. Sánchez Juanino, C. Thamotheram, K. Whyte, National Institute Economic Review, 257, Summer

"Simulating the effect of the EU Recovery and Resilience Facility in NiGEM” (2021) [National Institute Economic Review (Global Economic Outlook)] (Topical Feature I), with I. Liadze, National Institute Economic Review, 257

“UK Treasury Yields Rise Due to an Increase in the Term Premium” (2021) [NIESR Quarterly Term Premium Tracker], NIESR Term Premium Tracker No. 1, June

“Global Economic Outlook - Our Vaccine Debt” (2021) [National Institute Economic Review (Global Economic Outlook)] with B. Naisbitt; J. Boshoff, D. Holland, I. Hurst, H. Küçük, I. Liadze, I, X. Mao, P. Sánchez Juanino, C. Thamotheram, K. Whyte, National Institute Economic Review, 256, Spring

"Financial Spillovers of the American Rescue Plan on Emerging Markets” (2021) [National Institute Economic Review (Global Economic Outlook)] (Topical Feature II),  with D. Holland, X. Mao, National Institute Economic Review, 256

“Global Economic Outlook - The World in its Grip: Covid-19” (2021) [National Institute Economic Review (Global Economic Outlook)] with B. Naisbitt; J. Boshoff, D. Holland, I. Hurst, H. Küçük, I. Liadze, I, X. Mao, P. Sánchez Juanino, C. Thamotheram, K. Whyte, National Institute Economic Review, 255, Feb

"Trade and the unequal race to the Covid-19 vaccine” (2021) [National Institute Economic Review (Global Economic Outlook)] (Topical Feature I),  with D. Holland, X. Mao, National Institute Economic Review, 255

“Prospects for the World Economy” (2020) [National Institute Economic Review (The World Economy)] with B. Naisbitt; J. Boshoff, D. Holland, I. Hurst, H. Küçük, I. Liadze, I, X. Mao, P. Sánchez Juanino, C. Thamotheram, K. Whyte, National Institute Economic Review, 254, Cambridge University Press, Nov

“Government bond term premia during the pandemic” (2020) [National Institute Economic Review (The World Economy)] (Box B),  National Institute Economic Review, 254, Cambridge University Press, February, pp. F64–66

“Prospects for the World Economy” (2020) [National Institute Economic Review (The World Economy)] with B. Naisbitt; J. Boshoff, D. Holland, I. Hurst, A. Kara, I. Liadze, I, X. Mao, P. Sánchez Juanino, C. Thamotheram, K. Whyte, National Institute Economic Review, 253, Cambridge University Press, Aug

“Prospects for the World Economy” (2020) [National Institute Economic Review (The World Economy)] with B. Naisbitt; J. Boshoff, D. Holland, I. Hurst, A. Kara, I. Liadze, I, X. Mao, P. Sánchez Juanino, C. Thamotheram, K. Whyte, National Institute Economic Review, 252, Cambridge University Press, May

“Are the Euro Area and the US en route to Japanisation?” (2020) [National Institute Economic Review (The World Economy)] with  C.  Lenoël and B. Naisbitt (Box C),  National Institute Economic Review, 251, Cambridge University Press, February, pp. F52–57

“Update: How is Covid-19 affecting international travel and tourism?” (2022) [The Economics Observatory], The Economics Observatory (ECO), 30 Aug

"What might be the macroeconomic cost of the war in Ukraine?" (2022) [The Economics Observatory], The Economics Observatory (ECO), 27 May

"How is Covid-19 affecting international travel and tourism?" (2021) [The Economics Observatory], The Economics Observatory (ECO), 22 April

“‘Monetary financing’: is it happening and what are the dangers?” (2020) [The Economics Observatory] with Michael McMahon, The Economics Observatory (ECO), 27 May

“Quantitative easing and monetary financing: what’s the difference?” (2020) [The Economics Observatory] with Michael McMahon, The Economics Observatory (ECO), 27 May 

 “Banking union gaps leave European ‘doom loop’ intact” (2014) [Oxford Analytica] Oxford Analytica Daily Brief, 3 Sept 

 "Investing in Fixed Income, Europe 2022", (2022), [Investing in Fixed Income Report] with A. Kelshiker, J. Jessop, G. Moec, M. Leppälä, R. Stow, A. Gill, C. Fleury, J. Mawby, C. Milton-Edwards, K. Cummins, M. Connell, D. Silcock and D. Carlin, ClearPath Analysis, 14 February.