Sebastian Schmidt - personal webpage
European Central Bank
Monetary Policy Research Division
I am an Economist in the Monetary Policy Research Division of the European Central Bank.
"Conservatism and Liquidity Traps," with Taisuke Nakata, FEDS working paper 2014-105.
"Fiscal Activism and the Zero Nominal Interest Rate Bound," February 2015 (first version January 2013).
[Older version: ECB Working Paper No. 1653 (2014)]
"Lack of confidence, the zero lower bound, and the virtue of fiscal rules," November 2014.
"Comparing fiscal multipliers across models and countries in Europe," with J. Kilponen, M. Pisani, V. Corbo, T. Hledik, J. Hollmayr, S. Hurtado, P. Júlio, D. Kulikov, M. Lemoine, M. Lozej, H. Lundvall, J. Maria, B. Micallef, D. Papageorgiou, J. Rysanek, D. Sideris, C. Thomas and G. De Walque. ECB Working Paper No. 1760, March 2015.
"Dealing with a Liquidity Trap when Government Debt Matters: Optimal Time-Consistent Monetary and Fiscal Policy," with Matthias Burgert, Journal of Economic Dynamics and Control, 47, 282-299, October 2014.
"Optimal Monetary and Fiscal Policy with a Zero Bound on Nominal Interest Rates," Journal of Money, Credit and Banking, 45(7), 1335-1350, October 2013. [Online Appendix]
"The New Keynesian Approach to Dynamic General Equilibrium Modeling: Models, Methods, and Macroeconomic Policy Evaluation," with Volker Wieland, in: P.B. Dixon and D.W. Jorgenson (eds.), Handbook of Computable General Equilibrium Modeling, Vol. 1, Elsevier, North-Holland, 2013.
"A New Comparative Approach to Macroeconomic Modeling and Policy Analysis," with Volker Wieland, Tobias Cwik, Gernot Mueller and Maik Wolters, Journal of Economic Behavior and Organization, 83(3), 523-541, August 2012.
"The Cost Channel, Indeterminacy, and Price-Level versus Inflation Stabilization," The B.E. Journal of Macroeconomics, Vol. 11 (Topics), Article 3, January 2011.
"Liquidity Traps and Expectation Dynamics: Fiscal Stimulus or Fiscal Austerity?" by J. Benhabib, G. Evans and S. Honkapohja, SNB Research Conference 2013, September 2013. [Discussion slides]