Sebastian Schmidt - personal webpage

    Contact Information:                        
    European Central Bank
    Monetary Policy Research Division
    60640 Frankfurt


I am an Economist in the Monetary Policy Research Division of the European Central Bank.

Working Papers:

"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). 


"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 Organization83(3), 523-541, August 2012.
"The Cost Channel, Indeterminacy, and Price-Level versus Inflation Stabilization," The B.E. Journal of MacroeconomicsVol. 11 (Topics), Article 3, January 2011.

Selected discussions:

"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]