Research

Publications

"The Effects of Fiscal Policy when Planning Horizons are Finite" with Joep Lustenhouwer. 2024. Journal of Money, Credit and Banking, forthcoming. Replication codes.

"Behavioral Learning Equilibria in New Keynesian models" with Cars Hommes, Tolga Ozden & Mei Zhu. 2023. Quantitative Economics, vol 14, Issue 4. Replication codes.

"Global Models for a Global Pandemic: The Impact of Covid-19 on small Euro-Area Economies", with Pablo Garcia, Pascal Jacquinot, Crt Lenarcic and Matija Lozej. 2023.  Journal of Macroeconomics, vol. 77.

"Optimal QE in a Monetary Union" with Serdar Kabaca, Romanos Priftis and Renske Maas. 2023. European Economic Review, vol. 152. Replication codes.

"Forward Guidance and the Role of Central Bank Credibility under Heterogeneous Beliefs", with Cars Hommes and Gavin Goy. 2022. Journal of Economic Behavior and Organization, vol. 200, pp 1240-1274. Special section on Theoretical and Experimental Monetary Economics; Guest Edited by John Duffy, Daniel Houser, Cesar Martinelli and Daniela Puzzello.

"Individual Inflation Forecasts and Monetary Policy Announcements", with Jakob de Haan and Garyn Tan. 2020. Economics Letters, vol. 197.

"Finite Horizons and the Monetary/Fiscal Policy Mix". 2020. International Journal of Central Banking, vol. 16, No. 4, pp 327-378.

"US Monetary Regimes and Optimal Monetary Policy in the Euro Area". 2018. Journal of Money, Credit and Banking, vol. 50, No. 7, pp 1441-1478.

"Fiscal Consolidations and Heterogeneous Expectations", with Cars Hommes and Joep Lustenhouwer. 2018. Journal of Economic Dynamics and Control, vol. 87, pp 173-205.

"Real Exchange Rates and Transition Economies", with Gianna Boero and Mark P. Taylor. 2015. Journal of International Money and Finance, vol. 56, pp 23-35.

"An Analysis of Eurobonds", with Roel Beetsma. 2014. Journal of International Money and Finance,  vol. 45, pp 91-111.

Working Papers

"Optimal Normalization Policy under Behavioral Expectations", 2024, with Alexandre Carrier. DNB working paper No 800.

"Green Transition in the Euro Area: domestic and global factors", 2024, with Pablo Garcia, Pascal Jacquinot, Crt Lenercic, Niki Papapdopoulou and Edgar Silgado-Gomez

"The Global Macroeconomics of a Trade War: Pass-through, Zero Lower Bound and Trade Diversion", 2023 (New version), with Wilko Bolt and Sweder van Wijnbergen. Previously appeared as "The Global Macroeconomics of a Trade War: the EAGLE model on the US-China Trade Conflict", 2019; CEPR discussion paper (also featured in Financieele Dagblad; article). vox column

Work in Progress

Macroeconomic implications of price and liability dollarization, with Daniela Hauser

Optimal Conventional and Unconventional Monetary Policy Mix, with Sami Alpanda and Serdar Kabaca

Policy Related contributions and other Publications

Challenges for Monetary and Fiscal Policy Interactions in the Post-Pandemic Era (edited by Dennis Bonam, Matteo Cicarrelli and Sandra Gomes)

Geoeconomic Fragmentation: Economic and Financial Stability Implications (with Wilko Bolt, Jan Willem van den End, Jos de Grip, Ralph Verhoeks and Nander de Vette)

Macroeconomic Effects of the Inflation Reduction Act (with Jonathan Rusch, Mario Carceller del Arco, Edi Vording and Bas Heerma van Voss)

Exchange Rate Pass-Through in the Euro Area and EU countries (edited by Eva Ortega and Chiara Osbat)

Klimaatverandering en transitiebeleid maken inflatie volatieler (with Jan Willem van den End and Marco Hoeberichts)

Winnars en verliezers bij handelsoorlog tussen Verenigde staten en China (with Sweder van Wijnbergen and Wilko Bolt)