What's new?
05/02/2024: I will be a Senior George Fellow at the Bank of England, starting October 2024 for a period of 8 months.
05/12/2023: I am teaching a 2-day course on "Constrained Optimal Policy Projections" at the International Monetary Fund (IMF) in Washington D.C.
22/07/2023: An updated version of "Monetary Policy and Regional Inequality" has been released here, complete with a new section that provides a structural interpretation of the empirical findings (joint work with Sebastian Hauptmeier, Fédéric Holm-Hadulla, and Katerina Nikalexi)
11/07/2023: Contributed a chapter, "Ensuring monetary-financial stability for successful recovery ", joint with Yevhenii Skok, to a new report commissioned by Universities UK International from the Universities Policy Exchange Network, "Ukraine's Road to Recovery", Edited by Yuriy Gorodnichenko & Serhiy Stepanchuk
05/07/2023: My work with Jozef Konings contributed to the National Bank of Kazakhstan's (NBK) Monetary Policy Strategy 2030. See our research report here and here and the NBK's press release here and here.
05/05/2023: My paper, joint with Alex Haas, accepted for publication in the Journal of Monetary Economics: The Signalling Channel of Negative Interest Rates
15/11/2022: Wrote a column for VoxEU titled War in Ukraine: Ukaine's monetary-financial vulnerabilities, jointly written with my PhD student Yevhenii Skok. Find it here
12/11/2022: Spending a week at the Monetary & Capital Markets Department of the IMF in Wasington DC as a visiting scholar/consultant.
20/10/2022: Gave a research seminar the University of Nottingham on US Monetary Policy at the Height of the Financial Crisis: A Constrained Optimal Policy Projections Perspective
10/10/2022: Gave a research seminar the University of Swansea on US Monetary Policy at the Height of the Financial Crisis: A Constrained Optimal Policy Projections Perspective
10/04/2022: Ran a new personal best time at the Rotterdam Marathon of 2h:40m:32s (over seven years after my previous personal best)
17/03/2022: Wrote a column for VoxEU titled War in Ukraine: The financial defence, jointly written with my PhD student Yevhenii Skok. Find it here
06/03/2022: Ran a new personal best time at the Cambridge Half Marathon of 1h:15m:12s (over seven years after my previous personal best)
08/10/2021: My paper, Valuation Risk Revalued, joint with Alex Richter and Nate Throckmorton has been accepted for publication in Quantitative Economics
04/10/2021: The Journal of Macroeconomics Special Issue on Optimal Monetary Policy: Theory and Practice, guest edited by Roberto Motto and myself, has been published
09/07/2021: Discussing the paper "A Quantitative Model for the Integrated Policy Framework" by Tobias Adrian et al. (IMF) at the CEBRA Annual Research conference. Slides here
25/01/2021: First day of the Joint University of Liverpool-Journal of Macroeconomics Conference on the Optimal Monetary Policy. Details here
01/01/2021: Taken on the Subject Group Head for Economics role at the University of Liverpool Management School
29/08/2020: Wrote a piece with Alex Haas for the Economics Observatory titled Should the Bank of England use negative interest rates in response to the crisis? Find it here
27/06/2020: My paper published in the Economic Journal: A Financial Accelerator through Coordination Failure
06/04/2020: The latest publication of the CESIfo Forum features my article titled The Negative Interest Rate Policy Experiment, jointly written with Alex Haas. Find it here
28/02/2020: Deadline to submit your paper to the Joint Liverpool-Journal of Macroeconomics Conference on Monetary Policy. Details here
01/01/2020: Awarded an ESRC NWSSDTP CASE studentship, joint with Andy Blake at the Bank of England, starting in October 2020. In short, this is a full funding for a PhD student (1+3 years). The studentship The student will be jointly supervised by myself and Andy and will divide their time between the University of Liverpool Management School and at the Centre for Central Banking Studies at the Bank of England. The PhD research project is titled "Monetary policy in a low (or negative) interest rates environment with a focus on bank heterogeneity. Theory and evidence".
If you are a student with excellent quantitative skills, interested in this research area, and looking for a fully funded scholarship to pursue a PhD, please get in contact!
01/12/2019: Became a research affiliate at the Centre for Economic Policy Research (CEPR)
22/11/2019: Gave a talk on The Signalling Channel of Negative Interest Rates at the Bank of Canada's Frontiers of Monetary Policy and Financial Studies workshop
4/11/2019: Uploaded a new NBER working paper, joint with Bora Durdu and Enrique Mendoza: Global v. Local Methods in the Analysis of Open-Economy Models with Incomplete Markets. Find it here
01/08/2019: Uploaded a new version of The Signalling Channel of Negative Interest Rates here
29/07/2019: Gave a talk on The Signalling Channel of Negative Interest Rates at the Bank of England
19/07/2019: Uploaded a new version of Valuation Risk Revalued here
18/07/2019: The first day of the Liverpool Workshop in Applied Macroeconomics. Details here
13/06/2019: Gave a talk on Valuation Risk Revalued and discussed Eddie Gerba's paper on Macroprudential policy at the MMCN Research Conference at Goethe University, Frankfurt. Find my slides here
30/04/2019: Gave a talk on The Signalling Channel of Negative Interest Rates at the Dallas Fed
15/04/2019: Visiting researcher for one week at the National Bank of Poland
01/02/2019: Joined the University of Liverpool Management School (ULMS) as the Chair in Macroeconomics. My ULMS page is here
12/11/2018: Gave a talk on The Signalling Channel of Negative Interest Rates at De Nederlandsche Bank's Annual Research Conference
20/07/2018: Uploaded my new paper, joint with Alex Richter and Nate Throckmorton: Valuation Risk Revalued. Find it here
17/10/2018: Gave a talk on The Signalling Channel of Negative Interest Rates at the University of Zurich
27/04/2018: Gave a talk on The Signalling Channel of Negative Interest Rates at the EABCN/CEPR Conference: "Measuring the Effects of Unconventional Monetary Policy"
15/02/2018: Uploaded my new paper, joint with Alex Haas: The Signalling Channel of Negative Interest Rates. Find it here
01/07/2018: My paper, joint with Alex Richter and Nate Throckmorton published in Econometrica: Uncertainty Shocks in a Model of Effective Demand: Comment