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Working Papers
Global monetary and financial spillovers: Evidence from a new measure of Bundesbank policy shocks with James Cloyne and Alan M. Taylor, NBER Working Paper 30485. Also available as: Bundesbank Discussion Paper 34/2022, CEPR Working Paper 17587. Summaries: Bundesbank Research Brief No. 54: [de] / [en], VoxEU.
On the empirical relevance of the exchange rate as a shock absorber at the ZLB with David Finck and Mathias Hoffmann, Bundesbank Discussion Paper 10/2023.
Do exchange rates absorb demand shocks at the ZLB? with Mathias Hoffmann, Bundesbank Discussion Paper 13/2021.
Publications
Are Tax Cuts Contractionary at the Zero Lower Bound? Evidence from a Century of Data, with James Cloyne and Nicholas Dimsdale, accepted at Journal of Political Economy, pdf coming soon.
Zero-risk weights and capital misallocation with Takuji Fueki and Todd B. Walker, Journal of Financial Stability, Volume 72, June 2024, 101264. Other: Bundesbank DP 16/2024. Summary: VoxEU
Expectations formation, sticky prices, and the ZLB with Elizabeth Bersson and Matthias Paustian, Journal of Money, Credit and Banking, Volume 56, Issue 2-3, pp. 365-393, March-April 2024. Older: Bundesbank DP 34/2019. Summary: Bundesbank Research Brief No. 31: [de], [en].
Fiscal space in the COVID-19 pandemic, Applied Economics, Volume 53, Issue 39, pp. 4517-4532. Older: Bundesbank DP 35/2020.
Disagreement about inflation expectations and monetary policy transmission with Elisabeth Falck and Mathias Hoffmann, Journal of Monetary Economics, Volume 118, March 2021, pp. 15-31. Older: Bundesbank DP 29/2017. Summary: VoxEU, Bundesbank Research Brief No. 15: [de], [en].
The macroeconomic effects of monetary policy: A new measure for the United Kingdom with James Cloyne, American Economic Journal: Macroeconomics, Volume 8(4), pp. 75-102, October 2016. Older: BoE WP No. 493. Summary: VoxEU.
Inflation expectations, disagreement, and monetary policy with Mathias Hoffmann, Economics Letters, Volume 146, pp. 59-63, September 2016.
Sovereign default risk and state-dependent twin deficits with Ronald Rühmkorf, Journal of International Money and Finance, Volume 48, pp. 357-382, November 2014. Awards: ZEW Heinz König Young Scholar Award 2013.
Consumer misperceptions, uncertain fundamentals, and the business cycle, Journal of Economic Dynamics and Control, Volume 40, pp. 279–292, March 2014.