Policy Work

Euro area linkages with Russia: latest insights from the balance of payments, ECB Economic Bulletin Issue 7 / 2022, with Lorenz Emter, Michael Fidora and Fausto Pastoris.

The implications of globalisation for the ECB monetary policy strategy (2021), ECB Occasional Paper No. 263, with the ECB Strategy Review workstream on globalisation.

An assessment of euro area households’ missing foreign assets (2021), BIS IFC Bulletin No. 55.

The more the merrier: enhancing traditional cross-border portfolio investment statistics using security-by-security information (2021), BIS IFC Bulletin No. 55, with Antonio Rodríguez Caloca and Thorsten Radke.

Developments in the euro area current account during the pandemic, ECB Economic Bulletin Issue 4 / 2021, with Michael Fidora and Fausto Pastoris.

The ECB’s enhanced effective exchange rate measures, ECB Economic Bulletin Issue 6 / 2020, with Michael Fidora.

Multinational enterprises, financial centres and their implications for external imbalances: a euro area perspective , ECB Economic Bulletin Issue 2 / 2020, with Virginia Di Nino and Maurizio Habib.

The decrease in euro area net financial outflows in 2018: foreign direct investment retrenchment and portfolio investment slowdown, ECB Economic Bulletin Issue 4 / 2019, with Michael Fidora.

Euro-US dollar exposures in cross-border banking, The international role of the euro 2019, with Agustín Bénétrix.

The impact of global value chains on the euro area economy (2019), ECB Occasional Paper No. 221, with the ECB Working Group on Global Value Chains.

International financial flows and the Eurosystem's asset purchase programme: evidence from b.o.p and security by security data (2019), BIS IFC Bulletin No. 49, with Katharina Bergant.

The geography of the euro area current account balance, ECB Economic Bulletin Issue 7 / 2018, with Michael Fidora.

Factors driving the recent improvement in the euro area’s international investment position, ECB Economic Bulletin Issue 3 / 2018, with Michael Fidora.

Cross-border banking in the euro area after the crisis: what is driving the great retrenchment?, ECB Financial Stability Review (November 2017), with Marcel Tirpák.

The Eurosystem’s asset purchase programme and TARGET balances (2017), ECB Occasional Paper No. 196, with Jens Eisenschmidt, Danielle Kedan, Ramón Adalid and Patrick Papsdorf.

The impact of global value chains on the macroeconomic analysis of the euro area, ECB Economic Bulletin Issue 8 / 2017, with Vanessa Gunnella and Michael Fidora.

Euro area exchange rate-based competitiveness indicators: a comparison of methodologies and empirical results (2013), BIS IFC Bulletin No. 36, with Bernadette Lauro.

Experimental effective exchange rates based on trade in services, presented at the CompNet workshop Paris 2012.