Policy Papers

World Bank

Policy paper that I have prepared as the short-term consultant:

Basel III  Implementation and SME Financing: Evidence for Emerging Markets and Developing Economies, with B. Fisera and M. Melecky

European Parliament - Monetary Dialogue

Briefing papers that I have prepared as a member of the expert panel of advisers for the European Parliament’s Committee on Economic and Monetary Affairs for its quarterly meetings with the European Central Bank’s President:

Design and sequencing of exit from non-standard monetary policy measures: What should the ECB “new normal” look like? , 20th November 2017

The Side Effects of Unconventional Monetary Policy, 6th February 2017 

An Assessment of the Impact of Brexit on Euro Area Stability, with Christopher Hartwell, 28th November 2016 

Financial Market Fragmentation and Monetary Transmission in the Euro Area, 26th September 2016 

Divergent Monetary Policies of the US Federal Reserve and the ECB: Implications for the Euro Area, 15th February 2016

The papers are available at Monetary Dialogue.

Czech National Bank

Policy paper that I have prepared within their research programme:

International Spillovers of (Un)Conventional Monetary Policy: The Effect of ECB and US Fed on Non-Euro EU Countries, with J. Hajek, Czech National Bank working paper series, No. 5-2017