Did expansionary fiscal and monetary policies cause the inflation surge?, with Andrew Hodge, Jesper Linde, and Zoltan Jakab, Oxford Review of Economic Policy, June 2025.
Real exchange rate volatility and imports of Intermediate inputs: A micro-econometric analysis of manufacturing plants, with Ricardo A López, Review of International Economics 23 (5), 972-995, 2015. (Vox article here, top 10 blogs of the year)
Women’s Land Rights and Children’s Human Capital in Vietnam, with Nidhiya Menon and Y van der Meulen Rodgers, World Development 54, 18-31, 2014.
How to Measure the Monetary Policy Stance, IMF Note, Jan 2025 (with Olamide Harrison)
Monetary Policy with Uncertain Inflation Persistence, (with Luis Brandao-Marques and Roland Meeks), IMF Working Paper 2024/047.
Summary of policy application in this blog.
Quantitative Tightening by the ECB: Why and How?, (with Nazim Belhocine and Frederick Toscani), Selected Issues Paper 2023.
Financial Conditions in Europe: Drivers, Dynamics, and Macroeconomic Implications, (with Giovanni Borraccia, Raphael Espinoza, Vincenzo Guzzo, Fuda Jiang, Romain Lafarguette, Miguel Segoviano, and Phillippe Wingender), IMF Working Paper 2023/209.
Data available with quarterly update here.
Summary available in Box 1.2, European Departmental Regional Economic Outlook October 2022.
The Interest Rate Gap and Financial Conditions in Lithuania, Selected Issues Paper 2019
Shared Problem, Shared Solution: Benefits from Fiscal-Monetary Policy Interactions in the Euro Area, (with Monetary-Fiscal Working Group), IMF Working Paper 2023
Short presentation to Central Bank of Slovenia.
U.S. and Euro Area Monetary and Fiscal Interactions During the Pandemic: A Structural Analysis, (with Andrew Hodge, Jesper Linde, and Zoltan Jakab), IMF Working Paper, 2022
It is Only Natural: Europe’s Low Interest Rates (with Marco Arena, Gabriel Di Bella, Alfredo Cuevas, Borja Gracia, and Alex Pienkowski), IMF Working Paper, 2020.
Inclusion of Owner-occupied Housing Costs in the HICP (with Silvia Domit and Niall O'Hanlon), Annex II, Euro Area Staff Report 2021
Banking Sector Competitiveness, Financial Stability, and Credit Developments in Azerbaijan, Selected Issues Paper 2017 (not publicly available)
Fiscal Challenges in Lithuania, Selected Issues Paper 2018
Unleashing Israel's Potential: Is Boosting Public Investment the Answer?, Selected Issues Paper 2018
Fiscal Transparency Evaluation Report, Lithuania 2019
India Financial System Stability Assessment (FSSA) (2025), India Macroprudential Policies and Systemic Risk Oversight Technical Note (2025),
Euro area (2023, 2021, 2020, Press Release, Blog),
Israel (2018),
Azerbaijan (2017 - not publicly available, 2016),
Turkmenistan (2016 - not publicly available),
Kosovo, Government Financial Statistics TA Report (2015- not publicly available ),
Brunei (2015 - not publicly available - Press Release).
The Impact of TLTROs on Bank Lending (with Andy Jobst),
European Vulnerable Population Groups and the Covid Pandemic Crisis (with Davide Malacrino)
Uncertainty in the Housing Market: Evidence from Household Survey Data and an Adaptive Learning Model, 2014 (Best paper award at American Real Estate Society Meeting)
Population Aging and the Effects on Real Estate and Financial Asset Returns, 2012