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Working Papers

  • Policy Rules and the Inflation Surge: The Case of the ECB, Co-author Balint Tatar, CEPR Discussion Paper 19521 (PDF), IMFS Working Paper No. 209 (PDF), September 2024
  • Taylor Rules and the Inflation Surge: The Case of the Fed, Co-author Balint Tatar, CEPR Discussion Paper, IMFS Working Paper No. 201 (PDF), March 2024
  • Government bond rates and interest expenditure of large euro member states: A scenario analysis, Co-authors: Veronika Grimm, Lukas Nöh, International Finance, Vol 26, Issue 3, p. 286-303. Data and software.
  • A potential sudden stop of energy imports from Russia: Effects on energy security and economic output in Germany and the EU, German Council of Economic Experts, Co-authors Veronika Grimm, Monika Schnitzer, Achim Truger, GCEE Working Paper 1/2022 (PDF), IMFS Working Paper 166 (PDF)
  • The decline in euro area inflation and the choice of policy strategy, IMFS Working Paper 159 (PDF)
  • The German Federal Constitutional Court Ruling and the European Central Bank's Strategy, Co-author: Lars P. Feld, IMFS Working Paper 145, October 2020 (PDF)
  • The Ruling of the Federal Constitutional Court concerning the Public Sector Purchase Program, Co-author: Helmut Siekmann, IMFS Working Paper 140, May 2020 (PDF)
  • Verfahren zum Anleihekaufprogramm der EZB, IMFS Working Paper 139, May 2020 (PDF)
  • Evaluating Rules in the Fed's Report and Measuring Discretion, co-authors John H. Cochrane, John B. Taylor, in: John H. Cochrane and John B. Taylor (eds.), Strategies for Monetary Policy, Hoover Institution Press, May 2020
  • On the Macroeconomic and Fiscal Effects of the Tax Cuts and Jobs Act, Co-author: Philipp Lieberknecht, IMFS Working Paper 131, October 2019 (PDF)
  • Lower for longer: The case of the ECB, Co-author: Tilman Bletzinger, Economics Letters, Volume 159, 123-127, October 2017; IMFS Working Paper No. 102 (PDF)
  • How to Normalize Monetary Policy in the Euro Area, Co-author: Guenter Beck, IMFS Working Paper Series No. 115, September 2017 l PDF
  • Model Uncertainty in Macroeconomics: On the Implications of Financial Frictions, Co-authors: Michael Binder, Philipp Lieberknecht, Jorge Quintana, CEPR Discussion Paper 12013 l April 2017 l Download: Working Paper
  • Robust Macro-Prudential and Regulatory Policies under Model Uncertainty, Co-authors: Michael Binder, Philipp Lieberknecht, Jorge Quintana, prepared for the project 'Integrated Macro-Financial Modelling for Robust Policy Design' (MACFINROBODS), Seventh Framework Programme for Research and Technological Development (FP7), March 2017 (PDF)
  • Fiscal Multipliers in Policy Focused Models with Financial Sector Risk, Co-authors: Michael Binder, Philipp Lieberknecht, prepared for the project 'Integrated Macro-Financial Modelling for Robust Policy Design' (MACFINROBODS), Seventh Framework Programme for Research and Technological Development (FP7), October 2016 (PDF)
  • Robust Monetary and Fiscal Policies under Model Uncertainty, Co-authors: Elena Afanasyeva, Michael Binder, Jorge Quintana, prepared for the project 'Integrated Macro-Financial Modelling for Robust Policy Design' (MACFINROBODS), Seventh Framework Programme for Research and Technological Development (FP7), October 2016 l Download: Working Paper
  • Heterogeneous Information, Diverse Higher-Order Beliefs and Business Cycles: Propagation Mechanisms and Empirical Performance, Co-Authors: Michael Binder, Mátyás Gábor Farkas, prepared under the project 'Integrated Macro-Financial Modelling for Robust Policy Design' (MACFINROBODS), Seventh Framework Programme for Research and Technological Development (FP7), April 2016 | Download: Working Paper
  • Schätzung des mittelfristigen Gleichgewichtszinses in den Vereinigten Staaten, Deutschland und dem Euro-Raum mit der Laubach-Williams-Methode (Estimating the medium-term equilibrium real interest rate in the United States, Germany and the Euro Area with the Laubach-Williams method), Co-author: Robert C.M. Beyer, Arbeitspapier 03/2015, German Council of Economic Experts | Download: Working Paper
  • The Role of Tax Policy in Fiscal Consolidation: Insights from Macroeconomic Modelling, Co-author: Matthias Burgert, in, Savina Princen and Gilles Moure, "The role of tax policy in times of fiscal consolidation," Economic Papers 502, European Economy, European Commission, August 2013 | Download: Link
  • The European Central Bank's Outright Monetary Transactions and the Federal Constitutional Court of Germany, Co-author: Helmut Siekmann, IMFS Working Paper Series No. 71, June 2013 | Download: Working Paper
  • Asset Pricing under Rational Learning about Rare Disasters, Co-author: Christos Koulovatianos, IMFS Working Paper Series No. 46, August 2011 | Download: Working Paper
  • Inflation Dynamics and International Linkages: A Model of the United States, the Euro Area and Japan , Co-author: Guenter Coenen, ECB Working Paper Series 181, September 2002. | Download: ECB Working Paper 181
  • Monetary Policy Under Federal Reserve Chairman Volcker and Greenspan: An Exercise in Description, with Athanasios Orphanides and David Lindsey, Manuscript, March 1997. | Download: Working Paper