Publications

See ideas/repec for download links

Fixed on Flexible: Rethinking Exchange Rate Regimes after the Great Recession (2017), with Giancarlo Corsetti and Gernot Mueller.
IMF Economic Review, vol. 65 (3), pp. 586-632. draft, published version

The fiscal mix in the euro-area crisis — dimensions and a model-based assessment of effects (2017), with Giovanni Callegari and Francesco Drudi. Economic Policy, vol 32 (89): 127-169. draft, technical appendix, published version, replication and data

Fiscal Volatility Shocks and Economic Activity (2015), with Jesús Fernández-Villaverde, Pablo A. Guerrón-Quintana, and Juan Rubio-Ramírez. American Economic Review, vol. 105 (11): 3352-84. published version and replication files (complimentary)

Optimal Labor-Market Policy in Recessions (2015), with Philip Jung. American Economic Journal: Macroeconomics, 7(2): 124-56. draft, published version and replication files,

Sovereign risk and belief-driven fluctuations in the euro area (2014), with Corsetti, Meier, Mueller, Journal of Monetary Economics, vol. 61(C): 53-73.  draft, published version.

Sovereign Risk, Fiscal Policy, and Macroeconomic Stability (2013) , with Giancarlo Corsetti, André Meier, and Gernot Mueller, Economic Journal, 123(566): F99-F132. draft, published version.

Floats, Pegs and the Transmission of Fiscal Policy (2013) , with Giancarlo Corsetti and Gernot Mueller, in: Luis Felipe Céspedes and Jordi Galí (eds) “Series on Central Banking, Analysis, and Economic Policies, Volume 17: Fiscal Policy and Macroeconomic Performance,” p. 235-281, Santiago: Central Bank of Chile. published version (complimentary).

The (Un)Importance of Unemployment Fluctuations for the Welfare Cost of Business Cycles (2011), with P. Jung. Journal of Economic Dynamics and Control, 35(10), p. 1744-1768. draft, published version.

Real Price and Wage Rigidities with Matching Frictions (2010). Journal of Monetary Economics, 57(4), p. 466-477. published version.

Debt Consolidation and Fiscal Stabilization of Deep Recessions (2010), with G. Corsetti, A. Meier and G. Mueller. American Economic Review, Papers and Proceedings, 100(2), p. 41-45. published version (complimentary).

Insurance Policies for Monetary Policy for the Euro Area (2010), with V. Wieland. Journal of the European Economic Association, 8(4), p. 872-912. published version

The Role of Labor Markets for Euro Area Monetary Policy (2009), with K. Christoffel and T. Linzert. European Economic Review, 53(8), p. 908-936. draft, published version.

The Elasticity of the Unemployment Rate with respect to Benefits (2009), with K. Christoffel. Economics Letters, 102(2), p. 102-105. published version.

Is the New Keynesian Phillips Curve Flat? (2009), with G. Mueller and S. Stoelting. Economics Letters, 103(1), p. 39-41. published version.

Resuscitating the Wage Channel in Models with Unemployment Fluctuations (2008), with K. Christoffel. Journal of Monetary Economics, 2008, 55(5), p. 865-887. published version.

Value-at-Risk Prediction: A Comparison of Alternative Strategies (2006), with S. Mittnik and M. Paolella. Journal of Financial Econometrics, 2006, 4(1), p. 53-89. published version.

Optimal Monetary Policy Rules for the Euro Area (2005), with A. Dieppe and P. McAdam. Journal of Common Market Studies, 2005, 43(3), p. 507 – 537. published version.

An old (dormant) paper

Inflation Dynamics with Labour Market Matching: Assessing Alternative Specifications (2009), with Christoffel, Costain, de Walque, Linzert, Millard, and Pierrard, Philadelphia Fed WP 09-6. Download.