Monetary Economics, Macro-Labor Economics, Applied Econometrics.

Publications

• Real Price and Wage Rigidities with Matching Frictions (2010).
  Journal of Monetary Economics, forthcoming.

• Debt Consolidation and Stabilization of Deep Recessions (2010), with G. Corsetti, A. Meier and G. Mueller.
  American Economic Review, Papers and Proceedings, forthcoming.

• The Role of Labor Markets for Euro Area Monetary Policy (2009), with K. Christoffel and T. Linzert.
  European Economic Review, forthcoming. Abstract. Download Philadelphia Fed Working Paper 09/01.

• Insurance Policies for Monetary Policy for the Euro Area (2008), with V. Wieland.
  Journal of the European Economic Association, forthcoming. Abstract.  Download Philadelphia Fed WP 2008-29 (May 2008).

• The Elasticity of the Unemployment Rate with respect to Benefits (2009), with K. Christoffel.
  Economics Letters, 102(2), p. 102-105. Abstract.  Download Philadelphia Fed WP 2008-15.

• Resuscitating the Wage Channel in Models with Unemployment Fluctuations (2008), with K. Christoffel.
  Journal of Monetary Economics, 2008, 55(5), p. 865-887. Abstract,   Published Version,  Working Paper.

• Is the New Keynesian Phillips Curve Flat? (2009), with G. Mueller and S. Stoelting.
  Economics Letters, 103(1), p. 39-41. Abstract.   Download latest 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. Abstract,   Published Version,   Older Working paper.

• 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. Abstract,   Published Version,  Working paper.

Working papers

• Inflation Dynamics with Labour Market Matching: Assessing Alternative Specifications (2009), with Kai Christoffel, James Costain, Gregory de Walque, Tobias Linzert, Stephen Millard, and Olivier Pierrard, Working Paper 09/6, Federal Reserve Bank of Philadelphia.
  Abstract.   Download.

• The (Un)Importance of Unemployment Fluctuations for the Welfare Cost of Business Cycles (2008), with P. Jung. April 2009 revision of Working Paper 08/31, Federal Reserve Bank of Philadelphia.
  Abstract.   Download.

• Real Price and Wage Rigidities in a Model with Matching Frictions (2006). ECB Working Paper No. 720.
  Abstract.  Download.

• Identifying the Role of Labor Markets for Monetary Policy in an Estimated DSGE Model (2006), with K. Christoffel and T. Linzert. ECB Working Paper No. 635.
  Abstract.  Download.

Curriculum vitae

Short biography

Current position: Economist, Federal Reserve Bank of Philadelphia, Research Department (since August 2008).

Previous position: Economist, European Central Bank, Monetary Policy Strategy Division (Sep. 2006 - Jul. 2008).

Education:

• Doctorate in Economics (summa cum laude) ,
  October 2001 - July 2006, Goethe University Frankfurt, Germany. Graduate Program "Finance and Monetary Economics".
  Supervisor: Prof. Volker Wieland. Committee members: Prof. Dirk Krueger, Prof. Christian Schlag, Prof. Dieter Nautz.
  Thesis title: "The Role of Labor Markets in Monetary DSGE Models and Robust Monetary Policy".
   
• M.Sc. Financial Economics and Econometrics (with distinction),
  October 2000 - September 2001: University of Essex, UK.
  Thesis title: "On the Estimation of Tail-related Risk Measures".
   
• Student of Economics,
  April 1999 - September 2000: University of Kiel and University of Bonn, Germany.
  October 1997 - March 1999: Vordiplom (B.S. Economics) University of Kiel, grade 1.0 (scale from 0.7-5.0).

Previous employment and professional experience:

• 11/04 - 08/06: Research and teaching assistant (3rd year and Ph.D. macroeconomics). Goethe University Frankfurt.
• 01/05 - 06/05: Research visitor. Deutsche Bundesbank.
• 12/02 - 03/03: Intern, Graduate Research Program, European Central Bank.
• 10/98 - 07/00: University of Kiel. Student teaching assistant.

Presentations in 2009

• Workshop ``Ensuring Economic and Employment Stability,'' Kiel Institute, Program.
   
• Midwest Macroeconomics Meetings, Indiana University, Bloomington, Program.
   
• North American Summer Meetings of the Econometric Society, Boston, Program.
   
• Computing in Economics and Finance, Sidney, Program.
   
• EEA-ESEM, Barcelona. Program.
   

Presentations in 2008

• The Oslo Conference on "Monetary Policy and the Labour Market". Program.
   
• European Summer Symposium in International Macroeconomics. Program.
   
• 4th Annual Dynare Conference, Federal Reserve Bank of Boston. Program.
   
• System Conference on Macroeconomics, Federal Reserve Bank of Kansas City. Program.
   
• New York/Philadelphia Workshop on Quantitative Macroeconomics. Program.
   

Presentations in 2007

• Carnegie Rochester Conference "Labor Markets, Macroeconomic Fluctuations, and Monetary Policy". Program.
   
• Goethe University Frankfurt, University of Mannheim.
   
• Annual Meeting of the Verein fuer Socialpolitik, Munich. Link.
   
• International Conference "New Challenges in Economic Research", Université catholique de Louvain, Belgium. Program.
   
• Annual Congress of the European Economic Association, Central European University, Budapest. Link.
   
• "Using Economic Models to Make Policy Recommendations", Conference by the Urrutia Elejalde Foundation, San Sebastian, Spain. Program.
   
• North American Summer Meetings of the Econometric Society, Duke University. Link.
   
• Meeting of the Wage Dynamics Network at Czech National Bank, Prague.
   

Presentations in 2006

• International Research Forum on Monetary Policy, Federal Reserve Board, Washington D.C. Program.
   
• European Economic Association, Vienna.
   
• Society for Economic Dynamics, Vancouver.
   
• Society for Computational Economics, Limassol, Cyprus.
   

Links

• Federal Reserve Bank of Philadelphia.
• European Central Bank.
• Deutsche Bundesbank.

 
• Department of Money and Macroeconomics at Goethe University Frankfurt.
• Chair for Monetary Theory and Policy at Goethe University Frankfurt.

 
• University of Essex.
• University of Kiel.
• University of Bonn.