Monetary Economics, Macroeconomics, Applied Econometrics.

Curriculum vitae

Publications

• 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. Abstract.   Published version.

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

• Insurance Policies for Monetary Policy for the Euro Area (2010), with V. Wieland.
  Journal of the European Economic Association, 8(4), p. 872-912. Abstract,   Published Version,   Philadelphia Fed Working Paper 08-29.

• 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. Abstract,   Published Version,   Philadelphia Fed Working Paper 09-01.

• The Elasticity of the Unemployment Rate with respect to Benefits (2009), with K. Christoffel.
  Economics Letters, 102(2), p. 102-105. Abstract,   Published Version,   Philadelphia Fed Working Paper 08-15.

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

• 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.

• 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 and work in progress

• Optimal Labor-Market Policy in Recessions (2011),
  with Philip Jung.
  Philadelphia Fed Working Paper 11-48.
  Abstract.   Download.

• Fiscal Volatility Shocks and Economic Activity (2011),
  with Jesús Fernández-Villaverde, Pablo A. Guerrón-Quintana, and Juan Rubio-Ramírez,
  NBER Working Paper 17317.
  Abstract.   Download.

• Sovereign Risk and the Effects of Fiscal Retrenchment in Deep Recessions (2011) ,
  with Giancarlo Corsetti, André Meier, and Gernot Mueller,
  Philadelphia Fed Working Paper 11-43.
  Abstract.   Download.

• Floats, Pegs and the Transmission of Fiscal Policy (2011) ,
  with Giancarlo Corsetti and Gernot Mueller,
  Philadelphia Fed Working Paper 11-9.
  Abstract.   Download.

• 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,
  Philadelphia Fed Working Paper 09-6.
  Abstract.   Download.