Economic Policy

Briefing Papers as member of the Monetary Policy Expert Panel of the European Parliament: 

In-Depth Analyses at request of the Committee on Economic and Monetary Affairs (ECON) of the European Parliament ahead of the Monetary Dialogue with the ECB President: 

• "ECB Communication and Policy Responses: Being Effective in an Era of Disinflation and Economic Policy Uncertainty"

March 2025.

• “ECB Monetary Policy: Past, Present and Future”

February 2024 

with Sara Dietz, Rosa Lastra and Atanas Pekanov

• “Monetary-Fiscal Interaction – Achieving the Right Monetary-Fiscal Policy Mix in the Euro Area”

September 2023

with Sara Dietz, Rosa Lastra and Marie Rullière

• “The ECB’s Transmission Protection Instrument: A Legal & Economic Analysis”

September 2022 

with Sara Dietz, Gökhan Ider and Rosa Lastra

• “Inflation on the Upswing – Just a Hiccup or the Trend Reversal after all?”

September 2021 

with Gökhan Ider

• “The ECB’s Communication Strategy: Limits and Challenges After the Financial Crisis”

February 2020 

with Geraldine Dany-Knedlik

• "Happy Birthday? The Euro at 20"

January 2019 

with Franziska Bremus, Geraldine Dany-Knedlik, Henrik Enderlein, Marcel Fratzscher, Lukas Guttenberg, Alexander Kriwoluzky, Rosa Lastra

• “Negative Interest Rates and the Signalling Channel”

September 2018

with Alexander Haas

• “Monetary Policy Implications of Financial Innovation: In-Depth Analysis”

June 2017

with Stefan Gebauer and Dorothea Schäfer

• “Implications for the Euro Area of Divergent Monetary Policy Stances by the Fed and the ECB – The Role of Financial Spillovers”

February 2016

with Philipp König

• “Quantitative Easing – What are the Side Effects on Income and Wealth Distribution”

June 2015

with Philipp König, Caterina, Benjamin Beckers and Forti Grazzini

DIW Publications:

• "Analyzing ECB Communication Improves Forecasting of Interest Rate Decisions"

DIW Weekly Report 16/17/2025, pp. 99-105.

• "Analyse der EZB-Kommunikation verbessert Prognose von Zinsentscheidungen"

DIW Wochenbericht 16/17/2025, S. 237-244.

• "25 Jahre Euro: Viele Krisen gemeistert, viele Herausforderungen stehen an"

DIW Wochenbericht 11/2024, pp. 167-174

with Sara Dietz, Rosa Lastra und Atanas Pekanov

• "US Inflation Reduction Act Demands Quick Strategic Action from the EU"

DIW Weekly Report 6/2023, pp. 53-60

with Josefin Meyer

• "US-Investitionspaket Inflation Reduction Act erfordert schnelles strategisches Handeln der EU"

DIW Wochenbericht 6/2023, S. 59-67

mit Josefin Meyer

• “Activation of new ECB emergency program TPI has not yet been required”

DIW Weekly Report 40/2022, pp. 250-256

with Sara Dietz, Gökhan Ider and Rosa Lastra

• “Einsatz des neuen EZB-Notfallprogramms TPI bisher nicht erforderlich”

DIW Wochenbericht 40/2022, S. 512-519

with Sara Dietz, Gökhan Ider and Rosa Lastra

• „Inflation im Euroraum: Faktoren wirken meist nur temporär, aber Risiko für länger erhöhte Inflation vorhanden”

DIW Wochenbericht 42 /2021, S. 695-704

with Gökhan Ider

• “Inflation in the Euro Area: Factors Mostly Have Only a Temporary Effect, but Risk of Prolonged Elevated Inflation Remains”

DIW Weekly Report 41/42 /2021, pp. 315-323

with Gökhan Ider

• “The Eurosystem's Agreement on Net Financial Assets (ANFA): Covert Monetary Financing or Legitimate Portfolio Management?“

DIW Economic Bulletin 12/13/2016, pp. 141-150

with Philipp König

• “Verdeckte Staatsfinnzierung oder erlaubte Portfoliosteuerung? Das ANFA-Abkommen des Eurosystems”

DIW Wochenbericht 12/13/2016, pp. 243-253

with Philipp König

• “ECB Asset Purchases May Affect Wealth Distribution”

DIW Economic Bulletin 7/2016, pp. 75-81

with Benjamin Beckers and Philipp König

• “EZB-Anleihekäufe können Vermögensverteilung beeinflussen“

DIW Wochenbericht 7/2016, pp. 127-134 

with Benjamin Beckers and Philipp König

• “Central Bank Asset Puchases I: The Theory”

DIW Roundup 60/2015 

with Carolin Raab, and Philipp König.

• „Large-Scale Asset Purchases by Central Banks II: Empirical Evidence”

DIW Roundup 61/2015

with Philipp König, Carolin Raab

• „Unchartered Territory: Large-Scale Asset Purchases by the European Central Bank”

DIW Economic Bulletin 13 / 2015, pp. 189-198

with Philipp König, Carolin Raab, Marcel Fratzscher

• „Unbekanntes Terrain: Anleihekäufe der Europäischen Zentralbank“

DIW Wochenbericht 13/2015, pp. 307-316

with Philipp König, Carolin Raab and Marcel Fratzscher

• “Fiscal Devaluation: Economic Stimulus for Crisis Countries in the Euro Area”

DIW Economic Bulletin 10 / 2014, pp. 12-18

with Patrick Burauel and Philipp Engler

• „Fiskalische Abwertung: wirtschaftlicher Impuls für die Krisenländer im Euroraum“

DIW Wochenbericht 39/2014, pp. 916-922

with Patrick Burauel and Philipp Engler

• „Inflationserwartungen im Euroraum sind nicht mehr fest verankert: neue Maßnahmen der EZB-Geldpolitik“

DIW Wochenbericht 27/2014, pp. 856-867 

with Marcel Fratzscher, Philipp König und Klara Rabe

• “Weak Inflation and Threat of Deflation in the Euro Area: Limits of Conventional Monetary Policy“

DIW Economic Bulletin 5 / 2014

with Marcel Fratzscher, Philipp König)

• “More Growth through Higher Investment”

DIW Economic Bulletin 8/2013, pp. 5-16

with Stefan Bach, Guido Baldi, Björn Bremer, Beatrice Farkas, Ferdinand Fichtner, Marcel Fratzscher, Martin Gornig

• „Wege zu einem höheren Wachstumspfad“

DIW Wochenbericht 26/2013, pp.6-17

with Stefan Bach, Guido Baldi, Björn Bremer, Beatrice Farkas, Ferdinand Fichtner, Marcel Fratzscher, Martin Gornig

• “A Transfer Mechanism as a Stabilization Tool in the EMU“

DIW Economic Bulletin 1/2013, pp. 3-8

with Philipp Engler

• “Konjunkturelle Ausgleichszahlungen als Stabilisierungsinstrument in der Europäischen Währungsunion“

DIW Wochenbericht 44/2012, pp. 3-8

with Philipp Engler

• „"Grüne" Investitionen in einem europäischen Wachstumspaket“

DIW Wochenbericht 25/2012, pp. 3-9 

with Thomas Spencer, Lucas Chancel, Emmanuel Guérin, Karsten Neuhoff

• “The future of the international monetary system“

DIW Economic Bulletin 1(4), 2011, pp. 11-17 

with Ansgar Belke and Ferdinand Fichtner

• „Die Zukunft des internationalen Währungssystems“

DIW Wochenbericht 37/38/2011, pp. 11-18 

with Ansgar Belke and Ferdinand Fichtner

• „Entwicklung der Erdölmärkte: Reservekapazität im Nahen Osten wirkt derzeit stabilisierend“

DIW Wochenbericht 21/2011, pp. 3-9 

with Aleksandar Zaklan, Daniel Huppmann, Claudia Kemfert, Christian von Hirschhausen

• „Zinsspreads auf europäische Anleihen: Finanzmärkte verstärken Druck zu mehr Haushaltsdisziplin“

DIW Wochenbericht 39/2010, pp. 12-18

with Burcu Erdogan