Research

Work in Progress and Working Papers

• Taming the Financial Cycle: Evidence from Countercyclical Capital Buffer Announcements

with Pia Hüttl and Gökhan Ider.

Work in Progress. 

• Dovish Coos and Hawkish Creek: Identifying ECB Communication Shocks and their Macroeconomic Effects 

Revise and resubmit at European Economic Review.

Earlier version: DIW Discussion Paper No. 2137 (September 2025).

• 📢Updated version External drivers of US Dollar Exchange Rates and the Convenience Yield

Earlier version: DIW Discussion Paper No. 2100 (December 2024)]. 

with Helmut Herwartz and Lasse Trienens.

Submitted.

Publications in Refereed Journals

• Monetary policy and mispricing in stock markets 

Journal of Money, Credit and Banking, 2024, Volume 56(7), pp.1887-1907 

with Benjamin Beckers

• The term structure of currency futures’ risk premia

Journal of Money, Credit and Banking, 2022, Volume 54(1), pp. 5-38 

with Casper G. de Vries and Jürgen von Hagen

• Exchange Rates, Foreign Currency Exposure and Sovereign Risk

Journal of International Money and Finance, 2021, Volume 117, 

with Helmut Herwartz

• The cyclicality of automatic and discretionary fiscal policy: What can real time data tell us?

Macroeconomic Dynamics, 2015, Volume 19(1), pp. 221-243 

with Andrew Hughes Hallett and John Lewis

• The macro-determinants of private equity investment

Applied Economics, 2014, Volume 46(11), pp. 1170-1183

with Roberta Colavecchio

• Sovereign risk premiums in the European government bond market

Journal of International Money and Finance, 2012, Volume 31(5), pp. 975-995 

with Jürgen von Hagen and Ludger Schuknecht

• Sovereign bond yield spreads: A time-varying coefficient approach

Journal of International Money and Finance, 2012, Volume 31(3), pp. 639-659

with Burcu Erdogan

• Forecasting the fragility of the banking and insurance sectors

Journal of Banking and Finance, 2011, Volume 35(4), pp. 807-818 

with Andreas Pick

• Fool the markets? Creative accounting, fiscal transparency and sovereign risk premia

Scottish Journal of Political Economy, 2008, Volume 55, pp. 465-487 

with Guntram B. Wolff

• Euribor futures market: Efficiency and the impact of ECB policy announcements

International Finance, 2004, Volume 7, pp. 1-24 

with Jürgen von Hagen

Other Publications 

• Selective Bond Purchases - May the ECB Chose Winners and Losers? 

The Economists' Voice, 2023

with Sara Dietz

• Die EZB-Geldpolitik in der Zwickmühle

Wirtschaftsdienst, 2022, Volume 6, pp. 423-425

with Marcel Fratzscher

• Reageren consumenten anders op vermogensverliezen dan op winsten?

Tijdschrift voor Politieke Ekonomie, 2006, Volume 27, pp. 114-131 

with Robert-Paul Berben and Mauro Mastrogiacomo

• Zinsspreads auf europäische Staatsanleihen: Implikationen und Lehren aus der europäischen Schuldenkrise

Vierteljahreshefte zur Wirtschaftsforschung, 2010, 79 (4), pp. 103-118. 

• “Confidence, happiness and the financial situation of households”

DNB Quarterly Bulletin, September 2005, pp. 59-71.