DIW Berlin – German Institute for Economic Research, since 2013
President. One of the leading, independent European research institutes and think tanks. Key tasks of research, policy advice, and own PhD program; 250 employees.
Humboldt-University Berlin, since 2013
Professor for Macroeconomics and Finance
European Central Bank, Frankfurt, Germany, 2001 - 2012
Head of Division (2008-12), International Policy Analysis Division: global systemic economic and financial issues, emerging markets and financial architecture.
Senior Adviser (2006-08) and Adviser (2004-06), DG-International: global real, financial and FX issues; coordination of research on intern’l macro & finance.
Senior Economist , and Economist (2001-04), DG-Economics: global monetary & financial issues, financial stability, capital flows and B.o.P.
Goethe University , Frankfurt, Germany, 2006-10
teaching “International Finance”, Ph.D. program in Economics.
Peterson Institute for International Economics, Washington DC, USA, 2000-01
Visiting fellow. Global economic linkages, exchange rate regimes, and the euro
Harvard Institute for International Development (HIID), Jakarta, Indonesia, 1996 - 98
Macroeconomic Policy Analyst : Economic advisory work for two senior Presidential Advisors and for the Minister of Finance; areas of responsibility: exchange rates, foreign debt, and balance of payments issues.
The World Bank, Washington DC, USA, 1996
Consultant, Asia Operations Department – China: work on migration, structural reforms and regional distribution in China.
Mwaniki Associates Consultants, Nairobi, Kenya (1995); Consultant.
The World Bank, USA (1994): Public Economics Division – WDR 1995.
Asian Development Bank, Manila, Philippines (1993): Private Sector Development
European University Institute, Florence, Italy
Ph.D. in Economics , June 2002. Advisors: M. Artis, S. Johansen, R. Perotti, A. Rose, A. Weber. Fields of specialization: international macroeconomics, international finance, applied econometrics, development economics.
Harvard University, John F. Kennedy School of Government, Cambridge, USA
Master of Public Policy (MPP), June 1996. Focus in labor and international economics. PBRC Award for Master’s Thesis.
University of Oxford, Trinity College, England
B.A. Philosophy, Politics, and Economics (PPE), May 1994. Moral philosophy and political philosophy, intern'l economics. 1993 Trinity Award for Meritorious Work.
Kiel University, Germany.
Vordiplom degree in Economics, May 1992. ASP in International Economic Policy, May 1998.
Stages of life
Recent and Ongoing Research
Bubble Thy Neighbor: Portfolio Effects and Externalities from Capital Controls , (with K. Forbes, T. Kostka and R. Straub), NBER Working Paper No. 18052, May 2012.
Oil Prices, Exchange Rates and Asset Prices, (with D. Schneider and I. Van Robays), mimeo December 2012.
A global monetary tsunami? On the spillovers of US Quantitative Easing, ( with M. Lo Duca and R. Straub), CEPR Discussion Paper No. 9195, October 2012.
The Pricing of Sovereign Risk and Contagion during the European Sovereign Debt Crisis , (with J. Beirne), mimeo April 2012.
Inflation Targeting After the 2007/08 Financial Crisis , (with A. Amzallag and S. Bashir), work in progress.
The Scapegoat Theory of Exchange Rates: The First Tests , (with L. Sarno & G. Zinna), CEPR No. Discussion Paper 8812, February 2012.
Capital controls and foreign exchange policy , prepared for the conference volume (ed. Carmen Reinhart) of the 15th Annual Conference of the Banco Central de Chile on “Capital Mobility and Monetary Policy”, CEPR Discussion Paper No. 8788, January 2012.
China's dominance hypothesis and the emergence of a tri-polar global currency system , (with A. Mehl), CEPR Discussion Paper 8671, November 2011.
Liquidity, Risk and the Global Transmission of the 2007-08 Financial Crisis and the 2010-11 Sovereign Debt Crisis (with A. Chudik), CEPR Discussion Paper No. 8787, January 2012.
Confidence and the global economy , (with M. Ehrmann), work in progress.
Monetary Policy Shocks and Portfolio Choice , (with C. Saborowski and R. Straub), CEPR Discussion Paper 8099, November 2010.
Papers under Revision at Academic Journals
Liquidity, Risk and the Global Transmission of the 2007-08 Financial Crisis and the 2010-11 Sovereign Debt Crisis (with A. Chudik), CEPR Discussion Paper No. 8787, revise and resubmit Journal of Applied Econometrics .
Publications in Academic Journals
Capital Flows, Push versus Pull Factors and the Global Financial Crisis , NBER-Sloan project on the Global Financial Crisis, forthcoming Journal of International Economics .
Central bank communication and financial stability , (with B. Born and M. Ehrmann), CEPR Discussion Paper No. 8094, March 2011, forthcoming Economic Journal .
Politics and Monetary Policy (with M. Ehrmann), Review of Economics and Statistics . 93(3): 941-960.
Asset Prices, News Shocks and the Current Account , (with R. Straub), forthcoming Journal of Money, Credit and Banking .
130 Years of Fiscal Vulnerabilities and Currency Crashes in Advanced Economies , (with A. Mehl and I. Vansteenkiste), IMF Economic Review . 59(4): 683-716, December 2011.
Identifying the Global Transmission of the 2007-09 Financial Crisis in a GVAR Model (with A. Chudik), European Economic Review . 55(3), 325-339, April 2011.
Monetary policy in the media (with H. Berger and M. Ehrmann), Journal of Money, Credit and Banking 43(4), 689–709, June 2011.
Convergence and anchoring of yield curves in the euro area (with M. Ehrmann, R. Gürkaynak and E. Swanson), Review of Economics and Statistics February 2011, 93(1): 350–364, Feb 2011.
Asset prices, exchange rates and the current account (with L. Juvenal and L. Sarno), European Economic Review 54, 643–658, June 2010.
The role of central bank transparency for guiding private sector forecasts (with M. Ehrmann and S. Eijffinger), CEPR DP No. 7585, forthcoming Scandinavian Journal of Economics .
Communicating about macroprudential supervision - a new challenge for central banks, ( with B. Born and M. Ehrmann), forthcoming International Finance .
How successful is the G7 in managing exchange rates? Journal of International Economics 79(1): 78-88, September 2009.
IMF Surveillance and Financial Markets – A Political Economy Analysis (with J. Reynaud), European Journal of Political Economy 27: 405–422, September 2011.
Global financial transmission of monetary policy shocks (with M. Ehrmann), Oxford Bulletin of Economics and Statistics 71(6), 739-60, December 2009.
Risk sharing, finance and institutions in international portfolios (with J. Imbs), Journal of Financial Economics 94: 428–447, December 2009.
Stocks, bonds, money markets and exchange rates: Measuring international financial transmission (with M. Ehrmann & R. Rigobon), NBER Working Paper 11166, forthcoming Journal of Applied Econometrics .
What Explains Global Exchange Rate Movements During the Financial Crisis? Journal of International Money and Finance 28: 1390–1407, December 2009.
Geography or skills: What explains Fed watchers’ forecast accuracy of US monetary policy? (with H. Berger and M. Ehrmann), Journal of Macroeconomics 33(3), 420-437, September 2011.
Forecasting ECB monetary policy: accuracy is (still) a matter of geography (with H. Berger and M. Ehrmann), European Economic Review 53(8): 1028-1041, November 2009.
Do China and oil exporters influence major currency configurations? , (with A. Mehl), Journal of Comparative Economics 37, 335–358, September 2009.
Purdah – On the Rationale for Central Bank Silence Around Policy Meetings (with M. Ehrmann), Journal of Money, Credit and Banking , 41(2–3), 517-27, April 2009.
Central bank communication and monetary policy: A survey of the evidence (with Alan Blinder, M. Ehrmann, J. de Haan, D.-J. Jansen), Journal of Economic Literature XLVI(4), 910-45, December 2008.
The political economy under monetary union: Has the euro made a difference? (with L. Stracca), Economic Policy 58 307-48, April 2009.
Productivity shocks, budget deficits and the current account , (with M. Bussiere and G. Mueller), Journal of International Money and Finance 29(8): 1562-1579, July 2010.
Does it pay to have the euro? Italy’s troubled politics and financial markets under the lira and the euro (with L. Stracca), International Finance 12:1, 1–31, 2009.
Asset prices and current account fluctuations in G7 countries, (with R. Straub), IMF Staff Papers 56(3), 633-54, June 2009.
The transmission of emerging market shocks to global equity markets (with L. Cuadro and C. Thimann), Journal of Empirical Finance 16(1): 2-17, January 2009.
Communication and exchange rate policy , Journal of Macroeconomics 30(4), 1651-1672, December 2008.
Explaining monetary policy decisions in a press conference International Journal of Central Banking 5(2): 41-84, June 2009. (with M. Ehrmann),
The pecking order of cross-border investment , (with C. Daude) Journal of International Economics 74(1), 94-119, January 2008.
US shocks and global exchange rate configurations , Economic Policy (54), 363–409, April 2008.
Oral interventions versus actual interventions in FX markets – An event-study approach , Economic Journal , 118, 1–28, July 2008.
Communication and decision-making by central bank committees: different strategies, same effectiveness? (with M. Ehrmann), Journal of Money, Credit and Banking 39(2–3): 509-41, March-April 2007.
Transparency, disclosure and the Federal Reserve (with M. Ehrmann), International Journal of Central Banking 3(1): 179-225, March 2007.
Financial globalization and integration (with P. Hartmann), special issue, Journal of International Money and Finance 26: 495-99, June 2007.
Home bias in global bond and equity markets: the role of real exchange rate volatility (with M. Fidora and C. Thimann), Journal of International Money and Finance 26: 631-55, June 2007.
The timing of central bank communication , (with M. Ehrmann) European Journal of Political Economy 23(1): 124-145, March 2007.
Low probability, high impact: policy making and extreme events (with M. Bussiere), Journal of Policy Modeling 30: 111–121, 2008.
Capital account liberalisation, uncertainty and debt structure , (with M. Bussiere and W. Koeniger), The B.E. Journals in Macroeconomics Vol. 6 (1): Article 5, March 2006.
On the long-term effectiveness of exchange rate communication and interventions , Journal of International Money and Finance 25(1): 146-67, February 2006.
Current account dynamics in OECD and new EU member states: An intertemporal approach (with M. Bussiere and G. Mueller) Journal of Economic Integration 21(3): 593-618, September 2006.
Financial openness and growth: short-run gain, long-run pain? (with M. Bussiere), Review of International Economics 16(1), 69–95, 2008.
Strategies of exchange rate policy in G3 economies , Economics Letters 89(1): 68-74, October 2005.
Equal size, equal role? Interest rate interdependence between the euro area and the United States (with M. Ehrmann) Economic Journal 115: 930-50, October 2005.
Exchange rates and fundamentals: new evidence from real-time data , (with M. Ehrmann), Journal of International Money and Finance 24: 317-41, March 2005.
Taking stock: Monetary policy transmission to equity markets , (with M. Ehrmann) Journal of Money, Credit and Banking 36(4): 719-37, August 2004.
Towards a new Early Warning System of financial crises , (with M. Bussiere) Journal of International Money and Finance 25(6): 953-973, October 2006.
Monetary policy announcements and money markets: A transatlantic perspective , (with M. Ehrmann), International Finance 6(3): 309-28, Winter 2003-04.
European Integration: What lessons for other regions? The case of Latin America , (with E. Dorrucci, S. Firpo, and F. Mongelli) Open Economies Review 15: 239-269, July 2004.
On Currency Crises and Contagion , International Journal of Finance and Economics 8(2): 109-30, April 2003.
The Interaction between Institutional and Economic Integration at the Regional Level , (with E. Dorrucci, S. Firpo, F. Mongelli), Journal of Economic Integration 20(2): 217-51, June 2005.
Financial Market Integration in Europe: On the Effects of EMU on Stock Markets , International Journal of Finance and Economics 7(3): 165-194, July 2002.
Why are Currency Crises Contagious? A Comparison of the Latin American Crisis of 1994-95 and the Asian Crisis of 1997 , Weltwirtschaftliches Archiv/Review of World Economics 134(4), December 1998.
Publications in Books, Book Reviews and Others
Global crises and equity market contagion (with G. Bekaert, M. Ehrmann & A. Mehl), VOX EU August 2011 (http://voxeu.org/index.php?q=node/6858 )
Official Interventions in the Foreign Exchange Market , In: J. James, I. Marsh and L. Sarno (eds.), The Handbook of Exchange Rates .
Macroprudential supervision: Can central bank communication be an effective policy tool? (with B. Born and M. Ehrmann), VOX, 29 November 2010.
How Should Central Banks Deal with a Financial Stability Objective? The Evolving Role of Communication as a Policy Instrument, (w B. Born & M. Ehrmann), In: Eijffinger-Masciandaro (eds.): Central Banking, Financial Regulation and Supervision after the Financial Crisis.
Central bank communication (with M. Ehrmann), contribution to The Palgrave Dictionary of Economics .
How should central banks communicate? (with M. Ehrmann), "Designing a Central Bank Communication Strategy", in: D. Mayes and G. Wood (eds.), Designing Central Banks , Routledge, 2009, 170-192.
What we know and what we would like to know about central bank communication , (with Alan Blinder, M. Ehrmann, J. de Haan, D.-J. Jansen) VOX, 15 May 2008, available at http://www.voxeu.org/index.php?q=node/1143
EMU has led to increased stability and convergence of financial markets in euro area , (with M. Ehrmann, R. Gürkaynak and E. Swanson) VOX, 17 September 2007, available at http://www.voxeu.org/index.php?q=node/554
Designing a Central Bank Communication Strategy (with M. Ehrmann), Bundesbank conference volume on Designing Central Banks.
The Impact of Exchange Rate Interventions and Communication over the Medium-Term , in: K. Liebscher (Governor Austrian National Central Bank) et al.: Currency and Competitiveness in Europe.
Forecasting European Central Bank Monetary Policy (with H. Berger and M. Ehrmann), IMF Survey, 35(13), July 2006.
Exchange-rate regimes and debt-maturity structure (with M. Bussiere and W. Koeniger), International Monetary Fund: 60 Years After Bretton Woods, IMF volume of international symposium of June 2004.
Monetary Policy and Macroeconomic Stabilization in Latin America: A Comment , in R. Langhammer and L. Vinhas de Souza (Eds.), Berlin and New York: Springer, 2005.
Exchange rate policy strategies in G3 economies . In. C. Fred Bergsten, John Williamson (eds.): Dollar adjustment: How far? Against what? Volume of conference proceedings, Institute for International Economics, Washington, D.C., 2004.
The Euro Bloc, the Dollar Bloc, and the Yen Bloc: How much Monetary Policy Independence can Exchange Rate Flexibility Buy in an Interdependent World? In: ECLAC (Ed.): Towards Regional Currency Areas, UN Economic Commission For Latin America and the Caribbean.
On the Causes of the Latin American and Asian Currency Crises of the 1990s , in E. Bour, D. Heymann, F. Navajas (Eds.): Latin American Economic Crises: Trade and Labour. New York: Palgrave Macmillan, 2004: pp. 58-80.
Identifying the role of contagion in currency crises with Markov-switching models. In: M. Frenkel, A. Karmann and B. Scholtens (eds.): Sovereign Risk and Financial Crises. Springer Verlag, Berlin, 2004
What lessons for Latin America from European integration? (with E. Dorrucci, S. Firpo, and F. Mongelli), In: P. van der Haegen and J. Vinals (eds.): Regional Integration in Europe and Latin America: Monetary and Financial Aspects. Ashgate Publishers, 2003.
Review of “The Asian Financial Crisis. Causes, Contagion and Consequences” , by P.R. Agenor, M. Miller, D. Vines, A. Weber. Weltwirtschaftliches Archiv, Vol. 136 No.4, 2000.
Organisation of academic conferences and conference sessions:
Co-organiser (with Hertie School and Munich University) on “Global sovereign risk”, Frankfurt, 22-23 June 2012.
Co-organiser (with Federal Reserve Board and Fed New York) of regular biannual Global Research Forum (GRF) on International Macroeconomics and Finance, 17-18 December 2012.
Co-organiser (with Norges Bank) on “Monetary Policy and Commodity Prices" on 19-20 November 2012.
Organiser of ECB roundtable workshop on “The Euro Area Sovereign Debt Crisis and the International Monetary System”, European Central Bank, Frankfurt, 14 June 2012.
Organiser of ECB-BIS international conference on “Global liquidity”, Frankfurt, 6-7 February 2012.
AEA Annual Meetings 2012, organisation of session on “International capital allocation, portfolio choice and capital flows”, Chicago, January 2012.
Organiser of ECB-Bundesbank Emerging market workshop, Frankfurt, 1-2 December 2011.
Organiser of ECB roundtable workshop on “Global liquidity and the international monetary system”, European Central Bank, Frankfurt, 1 September 2011.
AEA Annual Meetings 2011, organisation of session on “Exchange rate modelling”, Denver, January 2011.
Organiser of ECB roundtable workshop on “The Emergence of a New Global Economic Order after the Crisis – Challenges for Europe”, European Central Bank, Frankfurt, 15 November 2010.
Organiser of ECB-Journal of International Economics conference on “What Future for Financial Globalisation?”, European Central Bank, Frankfurt, 9-10 September 2010.
Organiser of workshop on "A Global Dimension on Early Warning Models and Macroprudential Analysis", European Central Bank, Frankfurt, 17 June 2010.
AEA Annual Meetings 2010, organisation of session on “Challenges faced by central bank communication”, Atlanta, January 2010.
AEA Annual Meetings 2010, organisation of session on “Challenges faced by central bank communication”, Atlanta, January 2010.
Organiser of ECB roundtable workshop on “Reform of the International Financial Architecture – A European Perspective”, European Central Bank, Frankfurt, September 2009.
AEA Annual Meetings 2009, organisation of and paper presentations in session on “Financial market developments and global implications after 10 years of the euro”, San Francisco, January 2009.
Organiser of ECB conference on “Global Financial Linkages, Transmission of Shocks and Asset Prices”, European Central Bank, Frankfurt, December 2008.
AEA Annual Meetings 2008, organisation of and paper presentations in session on “Monetary policy transparency and communication”, New Orleans, January 2008.
Organiser of ECB roundtable workshop on “Global Imbalances and Financial Linakges – Challenges for Economic Policy”, European Central Bank, Frankfurt, January 2008.
AEA Annual Meetings 2007, organisation of and paper presentations in two sessions on “Current account imbalances” and “Financial globalisation & integration”, Chicago, January 2007.
Organiser of ECB conference (joint with JIMF) on “Financial globalisation and integration”, European Central Bank, Frankfurt, July 2006.
AEA Annual Meetings 2006, organisation of and paper presentations in two sessions on “Central bank transparency” and “Monetary policy and asset prices”, Boston, January 2006.
AEA Annual Meetings 2005, organisation of and paper presentations in two sessions on “Central bank communication” and “Global current account positions”, Philadelphia, January 2005.
· Representation of the ECB at several international policy fora, including the G20 (various working groups), Asian Development Bank, UN Commission for Latin America, Bank of England, IMF, Bank of Japan, Banco de Mexico, BIS , Federal Reserve Board, People’s Bank of China, Bank of Canada, Czech National Bank, Bank of Finland, Hong Kong Monetary Authority, Bundesbank, German Federal Ministries: Finance; Economy; Economic Cooperation & Development; KfW, World Economic Forum/Chatham House, various private sector workshops and events.
· Panel on Sustainable Finance, at World Bank-GIZ workshop on WDR 2014, Berlin, 12 December 2012.
· Panel on Global implications of monetary policy at IADB Network of Central Banks and Finance Ministries, Washington DC, 19-20 November 2012.
· Keynote lecture and panel at GIZ-BMZ-DIE workshop on “Turbulente Weltwirtschaft und instabile Finanzmärkte”, Bad Honnef, 20 August 2012.
· Panellist on European sovereign debt crisis at FLAR-IMF high-level seminar on “Financial Regionalism and Macroeconomic Stability”, Cartagena de Indias , Colombia , 6-7 July 2012.
· Invited speaker at Annual Conference of Central Bank of Chile , Santiago de Chile, 17-18 November 2011.
· Panel speaker on “Liquidity, Leverage and Capital Flows” at NBER – Sloan Foundation event at The National Press Club, Washington DC , 22 September 2011 .
· Panel speaker on “Managing Global Capital Flows” at JP Morgan Global Investor annual meeting Washington DC , 23 September 2011 .
· Panellist on global financial stability risks at FLAR-IMF high-level seminar on “Challenges for Macroeconomic Policy in Emerging and Developing Economies” Cartagena de Indias , Colombia , 22-23 July 2011.
· Panellist on international policy coordination at Tsinghua-Columbia 2011 Workshop on the Reform of the International Financial Architecture, Beijing, China, 26-28 June 2011.
· Panel speaker GIZ – ADB at launch of Asian Development Outlook 2011, Berlin , 13 April 2011 .
· German Ministry of Economy, Advisory Council, presentation on intra- and extra-EU imbalances, Berlin , 3 February 2011 .
· German Ministry of Finance – CESifo – Bruegel workshop on European sovereign debt crisis, Berlin , 25 January 2011 .
· Speaker Bruegel/CEPII workshop on the reform of the international monetary system, Paris , 7 December 2010 .
· Panellist at EU-India high-level dialogue on financial integration, Mumbai, 20 September 2010 .
· Panellist CEPII/Bruegel/ADB/IMF conference on “International Cooperation in Times of Global Crisis: Views from G20 Countries”, New Delhi , 16-17 September 2010.
· Panel speaker at International Dialogue Forum "Strengthening Cooperation to Foster Global Growth and Sustainable Development" DIW-Ministry of Development, Berlin , 5-6 July 2010.
· Panel speaker on “Global imbalances”, Bundesbank Spring Conference on “Global risk sharing”, Eltville, 28-29 May 2010.
· Panel speaker EU Commission ECFIN workshop on “Resilience of EME economies”, Brussels , 17 May 2010 .
· Fed San Francisco Asia Economic Policy conference, Santa Barbara , October 2009.
· Panel Member InWent conference on “Global Financial Governance - Challenges and Regional Responses”, Berlin , September 2009
· Panel Member, International Policy-Dialogue: “The Global Financial Crisis and International Financial Institutions: Governance Perspectives for Developing Countries,” UN Stiglitz Commission, Federal Ministry for Ec. Cooperation and Develop. , Berlin , 8-9 March 2009.
· German Ministry of Finance – Institute of the World Economy meeting on “Global imbalances and monetary policy”, Berlin , Oct. 2008.
· Panel speaker OENB – CEEI conference on "Currency and Competitiveness", Vienna , 19-20 Nov. 2007
· Panel speaker Symposium in honour of Eugene Fama, discussion on “Market efficiency: A policy perspective”, Frankfurt , October 2005.
· Panelist on “The challenges of central bank communication” at “The ECB and Its Watchers VII ” conference, Frankfurt , June 2005.
· Panellist on "Dollar Adjustment: How far? Against what?", Peterson Institute for International Economics conference, Washington , D.C. , May 2004.
· Speaker at UN Conference on "Regional Currency Areas", Santiago , Chile , March 2002.
XV Workshop in International Economics and Finance, Barcelona; ifo conference on China, Munich; Bruegel workshop; DIW Berlin conjunctural workshop; GIZ Panel on European crisis; seminars at Franfurt School of Finance and Management; World Bank-Banco de Espana conference on “Debt and Credit, Growth and Crises”, Madrid; IMF-Central Bank of Turkey conference on "Policy Responses to Commodity Price Movements", Istanbul; UC Santa Cruz-Central Bank of Denmark conference on “The European Sovereign Debt Crisis: Background and Perspectives”, Copenhagen; IMF, Washington DC; Federal Reserve Board of Governors; MIT Sloan School of Management, Boston; German Economic Association Macroeconomics Committee meeting, Mainz; University of Bonn; NBER IFM Program Meeting, Boston; Peterson Institute of International Economics, Washington DC; German Economic Association Monetary Committee meeting, Frankfurt; 7th ECB-Fed Conference of the International Research Forum on Monetary Policy, Frankfurt; 7th CEPR Annual Workshop on Macroeconomics of Global Interdependence (MGI); Paris; AEA Annual Meetings 2012, Chicago.
Invited session on Reform of the International Monetary System at EEA Annual Meetings 2011 (Oslo, August 2011); Bank of England; Invited speaker on “The Economics of Recurring Financial Market Crises”, Viessmann European Research Centre, Wilfrid Laurier University, Canada); German Economic Association Annual Meeting 2011; Tsinghua-Columbia 2011 Workshop on International Economics and the Reform of the International Financial Architecture (Beijing, China); "What is Next? Monetary Policy and Financial Markets after the Crisis", conference (University of Navarra, Pamplona, Spain); Bank of Canada conference on “Exchange Rate Modelling”, Ottawa; Bretton Woods conference of NBER-Sloan project on the Global Financial Crisis; CEPR 6th workshop on the “Macroeconomics of Global Interdependence”, ECB-Banca d’Italia workshop on “Financial Determinants of Exchange Rates”, Rome; London; Mainz University; Tilburg University; AEA Annual Meetings 2011, Denver.
DG ECFIN, ULB and UBC conference on "Advances in international macroeconomics - Lessons from the crisis", Brussels; NBER Summer Institute IFM/NBER-Sloan project on the global financial crisis; Banco de Espana-World Bank conference on “Financial Globalization: Shifting Balances”, Madrid; Bundesbank Spring Conference on “Global risk sharing”, Eltville; Geneva Graduate Institute for International Studies; University of Hannover; 41st Konstanz Seminar in Monetary Theory and Practice; CEPR workshop on the “Macroeconomics of Global Interdependence”; CESifo area conference on Macro, Money and International Finance, Munich.
Forecast modelling workshop, Bank of Israel, Jerusalem; Banco de Espana – Bank of Finland Emerging Market workshop, Madrid; Tsinghua-Columbia 2009 Workshop on the Global Financial Crisis and the Reform of the International Financial Architecture, Beijing; Leceister University 2009 Annual Workshop in Finance; Warwick Business School – JIMF conference on “The Global Financial Crisis: Causes, Threats and Opportunities” Warwick; Fourth CEPR Annual Workshop on “Macroeconomics of Global Interdependence”, European University Institute, Florence; University of Warwick; University of Bayreuth; AEA Annual Meetings 2009, San Francisco.
“Global Financial Linkages, Transmission of Shocks and Asset Prices” conference, European Central Bank, Frankfurt; “Exchange rates” conference, IMF – Swiss National Bank, Zurich; “Alternative Models for Monetary Policy Analysis” conference, Swiss National Bank, Zurich; “Global Liquidity and East Asian Economies” conference, Hong Kong Monetary Authority, Hong Kong; “Contagion and Financial Stability” workshop, Banque de France, CREST, La fondation du risque, Paris; University of Zürich; Université Libre de Bruxelles; Free University of Berlin; University of Vigo; “Current Account Sustainability” conference, University of Wisconsin, Madison; AEA Annual Meetings 2008, New Orleans.
CEPR workshop on “International Adjustment”, Brussels; CEPR workshop on “Global Imbalances, Competitiveness and Emerging Markets”, Pretoria, South Africa; London School of Economics; NBER Summer Institute 2007, International Finance and Macro (IFM), Cambridge MA; Geneva Graduate Institute for International Studies; University of Frankfurt; Bank of Canada conference on “Exchange Rate Modelling”, Ottawa; AEA Annual Meetings 2007, Chicago.
BIS workshop on “Global financial stability”, Basel; “FX Interventions: Theory and Experience”, Cambridge, UK; “Vienna Workshop on International Capital Flows”, Vienna; “Current Account Sustainability” conference, University of Wisconsin, Madison; CEPR workshop on the “Macroeconomics of Global Interdependence”, Gerzensee; CESifo area conference on Macro, Money and International Finance, Munich; Free University of Berlin; Emerging markets conference, University of Navarra, Pamplona; AEA Annual Meetings 2006, Boston.
EFA Annual meetings, Moscow; NBER Summer Institute 2005, Workshop on Monetary Economics, Cambridge MA; “Workshop on Central Bank Policy Modelling”, University of Namur; International Research Forum on Monetary Policy, Federal Reserve-ECB-CFS-Georgetown University, Frankfurt; German Economic Society Conference 2005, Bonn; 9th International Conference on Macroeconomic Analysis and International Finance (Journal of International Money and Finance), Rethymno, Greece; JIMF-CRIF-TAFI conference on “Foreign Exchange Markets”, Puerto Rico; AEA Annual Meetings 2005, Philadelphia.
Fed New York Conference on “Financial Globalization”, New York, USA; IMF – ECB conference on “Global financial integration, stability and business cycles”, Frankfurt, Germany; IMF – Banco de España conference on "Dollars, Debt, and Deficits - 60 Years After Bretton Woods", Madrid, Spain; 8th International Conference on Macroeconomic Analysis and International Finance (Journal of International Money and Finance), Rethymno, Greece; Trinity College Dublin; German Economic Society Conference 2004.
Tobin conference by the JMCB – Fed Chicago in memory of James Tobin, Chicago, November 2003; International Research Forum on Monetary Policy, Board of Governors, Washington D.C.; CEPR-INSEAD conference on "Monetary Policy Effectiveness", Fontainebleau; Latin America Meeting of the Econometric Society, Panama City, Panama; Conference on “Macroeconomic Stabilisation in Latin America”, Kiel Institute of World Economics; Fed New York - ECB Conference on “Monetary Policy and the Money Market”, New York, USA; Conference on "Regulation and supervision of financial markets and institutions in the EU", ZEW University of Mannheim; Conference on “Sovereign risk, capital markets and financial stability", University of Dresden.
13th World Congress of the International Economic Association, Lisbon; ECB/Eurosystem conference on Lessons from European Integration for Latin America, Frankfurt; Kiel Institute of World Economics; 16th Annual Conference of the EEA, Lausanne;
2001 and before :
Conference on Financial Stability Framework for Asia at the Asian Development Bank, Manila, Philippines, May 2001; University of Hawaii, Honolulu, 2001; Universitat Pompeu Fabra, 2001; Money, Macro and Finance Research Group 2000 Conference, London, September 2000; Royal Economic Society Annual Conference 2000, St. Andrews, July 2000; Conference on Financial Stability in EMEs, Halle Institute for Economic Research, July 2000; Young Economist Conference 2000, Oxford, March 2000; German Economic Society Conference, Mainz, September 1999; 12th World Congress of the International Economic Association, Buenos Aires, August 1999; 13th Annual Conference of the European Economic Association, Berlin, September 1998.
American Economic Review; AEJ Macroeconomics, Journal of Finance, Journal of Monetary Economics, Journal of Money, Credit and Banking; Review of Economics and Statistics; Journal of International Economics; Review of Financial Studies; Journal of Economic Dynamics and Control; Journal of Development Economics; International Journal of Central Banking; European Economic Review; Journal of Applied Econometrics; Journal of International Money and Finance; Journal of Banking and Finance; Journal of Financial Intermediation; Journal of the Japanese and International Economies; European Journal of Political Economy; International Journal of Finance and Economics; Berkeley Electronic Journals in Macroeconomics; Oxford Economic Papers; Weltwirtschaftliches Archiv (Review of World Economics); Review of International Economics; CESifo Economic Studies; Oxford Bulletin of Economics and Statistics; Journal of Macroeconomics; Louvain Economic Review; Palgrave Publishers; National Science Foundation.
Professional Activities and Associations
Founding member of the Global Economic Association (GEA).
CEPR Research Fellow; CESifo Research Fellow.
International Research Fellow of the Kiel Institute of the World Economy.
Former member of the Editorial Board of Economie Internationale (CEPII).
Membership in European Economic Association, Verein fuer Socialpolitik, American Economic Association, American Finance Association, European Finance Association, Royal Economic Society.
CEPR Prize Winner of the Best Central Bank Research Paper in 2007 for work on asset price bubbles and global imbalances (press notice available at: http://www.cepr.org/press/CEPR_ESI_2007_prize.htm)
Kiel Institute 2006/2007 Excellence Award in Global Economic Affairs for work on global financial linkages and monetary policy (press notice available at: http://www.uni-kiel.de/ifw/presse/pm/2007/07_01_09_e.htm)
Pacific Basin Research Center (PBRC) Award 1996 for Master’s Thesis, Harvard University, John F. Kennedy School of Government, Cambridge, USA
1993 Trinity Award for Meritorious Work, Trinity College, University of Oxford.