The views, opinions and policy recommendations presented below are my own ones and are not necessarily those of the IMF or of its Management, Executive Board, or member countries.

Policy Contributions

- On the Euro Area

Die Fiskalunion ist mehr als eine Versicherung

Frankfurter Rundschau, 11/2017 und DIW Wochenbericht 48/2017

 

Euro für alle (?): 

DIW aktuell Nr. 3, October 2017

 

Für eine offene und fundierte Debatte über Eurobonds: Kommentar 

DIW Wochenbericht 20/2017

A slightly modified version also appeared in Der Tagesspiegel, May 2017

 

Austerity Measures Amplified Crisis in Spain, Portugal, and Italy 

with Mathias Klein

DIW Economic Bulletin 8/2017

 

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

with Kerstin Bernoth and Patrick Burauel

DIW Economic Bulletin 10/2014

 

Safe Bonds for the European Monetary Union: Strengthening Bailout Ban with More Robust Financial System

with Christoph Große Steffen

DIW Economic Bulletin 10/2014

See also Marcel Fratzscher's article in "Die Zeit" as well as Martin Blessing's statements in "Handelsblatt"

 

A Transfer Mechanism as a Stabilization Tool in the EMU

with Kerstin Bernoth

DIW Economic Bulletin 1/2013

- On Eastern European Economies

Preliminary analysis of employment impact of the recent minimum wage hike

with Robert Kirchner and Olga Kupets

German Advisory Group Ukraine Policy Briefing 5/2017

See also this Newsletter on the issue.

 

Current proposals for "targeted refinancing" - Back to the past?

with Robert Kirchner and Vitaliy Kravtchuk

German Advisory Group Ukraine Policy Paper 2/2017

 

Economic impact of the recent decrease in social security contribution – A model based analysis

with Robert Kirchner, Simon Voigts and Oleksandra Betliy

Germany Advisory Group Ukraine Policy Briefing 9/2016

See also the more detailed technical note, this Newsletter and this voxukraine-blog entry

 

Mopping up Ukraine’s Banking Sector: Short-term Pain, Long-term Gain

with Robert Kirchner and Vitaliy Kravtchuk

German Advisory Group Ukraine Policy Paper 1/2016

 

The transmission mechanism in Moldova. Reasons for its weakness and recommedations for its strengthening

with Ricardo Giucci

German Economic Team Moldova Policy Paper 1/2015

 

Devaluation of the Moldovan Leu, but no overshooting

with Ricardo Giucci

German Economic Team Moldova Newsletter May-June 2015