Multilateral loans and interest rates: further evidence on the seniority
(with Frank Westermann), International Journal of Finance and Economics, forthcoming.
Do Foreign Currency Accounts Help Relax Credit
Constraints? Evidence from Nepal
(with Nephil M. Maskay & Frank Westermann), Pacific Economic Review, forthcoming.
- An early draft was circulated under the title
"On Remittances, Foreign Currency Exposure and Credit Constraints:
Evidence from Nepal", CESifo Working Paper No. 5053, November 2014.
Capital Flight: Pre- and Post-Crisis Experiences
(with Yin-Wong Cheung & Frank Westermann), Journal of International Money and Finance, Vol. 66, 2016.
The role of creditor seniority in Europe's sovereign debt crisis
(with Frank Westermann), Economic Policy, Vol. 29(79), 2014.
The Tragedy of the Commons and Inflation Bias
in the Euro Area
(with Valeriya Dinger & Frank Westermann), Open Economies Review, Vol. 25(1), 2014.
Comments & Policy Contributions
Does China’s Capital Flight respond to US Monetary Policy?
(with Yin-Wong Cheung & Frank Westermann), Econbrowser, 02/09/16.
capital flight and US monetary policy
(with Yin-Wong Cheung & Frank Westermann), VoxEU, 01/27/16.
The Impact of Remittances on Central Bank
Balance Sheets, Inflation and Welfare in Nepal
(with Nephil M. Maskay & Frank Westermann), NRB Economic Review (Journal of the Central Bank of Nepal), 2015. A non-technical summary in german appeared on Oekonomenstimme.org and in the NZZ.
Target2-Salden: Datenquellen und Informationsgehalt als Krisenindikator
Wirtschaftsdienst, December 2014.
What explains high interest rates in Europe?
(with Frank Westermann), VoxEU, 08/22/12.
Working Papers & Ongoing Research
- Common Pools in the Euro-Area and the Tragedy of the Commons: Facts, Model and Policy Implications.
- Speculative Attack in the Euro Area: Facts and Explanation. [Draft version]
- An empirical analysis of the seniority reversal of German reparations in 1929.
- Asymmetric persistence in business expectations - Evidence from survey data.