•  Curriculum Vitae

Research Interests

• Business Cycle Macroeconomics
• Monetary and Fiscal Policy
• Labor Markets and Unemployment

Recent Working Papers:

• "International Capital Flows, External Assets, and Output Volatility", with Mathias Hoffmann and Peter Tillmann, Deutsche Bundesbank Discussion Paper, vol. 30/2014, revise and resubmit, Journal of International Economics.
• "Modeling Labor Markets in Macroeconomics: Search and Matching", with Thomas A. Lubik, Federal Reserve Bank of Richmond Working Paper, vol. 14/19, 2014.
• "On-the-job Search and the Cyclical Dynamics of the Labor Market", with Thomas A. Lubik, Bundesbank Discussion Paper, vol. 15/2007, 2009.

Publications:

• "The Expectation-driven U.S. Current Account Imbalance", with Mathias Hoffmann (Deutsche Bundesbank) and Thomas Laubach (Federal Reserve Board), Deutsche Bundesbank Discussion Paper, vol. 10/2013, forthcoming The Economic Journal 2017.
• "Public Debt and Changing Inflation Targets", with Stephane Moyen (Deutsche Bundesbank), American Economic Journal: Macroeconomics 8(4), pp. 142-76. 2016.
• "Transitions in the German Labor Market: Structure and Crisis", with Harald Uhlig (University of Chicago), Journal of Monetary Economics 59(1), pp. 64-79, 2012.
• "Trend Growth Expectations and U.S. House Prices Before and After the Crisis", with Mathias Hoffmann (Deutsche Bundesbank) and Thomas Laubach (Federal Reserve Board), Journal of Economic Behavior and Organization 83(3), pp. 394-409, 2012.
• "Some Macroeconomic and Monetary Policy Implications of New Micro Evidence on Wage Dynamics", with G. De Walque, J. Jimeno, H. Le Bihan and S. Millard, F. Smets, Journal of the European Economic Association 8(2-3), pp. 506-513, 2010.
•  "Inflation Dynamics with Search Frictions: A Structural Econometric", with David Lopez-Salido (Federal Reserve Board) and Thomas A. Lubik (Federal Reserve Bank of Richmond), Journal of Monetary Economics, vol. 55, pp. 892-916, 2008.
  
•  "Do Search Frictions Matter for Inflation Dynamics?", with David Lopez-Salido (Federal Reserve Board) and Thomas A. Lubik (Federal Reserve Bank of Richmond), European Economic Review, vol. 52, pp. 464-1479, 2008.
  
• "The (Ir)relevance of Real Wage Rigidity in the New Keynesian Model", with Search Frictions and Thomas A. Lubik (Federal Reserve Bank of Richmond), Journal of Monetary Economics, vol. 54, pp. 706-727, 2007.
• "The Cyclical Upgrading of Labor and On-the-Job Search", with Thomas A. Lubik (Federal Reserve Bank of Richmond), Labour Economics 13(4), pp. 459-77, 2006.
  

Non-refereed Publications:

• "Does Intra-Firm Bargaining Matter for Business Cycle Dynamics?", with Thomas Lubik (Federal Reserve Bank of Richmond), Economic Quarterly 99(3), pp. 229-250, 2013.
•  "Instability and Indeterminacy in Search and Matching Models", with Thomas A. Lubik (Federal Reserve Bank of Richmond), Economic Quarterly 96(3), pp. 259-272, 2010.