Research

Here‘s my RePEc page. It contains most of my working papers and links to journal websites for published articles.

And here’s some other recent work.

The Wisdom of No Crowds: The Reaction of Betting Markets to Lockdown Soccer Games (with Tadgh Hegarty). April 2022.

A Model of QE, Reserve Demand and the Money Multiplier, forthcoming in Journal of Money Credit and Banking.

The Past, Present and Future of Euro Area Monetary-Fiscal Interactions, February 2022. Forthcoming in International Economics and Economic Policy.

Central Banks and Inflation: Where Do We Stand and How Did We Get Here?,  European Journal of Economics and Economic Policies, 2021 (link).

Quantitative Easing and the Hot Potato Effect: Evidence from Euro Area Banks (with Ellen Ryan), Journal of International Money and Finance, 2021 (link).

Do Business-Friendly Reforms Boost GDP? (with Tamanna Adhikari), December 2019.

The Euro at 20: Successes, Problems, Progress and Threats, Economic and Social Review, December 2019.

Europe’s Long-Term Growth Prospects: With and Without Structural Reforms (with Kieran McQuinn). Published in The Political Economy of Structural Reforms in Europe. Edited by Nauro F. Campos, Paul De Grauwe, and Yuemei Ji, Oxford University Press, 2018.

Banking Union and the ECB as Lender of Last Resort, August 2016. Published in Filling the Gaps in Governance: the Case of Europe edited by Franklin Allen, Elena Carletti, Joanna Gray and Mitu Gulati.

Changes in Bank Leverage: Evidence from US Bank Holding Companies (with Martin O’Brien). March 2015.

People sometimes ask about my TARGET2 paper.  I recommend this working paper version TARGET2 and Central Bank Balance Sheets (March 2013) to the revised (but not better) draft published in Economic Policy.