New column on the output costs of the Brexit vote at VoxEU.


Call for Papers for a workshop on “Fiscal Policy in the EMU” I organize jointly with the Bundesbank and ADEMU. Application deadline: December 15, 2017.


New Research Training Group “The Macroeconomics of Inequality” at the University of Bonn. Apply now at:!


Recent Publications

More Publications

(2017). Uncertainty and the Great Recession. Oxford Bulletin of Economics and Statistics, accepted.

CEPR DP No. 12083 Ungated

(2016). Testing for Serial Correlation in Fixed-Effects Panel Data Models. Econometric Reviews, 35(7), pp. 1290-1316.

Code Published Version Working Paper

(2015). Recursive Adjustment for General Deterministic Components and Improved Tests for the Cointegration Rank. Journal of Time Series Econometrics, 7(2), pp. 143-179.

Published Version Working Paper

(2014). Risk Matters: The Real Effects of Volatility Shocks: Comment. American Economic Review, 104(12), pp. 4231-4239.

Code Published Version Working Paper Web Appendix

(2014). Policy Risk and the Business Cycle. Journal of Monetary Economics, 68, pp. 68-85.

Code Published Version Working Paper Web Appendix

Working Papers

More Publications

(2017). Asymmetric Impulse Responses. Coming soon.

(2017). The Economic Consequences of the Brexit Vote. Submitted.

CEPR DP No. DP12454 Ungated VoxEU

(2017). Time-Varying Business Volatility and the Price Setting of Firms. Submitted.

New Version CEPR DP No. 9702 NBER WP No. 19180

(2017). Does Austerity Pay Off?. Review of Economics and Statistics, revise & resubmit.

Latest Version Earlier CEPR DP No. 10425 VoxEU Ökonomenstimme

(2016). The New Keynesian Wage Phillips Curve: Calvo vs. Rotemberg. Macroeconomic Dynamics, revise & resubmit.

Code CEPR DP No. 11568 Ungated


Fall / Winter 2017

  • Econometrics (M.Sc.) - Syllabus
  • New Approaches in Structural Macroeconometrics (Ph.D.) - Syllabus

Thesis Supervison

Theses are allocated four times a year: 01.04., 01.06., 01.10., 01.12. To apply for supervision, please email me the following items before the respective deadline:

  • Up-to-date transcript
  • Short CV
  • Rough description of what you’re interested in
  • Time period in which you want to write your thesis

I’ll notify you after the deadline whether I have capacity to supervise your thesis.

Past Teaching

  • Dynamic Macroeconomics (M.Sc./Ph.D.) - Syllabus
  • Time Series Econometrics (M.Sc./Ph.D.) - Syllabus
  • Project Modules (M.Sc.)
  • Topics in Business Cycles I/II (Ph.D.)
  • Seminar in Fiscal Policy (M.Sc.)
  • Makroökonomik B (Intermediate Macroeconomics) (B.Sc.)


Office Hour: please sign up via the Doodle link

Wednesday, January 10th, 13:15 - 14:15