Recent research

Kinks and Gains from Credit Cycles (w. Søren Hove Ravn and Emiliano Santoro). June 2019.

What Drives the European Central Bank's Interest-Rate Changes? (w. Morten Aastrup) CEPR Discussion Paper No. 8160, London. December 2010.

Inflation Dynamics in the Euro Area: One Structural Estimation. Mimeo, University of Copenhagen. This version: July 2010.

Monetary Policy Frameworks and Real Equilibrium Determinacy. Mimeo, University of Copenhagen. This version: February, 2002. (Slides for 2001/2002 presentations.)

State Manipulation and Asymptotic Inefficiency in a Dynamic Model of Monetary Policy (w. Ben Lockwood). Mimeo, Universities of Copenhagen and Warwick. This version: March 2000. (Additional appendices.)