Recent research

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

Leverage and Deepening Business Cycle Skewness (w. Ivan Petrella, Søren Hove Ravn and Emiliano Santoro). Revised version: October 2018. Forthcoming, American Economic Journal: Macroeconomics.

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.)