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Scientific Articles

Articles in Refereed Jounals

On the Geographical Dispersion of Euro Currency Trading: An Analysis of the First 20 Years and a Comparison to the RMB
Comparative Economic Studies, Vol. 65(2), No. 3, pp. 263-287 (2023).
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Development aid and illicit capital flight: Evidence from Nepal
with Sven Steinkamp, The World Economy, Vol. 45(7), pp. 2305-2336 (2022).
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Chinese Exchange Rate Policy: Lessons for Global Investors
with Michael Melvin, Journal of Money, Credit and Banking, Vol. 54(1),  pp. 145-168 (2022).
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Evergreening in the Euro Area: Evidence from Survey Data and a Conceptual Framework
with Sven Steinkamp and Aaron Tornell, CESifo Economic Studies, Vol. 67(1), pp. 1-34 (2021).
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The Evolution of Offshore Renminbi Trading: 2016 to 2019
with Yin-Wong Cheung and Louisa Grimm, Journal of International Money and Finance, Vol. 113, 102369, May 2021.
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Are Debt Sustainability Indicators Based on Time-Series Data Useful for Predicting Crises?
with Katharina Mersmann, FinanzArchiv: Public Finance Analysis, Vol. 76(2), pp. 146-164 (2020).
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Capital flight to Germany: Two alternative measures
with Yin-Wong Cheung and Sven Steinkamp, Journal of International Money and Finance, Vol. 102 (2020).
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A tale of two surplus countries: China and Germany
with Yin-Wong Cheung and Sven Steinkamp, Open Economies Review, Vol. 31, pp. 131-158 (2020).
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Exit strategies, capital flight and speculative attacks: Europe's version of the trilemma
with Andreas Steiner and Sven Steinkamp, European Journal of Political Economy, Vol. 59(C), pp. 83-96 (2019).
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Systemic crisis and growth revisited: Has the global financial crisis marked a new era?
with Sven Steinkamp, Economics Letters, Vol. 170, pp. 50-54, (2018).
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Do Foreign Currency Accounts Help Relax Credit Constraints? Evidence from Nepal
with Maskay, Nephil Matangi and Sven Steinkamp, Pacific Economic Review, Vol 23.3, pp. 464-489 (2018).
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Multilateral loans and interest rates: further evidence on the seniority conundrum
with Sven Steinkamp, International Journal of Finance and Economics, Vol. 22.2, pp. 169-178 (2017).
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China's Capital Flight: Pre- and post-Crisis Experiences
with Yin-Wong Cheung and Sven Steinkamp, Journal of International Money and Finance, Vol. 66, pp. 88-112 (2016).
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The Role of Creditor Seniority in Europe's Sovereign Debt Crisis
with Sven Steinkamp, Economic Policy, Vol. 29.79, pp. 495-552 (2014).
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Target2 and Central Bank Balance Sheets: Discussion
Economic Policy, Vol. 29, pp. 77 (2014).
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On the Size of Fiscal Multipliers: A Counterfactual Analysis
with Jan Kuckuck, Economics Letters, Vol. 123(1), pp. 26-32 (2014).
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The Tragedy of the Commons and Inflation Bias in the Euro Area
with Valeriya Dinger and Sven Steinkamp, Open Economies Review, Vol. 25 (1), pp. 71-91 (2014).
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How Strong is the Case for Dollarization in Central America? An Empirical Analysis of Business Cycles, Credit Market Imperfections and the Exchange Rate
with Nannette Lindenberg, International Journal of Finance and Economics, Vol. 17 (2), pp. 147-166 (2012).
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Common Trends and Common Cycles among Interest Rates of the G7-Countries
with Nannette Lindenberg, Journal of Macroeconomics, Vol. 34 (4), pp. 1125-1140 (2012).
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Financial Development and Sectoral Output Growth in 19th Century Germany
with Katharina Diekmann, Financial History Review, Vol. 19 (2), pp. 149-174 (2012).
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On the Time Series Measure of Conservatism: A Threshold Autoregressive Model
with Sebastian Brauer, Review of Quantitative Finance and Accounting, Vol. 41, pp. 111–129 (2013).
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Systemic Crises and Growth
with Romain Ranciere and Aaron Tornell, Quarterly Journal of Economics, Vol. 123 (1), pp. 359-406 (2008).
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Decomposing the Effects of Financial Liberalization: Crises vs. Growth
with Romain Ranciere and Aaron Tornell, Journal of Banking and Finance, Vol. 30 (12), pp. 3331-3348 (2006).
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Fiskalpolitik in Deutschland: Eine Empirische Analyse am Beispiel des Vorziehens der Steuerreform
with Michael Plötscher and Tobias Seidel, Kredit und Kapital, Vol. 38 (1), pp. 23-51 (2005).
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Globalizacion, Crecimiento, Y Crisis Financieras: Lecciones de Mexico y del mundo en dearrollo
with Aaron Tornell and Lorenza Martinez, El Trimestre Economico, LXXI (2), Vol. 282, pp. 251-351 (2004).
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On Assisting Domestic Industries under Bertrand Competition
with Dominik Egli, Review of International Economics, Vol. 12 (3), pp. 435-440 (2004).
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Optimal Tariffs and Subsidies and Changes in Market Structure
with Dominik Egli, Review of Development Economics, Vol. 8 (3), pp. 406-412 (2004).
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Does the Euro Affect the Dynamic Interactions of Stock Markets in Europe? Evidence from France, Germany and Italy
European Journal of Finance, Vol. 10 (2), pp. 139-148 (2004).
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Liberalization, Growth and Financial Crises: Lessons from Mexico and the Developing World
with Aaron Tornell and Lorenza Martinez, Brookings Papers on Economic Activity, Vol. 34 (2), pp. 1-112 (2003).
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Sectoral Trends and Cycles in Germany
with Yin-Wong Cheung, Empirical Economics, Vol. 28 (1), pp. 141-156 (2003).
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Whether to choose tariffs or subsidies to protect a domestic industry
with Dominik Egli, Journal of Economic Integration, Vol. 18 (1), pp. 150-163 (2003).
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Boom-Bust Cycles in Middle Income Countries: Facts and Explanation
with Aaron Tornell, IMF Staff Papers, Vol. 49 (Special Issue), pp. 111-155 (2002).
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Productivity Convergence in European Manufacturing
with Antonio I. Garcia Pascual, Review of International Economics, Vol. 10 (2), pp. 313-323 (2002).
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Output Dynamics of the G7 Countries - Stochastic Trends and Cyclical Movements
with Yin-Wong Cheung, Applied Economics, Vol. 34 (18), pp. 2239-2247 (2002).
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Stochastic trends and cycles in national stock market indices: Evidence from the U.K., the U.S. and Switzerland
Swiss Journal of Economics and Statistics, Vol. 138 (3), pp. 317-328 (2002).
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SeptemBear: A Seasonality Puzzle in the German Stock Index DAX
with Michael Reutter and Jakob von Weizsäcker, Applied Financial Economics, Vol. 12 (11), pp. 765-769 (2002).
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Two Mezzogiornos
with Hans-Werner Sinn, Rivista di diritto finanziario e scienza delle finanze, Vol. LX (1), pp. 29-54 (2001).
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Factor Price Equalization? The Cointegration Approach Revisited
with Helge Berger, Review of World Economics (Weltwirtschaftliches Archiv), Vol. 137 (3), pp. 525-536 (2001).
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On the Welfare Equivalence of Tariffs and Quotas under Duopoly
with Dominik Egli, Swiss Journal of Economics and Statistics, Vol. 137 (2), pp. 171-182 (2001).
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Equity Price Dynamics Before and After the Introduction of the Euro
with Yin-Wong Cheung, Multinational Finance Journal, Vol. 5 (2), pp. 113-128 (2001).
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Does Austria Respond to the German or the U.S. Business Cycle?
with Yin-Wong Cheung, International Journal of Finance and Economics, Vol. 5 (1), pp. 33-42 (2000).
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An Analysis of German Effects on the Austrian Business Cycle
with Yin-Wong Cheung, Review of World Economics (Weltwirtschaftliches Archiv), Vol. 135 (3), pp. 522-531 (1999).
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Germany: Hegemonic Power and Economic Gain?
with Andrei S. Markovits and Simon Reich, Review of International Political Economy, Vol. 3 (4), pp. 698-727 (1996).
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