De Grauwe, Paul


Professor Paul De Grauwe  

Department

Position held

European Institute

John Paulson Chair in European Political Economy, Head of the European Institute

Non LSE positions held

Department

Position held

Centre for European Policy Studies, Brussels

Research Fellow

CESifo, University of Munich

Director of the money, macro and international finance research network

Research summary > [Click to expand]

Paul De Grauwe's research interests are international monetary relations, monetary integration, theory and empirical analysis of the foreign-exchange markets, and open-economy macroeconomics. His published books include "The Economics of Monetary Union", Oxford, which was translated in ten languages (including Spanish, French, Italian, Chinese and Japanese), and is now in its ninth edition. Other books are "International Money. Post-war Trends and Theories", Oxford, and "The exchange rate in a behavioural finance framework", Princeton, 2006.

Sectors and industries to which research relates:

Financial Services

Countries and regions to which research relates:

Europe

Languages:

French [Spoken: Fluent, Written: Fluent]

Media experience:

Has written for mainstream press

Contact Points

LSE phone number:

+44 (0)20 7955 6464

Publications

LSE Research Online, Funnelback Search

2014

de Grauwe, Paul and Ji, Yuemei (2014) The future of the Eurozone Manchester School Journal, 82 (Sup.S1). 15-34. ISSN 1463-6786

de Grauwe, Paul and Ji, Yuemei (2014) How much fiscal discipline in a monetary union Journal of Macroeconomics, 39 (Part B). 348-360. ISSN 0164-0704

2013

de Grauwe, Paul (2013) The political economy of the Euro Annual Review of Political Science, 16 (1). 153-170. ISSN 1094-2939

de Grauwe, Paul and Markiewicz, Agnieszka (2013) Learning to forecast the exchange rate: two competing approaches Journal of International Money and Finance, 32. 42-76. ISSN 0261-5606

de Grauwe, Paul and Ji, Yuemei (2013) Fiscal implications of the ECB's bond buying programme Open Economies Review, 24 (5). 843-852. ISSN 0923-7992

de Grauwe, Paul and Ji, Yuemei (2013) Fiscal implications of the ECB’s bond buying program Open Economies Review, 24 (5). 843-852. ISSN 0923-7992

de Grauwe, Paul and Ji, Yuemei (2013) Self-fulfilling crises in the Eurozone: an empirical test Journal of International Money and Finance, 34. 15-36. ISSN 0261-5606

de Grauwe, Paul (2013) The European Central Bank as lender of last resort in the government bond markets CESifo Economic Studies, 59 (3). 520-535. ISSN 1612-7501

de Grauwe, Paul (2013) Design failures in the Eurozone: can they be fixed? LSE 'Europe in Question' discussion paper series, 57/2013. The London School of Economics and Political Science, London.

de Grauwe, Paul and Ji, Yuemei (2013) From panic-driven austerity to symmetric macroeconomic policies in the eurozone Journal of Common Market Studies, 51 (S1). 31-41. ISSN 0021-9886

2012

de Grauwe, Paul (2012) Barry Eichengreen's exorbitant privilege: a review essay International Finance, 14 (3). 567-571. ISSN 1367-0271

de Grauwe, Paul and Westermann, Frank (2012) Financial market regulation in Europe In: Buettner, Thiess and Ochel, Wolfgang, (eds.) The Continuing Evolution of Europe. CESifo seminar series. MIT Press, Massachusetts, USA, 9-32. ISBN 9780262017015

de Grauwe, Paul (2012) Booms and busts: new Keynesian and behavioural explanations In: Solow, Robert M. and Touffut, Jean-Philippe, (eds.) What’s Right With Macroeconomics?. The Cournot Centre series. Edward Elgar Publishing Ltd, Cheltenham, 149-180. ISBN 9781781007396

Costa Storti, Claudia and de Grauwe, Paul (2012) Introduction: illicit trade and the global economy In: de Grauwe, Paul and Costa Storti, Claudia, (eds.) Illicit Trade and the Global Economy. CESifo seminar series. MIT Press, Massachusetts, USA, 1-6. ISBN 9780262016551

de Grauwe, Paul (2012) The European central bank: lender of last resort in the government bond markets? In: Allen, Franklin and Carletti, Elena and Simonelli, Saverio, (eds.) Governance for the Eurozone: Integration or Disintegration?. FIC Press, Philadelphia, PA, USA, 17-28. ISBN 9780983646945

de Grauwe, Paul and Kaltwasser, Pablo Rovira (2012) The exchange rate in a behavioral finance framework In: James, Jessica and Marsh, Ian and Sarno, Lucio, (eds.) Handbook of Exchange Rates. Wiley handbooks in financial engineering and econometrics. Wiley-Blackwell, New Jersey, USA, 111-132. ISBN 9780470768839

Costa Storti, Claudia and de Grauwe, Paul (2012) Modelling the cocaine and heroin markets in the era of globalization and drug reduction policies In: de Grauwe, Paul and Costa Storti, Claudia, (eds.) Illicit Trade and the Global Economy. CESifo seminar series. MIT Press, Massachusetts, USA, 119-158. ISBN 9780262016551

de Grauwe, Paul (2012) How not to be a lender of last resort CEPS commentaries, Centre for European Policy Studies (CEPS), Brussels, Belgium.

de Grauwe, Paul (2012) To stabilize the Eurozone, the ECB must set aside its fears and start buying governments’ bonds LSE European Politics and Policy (EUROPP) Blog (31 Jul 2012) Blog entry

de Grauwe, Paul (2012) Lessons from the Eurocrisis for East Asian monetary relations The World Economy, 35 (4). 405-418. ISSN 0378-5920

de Grauwe, Paul (2012) As the Eurozone hangs on the precipice, the European Commission and the ECB must take swift action to remedy Europe’s deflationary spiral British Politics and Policy at LSE (9 Jun 2012) Blog entry

de Grauwe, Paul and Ji, Yuemei (2012) Mispricing of sovereign risk and macroeconomic stability in the Eurozone Jcms: Journal of Common Market Studies, 50 (6). 866-880. ISSN 0021-9886

de Grauwe, Paul and Houssa, Romain and Piccillo, Giulia (2012) African trade dynamics: is China a different trading partner? Journal of Chinese Economic and Business Studies, 10 (1). 15-45. ISSN 1476-5284

de Grauwe, Paul and Rovira Kaltwasser, Pablo (2012) Animal spirits in the foreign exchange market Journal of Economic Dynamics and Control, 36 (8). 1176-1192. ISSN 0165-1889

de Grauwe, Paul (2012) The governance of a fragile eurozone Australian Economic Review, 45 (3). 255-268. ISSN 0004-9018

de Grauwe, Paul (2012) The European Central Bank has delegated its lender of last resort duty to panicky bankers who are the slaves of market sentiments. Pumping in over 1,000 billion Euros this way has not stabilized Europe’s sovereign debt markets LSE European Politics and Policy (EUROPP) Blog (9 Mar 2012) Blog entry

de Grauwe, Paul (2012) The eurozone’s double-dip recession is entirely self-made LSE European Politics and Policy (EUROPP) Blog (28 Nov 2012) Blog entry

de Grauwe, Paul (2012) Booms and busts in economic activity: a behavioral explanation Journal of Economic Behavior and Organization, 83 (3). 484-501. ISSN 0167-2681

de Grauwe, Paul and Costa Storti, Claudia, eds (2012) Illicit trade and the global economy CESifo seminar series. MIT Press, Massachusetts, USA. ISBN 9780262016551

de Grauwe, Paul (2012) As the Eurozone hangs on the precipice, the European Commission and the ECB must take swift action to remedy Europe’s deflationary spiral LSE European Politics and Policy (EUROPP) Blog (7 Jun 2012) Blog entry

de Grauwe, Paul and Ji, Yuemei (2012) Mispricing of sovereign risk and multiple equilibria in the Eurozone CEPS working documents, No. 316. Centre for European Policy Studies, Brussels, Belgium. ISBN 9789461381620

de Grauwe, Paul (2012) Lectures on behavioral macroeconomics Princeton University Press, New Jersey, USA. ISBN 9780691147390

de Grauwe, Paul (2012) Economics of monetary union 9th, Oxford University Press, Oxford, UK. ISBN 9780199605576

2011

de Grauwe, Paul (2011) European monetary union In: Durlauf, Steven N and Blume, Lawrence E., (eds.) The New Palgrave Dictionary of Economics. Palgrave Macmillan, Basingstoke, UK. ISBN 9781137021991

de Grauwe, Paul (2011) What kind of governance for the Eurozone In: Meeusen, Wim, (ed.) The Economic Crisis and European Integration. Edward Elgar, Cheltenham, UK, 7-16. ISBN 9781849804202

Costa Storti, Claudia and de Grauwe, Paul and Reuter, Peter (2011) Economic recession, drug use and public health International Journal of Drug Policy, 22 (5). 321-325. ISSN 0955-3959

de Grauwe, Paul (2011) Animal spirits and monetary policy Economic Theory, 47 (2-3). 423-457. ISSN 0938-2259

de Grauwe, Paul (2011) The governance of a fragile Eurozone CEPS working documents, No. 346. Centre for European Policy Studies, Brussels, Belgium. ISBN 9789461380968

Costa Storti, Claudia and de Grauwe, Paul and Sabadash, Anna and Montanari, Linda (2011) Unemployment and drug treatment International Journal of Drug Policy, 22 (5). 366-373. ISSN 0955-3959

2010

de Grauwe, Paul (2010) The road to self-destruction of the eurozone Eurointelligence (18 Nov 2010) opinion

de Grauwe, Paul (2010) The fragility of the Eurozone’s institutions Open Economies Review, 21 (1). 167-174. ISSN 0923-7992

de Grauwe, Paul (2010) The banking crisis: causes, consequences and remedies In: Talani, Leila Simona, (ed.) The Global Crash: Towards a New Global Financial Regime? . Palgrave Macmillan, Basingstoke, UK, 10-31. ISBN 9780230243415

de Grauwe, Paul (2010) How to embed the Eurozone in a political union Vox (17 Jun 2010) opinion

de Grauwe, Paul (2010) Fighting the wrong enemy Vox (19 May 2010) opinion

de Grauwe, Paul (2010) Book review: the return of Keynes International Finance, 13 (1). 157-163. ISSN 1367-0271

de Grauwe, Paul (2010) A mechanism of self-destruction of the eurozone CEPS commentaries, Centre for European Policy Studies, Brussels, Belgium.

de Grauwe, Paul (2010) What kind of governance for the eurozone? CEPS policy brief, No. 241. Centre for European Policy Studies, Brussels, Belgium.

Altavilla, Carlo and de Grauwe, Paul (2010) Non-linearities in the relation between the exchange rate and its fundamentals International Journal of Finance and Economics, 15 (1). 1-12. ISSN 1076-9307

Altavilla, Carlo and de Grauwe, Paul (2010) Forecasting and combining competing models of exchange rate determination Applied Economics, 42 (27). 3455-3480. ISSN 0003-6846

Altavilla, Carlo and de Grauwe, Paul (2010) Forecasting and combining competing models of exchange rate determination Applied Economics, 42 (27). 3455-3480. ISSN 0003-6846

de Grauwe, Paul (2010) The scientific foundation of dynamic stochastic general equilibrium (DSGE) models Public Choice, 144 (3-4). 413-443. ISSN 0048-5829

de Grauwe, Paul (2010) Top-down versus bottom-up macroeconomics CESifo Economic Studies, 56 (4). 465-497. ISSN 1612-7501

de Grauwe, Paul (2010) Quelle gouvernance pour la zone Euro? Revue d'économie Financière, 100. ISSN 1777-5744

de Grauwe, Paul, ed (2010) Dimensions of competitiveness CESifo seminar series. MIT Press, Massachusetts, USA. ISBN 9780262013963

2009

de Grauwe, Paul (2009) Economics of monetary union 8th, Oxford University Press, Oxford, UK. ISBN 9780199563234

de Grauwe, Paul (2009) Lessons from the banking crisis: a return to narrow banking CESifo Dice Report, 7 (2). 19-23. ISSN 1612-0663

de Grauwe, Paul (2009) Gains for all: a proposal for a common Euro bond Intereconomics, 44 (3). 132-141. ISSN 0020-5346

de Grauwe, Paul and Honkapohja, Seppo (2009) The macroeconomy In: Vital Uuestions, the Contribution of European Social Science. SCSS position papers. European Science Foundation, Strasbourg, France, 16-19. ISBN 9782918428046

de Grauwe, Paul (2009) The Euro at ten: achievements and challenges Empirica, 36 (1). 5-20. ISSN 0340-8744

Beine, Michel and de Grauwe, Paul and Grimaldi, Marianna (2009) The impact of FX central bank intervention in a noise trading framework Journal of Banking and Finance, 33 (7). 1187-1195. ISSN 0378-4266

Bauer, Christian and de Grauwe, Paul and Reitz, Stefan (2009) Exchange rate dynamics in a target zone: a heterogeneous expectations approach Journal of Economic Dynamics and Control, 33 (2). 329-344. ISSN 0165-1889

Costa Storti, Claudia and de Grauwe, Paul (2009) Globalization and the price decline of illicit drugs International Journal of Drug Policy, 20 (1). 48-61. ISSN 0955-3959

Costa Storti, Claudia and de Grauwe, Paul (2009) The cocaine and heroin markets in the era of globalisation and drug reduction policies International Journal of Drug Policy, 20 (6). 488-496. ISSN 0955-3959

2008

de Grauwe, Paul (2008) Returning to narrow banking In: Eichengreen, Barry and Baldwin, Richard, (eds.) What G20 Leaders Must Do to Stabilise Our Economy and Fix the Financial System. VoxEU.Org books. Centre for Economic Policy Research, London, UK. ISBN 9781907142277

de Grauwe, Paul and Costa Storti, Claudia (2008) Monetary policy and the real economy In: Schettkat, Ronald and Langkau, Jochem, (eds.) Economic Policy Proposals for Germany and Europe. Routledge studies in the European economy. Routledge, Abingdon, UK, 29-53. ISBN 9780415460842

de Grauwe, Paul (2008) There is more to central banking than inflation targeting In: Felton, Andrew and Reinhart, Carmen M., (eds.) The First Global Financial Crisis of the 21st Century. VoxEU.Org books. Centre for Economic Policy Research, London, UK. ISBN 9780955700934

de Grauwe, Paul (2008) Book review: on the need to renovate the Eurozone International Finance, 11 (3). 327-333. ISSN 1367-0271

de Grauwe, Paul (2008) Book review: the risks of being chairman in the age of turbulence International Finance, 11 (1). 109-115. ISSN 1367-0271

de Grauwe, Paul and Mayer, Thomas and Lannoo, Karel (2008) Lessons from the financial crisis: new rules for central banks and credit rating agencies? Intereconomics, 43 (5). 256-266. ISSN 0020-5346

de Grauwe, Paul and Schnabl, Gunther (2008) Exchange rate stability, inflation, and growth in (South) Eastern and Central Europe Review of Development Economics, 12 (3). 530-549. ISSN 1363-6669

de Grauwe, Paul (2007) Quo vadis Europe?: fortress or land of opportunities

de Grauwe, Paul (2007) Preconditions for a successful euro adoption In: Basci, Erdem and Togan, Subidey and von Hagen, Jurgen, (eds.) Macroeconomic Policies for Eu Accession. Edward Elgar, Cheltenham, UK, 206-227. ISBN 9781847200006

de Grauwe, Paul and Costa Storti, Claudia (2007) Monetäre Politik und reale Ökonomie In: Schettkat, Ronald and Langkau, Jochem, (eds.) Aufschwung Für Deutschland: Plädoyer International Renommierter öKonomen Für Eine Bessere Wirtschaftspolitik. Dietz, Bonn, Germany. ISBN 9783801203764

de Grauwe, Paul and Vansteenkiste, Isabel (2007) Exchange rates and fundamentals: a non-linear relationship? International Journal of Finance and Economics, 12 (1). 37-54. ISSN 1076-9307

de Grauwe, Paul (2007) De onvoltooide globalisering: verkenning van een nieuwe wereld Lannoo, Amsterdam, The Netherlands. ISBN 9789078230045

de Grauwe, Paul (2007) Economics of monetary union 7th, Oxford University Press, Oxford, UK. ISBN 9780199297801

2006

de Grauwe, Paul (2006) On monetary and political union CESifo Forum, 4. 3-10. ISSN 1615-245X

de Grauwe, Paul and Zhang, Zhaoyong (2006) Introduction: monetary and economic integration in the East Asian region The World Economy, 29 (12). 1643-1647. ISSN 0378-5920

de Grauwe, Paul (2006) Flaws in the design of the Eurosystem? International Finance, 9 (1). 137-144. ISSN 1367-0271

de Grauwe, Paul and Grimaldi, Marianna (2006) Exchange rate puzzles: a tale of switching attractors European Economic Review Papers and Proceedings, 50 (1). 1-33. ISSN 0014-2921

de Grauwe, Paul and Senegas, Marc-Alexandre (2006) Monetary policy design and transmission asymmetry in EMU: does uncertainty matter? European Journal of Political Economy, 22 (4). 787-808. ISSN 0176-2680

de Grauwe, Paul and Grimaldi, Marianna (2006) The exchange rate in behavioral finance framework Princeton University Press, Princeton, NJ, USA. ISBN 9780691121635

2005

de Grauwe, Paul (2005) Economics of monetary union 6th, Oxford University Press, Oxford, UK. ISBN 9780199277001

de Grauwe, Paul and Grimaldi, Marianna (2005) Heterogeneity of agents and the exchange rate: a nonlinear approach In: de Grauwe, Paul, (ed.) Exchange Rate Economics: Where Do We Stand?. CESifo seminar series. MIT Press, Massachusetts, USA, 125-168. ISBN 9780262042222

de Grauwe, Paul and Grimaldi, Marianna (2005) Effects of monetary policy: a meta-analysis In: Deville, V. and von Landsberger, J. and Müller, M. and Schobert, F. and Worms, A., (eds.) Issues on Monetary Theory and Policy: Proceedings of a Colloquium in Honour of Wolfgang Gebauer. Bankakademie Verlag, Frankfurt, Germany. ISBN 9783937519210

de Grauwe, Paul and Grimaldi, Marianna (2005) The exchange rate and its fundamentals in a complex world Review of International Economics, 13 (3). 549-575. ISSN 0965-7576

de Grauwe, Paul and Polan, Magdalena (2005) Globalization and social spending Pacific Economic Review, 10 (1). 105-123. ISSN 1468-0106

de Grauwe, Paul and Polan, Magdalena (2005) Is inflation always and everywhere a monetary phenomenon? Scandinavian Journal of Economics, 107 (2). 239-259. ISSN 0347-0520

de Grauwe, Paul and Grimaldi, Marianna (2005) Heterogeneity of agents, transactions costs and the exchange rate Journal of Economic Dynamics and Control, 29 (4). 691-719. ISSN 0165-1889

de Grauwe, Paul, ed (2005) Exchange rate economics: where do we stand? CESifo seminar series. MIT Press, Massachusetts, USA. ISBN 9780262042222

de Grauwe, Paul and Melitz, Jaques, eds (2005) Prospects for monetary unions after the euro CESifo seminar series. MIT Press, Massachusetts, USA. ISBN 9780262042307

2004

de Grauwe, Paul and Schnabl, Gunther (2004) EMU entry strategies for the new member states Intereconomics, 39 (5). 241-246. ISSN 0020-5346

de Grauwe, Paul and Mongelli, Francesco (2004) Endogeneities of optimum currency areas In: Sørensen, Peter Birch, (ed.) Monetary Union in Europe: Historical Perspectives and Prospects for the Future - Sssays in Honour of Niels Thygesen. DJØF Publishing, Copenhagen, Denmark. ISBN 9788757411171

Costa Storti, Claudia and de Grauwe, Paul (2004) Electronic money and the optimal size of monetary unions In: Alexander, Volbert and von Furstenberg, George M. and Mélitz, Jacques , (eds.) Monetary Unions and Hard Pegs: Effects on Trade, Financial Development and Stability. Oxford University Press and the Centre for Economic Policy Research, Oxford, UK, 321-336. ISBN 9780199271405

de Grauwe, Paul and Senegas, Marc-Alexandre (2004) Asymmetries in monetary policy transmission: some implications for EMU and its enlargement Journal of Common Market Studies, 42 (4). 757-773. ISSN 0021-9886

2003

de Grauwe, Paul (2003) Economics of monetary union 5th, Oxford University Press, Oxford, UK. ISBN 9780199256518

de Grauwe, Paul (2003) La mondialisation met-elle en péril la sécurité sociale? Problemes Economiques, 2801-2. 67-70. ISSN 0032-9304

de Grauwe, Paul and Camerman, Filip (2003) Are multinationals really bigger than nations? World Economics, 4 (2). 23-37. ISSN 1468-1838

2002

de Grauwe, Paul and Grimaldi, Marianna (2002) Exchange rate regimes and financial vulnerability EIB Papers, 7 (2). 33-48. ISSN 0257-7755

de Grauwe, Paul and Skudelny, Frauke (2002) Inflation and productivity differentials in EMU In: Hairault, Jean-Olivier and Kempf, Hubert, (eds.) Market Imperfections and Macroeconomic Dynamics. Kluwer Academic Press, Boston, MA, USA, 77-104. ISBN 9780792374046

Costa Storti, Claudia and de Grauwe, Paul (2002) Monetary policy in a cashless society In: Balling, Morten and Lierman, Frank and Mullineux, Andy, (eds.) Technology and Finance, Challenges for Financial Markets, Business Strategies and Policy Makers. Routledge international studies in money and banking. Routledge, London, UK, 241-260. ISBN 9780415298278

de Grauwe, Paul (2002) Book review: central banking as art or science?: lessons from the Fed and the ECB International Finance, 5 (1). 129-137. ISSN 1367-0271

Aksoy, Yunus and de Grauwe, Paul and Dewachter, Hans (2002) Do asymmetries matter for European monetary policy? European Economic Review, 46 (3). 443-469. ISSN 0014-2921

de Grauwe, Paul (2002) Challenges for monetary policy in Euroland Journal of Common Market Studies, 40 (4). 693-718. ISSN 1747-5244

Begg, Iain and Canova, Fabio and de Grauwe, Paul and Fatas, Antonio and Lane, Philip R. (2002) Surviving the slowdown Monitoring the European central bank, 4. Centre for Economic Policy Research, London, UK. ISBN 1898128650

2001

de Grauwe, Paul and Grimaldi, Marianna (2001) The mystery of the decline of the euro Aussenwirtschaft, 56 (iv). 459-476. ISSN 0004-8216

de Grauwe, Paul (2001) Independence and accountability of central banks In: Stiglitz, Joseph E. and Muet, Pierre-Alain, (eds.) Governance, Equity and Global Markets. Oxford University Press, Oxford, UK, 137-142. ISBN 9780199241552

de Grauwe, Paul and Polan, Magdalena (2001) Increased capital mobility: a challenge for national macroeconomic policies In: Siebert, Horst, (ed.) The World's New Financial Landscape: Challenges for Economic Policy. Springer, Heidelberg, Germany, 177-194. ISBN 9783540419921

de Grauwe, Paul, ed (2001) The political economy of monetary union The international library of critical writings in economics series. Edward Elgar, Cheltenham, UK. ISBN 9781840644265

2000

de Grauwe, Paul and Skudelny, Frauke (2000) The impact of EMU on trade flows Weltwirtschaftliches Archiv, 136 (3). 381-402. ISSN 0043-2636

de Grauwe, Paul (2000) Controls on capital flows Journal of Policy Modeling, 22 (3). 391-405. ISSN 0161-8938

de Grauwe, Paul (2000) Exchange rates in search of fundamentals: the case of the euro-dollar rate International Finance, 3 (3). 329-356. ISSN 1367-0271

de Grauwe, Paul and Dewachter, Hans and Askoy, Yunus (2000) From EMS to EMU: are we better off? In: Eichengreen, Barry and Frieden, Jeffry A., (eds.) The Political Economy of European Monetary Unification. Westview, Boulder, CO, USA, 157-178. ISBN 9780813397610

de Grauwe, Paul (2000) Monetary policies in the presence of asymmetries Journal of Common Market Studies, 38 (4). 593-612. ISSN 0021-9886

de Grauwe, Paul (2000) Economics of monetary union 4th, Oxford University Press, Oxford, UK. ISBN 9780198776321


Personal website

Now in its 10th edition, this is the only textbook that discusses both the costs and benefits of monetary unions and the actual workings of the eurozone.

Highlight Image

Short bio >

Prior to joining LSE, Paul De Grauwe was Professor of International Economics at the University of Leuven, Belgium. He was a member of the Belgian parliament from 1991 to 2003. He is honorary doctor of the University of Sankt Gallen (Switzerland), of the University of Turku (Finland), and the University of Genoa.

Professor De Grauwe obtained his PhD from the Johns Hopkins University in 1974. He has been a visiting professor at various universities - the University of Paris, the University of Michigan, the University of Pennsylvania, Humboldt University Berlin, the Université Libre de Bruxelles, the Université Catholique de Louvain, the University of Amsterdam, the University of Milan, Tilburg University, the University of Kiel. He was also a visiting scholar at the IMF, the Board of Governors of the Federal Reserve, the Bank of Japan and the European Central Bank. He was formerly a member of the Group of Economic Policy Analysis, advising President Barroso. He is also director of the money, macro and international finance research network of CESifo, University of Munich. He is a research fellow at the Centre for European Policy Studies in Brussels.

 

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