My research focuses on the political economy of international monetary relations, financial market development, and credit market dynamics. I am currently working on several projects analyzing and conceptualizing the role of politics in the context of lending boom (bust) episodes.

Working Papers

US Political Shocks, Global Banks, and International Financial Markets: Evidence from the 2016 Presidential Election, joint with Raphael Cunha.

Displacement and Debt: The Role of Debt in Returning to Work in the Period Following the Great Recession, joint with Robert Bednarzik and John Hisnanick.

Papers in Peer-reviewed Journals

Political Credit Cycles, with Puspa Amri, forthcoming, Economics & Politics.

The Side Effects of Central Bank Independence, with Michaël Aklin, forthcoming, American Journal of Political Science. [Replication Files and Data]

IMF Conditionality and Central Bank Independence, with Bernhard Reinsberg and Matthias Rau-Goehring, European Journal of Political Economy, Volume 59, 212 – 229. [Replication Files and Data]

Moral Hazard and Financial Crises: Evidence from US Troop Deployments,  with Michaël Aklin, International Studies Quarterly, Volume 63(1), 15-29. [NPR Coverage] [Replication Files and Data]

The 2008 Tax Rebate and US Household Debt, with John Hisnanick, Applied Economics Letters, Volume 25, Issue 9, 592– 596.

Financial Governance in the EMP, with Alexander Salhi, EuroMed Journal of Business, Volume 6, Issue 2, 253 – 271.

The EuroMediterranean Partnership – A Macroeconomic Governance Perspective, with Alexander Salhi, Journal of Common Market Studies, Volume 49, Issue 4, 871–894.

Growth Patterns in the CIS-8 – A Political Economy Approach, with Alexander Salhi and Martin Roessler, Transition Studies Review, Volume 17(4), 686 – 708.

Global Imbalances and a Trade-Finance-Nexus, with Christian Fahrholz, Journal of Financial Economic Policy, Volume 1(3), 206 – 226, (2009).

Red Star Spangled Banner –Scrutinizing the Root Causes of Financial Crisis, with Christian Fahrholz, Journal of Regulation & Risk North Asia, Volume 1(3), 119 – 124, (2009).

Working Papers and Policy Briefs

Report for the GO-EuroMed Brussels Conference 27 – 28 November 2008, with MarkFurness and Pablo Gandara, GO-EuroMed Project Final Project Report, (2008).

The Political Economy of Euro-Med Governance, with Mark Furness and Pablo Gandara, European Policy Brief, (2008).

Financial Markets, Economic Growth, and the Missing Link – A Role for the EMP?, with Alexander Salhi and Nevine Eid, Go-EuroMed MPSG Working Paper 0802, (2008).

Benign Neglect or Lost at Sea – Macroeconomic Governance in the EMP, with Alexander Salhi, Go-EuroMed MPSG Working Paper 0803, (2008).

Red Star Spangled Banner –Scrutinizing the Root Causes of Financial Crisis, with Christian Fahrholz, Working Papers on Global Financial Markets No.5, Friedrich-Schiller-University Jena, (2008).

Ain’t no Sunshine when the Boom is Gone: Questioning the Roots of Current Global Financial Crisis, (with Christian Fahrholz), Innovation and Knowledge Management in Twin Track Economies: Challenges & Solutions, 11th IBIMA conference proceedings, (2008).

Research Notes and Commentaries

Why the Fed has no choice but to keep cutting interest rates – if it wants to avoid a financial crisis, The Conversation, (2019).

Why political meddling with central banks is a terrible idea – and the Federal Reserve is no exception, The Conversation, (2019).

The Irrelevance of the European Toxic Asset Facility,, (2011).

Government Bonds will be the Next Blow,, (2011).

A Big Fat Greek Financial Wedding,, (with Christian Fahrholz), (2009).

Red Star Spangled Banner –Scrutinizing the Root Causes of Financial Crisis, (with Christian Fahrholz),, (2009).

Selling the Drama – A Research Note,, (with Christian Fahrholz), (2008).

Asking Financial Markets for a Viennese Waltz, atlantic-community-org.,  (with Christian Fahrholz), (2008).


‘Lending Booms – Stylized Facts, Critical Junctures and a Missing Political Economy Link’, Ph.D. Thesis, available upon request, (2010).

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