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Working papers

• Should Monetary Policy Lean Against the Wind? Quasi-Experimental Evidence from Federal Reserve Policies in 1920-21. 
  • Download paper: here
  • Awards: Theodor Körner Prize 2019, ESRB Ieke van den Burg Prize 2019 (shortlisted)
  • Media: Der Standard – Ökonomieblog (economics blog): “Warum Wirtschaftsgeschichte sexy ist” (in German; “Why economic history is sexy”), 21 May 2019.
  • Graphs: My JMP in maps

• A Historic(al) Run on Repo: Causes of Bank Distress during the Austro-Hungarian Gründerkrach of 1873 
  • Download dissertation: here
  • Awards: EHS New Researcher Prize 2017, EHA Alexander Gerschenkron Prize 2018, Michael Mitterauer Prize 2018
  • Summary: The Journal of Economic History 79, no. 2 (2019): 507-542.

• Haunting the Specter of Credit Rationing: Unconventional Last Resort Lending during the Austro-Hungarian Gründerkrach of 1873
  • Download dissertation: here
  • Awards: EHA Alexander Gerschenkron Prize 2018, Michael Mitterauer Prize 2018
  • Summary: The Journal of Economic History 79, no. 2 (2019): 507-542.

• Managing Moral Hazard in Last Resort Lending: Credit Limits as Contingent Rules at the Austro-Hungarian Bank (with C. Jobst, University of Vienna)
  • Download dissertation: here
  • Awards: EHA Alexander Gerschenkron Prize 2018, Michael Mitterauer Prize 2018
  • Summary: The Journal of Economic History 79, no. 2 (2019): 507-542.

• Mechanics and Effects of Central Bank Credit Rationing: Quasi-experimental Evidence from the Bank of England’s Lending Policies during the Crisis of 1847 (with M. Anson, D. Bholat and T. Ryland, all Bank of England)
  • Download paper: currently under revision

• Was there a Farm Channel to the Great Depression in the United States? New Evidence from County-Level Data on Farm Foreclosures (with T. E. Messner, UC Berkeley)
  • Download paper: currently under revision

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Ongoing Research Projects

• Who Talks During Monetary Policy Quiet Periods, and Why? Evidence from the European Central Bank’s Governing Council (with P. Gnan, WU Vienna)
  • Download paper: ongoing project

• The Vienna Real Estate Market, 1868-1990: The first long-run real estate price index for Austria (running 2018-2020, with M. Lampe, WU Vienna, C. Jobst, University of Vienna, and K. Wagner, Oesterreichische Nationalbank)
  • Project homepage: link