Working papers
Financial Stability Policies and Bank Lending: Quasi-Experimental Evidence from Federal Reserve Interventions in 1920-21
- Download paper: here
- Download online appendix: here
- Forthcoming as: ESRB Working Paper 113/2020
- 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.
- Previous version circulated with the title: “Should Monetary Policy Lean Against the Wind? Quasi-Experimental Evidence from Federal Reserve Policies in 1920-21”
What You Owe or Who You Know? The Recipients of Central Bank Liquidity during the English Crisis of 1847
- With M. Anson, D. Bholat and T. Ryland, all Bank of England
- Download paper: here (submitted)
- Media: VoxEU CEPR Policy Portal: What we may learn from historical financial crises to understand and mitigate COVID-19 panic buying, 20 April 2020.
- An earlier and substantially different version of this paper was published as a Bank of England Staff Working Paper (Staff Working Paper No. 794, 4/2019). Download the SWP: here
Who Talks During Monetary Policy Quiet Periods, and Why? Evidence from the European Central Bank’s Governing Council
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 by authors
- Media: VoxEU CEPR Policy Portal: What we may learn from historical financial crises to understand and mitigate COVID-19 panic buying, 20 April 2020.
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 (finalist), 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 (finalist), 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 (finalist), Michael Mitterauer Prize 2018
- Summary: The Journal of Economic History 79, no. 2 (2019): 507-542.
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. Messer, UC Berkeley
- Download paper: currently revising paper
Ongoing Research Projects
The Vienna Real Estate Market, 1868-1990: The First Long-run real estate price index for Austria (running 2018-2021)
- With M. Lampe, WU Vienna, C. Jobst, University of Vienna, and K. Wagner, Oesterreichische Nationalbank), running 2018-2021
- Financial support by the OeNB Anniversary Fund
- Project homepage: link
Financial Network Topology and Historical Market Crashes: Evidence from the Austro-Hungarian Gründerkrach of 1873
- Financial support by the science and research funding arm of the City of Vienna, running 2020-2021
