Global macroeconomics

The same financial shock can produce very different economic outcomes. Understanding why means looking beneath aggregate indicators at the monetary arrangements, financial institutions and policy choices that connect markets with economic activity. That connection sits at the center of my work in global macroeconomics.

Measurement is part of the question. Research on economic slack in the eurozone examines how we assess an economy's room to grow. Work on derivatives, bank loan quality and exchange rate valuation explores the financial channels through which risks and incentives take shape. Analysis of Japan adds a perspective on monetary policy and its international setting.

Together, these strands ask how the architecture of finance influences economic adjustment. This page connects academic research, institutional analysis and public discussion so readers can follow an idea across different methods, markets and moments, and return to the original evidence.