Prof. Dr. Benjamin Born

Articles in peer-reviewed journals

Uncertainty-Driven Business Cycles: Assessing the Markup Channel (with Johannes Pfeifer), Quantitative Economics, forthcoming.

The New Keynesian Wage Phillips Curve: Calvo vs. Rotemberg (with Johannes Pfeifer), Macroeconomic Dynamics, 24(5), pp. 1017-–1041, July 2020.

Does Austerity Pay Off? (with Gernot Müller and Johannes Pfeifer), Review of Economics and Statistics, 102(2), pp. 323–338, May 2020.

The Costs of Economic Nationalism: Evidence from the Brexit Experiment (with Gernot Müller, Moritz Schularick, and Petr Sedlacek), Economic Journal, 129(10), pp. 2722–2744, October 2019.

Time-Varying Business Volatility and the Price Setting of Firms (with Rüdiger Bachmann, Steffen Elstner, and Christian Grimme), Journal of Monetary Economics, 101, pp. 82–99, January 2019.

Uncertainty and the Great Recession (with Sebastian Breuer and Steffen Elstner), Oxford Bulletin of Economics and Statistics, 80(5), pp. 951–971, October 2018.

Testing for Serial Correlation in Fixed-Effects Panel Data Models (with Jörg Breitung), Econometric Reviews, 35(7), pp. 1290–1316, July 2016.

Recursive Adjustment for General Deterministic Components and Improved Tests for the Cointegration Rank (with Matei Demetrescu), Journal of Time Series Econometrics 7(2), pp. 143–179, July 2015.

Risk Matters: The Real Effects of Volatility Shocks: Comment (with Johannes Pfeifer), American Economic Review 104(12), pp. 4231–4239, December 2014.

Policy Risk and the Business Cycle (with Johannes Pfeifer), Journal of Monetary Economics 68, pp. 68–85, November 2014.

Central Bank Communication on Financial Stability (with Michael Ehrmann and Marcel Fratzscher), Economic Journal 124(577), pp. 701–734, June 2014.

Fiscal News and Macroeconomic Volatility (with Alexandra Peter and Johannes Pfeifer), Journal of Economic Dynamics and Control 37(12), pp. 2582–2601, December 2013.

Exchange Rate Regimes and Fiscal Multipliers (with Falko Juessen and Gernot Müller), Journal of Economic Dynamics and Control 37(2), pp. 446–465, February 2013.

Communicating about Macroprudential Supervision - A New Challenge for Central Banks (with Michael Ehrmann and Marcel Fratzscher), International Finance 15(2), pp. 179–203, Summer 2012.

Government Spending Shocks in Quarterly and Annual Time Series (with Gernot Müller), Journal of Money, Credit and Banking 44(2–3), pp. 507–517, March-April 2012.

Simple Regression-Based Tests for Spatial Dependence (with Jörg Breitung), Econometrics Journal 14(2), pp. 330–342, July 2011.

Contributions to collected works

Expectations of firms about their own variables (with Zeno Enders and Gernot Müller), in: Rüdiger Bachmann, Giorgio Topa, and Wilbert van der Klaauw, eds., Handbook of Economic Expectations, Elsevier, in preparation.

How Should Central Banks Deal With a Financial Stability Objective? The Evolving Role of Communication as a Policy Instrument (with Michael Ehrmann and Marcel Fratzscher), in: Sylvester Eijffinger and Donato Masciandaro, eds. , Handbook of Central Banking, Financial Regulation and Supervision after the Financial Crisis, pp. 245–268, Cheltenham: Edward Elgar.

Articles in non-referenced journals

Do lockdowns work? A counterfactual for Sweden (with Alexander Dietrich and Gernot Mueller), Covid Economics 16, pp. 1–22, May 2020.

The coronavirus stimulus package: Quantifying the transfer multiplier (with Christian Bayer, Ralph Luetticke, and Gernot Müller), VoxEU.org, 24 April 2020.

Unpleasant convergence: Country spreads in advanced and emerging economies (with Gernot Müller, Johannes Pfeifer, and Susanne Wellmann), VoxEU.org, 13 March 2020.

Shocks, frictions, and inequality in US business cycles (with Christian Bayer and Ralph Luetticke), VoxEU.org, 26 February 2020.

Stable genius: Estimating the ’Trump effect’ on the US economy (with Gernot Müller, Moritz Schularick, and Petr Sedlacek), VoxEU.org, 18 July 2018.

£300 million a week: The output cost of the Brexit vote (with Gernot Müller, Moritz Schularick, and Petr Sedlacek), VoxEU.org, 28 November 2017.

Austerity pays off after all (with Gernot Müller and Johannes Pfeifer), VoxEU.org, 22 February 2015.

Withdrawal of Greece from the European Monetary Union: Historical experience, macroeconomic consequences and organisational implementation (with Teresa Buchen, Kai Carstensen, Christian Grimme, Michael Kleemann, Klaus Wohlrabe and Timo Wollmershäuser), ifo Schnelldienst 65(10), pp. 9–37, 2012.

Macroprudential supervision: Can central bank communication be an effective policy tool? (with Michael Ehrmann and Marcel Fratzscher), VoxEU.org, 29 November 2010.

Working Papers

The lockdown effect: A counterfactual for Sweden (with Alexander Dietrich and Gernot Müller), July 2020, CEPR Discussion Paper 14744.

The Coronavirus Stimulus Package: How large is the transfer multiplier? (with Christian Bayer, Ralph Luetticke, and Gernot Müller), June 2020, CEPR Discussion Paper 14600.

The Liquidity Channel of Fiscal Policy (with Christian Bayer and Ralph Luetticke), June 2020, CEPR Discussion Paper 14883.

Different no more: Country spreads in advanced and emerging economies (with Gernot Müller, Johannes Pfeifer, and Susanne Wellmann), February 2020, CEPR Discussion Paper 14392.

Shocks, Frictions, and Inequality in US Business Cycles (with Christian Bayer and Ralph Luetticke), January 2020, CEPR Discussion Paper 14364.

The Macroeconomic Impact of Trump (with Gernot Müller, Moritz Schularick, and Petr Sedlacek), January 2020, CEPR Discussion Paper 13798 (old version).

The worst of both worlds: Fiscal policy and fixed exchange rates (with Francesco D’Ascanio, Gernot Müller, and Johannes Pfeifer), October 2019, CEPR Discussion Paper 14073.

2007 – 2011    Ph.D. in Economics, University of Bonn.

2006 – 2007    M.Sc. Econometrics and Economics, University of York.

2002 – 2006    B.A./M.A. Economics, University of Siegen.

Alejandro Justiniano-Best Paper Award. Melbourne Institute Macroeconomic Policy Meetings 2019.

Best Paper Award. Fiscal Policy Seminar 2018. Organized by the Federal Ministry of Finance.

Reseach Training Group “Macroeconomics of Inequality” (1.5 million Euro), German Research Foundation (DFG) (joint with 9 colleagues from Bonn), 2018–2022.

Departmental Teaching Price for my MSc Econometrics course, Fall 2016, Department of Economics.

Research Grant (10000 Euro), “Austerity and Growth: Concepts for Europe”, SAFE Goethe University (joint with Gernot Müller and Johannes Pfeifer), 2014.

Grant from Fritz Thyssen Foundation for workshop “Mannheim Workshop in Quantitative Macroeconomics” (joint with Georg Dürnecker, Sang Yoon Lee, and Cezar Santos), 2013.

Fontana Foundation Publication Award 2012, 2013, 2014.

Full four year Ph.D. scholarship, German Research Foundation (DFG), 2007–2011.

Best graduate award, Department of Economic Disciplines, University of Siegen, 2006.

2017 – today Committee on Macroeconomics, German Economic Association, Member

2017 – today Committee on Monetary Economics, German Economic Association, Member

2015 – Department of Economics, University of Notre Dame (April)

2009 – Monetary Policy Research Division, European Central Bank (September-December)

2016 – today Macroeconomic Dynamics, Associate Editor

2017 – 2019 Economic Policy, Panel Member

2015 – today Centre for Economic Policy Research (CEPR), London, Research Affiliate

2012 – today CESifo Research Network, Munich, Research Fellow (Affiliate until 2019)

2011 – today Euro Area Business Cycle Network (EABCN), Network Member

Frankfurt

Bachelor: Macroeconomics (Fall 2018, 2019, Spring 2020).
Bocconi EMBA: Global Economy (Fall 2019).

Bonn

PhD: Topics Course “New Approaches in Structural Macroeconometrics” (Fall 2017). Master: Econometrics (Fall 2015, 2016, 2017).
Master/PhD: Dynamic Macroeconomics (Spring 2016, 2017, 2018).
Master/PhD: Time Series Econometrics (Spring 2016, 2017, 2018). Master: Project Module “Uncertainty and Volatility” (Fall 2016).
Master: Project Module “Financial Frictions and Macroeconomic Asymmetries” (Fall 2015).

Mannheim

PhD: Topics in Business Cycles I/II (2013-2015).
Master: Fiscal Policy (Spring 2013, Spring 2014).
Bachelor: Intermediate Macroeconomics (Fall 2012-2014).