Richhild Moessner
Senior Economist
Monetary and Economic Department
Richhild Moessner previously worked as a senior policy adviser in the Economics and Research Division of the Dutch central bank, a senior economist and manager at the Bank of England and a senior economist in the ECB's research department, and is also a CESifo research network fellow.
Fields of interest
- Monetary policy
- Macroeconomics
- Financial stability and macroprudential issues
- " Exchange rate pass-through: what has changed since the crisis?" (with M Jašová and E Takáts), International Journal of Central Banking, September 2019. Also published as BIS Working Papers, no 583.
- " Central bank policy rate guidance and financial market functioning" (with W Nelson), International Journal of Central Banking, vol 4, no 4, December 2008, pp 193-226. Also published as BIS Working Papers, no 246.
- " What do we know about the effects of macroprudential policy?" (with G Galati), Economica, vol 85, no 340, 2018, pp 735-70. Also published as DNB Working Papers, no 440, September 2014.
- " Communication about future policy rates in theory and practice: a survey" (with J de Haan and D-J Jansen), Journal of Economic Surveys, 2017.
- " Domestic and global output gaps as inflation drivers: what does the Phillips curve tell?" (with M Jašová and E Takáts), Economic Modelling, August 2019.
- " The fiscal response to the Covid-19 crisis in advanced and emerging market economies" (with E Alberola, Y Arslan and Gong Cheng), Pacific Economic Review, August 2021.
- " Quantitative or qualitative forward guidance: Does it matter?" (with G-A Detmers and O Karagedikli), Economic Record, August 2021.
- " Effects of credit restrictions in the Netherlands on credit growth and inflation" (with G Galati and J Kakes), Financial History Review, July 2021.
- " Effects of monetary policy announcements on term premia in the euro area during the COVID-19 pandemic", (with J De Haan), Finance Research Letters, April 2021.
- " Effects of Fed policy rate forecasts on real yields and inflation expectations at the zero lower bound" (with G Galati), Economics Letters, January 2021.
- " Effects of the Fed’s enhanced swap line with the ECB on CIP deviations (with W A Allen), Applied Economics, October 2020.
- " The Discontinuation of the EUR/CHF Minimum Exchange Rate: Information from Option-Implied Break Probabilities" (with M Funke and J Loermann), Studies in Nonlinear Dynamics & Econometrics, June 2020.
- " Connecting the dots: Expected time to lift-off from the zero lower bound and policy rate forecasts by the Fed" (with M Bongard, G Galati and W Nelson), International Journal of Finance and Economics, 2019.
- " Deflation risk in the euro area and central bank credibility" (with G Galati, Z Gorgi and C Zhou), Economics Letters, vol 167, 2018, pp 124-6. Also published as " DNB Working Papers, no 509", April 2016.
- " Effects of asset purchases and financial stability measures on term premia in the euro area Applied Economics, vol 50, no 43, pp 4617-31, 2018.
- " Informal one-sided target zone model and the Swiss Franc (with Y-F Chen and M Funke), Review of International Economics, vol 26, no 5, pp 1130-53, 2018. Also published as BIS Working Papers, no 660.
- " Central bank swap lines and CIP deviations" (with W Allen, G Galati and W Nelson), International Journal of Finance and Economics, vol 22, no 4, October 2017, pp 394-402. Also published as DNB Working Papers, no 566.
- " Macroprudential policy - a literature review" (with G Galati), Journal of Economic Surveys, vol 27, no 5, 2013, pp 846-78. Also published as BIS Working Papers, no 337.
- " The international propagation of the financial crisis of 2008 and a comparison with 1931" (with W Allen), Financial History Review, vol 19, no 2, 2012, pp 123-47. Also published as BIS Working Papers, no 348.
- " Banking crises and the international monetary system in the Great Depression and now" (with W Allen), Financial History Review, vol 18, no 1, 2011, pp 1-20. Also published as BIS Working Papers, no 333.
- " Effectiveness of monetary policy in Sweden" (with J de Haan and D-J Jansen), Contemporary Economic Policy, vol 24, no 4, 2016, pp 698-709.
- " International liquidity management since the financial crisis" (with W Allen), World Economics, vol 16, no 4, 2015, pp 77-101.
- " Reactions of US government bond yields to explicit FOMC forward guidance", North American Journal of Economics and Finance, vol 33, 2015, pp 217–33.
- " Evaluating the IMF’s performance in the financial crisis" (with W Allen), Central Banking Journal, vol 25, no 3, 2015, pp 33-5.
- " Effects of ECB balance sheet policy announcements on inflation expectations", Applied Economics Letters, vol 22, no 6, 2015, pp 483-7.
- " Reactions of real yields and inflation expectations to forward guidance in the United States", Applied Economics, vol 47, no 26, 2015, pp 2671-82.
- " International spillovers from US forward guidance to equity markets", Applied Economics, vol 47, no 42, 2015, pp 4549-60.
- " Reserve creation and reserve pooling in the international monetary system" (with W Allen), World Economics, vol 15, no 2, 2014, pp 59-75.
- " Central banks as lender of last resort: experiences during the 2007-2010 crisis and lessons for the future" (with D Domanski and W Nelson), Finance and Economics Discussion Series, May 2014.
- " Inflation expectations, central bank credibility and the global financial crisis" (with P Gerlach-Kristen), Swiss Journal of Economics and Statistics, vol 150, no 2, 2014, pp 55-87.
- " Government bond yield sensitivity to economic news at the zero lower bound in Canada in comparison with the UK and US", Applied Financial Economics, vol 24, no 11, June 2014, pp 739-51.
- " Effects of explicit FOMC policy rate guidance on equities and risk measures", Applied Economics, vol 46, no 18, March 2014, pp 2139-53.
- " Effects of explicit FOMC policy rate guidance on interest rate expectations", Economics Letters, vol 121, no 2, 2013, pp 170-3.
- " Central bank swap line effectiveness during the euro area sovereign debt crisis" (with W Allen), Journal of International Money and Finance, vol 35, 2013, pp 167-78.
- " The liquidity consequences of the euro area sovereign debt crisis" (with W Allen), World Economics, vol 14, no 1, January/March 2013, pp 103-26. Also published as BIS Working Papers, no 390.
- " Collateral problems in the euro area" (with W Allen), Central Banking Journal, vol 23, no 3, February 2013, pp 30-6.
- " International liquidity provision and currency-specific liquidity shortages" (with W Allen), Journal of Financial Transformation, vol 34, 2012, pp 31-41.
- " The international liquidity crisis of 2008-09" (with W Allen), World Economics, vol 12, no 2, 2011, pp 183-98. Also published as BIS Working Papers, no 310.
- " Las crisis bancarias y el sistema monetario internacional en la Gran Depresión y en la actualidad" (with W Allen), Revista de Economía Institucional, vol 13, no 25, 2011, pp 43-87 (Spanish translation of "Banking crises and the international monetary system in the Great Depression and now").
- " The collateral squeeze of 2008" (with W Allen), Central Banking Journal, vol 21, no 3, 2011, pp 84-9.
- " Reactions of Canadian interest rates to macroeconomic announcements: implications for monetary policy transparency" (with T Gravelle), Journal of Bond Trading and Management, vol 1, July 2002, pp 27-43. Also published as Bank of Canada Working Papers, no 2001-5.
- " Over-the-counter interest rate options", Bank of England Quarterly Bulletin, summer 2001, pp 172-82.
- " News and the sterling markets" (with M Brooke and G Danton), Bank of England Quarterly Bulletin, November 1999, pp 374-83.
- " Macroprudential policy and interest rate spillovers" (with A Mehrotra), Applied Economics Letters, September 2021