Some recent policy contributions
Liechtenstein's Financial Stability Report
Since Liechtenstein does not have a national central bank, the Financial Market Authority (FMA) is legally responsible to contribute to the stability of the financial system in accordance with the Financial Market Supervision Act. In this context, the FMA has published annual Financial Stability Reports since 2018.
Financial Stability Report 2022
Work on the global trade slowdown
'Understanding the weakness in global trade: What is the new normal?', 2016,
with IRC Trade Task Force, ECB Occasional Paper, No. 178, September.
The main results were also presented in a voxEU column and a box in the ECB Economic Bulletin.
Selected empirical parts were also published in academic journals:
'The finance-trade nexus revisited: Is the global trade slowdown also a financial story?', 2017, with I. Gkrintzalis, Economics Letters, 158, 21-25.
Financial stability assessment of EU candidate countries
'Financial stability assessment of EU candidate and potential candidate countries', with
P. Macki, I. Moder, É.K. Polgár, L. Savelin and P. Żuk, 2017, ECB Occasional Paper Series No. 190.
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