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Research Interests

Macroeconomics, international finance, behavioral economics, with a special interest in transparency of monetary policy


"Monetary Policy Transparency", in: Jens Forssbæck and Lars Oxelheim (eds., 2014), The Oxford Handbook of Economic and Institutional Transparency, chapter 3, Oxford University Press [Working paper]

"Transparency, Flexibility and Macroeconomic Stabilization", in: Pierre Siklos and Jan-Egbert Sturm (eds., 2013), Central Bank Communication, Decision-Making and Governance - The Issues, Challenges, and Case Studies, chapter 3, CESifo and MIT Press [extended version]

"Review of IMF Research on Monetary Policy Frameworks" (with Kenneth Kuttner and Refet Gürkaynak), IEO Background Paper BP/11/02, May 2011 [for IMF Independent Evaluation Office (IEO) Evaluation Report "Research at the IMF: Relevance and Utilization", 2011; press release]

"Talking Numbers: Central Bank Communications on Monetary Policy and Financial Stability", in: European Central bank (2011), Central Bank Statistics - What Did the Financial Crisis Change?, proceedings of the Fifth ECB Conference on Statistics, pp. 162-179.

"Price and Financial Stability: Dual or Duelling Mandates?", in: Oesterreichische Nationalbank (2010), Central Banking after the Crisis, proceedings of the 38th Economics Conference of the Oesterreichische Nationalbank "Central banking after the crisis: Responsibilities, Strategies, Instruments", pp. 56-63.

Full List of Publications>>

Recent Activities

Why Communications Should be Transparent
Dr Petra Geraats outlines her work on a new code for transparency, in a call for openness published by the International Monetary Fund.
Published on - Tuesday 23rd March 2021

Report: Contribution to Strategy Review of European Central Bank
Dr. Petra Geraats's contribution to the strategy review of the European Central Bank (ECB) has been published in a report by the Institute for Monetary and Financial Stability (IMFS) in Frankfurt.
Published on - Wednesday 6th January 2021

Lessons from the Financial Crisis, Debt Crisis and Coronavirus Crisis
Dr. Petra Geraats gave an invited presentation on "The ECB's Monetary Strategy: Lessons from the Financial Crisis, Debt Crisis and Coronavirus Crisis" at the conference "The ECB and Its Watchers" at Goethe University in Frankfurt on 30th September 2020. The conference forms part of the monetary policy strategy review that the European Central Bank (ECB) launched on 23rd January 2020.
Published on - Friday 2nd October 2020

IMF Publishes New Central Bank Transparency Code
As part of a High-Level Advisory Panel, Dr. Petra Geraats helped shape a new Central Bank Transparency Code, which has been published by The International Monetary Fund (IMF). The new Code, which has been approved by the IMF's Executive Board, replaces the IMF's Monetary and Financial Policies Transparency Code from 1999.
Published on - Tuesday 29th September 2020

How Do Central Banks Communicate Effectively?
Dr. Petra Geraats was a speaker at the High-Level Peer-to-Peer Forum "Central Bank Communications in ASEAN-5 Countries: From Principles to Practice" organized by the International Monetary Fund (IMF) in Singapore on 4th-5th December 2019.
Published on - Thursday 2nd January 2020


PIIA Paper 2 - Lent - International Macroeconomics
PIIA Paper 2 - Lent - Monetary Economics
PIIB Paper 2 - Michaelmas - Macroeconomic Policy
Diploma Paper 2 - Macroeconomics
MPhil E200 - Macroeconomics

PhD Students


Tacye Hong
PhD Title:

Dr Petra Geraats

University Senior Lecturer

Research Group:

CV: Curriculum Vitae

Contact Details
Room: 65
Office Hours: On sabbatical leave for Easter Term 2021
College: Fellow of St John's College