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Macroeconomics, monetary policy and behavioral economics, with a special interest in central bank transparency.


"Trends in Monetary Policy Transparency: Further Updates" (with Nergiz Dincer and Barry Eichengreen), International Journal of Central Banking 18(1), March 2022, pp. 331-348.

"The ECB's Monetary Policy Strategy: Lessons from the Financial Crisis, Debt Crisis and Coronavirus Crisis", in: Volker Wieland (ed. 2020), Contributions to the Strategy Review of the European Central Bank: A Report from The ECB and Its Watchers XXI Conference, IMFS Interdisciplinary Studies in Monetary and Financial Stability 1/2020,  pp. 79-91, Institute for Monetary and Financial Stability.

"Independent Evaluation of the Monetary Policy and Financial Stability Policy of the Central Bank of Chile" (with Karnit Flug, Guillermo Calvo, Donald Kohn and Enrique Mendoza, 2019), Central Bank of Chile.

"Transparency of Monetary Policy in the Postcrisis World" (with Nergiz Dincer and Barry Eichengreen), in: David Mayes, Pierre Siklos and Jan-Egbert Sturm (eds. 2019), The Oxford Handbook of the Economics of Central Banking, chapter 10, Oxford University Press.

"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.

"ECB Credibility and Transparency", in: Marco Buti, Servaas Deroose, Vítor Gaspar and João Nogueira Martins (eds., 2010), The Euro - The First Decade, chapter 6, European Commission and Cambridge University Press. [Working paper]

"Trends in Monetary Policy Transparency", International Finance 12(2), Summer 2009, pp. 235-268. [Working paper]

"Transparency and Governance" (with Francesco Giavazzi and Charles Wyplosz), Monitoring the European Central Bank (MECB) Report 6, Centre for Economic Policy Research (CEPR), February 2008. [Press release; presentation slides and handout]

"The Mystique of Central Bank Speak", International Journal of Central Banking 3(1), March 2007, pp. 37-80.

"Transparency of Monetary Policy: Theory and Practice", CESifo Economic Studies 52(1), March 2006, pp. 111-152.

"How Transparent Are Central Banks?" (with Sylvester Eijffinger), European Journal of Political Economy 22(1), March 2006, pp. 1-21. [Unabridged working paper; data]

"Transparency and Reputation: The Publication of Central Bank Forecasts", Topics in Macroeconomics 5(1), Article 1, February 2005, pp. 1-26. [Available via B.E. Press, or as working paper]

"An Independent Review of Monetary Policymaking in Norway" (with Hilde Bjørnland, Thomas Ekeli and Kai Leitemo), Norges Bank Watch Report Series 5, April 2004, Centre for Monetary Economics (CME), BI Norwegian School of Management. [Executive Summary]

"Central Bank Transparency", Economic Journal 112 (483), November 2002, pp. F532-F565. [Available via Blackwell, or as working paper]

"Instructor's Manual Accompanying Introduction to Classical Econometric Theory by Paul A. Ruud'' (with Paul Ruud, forthcoming), Oxford University Press. [web site]

"Shareholders' Choice'' (with Hans H. Haller), Journal of Economics 68 (2), June 1998, pp. 111-135. [Available via Springer]

Working Papers

"Anticipated Monetary Policy and Central Bank Communications" (with Simon Lloyd), work in progress.

"The Effect of Inflation Targeting: A Mean-Reverting Mirage?", February 2014.

"Commitment, Transparency and Monetary Policy'', May 2007 (revision of Bundesbank Discussion Paper 12/01, September 2001).

"Political Pressures and Monetary Mystique", May 2007 (revision of Cambridge Working Papers in Economics (CWPE) 0557, December 2005).

"Does Central Bank Transparency Reduce Interest Rates?" (with Sylvester Eijffinger and Carin van der Cruijsen), April 2006 (revision of CEPR Discussion Paper 5526, March 2006).

"Intertemporal Substitution and Hyperbolic Discounting", April 2006 (revision of Cambridge Working Papers in Economics (CWPE) 0515, April 2005).

"Modeling Stochastic Relative Preferences", June 2005 (revision of Cambridge Working Papers in Economics (CWPE) 0468, November 2004).

"Inflation and Its Variation: An Alternative Explanation'', October 2006 (revision of CIDER Working Paper C99-105, Department of Economics, University of California, Berkeley, July 1999). 

"To Quit or not to Quit: A Country's Decision to Leave an Exchange-Rate Mechanism'' (with Gianluca Benigno and Marcelo Sanchez), mimeo, September 1998. 


Dr Petra Geraats

University Associate Professor

Research Group:

CV: Curriculum Vitae

Contact Details
Room: 65
Office Hours: Tuesdays 2:30-3:30pm during Full Term
College: Fellow of St John's College