Policy Briefs • Blogs • Talks
Selected policy-relevant outputs connecting research and central banking practice — including policy briefs, blogs, research and policy notes, and invited talks.
Policy Contributions
— Monetary policy transmission via banks to firms
(with Carlo Altavilla, Margherita Bottero, Björn Imbierowicz, Jorge Abad, Sofia Anyfantaki, Konstantīns Beņkovskis, Sebastian Bredl, Lorenzo Burlon, Tomas Carrera de Souza, Tommaso Gasparini, Massimo Giovannini, Zuzana Gric, Franziska Maruhn, Alessandro Modica, Giulio Nicoletti, Aino Silvo, and Kārlis Vilerts)
ECB Occasional Paper Series No. 389, July 2026
— Flight from the Front Line: Geopolitical Risk, Distance, and Capital Flow Dynamics
(with Martin Hodula and Jan Janků)
CNB Research Brief 1/2026, March 2026
— Climate Risk and Sovereign Yields: Why Fiscal Space and Development Status Matter
(with Sofia Anyfantaki, Marianna Blix Grimaldi, Carlos Madeira, and Georgios Papadopoulos)
SUERF Policy Brief No. 1256, September 2025
— Transmission of Liquidity Shocks through Non-Bank Financial Intermediaries: Evidence from the International Banking Research Network
(Falko Fecht and Linda S. Goldberg; contribution to the projects)
VOXU / CEPR Column, 5 August 2025
— Less theory, more reality: Semi-structural models have a lot to offer
(with Stanislav Tvrz)
cnBlog (May 13, 2025), Czech National Bank
— Geopolitical Risks and Their Impact on Global Macro-Financial Stability: Literature and Measurements
(with Martin Hodula, Jan Janků, and Ngoc Anh Ngo)
SUERF Policy Brief No. 1057, December 2024
— Borrower-Based Macroprudential Measures and Credit Growth: How Biased is the Existing Literature?
(with Martin Hodula, Zuzana Gric, and Josef Bajzík)
SUERF Policy Brief No. 827, March 2024
— Macroprudential Policy in Central Banks: Integrated or Separate? Survey Among Academics and Central Bankers
(with Martin Hodula, Zuzana Gric, Josef Bajzík)
CNB Research and Policy Note 4/2021, March 2022
— Researching the Research: A Central Banking Edition
(with Martin Hodula, Zuzana Rakovská)
CNB Research and Policy Note 3/2020, February 2021
— A Prolonged Period of Low Interest Rates: Unintended Consequences
(with Josef Bajzík, Dominika Ehrenbergerová, Jan Janků)
CNB Research and Policy Note 2/2020, January 2021
— How to Organize Research in Central Banks: The Czech National Bank’s Experience
CNB Research and Policy Note 1/2020, August 2020
Talks
— Geopolitical Risks, Proximity and Cross-border Adjustments — Presentation
SUERF–BAFFI Bocconi e-lecture: Financial Stability Risks from Geoeconomic Fragmentation, March 2026
— Macroprudential Policy and Income Inequality: Trade-off Between Crisis Prevention and Credit Redistribution — Presentation
46th Macroprudential Policy Group (MPPG) Meeting, February 2026
— Geopolitical Risks: Facing the Challenges and Finding Opportunities — Panelist
3rd Durham–Bristol Banking Policy Forum, October 2025
— Research and Policy Coordination in a Changing World — Keynote speech
Czech National Bank Research Open Day 2023
Media
— Dark corners: the renewed push for risk-based monetary policy
Quoted in Central Banking article by Daniel Hinge, 24 April 2026