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Maximilian Freier

European Central Bank (ECB)

Sonnemannstrasse 22

Frankfurt am Main, 60314

Germany

  • European Central Bank (ECB)

SCHOLARLY PAPERS

10

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Top 21,425

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42

Scholarly Papers (10)

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1.

The Economic Impact of Next Generation EU: A Euro Area Perspective

ECB Occasional Paper No. 2022/291
Number of pages: 59 Posted: 28 Apr 2022 Last Revised: 13 Jun 2022
Krzysztof Bańkowski, Othman Bouabdallah, João Domingues Semeano, Ettore Dorrucci, Maximilian Freier, Pascal Jacquinot, Wolfgang Modery, Marta Rodríguez Vives, Vilém Valenta and Nico Zorell
European Central Bank (ECB), European Central Bank (ECB), Independent, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB) and European Central Bank (ECB)
Downloads 859 (71,322)
Citation 7

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Next Generation EU (NGEU), public investment, Recovery and Resilience Facility (RRF), structural reform

2.

Monetary Policy Tech: A primer to novel techniques for monetary policy analysis and business processes

Number of pages: 25 Posted: 16 Dec 2025
Maximilian Freier and Douglas Araujo
European Central Bank (ECB) and Banco Central do Brasil
Downloads 509 (148,764)

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Monetary policy, Central Banking, Artificial Intelligence, Large Language Models. JEL codes: E52, C53, C45, C55, D83

3.

Quantitative Easing and the Price-Liquidity Trade-Off

Downloads 339 (221,994)
Citation 14

Quantitative Easing and the Price-Liquidity Trade-Off

ECB Working Paper No. 20202399
Number of pages: 35 Posted: 04 May 2020
M. Ferdinandusse, Maximilian Freier, Annukka Ristiniemi and Annukka Ristiniemi
European Central Bank (ECB), European Central Bank (ECB) and Sveriges RiksbankParis School of Economics (PSE)
Downloads 211 (362,658)
Citation 6

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asset purchases, liquidity, search and matching

Quantitative Easing and the Price-Liquidity Trade-Off

Sveriges Riksbank Working Paper Series No. 335, Riksbank Research Paper Series No. 159
Number of pages: 42 Posted: 08 Mar 2017
M. Ferdinandusse, Maximilian Freier, Annukka Ristiniemi and Annukka Ristiniemi
European Central Bank (ECB), European Central Bank (ECB) and Sveriges RiksbankParis School of Economics (PSE)
Downloads 128 (566,977)
Citation 8

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Quantitative Easing, Liquidity, Search and Matching

4.

Inflation, Fiscal Policy and Inequality

ECB Occasional Paper No. 2023/330
Number of pages: 42 Posted: 17 Oct 2023
Antonio F. Amores, Henrique S. Basso, Johannes Simeon Bischl, Paola De Agostini, Silvia De Poli, Emanuele Dicarlo, Maria Flevotomou, Maximilian Freier, Sofía Maier, Esteban García-Miralles, Myroslav Pidkuyko, Mattia Ricci and Sara Riscado
Joint Research Center of the European Commission, Banco de España, European Central Bank (ECB), Joint Research Center of the European Commission, Joint Research Center of the European Commission, Bank of Italy, Bank of Greece, European Central Bank (ECB), European Commission - Joint Research Centre, Banco de España, Banco de España, Joint Research Center of the European Commission and Bank of Portugal
Downloads 322 (234,399)
Citation 5

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distributional effect, EUROMOD, fiscal policy, inflation, welfare effect

5.

A Fiscal Capacity For the Euro Area: Lessons from Existing Fiscal-Federal Systems

Downloads 224 (346,707)
Citation 16

A Fiscal Capacity For the Euro Area: Lessons from Existing Fiscal-Federal Systems

Banco de Espana Occasional Paper No. 2009
Number of pages: 58 Posted: 02 Jun 2020
Pablo Burriel, Panagiotis Chronis, Maximilian Freier, Sebastian Hauptmeier, Lukas Reiss, Dan Stegarescu and Stefan Van Parys
Banco de España, Bank of Greece - Economic Research Department, European Central Bank (ECB), European Central Bank (ECB) - Directorate General Economics, Oesterreichische Nationalbank (OeNB), Center for European Economic Research (ZEW) and International Monetary Fund (IMF)
Downloads 149 (506,124)
Citation 16

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euro area fiscal capacity, fiscal risk-sharing, fiscal federalism.

A Fiscal Capacity for the Euro Area: Lessons from Existing Fiscal-Federal Systems

ECB Occasional Paper No. 239
Number of pages: 58 Posted: 08 Apr 2020
Pablo Burriel, Panagiotis Chronis, Maximilian Freier, Sebastian Hauptmeier, Lukas Reiss, Dan Stegarescu and Stefan Van Parys
Banco de España, Bank of Greece - Economic Research Department, European Central Bank (ECB), European Central Bank (ECB) - Directorate General Economics, Oesterreichische Nationalbank (OeNB), Center for European Economic Research (ZEW) and International Monetary Fund (IMF)
Downloads 75 (855,765)

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euro area fiscal capacity, fiscal federalism, fiscal risk-sharing

6.

Fiscal Drag in Theory and in Practice: A European Perspective

Downloads 175 (433,279)

Fiscal Drag in Theory and in Practice: A European Perspective

ECB Working Paper No. 2025/3136
Number of pages: 113 Posted: 10 Oct 2025
Esteban García-Miralles, Maximilian Freier, Sara Riscado, Chrysa Leventi, Alberto Mazzon, Glenn Abela, Laura Boyd, Baiba Brusbārde, Marion Cochard, David Cornille, Emanuele Dicarlo, Ian Debattista, Mar Delgado-Téllez, Mar Delgado-Téllez, Mathias Dolls, Ludmila Fadejeva, Maria Flevotomou, Florian Henne, Alena Bachleitner, Viktor Jászberényi-Király, Max Lay, Laura Lehtonen, Mauro Mastrogiacomo, Tara McIndoe Calder, Mathias Moeser, Martin Nevický, Andreas Peichl, Myroslav Pidkuyko, Mojca Roter, Frederique Savignac, Andreja Strojan Kastelec, Vaidotas Tuzikas, Nikos Ventouris and Lara Wemans
Banco de España, European Central Bank (ECB), Bank of Portugal, Joint Research Center of the European Commission, Joint Research Center of the European Commission, Central Bank of Malta, Central Bank of Ireland, Latvijas Banka, Banque de France, National Bank of Belgium, Bank of Italy, Central Bank of Malta, Banco de EspañaBanco de España, - Ifo Institute, Latvijas Banka, Bank of Greece, Banque Centrale du Luxembourg, Office of the Fiscal Advisory Council, Magyar Nemzeti Bank, - Ifo Institute, De Nederlandsche Bank, De Nederlansdche Bank (DNB), Central Bank of Ireland, Oesterreichische Nationalbank (OeNB), National Bank of Slovakia, CESifo (Center for Economic Studies and Ifo Institute), Banco de España, Bank of Slovenia, Banque de France, Bank of Slovenia, Bank of Lithuania, Bank of Greece - Economic Research Department and Bank of Portugal
Downloads 107 (658,807)

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bracket creep, indexation, inflation, personal income tax

Fiscal Drag in Theory and in Practice: A European Perspective

CESifo Working Paper No. 12192
Number of pages: 113 Posted: 17 Oct 2025
Esteban García-Miralles, Maximilian Freier, Sara Riscado, Chrysa Leventi, Alberto Mazzon, Glenn Abela, Laura Boyd, Baiba Brusbārde, Marion Cochard, David Cornille, Emanuele Dicarlo, Ian Debattista, Mar Delgado Téllez, Mathias Dolls, Ludmila Fadejeva, Maria Flevotomou, Florian Henne, Alena Harrer-Bachleitner, Viktor Jászberényi-Király, Max Lay, Laura Lehtonen, Mauro Mastrogiacomo, Tara McIndoe Calder, Mathias Moeser, Martin Nevický, Andreas Peichl, Myroslav Pidkuyko, Mojca Roter, Frederique Savignac, Andreja Strojan Kastelec, Vaidotas Tuzikas, Nikos Ventouris and Lara Wemans
Banco de España, European Central Bank (ECB), Bank of Portugal, Joint Research Center of the European Commission, Joint Research Center of the European Commission, Central Bank of Malta, Central Bank of Ireland, Latvijas Banka, Banque de France, National Bank of Belgium, Bank of Italy, Central Bank of Malta, Banco de España, - Ifo Institute, Latvijas Banka, Bank of Greece, Banque Centrale du Luxembourg, Office of the Austrian Fiscal Council, Magyar Nemzeti Bank, - Ifo Institute, De Nederlandsche Bank, De Nederlansdche Bank (DNB), Central Bank of Ireland, Oesterreichische Nationalbank (OeNB), National Bank of Slovakia, CESifo (Center for Economic Studies and Ifo Institute), Banco de España, Bank of Slovenia, Banque de France, Banka Slovenije, Bank of Lithuania, Bank of Greece - Economic Research Department and Bank of Portugal
Downloads 68 (912,349)

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Personal income tax, inflation, indexation, bracket creep

7.

Towards a Single Fiscal Performance Indicator

ECB Occasional Paper No. 2022/288
Number of pages: 41 Posted: 12 Jan 2022
Nicholai Benalal, Maximilian Freier, Wim Melyn, Stefan Van Parys and Lukas Reiss
European Central Bank (ECB), European Central Bank (ECB), National Bank of Belgium, National Bank of Belgium and Oesterreichische Nationalbank (OeNB)
Downloads 80 (803,225)

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EMU, euro area, fiscal governance, Stability and Growth Pact.

8.

Fiscal Drag in Theory and Practice: A European Perspective

NBB WP No. 483
Number of pages: 118 Posted: 18 Dec 2025
Esteban García-Miralles, Maximilian Freier, Sara Riscado, Alberto Mazzon, Glenn Abela, Laura Boyd, Baiba Brusbārde, Marion Cochard, David Cornille, Emanuele Dicarlo, Ian Debattista, Mar Delgado-Téllez, Mar Delgado-Téllez, Mathias Dolls, Ludmila Fadejeva, Maria Flevotomou, Florian Henne, Alena Harrer-Bachleitner, Viktor Jászberényi-Király, Max Lay, Laura Lehtonen, Mauro Mastrogiacomo, Tara McIndoe Calder, Mathias Moeser, Martin Nevický, Andreas Peichl, Myroslav Pidkuyko, Mojca Roter, Frederique Savignac, Andreja Strojan Kastelec, Vaidotas Tuzikas, Nikos Ventouris and Lara Wemans
Banco de España, European Central Bank (ECB), Bank of Portugal, Joint Research Center of the European Commission, Central Bank of Malta, Central Bank of Ireland, Latvijas Banka, Banque de France, National Bank of Belgium, Bank of Italy, Central Bank of Malta, Banco de EspañaBanco de España, - Ifo Institute, Latvijas Banka, Bank of Greece, Banque Centrale du Luxembourg, Office of the Austrian Fiscal Council, Magyar Nemzeti Bank, - Ifo Institute, De Nederlandsche Bank, VU University Amsterdam, Central Bank of Ireland, Oesterreichische Nationalbank (OeNB), National Bank of Slovakia, CESifo (Center for Economic Studies and Ifo Institute), Banco de España, Bank of Slovenia, Banque de France, Banka Slovenije, Bank of Lithuania, Bank of Greece - Economic Research Department and Bank of Portugal
Downloads 67 (916,100)

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personal income tax, inflation, indexation, bracket creep

9.

Fiscal Drag In Theory And In Practice: A European Perspective

Banco de Espana Working Paper No. 2545
Number of pages: 58 Posted: 31 Mar 2026 Last Revised: 14 Apr 2026
Esteban García-Miralles, Maximilian Freier, Sara Riscado, Chrysa Leventi, Alberto Mazzon, Glenn Abela, Laura Boyd, Baiba Brusbārde, Marion Cochard, David Cornille, Emanuele Dicarlo, Ian Debattista, Mar Delgado-Téllez, Mar Delgado-Téllez, Mathias Dolls, Ludmila Fadejeva, Maria Flevotomou, Florian Henne, Alena Harrer-Bachleitner, Viktor Jászberényi-Király, Laura Lehtonen, Mauro Mastrogiacomo, Tara McIndoe Calder, Mathias Moeser, Martin Nevický, Andreas Peichl, Max Lay, Myroslav Pidkuyko, Mojca Roter, Frederique Savignac, Andreja Strojan Kastelec, Vaidotas Tuzikas, Nikos Ventouris and Lara Wemans
Banco de España, European Central Bank (ECB), Bank of Portugal, Joint Research Center of the European Commission, Joint Research Center of the European Commission, Central Bank of Malta, Central Bank of Ireland, Latvijas Banka, Banque de France, National Bank of Belgium, Bank of Italy, Central Bank of Malta, Banco de EspañaBanco de España, - Ifo Institute, Latvijas Banka, Bank of Greece, Banque Centrale du Luxembourg, Office of the Austrian Fiscal Council, Magyar Nemzeti Bank, De Nederlandsche Bank, VU University Amsterdam, Central Bank of Ireland, Oesterreichische Nationalbank (OeNB), National Bank of Slovakia, CESifo (Center for Economic Studies and Ifo Institute), - Ifo Institute, Banco de España, Bank of Slovenia, Banque de France, Banka Slovenije, Bank of Lithuania, Bank of Greece - Economic Research Department and Bank of Portugal
Downloads 27 (1,372,601)

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10.

Fiscal Drag in Theory and in Practice: a European Perspective

Number of pages: 116 Posted: 06 Oct 2025
Esteban García-Miralles, Maximilian Freier, Sara Riscado, Chrysa Leventi, Alberto Mazzoni, Glenn Abela, Laura Boyd, Baiba Brusbārde, Marion Cochard, David Cornille, Emanuele Dicarlo, Ian Debattista, Mar Delgado-Téllez, Mar Delgado-Téllez, Mathias Dolls, Ludmila Fadejeva, Maria Flevotomou, Florian Henne, Alena Harrer-Bachleitner, Viktor Jaszberenyi-Kiraly, Max Lay, Laura Lehtonen, Mauro Mastrogiacomo, Tara McIndoe Calder, Mathias Moeser, Martin Nevický, Andreas Peichl, Myroslav Pidkuyko, Mojca Roter, Frederique Savignac, Andreja Strojan Kastelec, Vaidotas Tuzikas, Nikos Ventouris and Lara Wemans
Banco de España, European Central Bank (ECB), Bank of Portugal, Joint Research Center of the European Commission, Catholic University of Milan, Central Bank of Malta, Central Bank of Ireland, Latvijas Banka, Banque de France, National Bank of Belgium, Bank of Italy, affiliation not provided to SSRN, Banco de EspañaBanco de España, - Ifo Institute, Latvijas Banka, Bank of Greece, Banque Centrale du Luxembourg, Office of the Austrian Fiscal Council, affiliation not provided to SSRN, - Ifo Institute, De Nederlandsche Bank, VU University Amsterdam, Central Bank of Ireland, Oesterreichische Nationalbank (OeNB), National Bank of Slovakia, CESifo (Center for Economic Studies and Ifo Institute), Banco de España, Bank of Slovenia, Banque de France, Banka Slovenije, Bank of Lithuania, Bank of Greece - Economic Research Department and affiliation not provided to SSRN
Downloads 25 (1,399,036)

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Personal income tax, Inflation, Indexation, Bracket creep