Robert Vermeulen



Financial Stability Division
Phone +31 20 5243228
Email Robert Vermeulen  


2010 – Ph.D. Economics, University of Luxembourg and Maastricht University, dissertation: Essays on International Financial Integration   
2007 – M.Phil. Economic and Financial Integration, Maastricht University, Thesis: The Impact of Trade and Financial Liberalization on Stock Market Comovement
2005 – B.Sc. Economics, specialization International Economic Studies, Maastricht University

Working papers

Vermeulen, R., Schets, E., Lohuis, M., Kölbl, B., Jansen, D., Heeringa, W., 2019. The Heat is on: A Framework for Measuring Financial Stress under Disruptive Energy Transition Scenarios. DNB Working Paper No. 625, February 2019. Download

De Haan, L., Vermeulen, R., 2018. The impact of sovereign debt ratings on euro area cross-border holdings of euro area sovereign debt. DNB Working Paper No. 620, December 2018. Download

Quantitative easing and preferred habitat investors in the euro area bond market (with M. Boermans), DNB Working Paper No. 586, March 2018. Download

Publications in refereed journals

Boermans, M.A., and Vermeulen, R. (2020), International investment positions revisited: Investor heterogeneity and individual security characteristics, Review of International Economics 28(2), 466-496. Download

Staehr, K. and Vermeulen, R. (2019), How competitiveness shocks effect macroeconomic performance across euro area countries. The World Economy 42(1), 68-66. Download

Vašíček, B., D. Žigraiová, M. Hoeberichts, R. Vermeulen, K. Šmídková and J. de Haan (2017), Leading indicators of financial stress: New evidence. Journal of Financial Stability 28, 240-257. Download

Bijlsma, M. and R. Vermeulen (2016), Insurance companies' trading behaviour during the European sovereign debt crisis: Flight home or flight to quality? Journal of Financial Stability 27, 137–154. Download

Boermans, M. and Vermeulen, R. (2016), Newton meets Van Leeuwenhoek: Identifying international investors' common currency preferences, Finance Research Letters 17, 62–65. Download

Vermeulen, R., M. Hoeberichts, B. Vašíček, D. Žigraiová, K. Šmídková and J. de Haan (2015), Financial stress indexes and financial crises, Open Economies Review 26(3), 383-406. Download

Kosse, A. and R. Vermeulen (2014), Migrants' choice of remittance channel: Do General payment habits play a role?, World Development 62, 213-227. Download

Vermeulen, R. and J. de Haan (2014), Net foreign asset (com)position: Does financial development matter?, Journal of International Money and Finance 43, 88-106. Download

Grammatikos, T., and R. Vermeulen (2014), The 2007-2009 financial crisis: Changing market dynamics and the impact of credit supply and aggregate demand sensitivity, Applied Economics 46(8), 895–911. Download

Vermeulen, R. (2013), International diversification during the financial crisis: A blessing for equity investors?, Journal of International Money and Finance 35, 104-123. Download

Beine, M., E. Lodigiani, and R. Vermeulen (2012), Remittances and financial openness, Regional Science and Urban Economics 42(5), 844-857. Download

Grammatikos, T., and R. Vermeulen (2012), Transmission of the financial and sovereign debt crises to the EMU: Stock prices, CDS spreads and exchange Rates, Journal of International Money and Finance 31(3), 517-533. Download

Holinski, N., and R. Vermeulen (2012), The international wealth channel: A global error-correcting analysis, Empirical Economics 43(3), 985-1010. Download

Candelon, B., J. Muysken and R. Vermeulen (2010), Fiscal policy and monetary integration in Europe: An update, Oxford Economic Papers 62(2), 323-349. Download

Beine, M., A. Cosma and R. Vermeulen (2010), The dark side of global integration: Increasing tail dependence, Journal of Banking & Finance 34(1), 184-192. Download

Other publications

Vermeulen, R., Schets, E., Lohuis, M., Kölbl, B., Jansen, D., Heeringa, W., 2018. An energy transition risk stress test for the financial system of the Netherlands. DNB Occasional Studies No 16-7.

Robert-Paul Berben, Ide Kearney and Robert Vermeulen (2018), DELFI 2.0, DNB's Macroeconomic Policy Model of the Netherlands, DNB Occasional Studies No. 16-5. Download

Parlevliet, J., Doll, M., Vermeulen, R. and De Winter, J., 2016. Perspectief op groei: De Nederlandse economie in beweging. DNB Occasional Studies Nr. 4 (2016). Download 

Kosse, A., and R. Vermeulen (2013), Waarom migranten op informele wijze geld sturen naar hun thuisland (Why migrants send money home informally), Economisch Statistische Berichten 98(4663), 404-407. Download 

Vermeulen, R. (2010), Promotie in ESB: Essays on international financial integration, Université du Luxembourg & Universiteit Maastricht, Economisch Statistische Berichten 95(4593), 574. Download


Latest update: September 2018