Short bio
Emmanuel is a Senior Economist in the Research Department of De Nederlandsche Bank. Previously, he was on an ESCB/IO secondment to DG-Research of the European Central Bank, where he worked on inflation and price setting. Earlier assignments include the International Monetary Fund and the Federal Reserve Bank of Dallas. He was a member of the ESCB's PRISMA network, which analyzed firms' price setting decisions and their macro implications. His published findings include that: (1) in line with endogenous pricing models, declining trend inflation can explain a gradual flatting of the Phillips curve and the lack of accelerating deflation in Japan; (2) in the United States, the negative relation between firm-specific volatility and the business cycle is much weaker than earlier research suggests.
Education
Ph.D. Economics, Johns Hopkins University
M.A. Economics, Johns Hopkins University
Master of Laws, KULeuven
Research interests
- Macroeconomics
- Inflation dynamics and price setting
- Macroprudential policy
Work in progress
Idiosyncratic volatility and pricing decisions (with Raphael Schoenle)
Estimating the slope of the Phillips curve (with Anton Nakov)
Working papers
Loan-to-value shocks and macroeconomic stability, DNB Working Paper No. 763.
How does the Phillips curve slope vary with repricing rates? DNB Working Paper No. 735 and ECB Working Paper No. 2804.
Heterogeneity and asymmetric macroeconomic effects of changes in loan-to-value limits (with Jasper de Jong), DNB Working Paper No. 635. Second revise and resubmit at the Journal of Money, Credit and Banking.
Publications in refereed journals
Bonam, Dennis, Emmanuel De Veirman, and Gavin Goy (2024), Should developed economies manage international capital flows? An empirical and welfare analysis, Oxford Bulletin of Economics and Statistics, forthcoming. Download OBES or working paper.
De Veirman, Emmanuel, and Andrew Levin (2018), Cyclical changes in firm volatility, Journal of Money, Credit and Banking 50, 317-349. Download JMCB.
De Veirman, Emmanuel, and Andrew Levin (2012), When did firms become more different? Time-varying firm-specific volatility in Japan, Journal of the Japanese and International Economies 26, 578-601. Download JJIE or working paper.
De Veirman, Emmanuel, and Ashley Dunstan (2012), Debt dynamics and the relationship between consumption and cyclical wealth changes, Economic Record 88(282), 330-340. Download ER or more extensive working paper.
De Veirman, Emmanuel, and Ashley Dunstan (2011), Time-varying returns, intertemporal substitution and cyclical variation in consumption, B.E. Journal of Macroeconomics (Topics) 11, Article 23. Download BEJM or working paper.
De Veirman, Emmanuel (2009), What makes the output-inflation trade-off change? The absence of accelerating deflation in Japan, Journal of Money, Credit and Banking 41, 1117-1140. Download JMCB or more extensive working paper (the latter is entitled "Which nonlinearity in the Phillips curve?").
Selected other publications
Dedola, Luca, Erwan Gautier, Anton Nakov, Sergio Santoro, Lukas Henkel, Bruno Fagandini and Emmanuel De Veirman (2023), Some implications of micro price-setting evidence for inflation dynamics and monetary transmission, ECB Occasional Paper 321. Download.
Gautier e.a. (2023), Price adjustment in the euro area in the low-inflation period: evidence from consumer and producer micro price data, ECB Occasional Paper 319. Download.
Bolt, WIlko, Dennis Bonam, Gerbert Hebbink, Maarten van Rooij, Emmanuel De Veirman and Maikel Volkerink (2022), Wage-price dynamics: a negative spiral? DNB Analysis. Download.
Bonam, Dennis, Emmanuel De Veirman and Gavin Goy (2021): Should developed economies manage international capital flows? SUERF Policy Brief No. 49, February. Download.
Emmanuel De Veirman (2016): Er is geen sterk verband tussen micro-onzekerheid en de macro-economie (there is no strong connection between microeconomic uncertainty and the economy), Economisch Statistische Berichten, 252-254, maart. Download.
Emmanuel De Veirman (2015): Micro uncertainty and macro slowdowns: new evidence, VoxEU column, December. Download.
Latest update: June 2024