Morten Spange


Chief Monetary Policy Advisor
Economics and Monetary Policy
Fields of Interest: Monetary Policy, Macroeconomics
msp@nationalbanken.dk

Education
Ph.D., Economics, University of Aarhus, 2005
M.Sc., Economics, University of Aarhus, 2002

Professional Experience
Chief Monetary Policy Advisor, Economics and Monetary Policy Department, Danmarks Nationalbank, 2020-
Senior Adviser, Economic Analysis, Macroeconomic Analysis Division, Danmarks Nationalbank, 2016-2019
Adviser, Economics and Monetary Policy Department, Danmarks Nationalbank, 2014-2016
Senior Adviser, Danish Productivity Commission, 2012-2013
Adviser, Economics and Monetary Policy Department, Danmarks Nationalbank, 2008-2012
Economist, Monetary Assessment and Strategy Division, Bank of England, September 2006–August 2008
Economist, International Economic Analysis Division, Bank of England, September 2004–September 2006

Working Papers
'The ECB's unconventional monetary policy and the role of exchange rate regimes in cross-country spillovers' with Jakob Roager Jensen and Jakob Guldbæk Mikkelsen, Danmarks Nationalbank Working Papers, No. 119, (2017).

'Sterling Implications of a US Current Account Reversal' with Pawel Zabczyk, Bank of England Working paper no. 296, (2006).

Refereed Publications
'The Effects of Fiscal Policy in a Small Open Economy with a Fixed Exchange Rate' with Søren Hove Ravn, Open Economies Review, Vol. 25, No. 3, pp. 451-476, (2014).

'International Spill-over Effects and Monetary Policy Activism' with Anna Lipinska and Misa Tanaka, Journal of Money, Credit and Banking, Vol. 43, No. 8, pp. 1735-1748, (2011).

'International Spill-over Effects of Labour Market Rigidities',  Journal of Macroeconomics, Vol. 30, No. 1, pp. 157-178, (2008).

'Do Structural Asymmetries Increase The Gains From International Fiscal Policy Coordination?’, Manchester School, Vol. 75, No. 1, pp. 131-150, (2007).

'International Interdependencies in Fiscal Stabilization Policies' with Torben M. Andersen,  European Economic Review, Vol. 50, pp. 1169-1195, (2006)

Selected Danmarks Nationalbank Publications
'Cental bank digital currency in Denmark?' with Kirsten Elisabeth Gürtler, Kristine Rasmussen and Søren Truels Nielsen, Danmarks Nationalbank Analysis, No. 28, (2017).

'Diffusion of new knowledge benefits firms' productivity' with Mark Strøm Kristoffersen and Sune Malthe-Thagaard, Danmarks Nationalbank Analysis, No. 18, (2017).

'Effects of Danmarks Nationalbank's interventions in the foreign exchange market' with Jonas Sørensen, Danmarks Nationalbank Monetary Review Q4, pp. 61-73, (2016).

'Exchange rate pass-through to Danish import and consumer prices' with Mark Strøm Kristoffersen, Danmarks Nationalbank Monetary Review Q2, pp. 45-55, (2016).

'Balance of payments, net foreign assets and foreign exchange reserve' with Søren Lejsgaard Autrup, Paul Lassenius Kramp and Erik Haller Pedersen,  Danmarks Nationalbank Monetary Review Q4, pp. 41-54, (2015).

'Interest rate pass-through and the demand for cash at negative interest rates' with Carina Moselund Jensen, Danmarks Nationalbank Monetary Review Q2, (2015).

'Money, Credit and Banking' with Jens Bang-Andersen and Lars Risbjerg, Danmarks Nationalbank Monetary Review Q3, pp. 65-81, (2014).

'Fixed Exchange Rate Policy in Denmark' with Martin Wagner Toftdahl, Danmarks Nationalbank Monetary Review Q1, pp 49-60, (2014).

'Denmark’s Competitiveness and Export Performance' with Christian Helbo Andersen and Jacob Isaksen, Danmarks Nationalbank Monetary Review Q2, Part 1, pp 47-57 (2012)
and Part 2, pp. 41-81, (2012).

'Productivity Growth in Denmark' with Asger Lau Andersen, Danmarks Nationalbank Monetary Review Q1, Part 1, pp 43-58 and Part 2, pp 1-55, (2012).

'Monetary-Policy Strategies at the Zero Lower Bound on Interest Rates' with  Niels Blomquist and Niels Arne Dam, Danmarks Nationalbank Monetary Review Q4, Part 1, pp 83-98, (2011).

Other works
'The Macroeconomic Impact of Globalization: Theory and Evidence' with Chris Young, Bank of England Quarterly Bulletin Q1, pp 40-47, (2007).