Principal ​Economist
Economics and Monetary Policy
Fields of Interest: Household and Firms Behaviour, Banking, Applied Econometrics
aku@nationalbanken.dk

Full academic CV

Education
Ph.D. Economics, University of Southern Denmark, 2011
M.Sc. Economics, University of Southern Denmark, 2008

Professional Experience
Principal Economist, Macroeconomic Analysis, Danmarks Nationalbank, 2021-
Senior Economist, Macroeconomic Analysis, Danmarks Nationalbank, 2018-2021
Senior Economist, Monetary Policy and International Relations Division, Danmarks Nationalbank, 2016-2018
Economist , Economic Research Division, Danmarks Nationalbank, 2014-2016
Economist, Money and Banking Statistics Division, Danmarks Nationalbank, 2011-2014
Part-time Lecturer, Department of Business and Economics, University of Southern Denmark, 2012-  

Refereed Publications

'Consumption heterogeneity: Micro drivers and macro implications,' with Edmund Crawley, American Economic Journal: Macroeconomics (Forthcoming).

'Registers or surveys – does the type of microdata matter for empirical analyses of consumption behavior?,' with Kim Abildgren, America Solange Lohmann Rasmussen and Henrik Sejerbo Sørensen, Journal of Economic and Social Measurement (Forthcoming).

'Pension wealth and macroeconomic stability,' with Henrik Yde Andersen and Niels Lynggård Hansen, in Torben M. Andersen, Svend Erik Hougaard Jensen and Jesper Rangvid (eds.), The Danish pension system: Design, performance and challenges, Oxford University Press (Forthcoming).

'Revisiting the inflation perception conundrum', with Kim Abildgren, Journal of Macroeconomics, 67, pp. 1-19 (2021).

'Leverage, investment, and recovery from a financial crises: The role of debt overhang', Studies in Economics and Finance, 37 (1), pp. 143-159 (2020).

‘Over optimism and house price bubbles’ with Kim Abildgren and Niels Lynggård Hansen, Journal of Macroeconomics, Vol. 56, pp. 1-14, (2018).

‘Banks’ loan rejection rates and the creditworthiness of the banks’ corporate customers’ with Kim Abildgren and Peter Askjær Drejer, Danish Journal of Economics 151 (2), pp. 207-224, (2013).

‘Do Microfinance Programs Change Fertility? Evidence Using Panel Data from Bangladesh’, Journal of Developing Areas 46 (2), pp. 297-313, (2012).

'Mikrokredit: Bistand eller Business? (in Danish Only)‘, Økonomi & Politik 82 (3), pp. 66-78, (2009).

Working papers
'Do firms behave differently when nominal interest rates are below zero?', with Kim Abildgren, Danmarks Nationalbank Working Paper, no. 164 (2020). 

'Mandatory pension savings and long-run debt accumulation: Evidence from Danish register data', with Henrik Yde Andersen and Niels Lynggård Hansen, Danmarks Nationalbank Working Paper, no. 156, (2020).

'Revisiting the inflation perception conundrum', with Kim Abildgren, Danmarks Nationalbank Working Paper, no. 144, (2019).

'Consistency between household-level consumption data from registers and surveys', with Kim Abildgren, America Solange Lohmann Rasmussen and Henrik Sejerbo Sørensen, Danmarks Nationalbank Working Paper, no. 131, (2018).

'Consumption Heterogeneity: Micro drivers and macro implications', with Edmund Crawley, Danmarks Nationalbank Working Paper, no. 129, (2018).

‘Consumption and savings in a low interest-rate environment‘ with Simon Juul Hviid, Danmarks Nationalbank Working Paper, no. 116, (2017).

‘Non-parametric estimation of marginal propensities to consume: the case of regression splines‘ with Casper Nordal Jørgensen, Danmarks Nationalbank Working Paper, no. 112, (2017).

'Overoptimism and house price bubbles', with Kim Abildgren and Niels Lynggård Hansen, Danmarks Nationalbank Working Paper, no. 109 (2016). 

‘Credit standards and capital allocation in a low interest rate environment’ with Svend Greniman Andersen, Danmarks Nationalbank Working Paper, no. 107, (2016). 

‘Loan types, leverage, and savings behaviour of Danish households’, Danmarks Nationalbank Working Paper no. 97, (2015).

‘Firm leverage and investment during the crisis’ , Danmarks Nationalbank Working Paper no. 96, (2015).

‘The efficiency of Danish banks before and during the crisis: A comparison of DEA and SFA’, Danmarks Nationalbank Working Paper no. 87, (2013).

‘Credit squeeze or low credit score? A micro-econometric analysis of SME's access to credit’ , with Kim Abildgren and Peter Askjær Drejer,  Danmarks Nationalbank Working Paper no. 81, (2012).

‘The Interplay between Credit Standards and Credit Demand: Microeconometric Evidence from Denmark’, Danmarks Nationalbank Working Paper no. 82, (2012).

‘Shocks and Risk Coping Strategies among Poor Rural Households in Mozambique’, with Jonas Helth Lønborg and Øystein Juul Nielsen, University of Southern Denmark Working paper (2012)

‘Exploring the Links Between Framework Conditions and Microfinance Institutions’,  University of Southern Denmark Working paper (2011)

Work in progress
Heterogeneity in consumer behavior

Pension savings and debt

Wealth effects on consumption

Impacts of negative deposit rates on firm behavior

Inflation expectations

Corporations deleverage and invest when charged negative interest rates on bank deposits, with Kim Abildgren, Danmarks Nationalbank Analysis, no. 24/2020.

'Covid19-krisen hæmmer dansk vækstpotentiale', with Mikkel Bess and Morten Werner, Danmarks Nationalbank Economic Memo, no. 9/2020.

'Forbruget dykker midlertidigt på gurnd af corona', with Svend Greniman Andersen, Stine Ludvig Bech and Simon Juul Hviid, Danmarks Nationalbank Economic Memo, no. 7/2020.

'Low prevalence of zombie firms in Denmark', with Svend Greniman Andersen and Paul Lassenius Kramp, Danmarks Nationalbank Analysis, No. 29/2019.