The research unit

In 2016, Danmarks Nationalbank established a new, independent Research Unit, to support the policy decisions of Danmarks Nationalbank by providing a conceptual framework to assess policy-making challenges, and economic models and tools to analyse the economy.

Since 1 October 2022, the unit has been led by Steffen Andersen (Head of Research) in collaboration with Renato Faccini (Deputy Head of Research). Economists in the Research Unit produce high-quality research published in refereed journals and participate in the international academic and central banking debate. The Research Unit runs the Danmarks Nationalbank PhD programme and is part of the Economics and Monetary Policy department. Economists across all core departments at Danmarks Nationalbank conduct research in a wide variety of macroeconomics and finance.

Research Unit leadership

Research Unit economists

Executive assistant

Research Unit visiting scholars

Research Unit PhD students

Research Unit research assistants


Data Analytics and Science

The Data Analytics and Science section explores new technologies, including machine learning, which may support data analysis in the bank. Furthermore, the section analyses business needs related to data analysis in the bank and facilitates competence development related to analytical work. The section is led by Thais Lærkholm Jensen, assisted by Alessandro Martinello.


Quant group

The Quant group is a forum for financial modelling involving economists and financial experts from across several of Danmarks Nationalbank’s departments. The group’s main focus is on applied work supporting analysis and decision-making in the areas of asset and debt management, monetary policy and financial stability.


Modelling team

MONA is a quarterly macroeconometric model of the Danish economy estimated using quarterly data starting in 1971. It is demand-driven in the short run and supply-driven in the long run. The model is used as a tool for making economic projections and for assessing the impact of changes in business cycle drivers.