Vincent Sterk


Department of Economics

University College London

Drayton House, Gower Street,

London WC1E 6BT, UK

Phone: +44 207 679 5877



|Curriculum Vitae | Research| Teaching | Home |

Curriculum Vitae

Download PDF ; google scholar


Position and affiliations


2021-: Professor, University College London, Department of Economics

2020 -: Associate Editor, Review of Economic Dynamics

2019 -: Editorial board member, Review of Economic Studies

2018 -: Academic Consultant, Bank of England (Monetary analysis)

2018- : Associate editor, Journal of the European Economic Association

2018 - 2021: Associate Professor, University College London, Department of Economics

2017 -: Associate editor, Economic Journal

2016 -: Centre for Economic Policy Research, research affiliate

2012 -: Centre for Macroeconomics, member

2011-2018: Lecturer (Assistant Professor), University College London, Department of Economics

2007-2011: Economist, De Nederlandsche Bank



Quantitative Easing with Heterogeneous Agents, with Wei Cui, Forthcoming, Journal Of Monetary Economics. earlier version available as CEPR discussion paper 13322. VoxEU column.


Sterk, Vincent (r) Sedlacek, Petr (r) Pugsley, Benjamin (2021). The Nature of Firm Growth , American Economic Review. Vol 111 (2), 547-579. Appendix. VoxEU column. Download autocovariance moments. Citation help.


Macroeconomic Fluctuations with HANK and SAM: an Analytical Approach, (2020), with Morten O. Ravn. Appendix. VoxEU column. Forthcoming, Journal of the European Economic Association. Also available as CFM Discussion Paper 2016-33 and CEPR Discussion Paper 11696.


Reviving American Entrepreneurship? Tax Reform and Business Dynamism, with Petr Sedlacek. Journal Of Monetary Economics, Vol 105, pp.94-108. Carnegie-Rochester-NYU Conference Series on Public Policy, (2019).


The Transmission of Monetary Policy Operations through Redistributions and Durable Purchases, with Silvana Tenreyro (2018), Vol. 99, pp. 124-137, Journal of Monetary Economics,


Comments on "The Forward Fiscal Guidance Puzzle and a Resolution" by M. Canzoneri, D. Cao, R. Cumby, B. Diba, and W. Luo (2018) Journal of Economic Dynamics and Control, Gerzensee conference volume, 89(C), pp. 47-49.Link to publication.


The Growth Potential of Startups over the Business Cycle, (2017), Vol. 107 (10), pp. 3182-3210, American Economic Review, with Petr Sedlacek, appendix. Earlier version.


Job Uncertainty and Deep Recessions, (2017) , Vol. 57 (2), pp. 217-225 , Journal of Monetary Economics, with Morten O. Ravn,

previous version.


Home Equity, Mobility, and Macroeconomic Fluctuations, (2015), Vol. 74, pp. 16-32, Journal of Monetary Economics.


The Myth of Financial Innovation and the Great Moderation (2011), Economic Journal, Vol. 121, Issue 335, pp. 707, with Wouter den Haan.


Credit Frictions and the Comovement between Durable and Non-durable Consumption (2010), Journal of Monetary Economics, Vol. 57 (2), pp. 217-225.


Working Papers

Startups and Employment Following the COVID-19 Pandemic: A Calculator, with Cristiana Benedetti-Fasil and Petr Sedlacek (2020). Earlier version available in Covid Economics, issue 13. R&R Economic Policy.

Calculator United States: here. VoxEU column: here.

Calculator EU member states: here.


Stock Market Participation, Inequality and Monetary Policy, with Davide Melcangi (2019).


The Dark Corners of the Labor Market (2016).


Policy reports


Benedetti Fasil, C., P. Sedláček and V. Sterk (2020), EU start-up calculator: impact of COVID-19 on aggregate employment. Scenario analysis for Austria, Belgium, Germany, Hungary, Italy and Spain

Benedetti Fasil, C., P. Sedláček and V. Sterk (2020), EU start-up calculator: impact of COVID-19 on aggregate employment. Scenario analysis for Denmark, Estonia, Finland, France, Latvia, Lithuania, Portugal and Sweden

Benedetti Fasil, C., P. Sedláček and V. Sterk (2020), EU start-up calculator: impact of COVID-19 on aggregate employment. Scenario analysis for Bulgaria, Croatia, Czechia, Luxembourg, Netherlands, Poland, Romania, Slovakia and Slovenia


Research Interests

Business Cycles, Monetary Policy, Firm Dynamics, Labor Markets, Housing Markets, Inequality



Macroeconomics, MSc [econg022]

Macroeconomics, MRes [econg105]



2007 - 2011: University of Amsterdam

PhD in Economics, advisor: W.J. den Haan

KVS Medal 2011 for best PhD thesis in Economics, awarded every 3 years by the Royal Dutch Society for Economics


Feb - June 2010: Federal Reserve Bank of New York

Visiting PhD student at Macroeconomic and Monetary Studies Function


2000-2005: Tilburg University

Econometrics and Operations Research



American Economic Review, Review of Economic Studies, Econometrica, Journal of Political Economy, American Economic Journal: Macro, AER: Insights, Journal of Monetary Economics, Journal of Money, Credit and Banking, Review of Economic Dynamics, Review of Economics and Statistics, Journal of the European Economic Association, Economic Enquiry, IMF Economic Review, Economic Letters, Journal of Financial Stability, Journal of Housing Economics, Economic Journal, European Economic Review, Scottish Journal of Political Economy, Journal of Empirical Finance, Macroeconomic Dynamics, B.E. Journal of Macroeconomics, Economic Journal, Canadian Journal of Economics, Journal of International Money and Finance, Review of Financial Studies, Scandinavian Journal of Economics


PhD Supervision

Current PhD students:

First supervisor: Yongsoo Kim, Thomas Lazarowicz, Jorn Onken, Matthew Read, Dajana Xhani


Second supervisor: Andrew Preston


Past PhD students (placement):

First supervisor: Davide Melcangi (Federal Reserve Bank of New York), Thomas Pugh (Bank of Canada), David Zentler-Munro (University of Essex)


Second supervisor: Neele Balke (University of Chicago, postdoc), Benjamin Hemmingway (Bank of Lithuania), Chanwoo Kim (Bank of Korea), Similan Rujiwattanapong (University of Arhus)


Seminars and Conference Presentations


DNB Conference Housing and Credit Dynamics: Causes and Consequences


Sveriges Riksbank

Federal Reserve Bank of New York

Federal Reserve Bank of Philadelphia and the Kiel Institute for the World Economy Conference Labor Markets after the Great Recession

University of Oxford

Paris School of Economics

Banque de France


Federal Reserve Bank of San Francisco

Bank of Canada


Bank of England

Bank for International Settlements

IIES, Stockholm

University College London

Federal Reserve Board

Federal Reserve Bank of Chicago

Michigan State University

CREI (Barcelona)

Bank of Spain

Humboldt University

SED Meetings (Ghent)

Nordic Symposium in Macroeconomics (Smögen)


AEA meetings (Chicago)

Institute for Advanced Studies (Vienna)

RES meetings (young talent session)

European Central Bank

European Bank for Reconstruction and Development

University of Oslo

Bank of England (London Macro Workshop)

University of Essex

Birkbeck College


Trinity College Dublin

University of Cambridge

CEMFI (Madrid)

London School of Economics

University of Bonn

SED Meetings Seoul

University of Oxford

CEF London

University of St Gallen


University of Manchester

University of Sussex

University of Surrey

Bocconi University

Search and Matching conference Edinburgh

SED Toronto

Tsinghua conference on Macroeconomics

ENSAI Rennes Macro Workshop

EEA Meetings Toulouse

Norwegian Business School

Richmond Fed Macro/Labor Conference

IIES Stockholm

Paris School of Economics

Brunel University


Search and Matching Conference Aix-en-Provence

CPB Economic Policy Analysis (The Hague)

Bonn/IMF conference on  Labor Markets in/after Crises (Bonn)

De Nederlandsche Bank (Amsterdam), seminar

EUI/IMF conference on Secular stagnation (Florence)

SED Warsaw

Nordic Symposium in Macroeconomics (Smögen )

Cambridge-INET-EABCN Conference on Persistent Output Gaps (Cambridge, planned)

St. Louis Fed workshop on Monetary Policy and the Distribution of Income and Wealth

De Nederlandsche Bank conference on Distributional implications of the crisis and policy responses

Banque de France

SAET conference Cambridge

Econometric Society World Congress, Montreal

European Central Bank

University of Toulouse

X REDg Dynamic General Equilibrium Macroeconomics Workshop, Barcelona

Federal Reserve Board, conference on Monetary Policy Implementation and Transmission in the Post-Crisis Period

Ifo Conference on Macroeconomics and Survey Data 2015, Munich

University of Bristol


AEA meetings San Francisco

ES winter meetings San Francisco

University of Cologne

University of York

Ecole Polytechnique

Wharton School, University of Pennsylvania

University of Oslo

Norges Bank

Konstanz Seminar on Monetary Theory and Policy

St Louis Fed

Minneapolis Fed



NYU SAM workshop

Ifo conference on Macroeconomics and Survey Data, 2016

Cepremap, PSE and Banque de France conference on Helicopter Money


Bocconi University

IFS conference, The Welfare State and the Labour Market: Micro meets Macro

RES annual meeting, Bristol

New York Fed

INET/USC Dornsife conference on Inequality, Globalization, and Macroeconomics, Los Angeles

Banque de France / EABCN conference on Recent Developments in Monetary Policy Research, Paris

Tinbergen Institute, Amsterdam

Madrid Workshop on Quantitative Economics

Barcelona GSE summer forum (planned)

SED conference 2017, Edinburgh

NBER Summer Institute 2017 (EFMPL & EFCE)

Brandeis Summer Workshop in International Economics and Finance

EEA meetings Lisbon

ESEM meetings Lisbon

University of Kent

University of St Gallen

Tilburg University

Chicago Fed


Federal Reserve Bank of San Francisco, conference

T2M conference, Paris

University of Barcelona

University of Konstanz

Northwester/UCL/EIEF conference, Ischia

SED meetings, Mexico City

University of Nuremberg

Minnesota Macro

Federal Reserve Bank of Cleveland

Business CYCLE Conference, Santa Barbara

University of Essex (planned)

Copenhagen Business school (planned)

RBA conference, Sydney (planned)

Carnegie-Rochester-NYU conference (planned)

University of Toronto (2019)

SED annual meetings, St. Louis (2019)



 London Business School (paper by Jeff Campbell, Jonas Fisher and Alejandro Justiniano)

De Nederlandsche Bank (paper by Bolt, Demertzis, Diks, Hommes, and Van der Leij)

UCL (paper by Paolo Surico and Thomas Sargent)

De Nederlandsche Bank (paper by Jean-Paul L’Huillier and Dan Cao)

London Business School (paper by Marjorie Flavin)

UCL/IFS (Paper by Eric Smith)

RES meetings Royal Holloway (paper by Pontus Rendahl)

NORMAC Smögen (paper by Conny Olovvson)

Bundesbank (paper by Monika Piazzesi and Martin Schneider)

UCL/Northwestern conference in Ortigia (paper by Sergio Rebelo)

De Nederlandsche Bank (paper by Anrade, Gaballo, Mengus and Mojon)

Riksbank conference in Stockholm (paper by Allessandro Gavazza, Simon Mongey and Gianluca Violante)

Riksbank conference in Stockholm (paper by Greenwald, Landvoigt and Van Niewerburgh)



UCL/Northwestern conference in Ischia (paper by Pontus Rendahl)

Bank of England conference (paper by Alisdair McKay and Ricardo Reis)

Bank of Italy conference on Monetary Policy after the Crisis: New Views, Open Questions (paper by James Cloyne and Paolo Surico) 

NORMAC Ebeltoft (paper by Hagedorn, Manovskii, Mitman, and Karahan)

Oxford/NY Fed conference (paper by Greg Kaplan, Ben Moll and Gianluca Violante)

UCL conference (paper by Xavier Ragot and Francois LeGrand)

Banque de France conference (paper by Klaus Adam and Henning Weber)



Macro seminar co-organizer: 2011-2012, 2012-2013, 2014-2015, 2015-2016

KVS Medal 2011 for best PhD thesis in Economics, awarded every 3 years by the Royal Dutch Society for Economics

Recruiting at AEA meetings: 2012 (Chicago), 2013 (San Diego), 2015 (Boston), San Francisco (2016)


Personal Information


Date of birth: March 19, 1982

Place of birth: Dordrecht, The Netherlands