Welcome to my personal website!

I am an applied economist working mainly with empirical methods, with research interests in international trade, firm performance, and policy-relevant economic analysis.

Since 2025, I have worked at STATEC Research, the research department of STATEC, Luxembourg's National Institute of Statistics and Economic Studies. Previously, I worked as a consultant for STATEC's Département Conjoncture, Modélisation et Prévisions (CMP) and as a postdoctoral researcherA postdoctoral researcher is a temporary research position after a Ph.D., usually focused on publications and further development of an academic research profile. at the University of Luxembourg.

My most recent research focuses on international trade, exploring trade policy, the welfare effects of trade shocks, the role of product quality, and the granularity of trade flows.

I have taught courses in macroeconomics, public economics, applied general equilibrium, international trade, and development policy at both undergraduate and graduate levels.

I obtained a Ph.D. Doctor of Philosophy in International Economics from the Paris School of Economics and Université Paris 1 Panthéon-Sorbonne under the supervision of Professor Lionel Fontagné. Full text of my dissertation is publicly available: here and here.

Most recent output

Determinants of the profitability of firms in Luxembourg

with Giovanni Mangiarotti

ECOSTAT Working Papers 143, STATEC, 2026

Abstract

Luxembourg consistently ranks low in EU-wide profitability rankings by Gross Operating Rate (GOR), as reported by STATEC analysis and confirmed by Eurostat data. To explain these outcomes, this study examines the factors correlated with profitability in Luxembourg using Structural Business Statistics (SBS) data at the industry level. The analysis is conducted first in a cross-country framework, followed by a focused investigation on Luxembourg. Cross-country evidence indicates that merchanting, subcontracting and distributive activities are negatively correlated with GOR, with the effect being especially pronounced for Luxembourg relative to other European countries. Luxembourg-specific analysis confirms this negative correlation, which seems stronger in the wholesale and retail trade sector. We also find evidence that big firms are less profitable than small ones. Across specifications, nominal labour productivity is systematically and positively associated with profitability. This study also evaluates the margin rate as an alternative measure of profitability. According to this metric, Luxembourg’s profitability ranking for some industries shows improvement. Overall, the results advise against the use of a single profitability measure and its application to broad industry aggregates.

Press release:

• STATEC

Media coverage:

• Paperjam
• L'essentiel
• d'Lëtzebuerger Land

Published research papers

Bearing the cost of politics: Consumer prices and welfare in Russia with Julian Hinz

Published in July 2022 in the Journal of International Economics. BibTeX

Highlights Why it matters

Abstract

In August 2014, the Russian Federation implemented an embargo on select food and agricultural imports from Western countries in response to previously imposed economic sanctions. In this paper we quantify the effect of this embargo on consumer prices and welfare in Russia. We provide evidence for the direct effect on monthly consumer prices with a difference-in-differences approach. The embargo caused prices of embargoed goods to rise by up to 7.7% – 14.9% in the short run and by on average 2.6% – 8.1% until at least 2016. The results further suggest the shock was transmitted to non-embargoed sectors through domestic input-output linkages. We then construct a general equilibrium Ricardian model of trade with input-output linkages and goods that are tradable, non-tradable or embargoed. The model-based counterfactual analysis predicts the overall price index in Russia to have increased by 0.33% and welfare to have declined by 1.84% due to the embargo.

Media coverage:

• d'Lëtzebuerger Land

Also covered in:

• wiiw Monthly — Report No. 11/2017, Vienna Institute for International Economic Studies (wiiw).

Eco-efficiency outcomes of mergers and acquisitions in the European electricity industry

Published in Energy Policy in August 2017. BibTeX

Highlights Why it matters

Abstract

The European electricity industry was recently liberalized. In response, there was a surge of mergers and acquisitions (M&As). This study addresses the effects of M&As on the eco-efficiency of European electricity producers in 2005–2013. The environmental production technology comprises CO2 emissions as an undesirable output. I compute eco-efficiency using data envelopment analysis (DEA) and the Malmquist-Luenberger productivity index, which are both based on radial directional distance function. I observe a decreasing trend in average eco-efficiency, which contradicts the previously documented moderate efficiency gains of liberalization. The effects of M&As are isolated using second-step fractional regression. The domestic horizontal M&As, which are systematically regulated by the European Commission, have no impact. Although one cross-border horizontal deal has a same-year effect of roughly −3%, this effect becomes approximately +1.5% over a two-year timespan. Vertical domestic M&As have a short-run negative impact of 3.6% that does not persist over time. Vertical international M&As reduce the eco-efficiency by 2.1% two years after their completion. Limited evidence suggests that the conglomerate deals are at least not harmful. The policy implication is that the merger regulation should be based on DEA eco-efficiency measures. Regulators should devote more attention to cross-border M&As and particularly to vertical deals.