Ethan Ilzetzki

Lecturer (post major review)

London School of Economics

Centre for Macroeconomics

Centre for Economic Policy Research

Google Scholar


Curriculum Vitae

CfM Survey

Email : 
Tel: +44(0)20-7955-7510
Room number: 32L.1.11


Houghton Street
London, W1H 7LJ
United Kingdom


​​Why is the Euro Punching Below its Weight? (with Carmen Reinhart and Kenneth Rogoff). Conditinallly accepted at Economic Policy

Bibtex     Slides

Media: Financial Times 4.11.19     Financial Times 5.12.19   

Estimating the Elasticity of Intertemporal Substitution Using Mortgage Notches (with Michael Best, James Cloyne, and Henrik Kleven). Review of Economic Studies, 89:2, 2020.

Bibtex     Slides     Bunching at Mortgage Notches     Published Version

The Effect of House Prices on Household Borrowing: A New Approach (with James Cloyne, Kilian Huber, and Henrik Kleven), American Economic Review, 109:6, 2019.

Bibtex     Slides     Vox Summary     Chicago Booth Review Summary     Published Version

Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold? (with Carmen Reinhart and Kenneth Rogoff), Quarterly Journal of Economics, 134:2, 599–646, 2019.

Bibtex     Slides     Anchor Currencies     Exchange Rate Classifications    Data     Country Chronologies     Appendix    

Published Version 

Media: Economist, Financial Times, Macro Musings podcast

Tax Reform and the Political Economy of the Tax Base, Journal of Public Economics, 164, pp. 197-2010, 2018.

Bibtex     Slides     Published Version     Appendix

How Big (Small?) are Fiscal Multipliers? (with Enrique G. Mendoza and Carlos A. Vegh), Journal of Monetary Economics 60:2, pp. 239-254, 2013.

Bibtex     Data     Fiscal Multipliers: Fixed and Flex

Media: New York Times, Wall Street Journal, Financial Times, Irish IndependentEconomist ButtonwoodKrugman Blog, Mankiw Blog, Econbrowser

Most highly cited JME article since 2013           

Weak States and Steady States: The Dynamics of Fiscal Capacity (with Tim Besley and Torsten Persson), American Economic Journal: Macroeconomics 5:4, pp. 205-32, 2013.


The Puzzling Change in the International Transmission of U.S. Macroeconomic Policy Shocks (with Keyu Jin), mimeo. (New version coming soon.)

Measuring Productivity Dispersion: Lessons From Counting One-Hundred Million Ballots (with Saverio Simonelli),

Revised Version: Oct 2018

Bibtex     Slides     Map

Media: Les Echos

Kosher Pork (with Allan Drazen), Jan 2013


Rent-Seeking Distortions and Fiscal Procyclicality, Journal of Development Economics 96, 2011, pp. 30-46.


Fiscal Policy and Debt Dynamics in Developing Countries, May 2011

Bibtex     Data

Procyclical Fiscal Policy in Developing Countries: Truth or Fiction? (With Carlos A. Vegh), July 2008



Current Teaching

EC442: First year macro PhD

PP440: Macroeconomics for Public Policy

PP404: Economics for Public Policy



Globes interview, Jan 2018 (in Hebrew)

Macro Musings podcast, May 2017

Public Lecture: Fiscal Policy During Recessions and Recoveries, LSE Feb 2014

LSE US Centre Blog on the Affordable Care Act, 2013

Bloomberg TV, March 2012

CNN, "Debt deal: No cause for celebration", August 2011