Lea Bitter

Economist at @ecb. PhD from @TUBerlin. Interested in CBDC, monetary policy & macro. Views shared here do not necessarily represent those of my employer.

[Lea Bitter @lh_bitter]

Check out our new Working Paper 👇👇

[European Central Bank Research @ECB_Research]

🧵New Working Paper by Y. Akkaya (@yildizakkaya) , L. Bitter (@lh_bitter) , C. Brand and L. Fonseca (@luispfonseca) :"A statistical approach to identifying ECB monetary policy"

https://t.co/iLCMKzpZYR
1/4

[Lea Bitter @lh_bitter]

So happy to see my single-authored PhD paper published ☺️

[JEconStat @stat_econ]

New paper: Lea Bitter (@lh_bitter) examines the implications of an interest-bearing CBDC on banking crises in a dynamic bank run model with a financial accelerator:
https://t.co/B6IHgcODxp #CBDC

[Lea Bitter @lh_bitter]

@benbellows @EswarSPrasad @FT @ftopinion Having such “programmable money” (a true misnomer) turns money into a voucher (and is separate to programable payments). Indeed, using CBDC features (by definition issued by the central bank) for such fiscal measures would threaten central bank independence and credibility. (2/2)

[Lea Bitter @lh_bitter]

@benbellows @EswarSPrasad @FT @ftopinion The government using targeted vouchers is a fiscal meaure. These measures seem to raise interesting questions on the impact of digitalisation on the (optimal) design of fiscal measures. However, this is separate and independent from digital currency considerations. (1/2)

[Lea Bitter @lh_bitter]

It was terrific and an absolute honor to have been taught by such great scholars!

[Sergio Rebelo @SergioRebelo6]

The 16th Advanced Workshop for Central Bankers just concluded in Singapore, gathering talented central bankers from 10 countries. I look forward to returning to Singapore for the 2025 edition of the workshop!

[Lea Bitter @lh_bitter]

@CrisisStudent @DiogoLarSa Related to this, you may find the economics letters article from BdI colleagues insightful: https://t.co/NSkyGiG1GE

[Lea Bitter @lh_bitter]

@CrisisStudent @DiogoLarSa 3. Taking out growth forecast revisions from the regression, of course we lose a bit but not much explanatory power. As reminder: the analysis cannot be interpreted as perceived structural policy reaction function, owing to the episodic nature of the short sample.

[Lea Bitter @lh_bitter]

👇👇👇👇👇

[Diogo Sá @DiogoLarSa]

Very happy to share that our recent research, “Policy expectation errors during the recent tightening cycle - insights from the ECB’s Survey of Monetary Analysts”, together with @yildizakkaya, @lh_bitter and Claus Brand, is now available in the latest @ecb’s Economic Bulletin!

[Lea Bitter @lh_bitter]

@mvbulutay @UniHeidelberg Awesome - congratulations!

[Christine Lagarde @Lagarde]

Whatever it cakes!

[Lea Bitter @lh_bitter]

Check out our working paper! 😊

[European Central Bank Research @ECB_Research]

🧵 New Working Paper: “CBDC and business cycle dynamics in a New Monetarist New Keynesian model”, by K. Assenmacher, @lh_bitter and @annukkaristi https://t.co/a6FbGFc8Vz 1/5

[Lea Bitter @lh_bitter]

🎉

[European Central Bank @ecb]

🇪🇺🇭🇷 Croatia will adopt the euro as of next year!

The country fulfils all convergence criteria, the Council of the European Union agreed today. Croatia is now formally approved to join the euro area on 1 January 2023.

Press release https://t.co/KRlnOxYBAt

[Digital Currency Initiative @mitDCI]

Excited to share the first open source software release in our collaboration with the @BostonFed: OpenCBDC—a research platform to explore the possibilities and tradeoffs of a hypothetical CBDC—and a research/technical paper: https://t.co/x7WgkEXcIn

[Lea Bitter @lh_bitter]

@mvbulutay It becomes addictive 😄

[Hanno Lustig @HannoLustig]

real images of economists under 30 observing inflation for the first time in the wild.

[Lea Bitter @lh_bitter]

@t_holden Or people are afraid to take them off because of the police presence…

[Lea Bitter @lh_bitter]

@Jonas__Gross Exciting!