Annukka Ristiniemi
Welcome! I am a Team Lead Economist at the ECB's Monetary Policy Strategy division working on policy modelling. Prior to that I worked at Modelling division at Riksbank. I completed my PhD at Paris School of Economics with Daniel Cohen and spent time at Banque de France, ECB, and CEPREMAP among other places.
Email: annukka(at)ristiniemi.eu
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Research
Battle of the Ages: Distributional and Aggregate Effects of Monetary Policy in a Model with Age Demographics
with Wouter den Haan, Alessandro Ferrari, Falk Mazelis
Inflation and monetary policy in medium-sized New Keynesian models
with Günter Coenen, Falk Mazelis, Roberto Motto, Frank Smets, Anders Warne, and Raf Wouters
2025 Chapter in the Research Handbook on Inflation
Monetary policy strategies for the euro area: optimal rules in the presence of the ELB
with Roberto Motto and Falk Mazelis
CBDC and business cycle dynamics in a New Monetarist New Keynesian model
with Lea Bitter and Katrin Assenmacher
A shadow rate without a lower bound constraint
with Rafael Barros de Rezende
2023 Journal of Banking and Finance, Vol 146
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Asymmetric monetary policy rules for the euro area and the US
with Junior Maih, Falk Mazelis, and Roberto Motto
2021 Journal of Macroeconomics, Vol 70(C)
A toolkit for computing Constrained Optimal Policy Projections (COPPs)
with Oliver de Groot, Falk Mazelis, and Roberto Motto
2021 ECB Working Paper No. 2555
Quantitative easing and the price-liquidity trade-off
with Marien Ferdinandusse, and Maximilian Freier
2020 ECB Working Paper, no. 2399
2017 Sveriges Riksbank Working Paper, no.335
Credit Ratings and Debt Crises
with Matthieu Bussière
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Policy publications
Report on monetary tools, strategy, and communication
2025 ECB Occasional Paper, 372
Model-based assessment of macroeconomic impact of the ECB’s monetary policy tightening since December 2021
with Matthieu Darracq-Paries, Roberto Motto, Carlos Montes-Galdón, Arthur Saint Guilhem and Srečko Zimic
2023 ECB Economic Bulletin, Issue 3, Box 6
The ECB's price stability framework: past experience, and current and future challenges
2021 Occasional papers, ECB, no 269
Employment and the conduct of monetary policy in the euro area
2021 Occasional papers, ECB, no 275
Assessing the efficacy, efficiency and potential side effects of the ECB’s monetary policy instruments since 2014
2021 Occasional papers, ECB, no 278
Forecasting krona
Emil Askestad, Ana Maria Ceh, Paola Di Casola