Bruno Albuquerque

Research Economist - Macro-Financial Risks Division


Bruno is a Research Economist in the Macro-Financial Risks Division in our Financial Stability Strategy and Risk Directorate. Before joining us in 2019, Bruno worked as an Economist at the Banco de Portugal between 2006 and 2012, and then moved to the European Central Bank until 2015 (and between April and August 2019). Over those years, Bruno monitored the economic developments and conducted macroeconomic projections for the US economy. During his PhD studies, he did an internship in the Research Department at the Norges Bank.

Bruno’s research interests include empirical macroeconomics, monetary policy, and the interaction between private sector debt, housing markets and economic activity. 

Bruno holds a PhD in Economics from Ghent University, and a MSc in Monetary and Financial Economics and a BA in Economics from ISEG - Lisbon School of Economics and Management.

Bruno's Bank Underground blog posts

The declining elasticity of US housing supply - February 2020


Bruno's selected academic publications

The declining elasticity of US housing supply, VOX EU column, 25 February 2020
One Size Fits All? Monetary Policy and Asymmetric Household Debt Cycles in U.S. States, Journal of Money, Credit and Banking, 2019
Household Heterogeneity and Consumption Dynamics in the Presence of Borrowing and Liquidity Constraints, Applied Economics Letters, 2019
Debt Overhang and Deleveraging in the US Household Sector: Gauging the Impact on Consumption, with G. Krustev, Review of Income and Wealth, 2018
Will US Inflation Awake from the Dead? The Role of Slack and Non-Linearities in the Phillips Curve, with U. Baumann, Journal of Policy Modeling, 2017
What Does Money and Credit Tell Us About Real Activity in the United States?, with U. Baumann and F. Seitz, The North American Journal of Economics and Finance, 2016
US Household Deleveraging Following the Great Recession – A Model-Based Estimate of Equilibrium Debt, with U. Baumann and G. Krustev, The B.E. Journal of Macroeconomics, 2015
Fiscal Institutions and Public Spending Volatility in Europe, Economic Modelling, 2011

This page was last updated 04 March 2020
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