Nina Biljanovska

Last Updated: April 08, 2021

Nina Biljanovska

Nina Biljanovska is an Economist at the Macro-Financial Division of the Research Department. Previously she worked in the Institute for Capacity Development and on the Brazil and Ecuador teams in the Western Hemisphere Department. She holds a Ph.D. in Economics from Goethe University Frankfurt. Her research interests include macro-policy, financial regulation, and behavioral finance.

Email: NBILJANOVSKA@imf.org

Personal WebPage: https://sites.google.com/site/biljanovska/

Education:

PhD Economics, Goethe University Frankfurt, 2010-2015

MSc Money and Finance, Goethe University Frankfurt, 2008-2010

BSc Business Administration, UNYP, Czech Republic, 2004-2008


Previous Experience:

Economist Program, IMF Institute for Capacity Development, Sep 2015-Mar 2017

Economist Program, IMF Western Hemisphere Department, Mar 2017-Sep 2018


Referee Activities:

International Journal of Central Banking, Macroeconomic Dynamics, Journal of Banking and Finance, Journal of Financial Stability, Journal of Economic Dynamics and Control


Awards and Honors:

IMF Innovation Initiative, Building Indexes of Behavioral Biases (team member), $35K


Current Position:

Economist, IMF Research Department, Macro-Financial Division


Country work or Mission Assignment:

Cyprus (Art. IV, 2023), Brazil (Art. IV, 2017, 2018), Ecuador, Singapore (capacity development), Georgia (capacity development)


Work in progress:

Optimal Mortgage Regulation and Income Inequality, joint with Alexandros Vardoulakis


Field of Expertise:

Public Finance

Open Economy Macroeconomics

Macro-Financial Issues

Economic Modeling

IMF Books and Working Papers:

Financial Amplification of Labor Supply Shocks , Working Paper No. 20/189 , September 18, 2020

Optimal Macroprudential Policy and Asset Price Bubbles , Working Paper No. 19/184 , August 30, 2019

Structural Reform Priorities for Brazil , Working Paper No. 18/224 , October 08, 2018

Fear Thy Neighbor: Spillovers from Economic Policy Uncertainty , Working Paper No. 17/240 , November 15, 2017

Testing Shock Transmission Channels to Low-Income Developing Countries , Working Paper No. 16/102 , May 23, 2016

IMF Country Reports

2018 Article IV Brazil

2017 Article IV Brazil

iMFdirect Blog Posts

Housing Prices Continue to Soar in Many Countries Around the World

Fiscal Discipline and Real Interest Rates

Selected Issue

EMBI Spreads: External Factors, and the Impact of Fiscal Consolidation (joint with M. Sasson), 2019 Ecuador Article IV

The Effect of Fiscal Consolidation on Real Interest Rates in Emerging Market Economies, 2017 Brazil Article IV

Other Published Materials

Sudden Stops and Optimal Policy in a Two-agent Economy, joint with Alexandros Vardoulakis, 2022, IMF working paper WP/22/147

House Prices and Consumer Price Inflation, Box 1.1 in Oct 2021 IMF WEO Chapter 1: Recovery During a Pandemic

Policies to Mitigate the Pandemic Fallout

Research Department Covid-19 Note: Bringing down the house: Real estate markets during the Covid-19 pandemic, joint with Deniz Igan

Research Department Covid-19 Note: Policies to mitigate the financial amplification of pandemics

Financial Amplification of Labor Supply Shocks, joint with Alexandros Vardoulakis, 2020, IMF working paper WP/20/189

Optimal Macroprudential Policy in Presence of Asset Price Bubbles, joint with Lucyna Gornicka and Alexandros Vardoulakis, 2019, IMF working paper WP/19/184

Prioritization of Structural Reforms in Brazil, joint with Damiano Sandri, 2018, IMF working paper WP/18/224

Fear Thy Neighbor: Spillovers from Economic Policy Uncertainty, joint with Francesco Grigoli and Martina Hengge, 2017, IMF working paper WP/17/240

Testing Shock Transmission Channels to Low Income Developing Countries, joint with Alexis Meyer-Cirkel, 2016, IMF working paper WP/16/102

Nina Biljanovska

Nina Biljanovska is an Economist at the Macro-Financial Division of the Research Department. Previously she worked in the Institute for Capacity Development and on the Brazil and Ecuador teams in the Western Hemisphere Department. She holds a Ph.D. in Economics from Goethe University Frankfurt. Her research interests include macro-policy, financial regulation, and behavioral finance.

Email: NBILJANOVSKA@imf.org

Personal WebPage: https://sites.google.com/site/biljanovska/

Education:

PhD Economics, Goethe University Frankfurt, 2010-2015

MSc Money and Finance, Goethe University Frankfurt, 2008-2010

BSc Business Administration, UNYP, Czech Republic, 2004-2008


Previous Experience:

Economist Program, IMF Institute for Capacity Development, Sep 2015-Mar 2017

Economist Program, IMF Western Hemisphere Department, Mar 2017-Sep 2018


Referee Activities:

International Journal of Central Banking, Macroeconomic Dynamics, Journal of Banking and Finance, Journal of Financial Stability, Journal of Economic Dynamics and Control


Awards and Honors:

IMF Innovation Initiative, Building Indexes of Behavioral Biases (team member), $35K


Current Position:

Economist, IMF Research Department, Macro-Financial Division


Country work or Mission Assignment:

Cyprus (Art. IV, 2023), Brazil (Art. IV, 2017, 2018), Ecuador, Singapore (capacity development), Georgia (capacity development)


Work in progress:

Optimal Mortgage Regulation and Income Inequality, joint with Alexandros Vardoulakis


Field of Expertise:

Public Finance

Open Economy Macroeconomics

Macro-Financial Issues

Economic Modeling

IMF Books and Working Papers:

Financial Amplification of Labor Supply Shocks , Working Paper No. 20/189 , September 18, 2020

Optimal Macroprudential Policy and Asset Price Bubbles , Working Paper No. 19/184 , August 30, 2019

Structural Reform Priorities for Brazil , Working Paper No. 18/224 , October 08, 2018

Fear Thy Neighbor: Spillovers from Economic Policy Uncertainty , Working Paper No. 17/240 , November 15, 2017

Testing Shock Transmission Channels to Low-Income Developing Countries , Working Paper No. 16/102 , May 23, 2016

IMF Country Reports

2018 Article IV Brazil

2017 Article IV Brazil

iMFdirect Blog Posts

Housing Prices Continue to Soar in Many Countries Around the World

Fiscal Discipline and Real Interest Rates

Selected Issue

EMBI Spreads: External Factors, and the Impact of Fiscal Consolidation (joint with M. Sasson), 2019 Ecuador Article IV

The Effect of Fiscal Consolidation on Real Interest Rates in Emerging Market Economies, 2017 Brazil Article IV

Other Published Materials

Sudden Stops and Optimal Policy in a Two-agent Economy, joint with Alexandros Vardoulakis, 2022, IMF working paper WP/22/147

House Prices and Consumer Price Inflation, Box 1.1 in Oct 2021 IMF WEO Chapter 1: Recovery During a Pandemic

Policies to Mitigate the Pandemic Fallout

Research Department Covid-19 Note: Bringing down the house: Real estate markets during the Covid-19 pandemic, joint with Deniz Igan

Research Department Covid-19 Note: Policies to mitigate the financial amplification of pandemics

Financial Amplification of Labor Supply Shocks, joint with Alexandros Vardoulakis, 2020, IMF working paper WP/20/189

Optimal Macroprudential Policy in Presence of Asset Price Bubbles, joint with Lucyna Gornicka and Alexandros Vardoulakis, 2019, IMF working paper WP/19/184

Prioritization of Structural Reforms in Brazil, joint with Damiano Sandri, 2018, IMF working paper WP/18/224

Fear Thy Neighbor: Spillovers from Economic Policy Uncertainty, joint with Francesco Grigoli and Martina Hengge, 2017, IMF working paper WP/17/240

Testing Shock Transmission Channels to Low Income Developing Countries, joint with Alexis Meyer-Cirkel, 2016, IMF working paper WP/16/102

Publications in Journals (Refereed)

Fear Thy Neighbor: Spillovers from Economic Policy Uncertainty, Review of International Economics, 2021 (joint with Francesco Grigoli and Martina Hengge)

Capital Taxation with Heterogeneous Discounting and Collateralized Borrowing, Journal of Macroeconomics, 2019 (joint with A. Vardoulakis)

Control thyself: Self-control Failure and Household Wealth, Journal of Banking & Finance, 2018 (joint with S. Palligkinis)

Optimal Policy in Collateral Constrained Economies. Macroeconomic Dynamics, 2017