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Mehl, Arnaud

International & European Relations

Division

International Policy Analysis

Current position

Adviser

Fields of interest

International Economics

Email

arnaud.mehl@ecb.int

Other current responsibilities
  • 2020-
    Research fellow, Centre for Economic Policy Research
  • 2018-
    Associate Editor, Journal of International Money and Finance
  • 2015-
    Editorial Board Member, ECB Working Paper Series
  • 2013-
    Research Associate, Globalization and Monetary Policy Institute, Federal Reserve Bank of Dallas
Education
  • 1997-2000
    PhD in Economics, Université Paris-IX Dauphine, Paris, France
  • 1998-1999
    Visiting Student, University of Oxford, Oxford, UK
  • 1993-1996
    MA in Political Science, Sciences-Po, Paris, France
  • 1992-1995
    MA in Business Studies, ESCP Europe, Paris, France
Professional experience
  • 2019-
    Adviser - International Policy Analysis Division, Directorate General International and European Relations, European Central Bank
  • 2008-2018
    Principal Economist - International Policy Analysis Division, Directorate General International and European Relations, European Central Bank
  • 2004-2007
    Senior Economist - Multilateral, Asia-Pacific and Western Hemisphere Division, Directorate General International and European Relations, European Central Bank
  • 2001-2003
    Economist - EU Neighbouring Regions Division, Directorate General International and European Relations, European Central Bank
  • 2001
    Quantitative Analyst - Edmond de Rothschild Group, Paris, France
  • 1998-1999
    Junior Economist - French Treasury Agency, Vienna, Austria

ECB Working Paper Series

2020
Ferrari, Massimo Minesso, Mehl, Arnaud, Stracca, Livio
Central bank digital currency in an open economy
No 2488
Boz, Emine, Casas, Camila, Georgiadis, Georgios, Gopinath, Gita, Le Mezo, Helena, Mehl, Arnaud, Nguyen, Tra
Patterns in invoicing currency in global trade
No 2456
2019
Corsetti, Giancarlo, Lafarguette, Romain, Mehl, Arnaud
Fast trading and the virtue of entropy: evidence from the foreign exchange market
No 2300
Mehl, Arnaud, Schmitz, Martin, Tille, Cédric
Distance(s) and the volatility of international trade(s)
No 2252
Eichengreen, Barry, Mehl, Arnaud, Chiţu, Livia
Mars or mercury redux: the geopolitics of bilateral trade agreements
No 2246
2018
Dedola, Luca, Georgiadis, Georgios, Gräb, Johannes, Mehl, Arnaud
Does a big bazooka matter? Central bank balance-sheet policies and exchange rates
No 2197
2016
Mehl, Arnaud, Eichengreen, Barry, Lafarguette, Romain
Cables, Sharks and Servers: Technology and the Geography of the Foreign Exchange Market
No 1889
2014
Mehl, Arnaud, Eichengreen, Barry, Chiţu, Livia
Stability or upheaval? The currency composition of international reserves in the long run
No 1715
Mehl, Arnaud, Eichengreen, Barry, Chiţu, Livia, Richardson, Gary
Mutual assistance between Federal Reserve Banks, 1913-1960 as prolegomena to the TARGET2 debate
No 1686
Mehl, Arnaud, Eichengreen, Barry, Chiţu, Livia
Network effects, homogeneous goods and international currency choice: new evidence on oil markets from an older era
No 1651
2013
Mehl, Arnaud
Large global volatility shocks, equity markets and globalisation: 1885-2011
No 1548
2012
Mehl, Arnaud, Eichengreen, Barry, Chiţu, Livia
History, gravity and international finance
No 1466
Mehl, Arnaud, Eichengreen, Barry, Chiţu, Livia
When did the dollar overtake sterling as the leading international currency? Evidence from the bond markets
No 1433
2011
Fratzscher, Marcel, Mehl, Arnaud
China's dominance hypothesis and the emergence of a tri-polar global currency system
No 1392
Ehrmann, Michael, Fratzscher, Marcel, Mehl, Arnaud, Bekaert, Geert
Global crises and equity market contagion
No 1381
Chudik, Alexander, Bussière, Matthieu, Mehl, Arnaud
Does the euro make a difference? Spatio-temporal transmission of global shocks to real effective exchange rates in an infinite VAR
No 1292
2008
Fratzscher, Marcel, Mehl, Arnaud
Do China and oil exporters influence major currency configurations?
No 973
2007
Cappiello, Lorenzo, Mehl, Arnaud
Uncovered interest parity at distant horizons: evidence on emerging economies & nonlinearities
No 801
2006
Mehl, Arnaud
The yield curve as a predictor and emerging economies
No 691
2005
Mehl, Arnaud, Reynaud, Julien
The determinants of "domestic" original sin in emerging market economies
No 560

ECB Occasional Paper Series

2008
Mehl, Arnaud, Bussière, Matthieu
China's and India's roles in global trade and finance: twin titans for the new millennium?
No 80
2004
Mehl, Arnaud, Geis, André, Wredenborg, Stefan
The international role of the euro: evidence from bonds issued by non-euro area residents
No 18
Backé, Peter, Thimann, Christian, Arratibel, Olga, Calvo-Gonzalez, Oscar, Mehl, Arnaud, Nerlich, Carolin
The acceding countries’ strategies towards ERM II and the adoption of the euro: an analytical review
No 10
2002
Thimann, Christian, Mazzaferro, Francesco, Mehl, Arnaud, Sturm, Michael, Winkler, Adalbert
Economic relations with regions neighbouring the euro area in the "euro time zone"
No 7

ECB Research bulletin

2020
Dedola, Luca, Georgiadis, Georgios, Gräb, Johannes, Mehl, Arnaud
Does a big bazooka matter? Quantitative easing policies and exchange rates
No 76

Journal publications

2020
Eichengreen, B., Mehl, A. and Chitu, L.
Mars or Mercury Redux: The Geopolitics of Bilateral Trade Agreements
The World Economy, Forthcoming
Dedola, L., Georgiadis, G., Gräb, J. and Mehl, A.
Does a Big Bazooka Matter? Quantitative Easing Policies and Exchange Rates
Journal of Monetary Economics, Forthcoming
2019
Eichengreen, B., Mehl, A. and Chitu, L.
Mars or Mercury? The Geopolitics of International Currency Choice
Economic Policy, Vol. 34(98), pp. 315–363
Bekaert, G. and Mehl, A.
On the global financial market integration “swoosh” and the trilemma
Journal of International Money and Finance, Vol. 94, pp. 227-245
2016
Georgiadis, G. and Mehl, A.
Financial globalisation and monetary policy effectiveness
Journal of International Economics, Vol. 103(C), pp. 200-212
Eichengreen, B., Chitu, L. and Mehl, A.
Stability or upheaval? The currency composition of international reserves in the long run
IMF Economic Review, Vol. 64(2), pp. 354-380
Eichengreen, B., Chiţu, L. and Mehl, A.
Network effects, homogeneous goods and international currency choice
Canadian Journal of Economics, Vol. 49(1), pp. 173-206
2015
Eichengreen, B., Mehl, A., Chiţu, L. and Richardson, G.
Mutual assistance between Federal Reserve Banks, 1913-1960 as prolegomena to the TARGET2 debate
Journal of Economic History, Vol. 75(3), pp. 621-659
2014
Bekaert, G., Ehrmann, M., Fratzscher, M. and Mehl, A.
The global crisis and equity market contagion
Journal of Finance, Vol. 69(6), pp. 2597-2649
Fratzscher, M. and Mehl. A.
China’s ‘dominance hypothesis’ and the emergence of a tri-polar international monetary system
Economic Journal, Vol. 124(581), pp. 1343–1370
Chiţu, L., Eichengreen, B. and Mehl, A.
When did the US dollar overtake sterling as the leading international currency? Evidence from the bonds markets
Journal of Development Economics, Vol. 111, pp. 225-245
Chiţu, L., Eichengreen, B. and Mehl, A.
History, gravity and international finance
Journal of International Money and Finance, Vol. 46(C), pp. 104-129
2013
Bussière, M., Chudik, A. and Mehl, A.
How have global shocks impacted the real effective exchange rates of individual euro area countries since the euro’s creation?
B.E. Journal of Macroeconomics, Vol. 13(1), pp. 1-48
2011
Fratzscher, M., Mehl, A. and Vansteenkiste, I.
130 years of fiscal vulnerabilities and currency crashes in advanced economies
IMF Economic Review, Vol. 59(4), pp. 683-716
2010
Reynaud, J. and Mehl, A.
Risky public domestic debt composition in emerging economies
Journal of International Money and Finance, Vol. 37, pp. 335–358
2009
Fratzscher, M. and Mehl, A.
Do China and oil exporters influence major currency configurations?
Journal of Comparative Economics, Vol. 37, pp. 335–358
Cappiello, L. and Mehl, A.
Uncovered interest parity at long horizons: evidence on emerging economies
Review of International Economics, 17(5), pp. 1019-1037
Mehl, A.
The yield curve as a predictor and emerging economies
Open Economies Review, Vol. 20(5), pp. 683-716
2000
Mehl, A.
Unit root tests with double trend breaks and the 1990s recession in Japan
Japan and the World Economy, Vol. 12(4), pp. 363-379

Other publications

2017
Eichengreen, B., Mehl, A. and Chitu, L.
How Global Currencies Work
Princeton University Press, Book (English version, 1st edition)
2006
Mehl, A., Vespro, C. and Winkler, A.
Financial sector development in South-Eastern Europe: quality matters
Financial development, integration and stability – Evidence from Central, Eastern and South-Eastern Europe, Edward Elgar, pp. 186-203
2005
Fehlker C., Mehl, A. and Winkler, A.
Financial stability in Southeast Europe - Basel II and the challenges ahead
EU accession – Financial sector opportunities and challenges for Southeast Europe, Springer Verlag, pp. 113-123.
2004
Mehl, A.and Winkler, A.
The financial sector and economic development: evidence from Southeast Europe
The development of the financial sector in Southeast Europe: innovative approaches in a volatile environment, Springer Verlag, pp. 186-203
2020
Dedola, L., Georgiadis, G., Gräb, J. and Mehl, A.
Quantitative easing policies and exchange rates
VoxEU article
Ferrari, M., Mehl, A. and Stracca, L.
The international dimension of a central bank digital currency
VoxEU article
Boz, E., Casas, C., Georgiadis, G., Gopinath, G., Le Mezo, H., Mehl, A. and Nguyen, T.
Patterns in invoicing currency in global trade
VoxEU article
Ferrari, M., Mehl, A. and Stracca, L.
Central bank digital currency in an open economy
CEPR Discussion Paper
Mehl, A., Schmitz, M. and Tille, C.
Distance makes international linkages more volatile
VoxEU article
2019
Eichengreen, B., Mehl, A. and Chitu, L.
The geopolitics of bilateral trade agreements
VoxEU article
2018
Eichengreen, B., Mehl, A. and Chitu, L.
The geopolitics of international currency choice
VoxEU article
2017
Eichengreen, B., Lafarguette, R. and Mehl, A.
Thick vs. thin-skinned: technology, news and financial market reaction
IMF Working Paper, WP 17/91
Eichengreen, B., Lafarguette, R. and Mehl, A.
Speed limits for financial markets? Not so fast
IMFBlog
2016
Eichengreen, B., Lafarguette, R. and Mehl, A.
Cables, sharks and servers: technology and the geography of the foreign exchange market
NBER Working Paper, No. 21884
Eichengreen, B., Lafarguette, R. and Mehl, A.
Cables, sharks, and the geography of the foreign exchange market
VoxEU article
Georgiadis, G. and Mehl, A.
Financial globalisation and monetary policy effectiveness
VoxEU article
De Paoli, B., Dedola, L., Goldberg, L. Mehl, A., Rogers, J., and Stracca L.
At the N.Y. Fed: Capital Flows, Policy Dilemmas, and the Future of Global Financial Integration
Liberty Street Economics, Federal Reserve Bank of New York
2014
Eichengreen, B., Mehl, A. and Chitu, L.
One or multiple international currencies? Evidence from the history of the oil market
VoxEU article
Eichengreen, B., Mehl, A. and Chitu, L.
The TARGET2 controversy: Old wine in a new bottle?
VoxEU article
2013
Beck, R. and Mehl, A.
What explains the recent rise in non-traditional reserve currencies?
VoxEU article
2012
Eichengreen, B., Mehl, A. and Chitu, L.
When did the dollar overtake sterling as the leading international currency? Evidence from the bond markets
VoxEU article
Eichengreen, B., Mehl, A. and Chitu, L.
History, gravity, and international finance
VoxEU article
2011
Bekaert, G., Ehrmann, M., Fratzscher, M. and Mehl, A.
Global crises and equity market contagion: Lessons from 2007-2009
VoxEU article
Fratzscher, M. and Mehl, A.
China’s dominance hypothesis and the emergence of a tripolar global currency system
VoxEU article