Krustev, Georgi



Business Cycle Analysis

Current position

Senior Economist

Fields of interest

Macroeconomics and Monetary Economics,
Financial Economics


  • 2010-2017
    Doctorate in Economics, Goethe University Frankfurt, Germany
  • 2005-2006
    MEconSc in European Economic and Public Affairs, University College Dublin, Ireland
  • 1997-2002
    Laurea in Economics and Banking, University of Siena, Italy
Professional experience
  • 2008-
    DG Economics and DG International, European Central Bank
  • 2015
    Visiting Economist, DG Research, European Central Bank
  • 2015
    Visiting Economist, International Department, Bank of Canada
  • 2003-2008
    Treasury Department, Bulgarian National Bank

Journal publications

Casalis, A. and Krustev, G.
Cyclical drivers of euro area consumption: What can we learn from durable goods?
Journal of International Money and Finance, Forthcoming
Krustev, G.
The natural rate of interest and the financial cycle
Journal of Economic Behavior and Organization, 162(C), 193-210
Albuquerque, B. and Krustev, G.
Debt Overhang and Deleveraging in the US Household Sector: Gauging the Impact on Consumption
Review of Income and Wealth, 64(2), 459-481
Albuquerque, B., Baumann, U. and Krustev, G.
US Household Deleveraging Following the Great Recession – A Model-Based Estimate of Equilibrium Debt
The B E Journal of Macroeconomics, 15(1), 255-307

Other publications

Albuquerque, B., Baumann, U. and Krustev, G.
Has US household deleveraging ended? A model-based estimate of equilibrium debt
VoxEU article