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Both of the students’ joint research with Lumsdaine are highly policy-relevant. “The Impact of the ECB’s Extended Asset Purchase Programme on Euro-Area Inflation: A Synthetic Control Assessment” was developed with Andreea Dedea (currently a master’s student in the Econometric Institute) from her bachelor’s thesis. This research examines the role exclusion of owner-occupied housing costs in the European Central Bank’s (ECB) benchmark inflation index might have had in decisions regarding the policy response to observed inflation patterns. ‘It’s very motivating to realise that already from a bachelor level, one can conduct meaningful research, of course, thanks to the right guidance. It was extremely rewarding to be part of this open-minded research community, where everyone is genuinely excited to carry out fruitful discussions and encourage you to pursue further research paths,’ Dedea explains. 

“Convergence of COVID Policy: Testing Persuasion Bias” joint with Greta Wackerbauer, who completed her master’s degree in 2023 and is now working as a consultant at Accenture. The paper, based on Greta’s master’s thesis, considers whether the views of policymakers and their scientific advisors were aligned in the first year of the COVID pandemic, in both the Netherlands and the UK. ‘It’s very fascinating to see the academic world close-up and to be able to discuss research with so many other academics. It was an invaluable and inspiring experience,’ Wackerbauer noted. ‘Life-changing’ Dedea added. For both students, it was their first international conference.