Publications
You can also find my articles on my Google Scholar profile.
Published in Bank of England Working Paper, 2021
This paper analyses cash flows of all UK SMEs during the Covid-19 crisis.
Recommended citation: Hurley, J., Karmakar, S., Markoska, E., Walczak, E., Walker, D. (2021). Impacts of the Covid-19 crisis: evidence from 2 million UK SMEs. Bank of England Staff Working Paper No. 924. https://www.bankofengland.co.uk/-/media/boe/files/working-paper/2021/impacts-of-the-covid-19-crisis-evidence-from-2-million-uk-smes.pdf
Published in Journal of Monetary Economics, 2019
We conducted large online experiments with representative samples of the UK population showing how simple and relatable information can make central banks’ communication easier to understand.
Recommended citation: Bholat, D., Broughton, N., Ter Meer, J., Walczak, E. (2019). Enhancing central bank communications using simple and relatable information. Journal of Monetary Economics, 108, 1-15. https://doi.org/10.1016/j.jmoneco.2019.08.007
Published in Bank of England Staff Working Paper, 2019
This paper is about measuring complexity of banking regulations. We use multiple measures and show how complexity increased following the post-2007 reforms.
Recommended citation: Amadxarif, Z., Brookes, J., Garbarino, N., Patel, R., Walczak, E. (2019). The language of rules: textual complexity in banking reforms. Bank of England Staff Working Paper No. 834. https://www.bankofengland.co.uk/-/media/boe/files/working-paper/2019/the-language-of-rules-textual-complexity-in-banking-reforms.pdf
Pending
- Gorduza, D., Suss, J., Walczak, E. Analysis of minutes of UK bank boards [working title]. Bank of England Staff Working Paper (on hold).
Reports and other contributions
- Scientific committee member for the 2025 and 2026 ECONDAT conferences on nontraditional data, machine learning, and NLP in macroeconomics.
- Contributor to Machine learning in UK financial services (2019), a joint Bank of England / FCA survey report.
- Scientific committee member assessing submissions for the open-access book Data Science for Economics and Finance (Springer, 2021).
- Advisory panel to Andrew Haldane (then Chief Economist of the Bank of England), supporting speech drafting with innovative analysis.
Policy impact
- Cited by central bank governors including Andrew Bailey (Bank of England), Christine Lagarde (ECB), Mark Carney (Bank of England), Mario Marcel (Central Bank of Chile), Gabriel Makhlouf (Central Bank of Ireland), and Jens Weidmann (Bundesbank).
- Research on the complexity of banking regulations formed the basis of Sam Woods’ (Deputy Governor, Bank of England) Strong and Simple speech, which led to the reform of credit union regulations.
- Research on central bank communications led to changes in the drafting of monetary policy communications worldwide.
