Lennard Welslau
Lennard is a Research analyst at Bruegel. His research interests lie in the fields of macroeconomics, international economics, and data science. He studied Philosophy, Politics and Economics in Freiburg and Buenos Aires and holds an MSc in Economics from the University of Copenhagen. In his thesis, he used a small open economy heterogeneous agent New Keynesian (HANK) model to investigate the role of wage flexibility in countries facing external demand and interest rate shocks.
Prior to joining Bruegel, he worked as a trainee with the European Central Bank, held research assistant positions at the Walter Eucken Institute and the Copenhagen Business School, and contributed to the work of the UN Economic Commission for Latin America and the Caribbean (ECLAC) as a research consultant, working on empirical trade modelling.
Lennard is a native German speaker and is fluent in English and Spanish.
Featured work
The EU needs a methodology for including reform impacts in fiscal trajectories
Such a methodology, and a governance mechanism for managing associated risks, must be in place before the new fiscal framework kickstarts in September
Incorporating the impact of social investments and reforms in the European Union’s new fiscal framework
This paper proposes an approach for quantifying the impact of public investments and reforms on debt sustainability
Inflation inequality in the European Union and its drivers
What will it cost the European Union to pay its economic recovery debt?
Servicing the EU debt until 2058 seems feasible, despite increased borrowing costs, but member countries must make choices about budget funding
An estimate of the European Union’s long-term borrowing cost bill
A quantitative evaluation of the European Commission’s fiscal governance proposal
This paper focuses on the fiscal adjustment that the first regulation would require of countries with debt above the treaty benchmarks.
The rising cost of European Union borrowing and what to do about it
Interest rates on the EU debt have risen substantially since 2022: what are the main drivers and implications and what to do about it?
Internationale Staatsverschuldung, Schuldenrestrukturierungen und mögliche Handlungsoptionen für das BMZ
The longer-term fiscal challenges facing the European Union
Since 2020, the European Union has suffered two large shocks, which have created new fiscal challenges for the EU.
The EU Recovery and Resilience Facility falls short against performance-based funding standards
The rules and guidance underpinning EU economic recovery funds seek inputs and outputs, not results; this has led to uneven use of results indicators
First lessons from the Recovery and Resilience Facility for the EU economic governance framework
This study draws out lessons for the future of the EU economic governance framework from certain aspects of the RRF design.
European Union countries’ recovery and resilience plans
Is Europe failing on import diversification?
Despite a goal of economic self-reliance, the European Union’s imports are generally sourced from an increasingly limited set of suppliers.
Does inflation hit the poor hardest everywhere?
Low-income households suffer most from high inflation, but in some European Union countries the inflation burden is felt more equally than others.