Nicholas Sander is a Senior Economist in the International Economic Analysis Department. His research interests are in International Macroeconomics and Finance. He received his Ph.D. in economics from the University of California Berkeley.

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Staff working papers

Fiscal Policy in the Age of COVID-19: Does It “Get in All of the Cracks”?

The COVID-19 pandemic has caused an atypical recession in which some sectors of the economy boomed and others collapsed. This required a unique fiscal policy reaction to both support firms and stimulate activity in sectors with slack. Was fiscal policy able to get where it was needed? Mostly, yes.

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Journal publications

Refereed journals

  • “Modelling the business cycle of a small open economy: The Reserve Bank of New Zealand’s DSGE model”
    (with Gunes Kamber, Chris McDonald and Konstantinos Theodoridis) Economic Modelling (2016)
  • “Estimating the effect on grades of using multiple-choice versus constructive-response questions: Data from the classroom.”
    (with Stephen Hickson and Robert Reed) Educational Assessment (2012)



  • “COVID-19 and SMEs: a 2021 “Time Bomb”?”
    (with Pierre-Olivier Gourinchas, Şebnem Kalemli Özcan and Veronika Penciakova) AER Papers and Proceedings forthcoming May 2021.
  • “COVID-19 and SME Failures”
    (with Pierre-Olivier Gourinchas, Şebnem Kalemli Özcan and Veronika Penciakova)
  • “Causal Effects of Capital Inflows”
    (Job Market Paper)