Lennard is a Research Assistant at Bruegel. His research interests lie in the fields of macroeconomics, international economics, and applied econometrics. 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.
This paper focuses on the fiscal adjustment that the first regulation would require of countries with debt above the treaty benchmarks.
Interest rates on the EU debt have risen substantially since 2022: what are the main drivers and implications and what to do about it?