Martina Hengge

I am an Economist in the Macrofinancial Unit at the IMF's Strategy, Policy, and Review Department. 

1900 Pennsylvania Ave NW, Washington DC, 20431


Get in touch at: mhengge[at]

All views expressed on this site are my own and do not necessarily reflect the position of the International Monetary Fund, its Executive Board, or Management. 

Research & Policy

Papers and Work in Progress

 A Primer on Bitcoin Capital Flows: Measurement and Drivers with E. Cerutti and J. Chen, IMF Working Paper 2024/85. 

Coverage: Financial Times

Carbon Policy Surprises and Stock Returns: Signals from Financial Markets with U. Panizza and R. Varghese, IMF Working Paper 2023/013 (submitted).

Coverage: VoxEU, speech by Catherine Mann

Capital Markets, Covid-19, and Policy Measures with K. ElFayoumi, IMF Working Paper 2021/033 (submitted).

Coverage: VoxEU

Fear Thy Neighbor: Spillovers from Economic Policy Uncertainty with N. Biljanovska and F. Grigoli, Review of International Economics 29(2), 2021. 

Working Papers

Effective Monetary-Fiscal Interactions in Severe Recessions with J. Chen, R. A. Espinoza, C. Goncalves, T. Gudmundsson, Z. Jakab and J. Lindé , IMF Working Paper 2022/170. 

Uncertainty as Predictor of Economic Activity, IHEID Working Paper 19-2019.

Factor Models for Non-Stationary Series: Estimates of Monthly U.S. GDP with S. Leonard, IHEID Working Paper 13-2017.