Publications
You can also find my articles on my Google Scholar profile.
Peer-Reviewed Articles
Reimer, F., Guter-Sandu, A., Hass, A., Murau, S. (2025) “Schrödinger’s Off-Balance-Sheet Fiscal Agency: The Recovery and Resilience Facility and the Limits to Incremental Fiscal Integration in Europe”, Journal of European Integration, https://doi.org/10.1080/07036337.2025.2491618
Guter-Sandu, A., Haas, A., Murau, S. (2024) “Green Macro-Financial Governance in the European Monetary Architecture: Assessing the Capacity to Finance the Net-Zero Transition”, Competition and Change (special issue on Green Finance), https://doi.org/10.1177/10245294241275103
Murau, S., Haas, A., Guter-Sandu, A. (2023) “Monetary Architecture and the Green Transition”, Environment and Planning A: Economy and Space, https://doi.org/10.1177/0308518X231197296
Guter-Sandu, A. (2022) “Accounting Infrastructures and the Negotiation of Social and Economic Returns Under Financialization”, Competition and Change, https://doi.org/10.1177/102452942210856
Guter-Sandu, A. and Murau, S. (2022) “The Transformation of Eurozone Governance: Navigating Fiscal Discipline through Off-Balance Sheet Fiscal Agencies”, New Political Economy, https://doi.org/10.1080/13563467.2021.1910648
Guter-Sandu, A. (2021) “The Governance of Social Risks: Nurturing Solidarity through Social Impact Bonds?”, New Political Economy, https://doi.org/10.1080/13563467.2021.1899151
Guter-Sandu, A. and Kuznetsova, E. (2020) “Theorising Resilience: Russia’s Response to US and EU Sanctions”, East European Politics, https://doi.org/10.1080/21599165.2020.1743690
Working Papers
Guter-Sandu, A. (2025) “Securitising System Costs: The United Kingdom’s Arm’s-Length Derisking Regime for the Green Transition”, OBFA-TRANSFORM Working Paper No. 12-EN, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5747102
McEvoy, O., Kapff, M., Guter-Sandu, A. and Murau, S. (2025) “Mind the MacMillan Gap: Off-Balance-Sheet Fiscal Agencies in Britain’s Post-War Industrial Financing, 1945-1973”, OBFA-TRANSFORM Working Paper No. 10-EN, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5548960
McEvoy, O., Chaltiel, F., Guter-Sandu, A. and Murau, S. (2025) “A Silent Revolution in the Suburbs: Off-Balance-Sheet Fiscal Agencies in U.S. Mortgage Finance, 1932-1981”, OBFA-TRANSFORM Working Paper No. 11-EN, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5550699
Haas, A., Gradinger, V., Guter-Sandu, A. and Murau, S. (2025) “Après le Déluge. Managing Balance Sheet Contraction after the First World War”, OBFA-TRANSFORM Working Paper No. 8-EN, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5550283
Guter-Sandu, A., Gradinger, V., McEvoy, O. and Murau, S. (2025) “From Stabilisation to Strategic Mobilisation: The Exchange Equalisation Account as a British Wartime Off-Balance-Sheet Fiscal Agency, 1932-1945”, OBFA-TRANSFORM Working Paper No. 9-EN, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5502418
Haas, A., Guter-Sandu, A., McEvoy, O. and Murau, S. (2025) “All Quiet on the Fiscal Front? Off-Balance-Sheet Fiscal Agencies in the German War Economy, 1914-1918”, OBFA-TRANSFORM Working Paper No. 7-EN, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5378793
Haas, A., Reimer, F., Guter-Sandu, A. and Murau, S. (2024) “The Mefo Operation. A Macro-Financial Analysis of Camouflaged Sovereign Borrowing through Off-Balance-Sheet Fiscal Agencies, 1933-1945”, OBFA-TRANSFORM Working Paper No. 2-EN, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4929301
Laudage, G., Haas, A., Guter-Sandu, A. and Murau, S. (2024) “State Finance Beyond the Core Budget. Off-Balance-Sheet Fiscal Agencies in Germany’s Fiscal Ecosystem”, OBFA-TRANSFORM Working Paper No. 1-EN, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4910502
Book Chapters
Murau, S., Haas, A., Guter-Sandu, A. (2025) “Theorie der monetären Architektur und die Rolle des Staates in der Finanzierung der grünen Transformation”. In Huhnholz, S., Sahr, A., and Weiler, E. (2025) Politische Theorien öffentlicher Finanzen Zur (De-)Politisierung von Geld, Eigentum und Steuern. Nomos.
Guter-Sandu, A. and Mennicken, A. (2022) “Quantification = Economization? Numbers, Ratings, and Rankings in the Prison Service of England and Wales”. In The New Politics of Numbers, Salais, R and Mennicken, A. (Eds.). Palgrave Macmillan.
Iloga Balep, N., Guter-Sandu, A., Mennicken, A. and Huber, C. (2021) “Comparability, Competition and Control: Performance Management in the Correctional Services of Germany and England and Wales” in Wirth, W. and Maelicke, B. (Eds.) Steuerung und Erfolgskontrolle im Strafvollzug. Springer.
Nesvetailova, A. and Guter-Sandu, A. (2015) “The Good, the Bad, and the Fraud: Securitisation and Financial Crime in Light of the Global Financial Crisis” in Ryder, N., Turksen, U., & Hassler, S. (Eds.). Fighting Financial Crime in the Global Economic Crisis. Routledge.
Policy Reports and Others
Guter-Sandu, A., Murau, S., Haas, A. (2024) “Monetary Architecture and the Green Transition. What Role for Central Banks?” Just Money Symposium on Central Banks & the Climate Crisis. https://justmoney.org/monetary-architecture-green-transition-what-role-for-central-banks/
Haas, A., Guter-Sandu, A., and Murau, S. (2023) “Horrorszenario für die Welt: Droht ein Zahlungsausfall der USA?”. Tagesspiegel online and print, May 03, 2023. https://www.tagesspiegel.de/internationales/horrorszenario-fur-die-welt-droht-ein-zahlungsausfall-der-usa-9749696.html
Guter-Sandu, A. and Murau, S. (2020) “Putting Off-Balance-Sheet Fiscal Agencies under the Control of the European Parliament Could Help Democratise Eurozone Governance”. November 24, 2020. EUROPP: European Politics and Policy Blog. https://blogs.lse.ac.uk/europpblog/2020/11/24/putting-off-balance-sheet-fiscal-agencies-under-the-control-of-the-european-parliament-could-help-democratise-eurozone-governance/
Guter-Sandu, A. and Murau, S. (2020) “Financing the Green Transition through Off-Balance-Sheet Fiscal Agencies”. Institute for Advanced Sustainability Studies blog. https://www.iass-potsdam.de/en/blog/2020/10/financing-green-transition-through-balance-sheet-fiscal-agencies
Guter-Sandu, A. and Murau, S. (2020) “‘Die Demokratisierung der Eurozone”. Wirtschaftswoche online, October 14, 2020. https://www.wiwo.de/my/politik/europa/essaypreis-europaeische-geldpolitik-die-demokratisierung-der-eurozone/26257170.html
Guter-Sandu, A. and Murau, S. (2020) “Democratising Eurozone governance? Place ‘off-balance-sheet fiscal agencies’ under the European Parliament’s budget authority”. Won 2nd place at the Hertie Foundation essay competition on the relationship between democracy and economy. https://www.ghst.de/essaypreis/?fbclid=IwAR1iF4ebZJwnZZXJDXqfC-cl-4BKqwhRr4AbliljxWqJkG86gzdOEgV_9Z0
Bolanos, J. and Guter-Sandu, A. (2020) “Governments are demanding more and faster data than ever. That carries risks”. May 19, 2020. LSE Blogs. https://blogs.lse.ac.uk/covid19/2020/05/19/governments-are-demanding-more-and-faster-data-than-ever-that-carries-risks/
Nesvetailova, A., Guter-Sandu, A., Palan, R. and Millo, Y. (2018) “Tax Evasion and Avoidance through Financial Engineering. The State of Play in Europe”. COFFERS report. http://coffers.eu/wp-content/uploads/2019/11/D1.7-Working-Paper.pdf
Nesvetailova, A., Guter-Sandu, A. and Palan, R. (2018) “Tax Evasion and Avoidance through Financial Engineering. Implications for Policy”. COFFERS policy brief. http://coffers.eu/wp-content/uploads/2019/11/D1.6-Policy-Briefs.pdf
Murphy, R. and Guter-Sandu, A. (2018) “Resources Allocated to Tackling the Tax Gap: A Comparative EU Study”. COFFERS working paper. http://coffers.eu/wp-content/uploads/2019/11/D1.5-Working-Paper.pdf