Wolfgang Modery heads the Supply Side, Labour, and Surveillance Division of the Directorate General Economics of the European Central Bank. His team provides in-depth analysis, policy advice and publications on a broad portfolio of macroeconomic issues. Previously, he was Counsellor to the Executive Board, Adviser and Head of the Policy Assessment Section in the Directorate Monetary Policy, and Senior Adviser in the Directorate General Economics of the European Central Bank. In his various advisory and managerial roles, Mr Modery has regularly contributed to the preparation of Governing Council meetings and the formulation of policy positions for European and international fora. Before joining the European Central Bank, he was economist at the International Department of the Deutsche Bundesbank. Mr Modery holds a doctorate in Economics. His research focus at university was on monetary policy and European monetary integration.