This paper furnishes an inclusive framework to examine the welfare effects of the interventions of multiple policies, and other exterior alterations under imperfect competition and an assertion on particular and .the leading case of the ad valorem taxes. In particular, for the tax pass-through,...

Non-Maturing Deposit (NMD) pass-through rate represents a key parameter needed in the process of interest rate management of the banking book (IRRBB). NMD interest rates for retail and corporate segments are usually not directly linked to the market interest rates, but depend rather on the...

Impulse response functions (IRFs) offer little insight regarding the channels by which a shock propagates through a dynamical system. I formulate the concept of a pass-through impulse response function (PT-IRF), which measures the passage of a structural shock through specific sets of variables...

This paper outlines the three-country New Keynesian Dynamic Stochastic General Equilibrium model of the National Bank of Belgium. The model is named BEMGIE for Belgian Economy in a Macro General and International Equilibrium model. It features imperfect market competition, standard real and...