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Macroprudential policy in a monetary union with cross-border banking

Darracq Pariès, Matthieu; Kok Sørensen, Christoffer; … - 2019

We analyse the interaction between monetary and macroprudential policies in the euro area by means of a two-country DSGE model with ﬁnancial frictions and cross-border spillover eﬀects. We calibrate the model for the four largest euro area countries (i.e. Germany, France, Italy, and Spain),...

Persistent link: https://www.econbiz.de/10011996735

ECB-Global : introducing ECB's global macroeconomic model for spillover analysis

Dieppe, Alistair; Georgiadis, Georgios; Ricci, Martino; … - 2017

In a highly interlinked global economy a key question for policy makers is how foreign shocks and policies transmit to … the domestic economy. We develop a semi-structural multi-country model with rich real and financial channels of …

Persistent link: https://www.econbiz.de/10011636171

ECB-BASIR: a primer on the macroeconomic implications of the Covid-19 pandemic

Angelini, Elena; Damjanović, Milan; Darracq Pariès, … - 2020

This paper studies the macroeconomic consequences of the COVID-19 pandemic and makes a first step in adapting the central bank modelling apparatus to the new economic landscape. We augment the ECB-BASE model with the predictive dynamics of the SIR model in order to assess the interplay between...

Persistent link: https://www.econbiz.de/10012241217

Parsing financial fragmentation inthe euro area : a multi-country DSGE perspective

Darracq Pariès, Matthieu; Jacquinot, Pascal; … - 2016

Persistent link: https://www.econbiz.de/10011618209

Optimal monetary policy rules for the euro area : an analysis using the area wide model

Dieppe, Alistair (contributor); Küster, Keith (contributor) - 2004

Persistent link: https://www.econbiz.de/10002125159

Monetary policy and housing prices in an estimated DSGE for the US and the euro area

Darracq Pariès, Matthieu; Notarpietro, Alessandro - 2008

We estimate a two-country Dynamic Stochastic General Equilibrium model for the US and the euro area including relevant housing market features and examine the monetary policy implications of housing-related disturbances. In particular, we derive the optimal monetary policy cooperation consistent...

Persistent link: https://www.econbiz.de/10003825943

Optimal monetary policy and the transmission of oil-supply shocks to the euro area under rational expectations

Adjemian, Stéphane; Darracq Pariès, Matthieu - 2008

This paper presents first the estimation of a two-country DSGE model for the euro area and the rest-of-the-world including relevant oil-price channels. We then investigate the optimal resolution of the policy tradeoffs emanating from oil-price disturbances. Our simulations show that the...

Persistent link: https://www.econbiz.de/10003803330

The ECB's New Multi-Country Model for the euro area : NMCM - with boundedly rational learning expectations

Dieppe, Alistair; Pandiella, Alberto González; Hall, … - 2011

model of the economy, the minimal state variable solution (MSV), but they do not know the parameters. However, with medium … the rest of the economy, nor do they know the stochastic processes generating shocks hitting the economy. In addition … differences in the adjustment path to the shocks to the economy when agent form expectations using our learning approach compared …

Persistent link: https://www.econbiz.de/10008935830

The ECB's New Multi-Country Model for the euro area : NMCM - simulated with rational expectations

Dieppe, Alistair; González Pandiella, Alberto; … - 2011

-announced, announced and credible or unannounced and uncredible. - Macro model ; Open-economy macroeconomics ; Rational expectations …

Persistent link: https://www.econbiz.de/10008935832

A non-standard monetary policy shock : the ECB’s 3-year LTROs and the shift in credit supply

Darracq Pariès, Matthieu; De Santis, Roberto A. - 2013

Persistent link: https://www.econbiz.de/10009765558