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A small estimated euro area model with rational expectations and nominal rigidities

Coenen, Günter; Wieland, Volker - 2003

In this paper we estimate a small model of the euro area to be used as a laboratory for evaluating the performance of alternative monetary policy strategies. We start with the relationship between output and inflation and investigate the fit of the nominal wage contracting model due to Taylor...

Persistent link: https://www.econbiz.de/10009765350

The New Area-Wide Model II : an extended version of the ECB's micro-founded model for forecasting and policy analysis with a financial sector

Coenen, Günter; Karadi, Peter; Schmidt, Sebastian; … - 2018

This paper provides a detailed description of an extended version of the ECB's New Area-Wide Model (NAWM) of the euro area (cf. Christoffel, Coenen, and Warne 2008). The extended model - called NAWM II - incorporates a rich financial sector with the threefold aim of (i) accounting for a genuine...

Persistent link: https://www.econbiz.de/10011928964

Macroeconomic effects of carbon transition policies : an assessment based on the ECB's New Area-Wide Model with a disaggregated energy sector

Coenen, Günter; Lozej, Matija; Priftis, Romanos - 2023

We use scenario analysis to assess the macroeconomic effects of carbon transition policies aimed at mitigating climate change. To this end, we employ a version of the ECB's New Area-Wide Model (NAWM) augmented with a framework of disaggregated energy production and use, which distinguishes...

Persistent link: https://www.econbiz.de/10014315252

Macroeconomic effects of carbon transition policies : an assessment based on the ECB's new area-wide model with a disaggregated energy sector

Coenen, Günter; Lozej, Matija; Priftis, Romanos - 2023

Persistent link: https://www.econbiz.de/10014334540

Mere criticism of the ECB is no solution

Fratzscher, Marcel; Gropp, Reint; Kotz, Hans-Helmut; … - 2015

The eurozone remains in a deep, largely macro-economic crisis. A robust global economy and falling oil prices have … supported Europeś economy for some time, but by now it is clear that the eurozone will only be able to pull itself out of this …

Persistent link: https://www.econbiz.de/10011449399