We assess the impact of oil shocks on euro-area macroeconomic variables by estimating a new-Keynesian small open … driver of higher oil prices is an increase in the rest of the world's aggregate demand, both euro-area GDP and CPI inflation … the euro-area economy. Moreover, the increase in oil prices during the 2004-2008 period did not induce stagflationary …

euro area by the Eurosystem. For this purpose we calibrate and simulate a monetary-union dynamic general equilibrium model … borrowing from domestic banks. We found that the March 2016 CSPP boosts euro-area GDP by around 0.3% in the second year (peak …

This paper evaluates the macroeconomic impact on the euro area (EA) of the imposition of tariffs by simulating a multi … the US and EA have negative effects on euro-area GDP and (ex-tariff) inflation. The effects are magnified if the ELB binds … in the EA. Third, if the elasticity of substitution among tradables is low, the spillovers on euro-area GDP of US …

We evaluate the exchange rate pass-through (ERPT) into euro area (EA) inflation by estimating an open economy New …

-country multi-sector dynamic general equilibrium model to one region within the euro area, the rest of the euro area and the rest of … euro area can favor an earlier exit from the ZLB if they have sufficiently inflationary effects, which happens when the …

A New Keynesian model calibrated to the euro area is used to evaluate the stabilization properties of alternative …