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Unconventional monetary policy and the great recession : estimating the impact of a compression in the yield spread at the zero lower bound

Baumeister, Christiane; Benati, Luca - 2010

We explore the macroeconomic impact of a compression in the long-term bond yield spread within the context of the Great Recession of 2007-2009 via a Bayesian time-varying parameter structural VAR. We identify a 'pure' spread shock which, leaving the short-term rate unchanged by construction,...

Persistent link: https://www.econbiz.de/10008688522

Winners and losers of tax competition in the European Union

Mendoza, Enrique G.; Tesar, Linda L. - 2003

Persistent link: https://www.econbiz.de/10001816490

Global models for a global pandemic: the impact of COVID-19 on small euro area economies

García, Pablo; Jacquinot, Pascal; Lenarcic, Crt; … - 2021

next generation EU instrument is more effective when financed using a tax on consumption. …

Persistent link: https://www.econbiz.de/10012643287

The effect of macroprudential policies on credit developments in Europe 1995-2017

Budnik, Katarzyna - 2020

The paper inspects the credit impact of policy instruments that are commonly applied to contain systemic risk. It employs detailed information on the use of capital-based, borrowerbased and liquidity-based instruments in 28 European Union countries in 1995-2017 and a macroeconomic panel setup....

Persistent link: https://www.econbiz.de/10012271556

Labour tax reforms, cross-country coordination and the monetary policy stance in the euro area : a structural model-based approach

Jacquinot, Pascal; Lozej, Matija; Pisani, Massimiliano - 2018

We evaluate the effects of permanently reducing labour tax rates in the euro area (EA) by simulating a large-scale open economy dynamic general equilibrium model. The model features the EA as a monetary union, split in two regions (Home and the rest of the EA - REA), the US, and the rest of the...

Persistent link: https://www.econbiz.de/10011792134

Macroprudential regulation in the European Union in 1995-2014 : introducing a new data set on policy actions of a macroprudential nature

Budnik, Katarzyna; Kleibl, Johannes - 2018

the 28 member states of the European Union (EU) between 1995 and 2014. The Macroprudential Policies Evaluation Database … banks and supervisory authorities of all EU member states. This paper describes the design and structure of the new data set … and presents the first descriptive analysis of the use of policy measures with a macroprudential nature in the EU over the …

Persistent link: https://www.econbiz.de/10011779845

Global models for a global pandemic: the impact of COVID-19 on small euro area economies

García, Pablo; Jacquinot, Pascal; Lenarčič, Črt; … - 2022

Persistent link: https://www.econbiz.de/10013489549

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