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International transmission and monetary policy cooperation

Coenen, Günter; Lombardo, Giovanni; Smets, Frank; … - 2008

We use a version of the New Area-Wide Model (NAWM) developed at the ECB in order to quantify the gains from monetary policy cooperation. The model is calibrated in order to match a set of empirical moments. We then derive the cooperative and (open-loop) Nash monetary policies, assuming that the...

Persistent link: https://www.econbiz.de/10003636288

Fiscal policy and the "Great Recession" in the euro area

Coenen, Günter; Straub, Roland; Trabandt, Mathias - 2012

Persistent link: https://www.econbiz.de/10009765223

Banking euro area stress test model

Budnik, Katarzyna; Mozzanica, Mirco Balatti; Dimitrov, Ivan - 2020

The Banking Euro Area Stress Test (BEAST) is a large scale semi-structural model developed to assess the resilience of the euro area banking system from a macroprudential perspective. The model combines the dynamics of a high number of euro area banks with that of the euro area economies. It...

Persistent link: https://www.econbiz.de/10012286943

Communication of monetary policy in unconventional times

Coenen, Günter; Ehrmann, Michael; Gaballo, Gaetano; … - 2017

Monetary policy communication is particularly important during unconventional times, because high uncertainty about the economy, the introduction of new policy tools and possible limits to the central bank 's toolkit could hamper the predictability of policy actions. We study how monetary policy...

Persistent link: https://www.econbiz.de/10011663996

Capital and liquidity buffers and the resilience of the banking system in the euro area

Budnik, Katarzyna; Bochmann, Paul - 2017

How do capital and liquidity buffers affect the evolution of bank loans in periods of financial and economic distress? To answer this question we study the responses of 219 individual banks to aggregate demand, standard and unconventional monetary policy shocks in the euro area between 2007 and...

Persistent link: https://www.econbiz.de/10011771997

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