sensible theoretical treatment of the interaction between central bank policy and market structures a particularly complex …

The paper provides a systematic comparison of the Eurosystem, the US Federal Reserve and the Bank of Japan. These …

The paper provides a systematic comparison of the Eurosystem, the US Federal Reserve and the Bank of Japan. These …

-section of individual bank portfolio decisions. For this purpose, an augmented version of the DSGE model of Gertler and Karadi … (2013), featuring a segmented banking sector, is estimated for the euro area and combined with a bank portfolio optimisation … approach using granular bank level data. An important feature of our modelling approach is that it captures the heterogeneity …

both bank and country-level data. As outright bank failures have been rare in Europe, the paper introduces a novel dataset … are that complementing bank specific vulnerabilities with indicators for macro-financial imbalances and banking sector … vulnerabilities improves model performance and yields useful out-of-sample predictions of bank distress during the current financial …