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The ECB's New Multi-Country Model for the Euro Area : NMCM - With Boundedly Rational Learning Expectations
Dieppe, Alistair - 2011
potential vast multitude of alternative mis-specified MSVs. Using a new Multi-country Euro area Model with Boundedly Estimated …
Persistent link: https://www.econbiz.de/10013128293
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Corporate Bond Spreads and Real Activity in the Euro Area - Least Angle Regression Forecasting and the Probability of the Recession
Buchmann, Marco - 2011
economic activity in the euro area. In- and out-of-sample predictive content of corporate bond spreads are examined along three …
Persistent link: https://www.econbiz.de/10013131847
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Trade with Central and Eastern Europe : Is it Really a Threat to Wages in the West?
Polgar, Eva Katalin - 2010
This paper analyses the relationship between openness to trade and wages at the industry level (15 manufacturing industries) in 25 EU countries over the period from 1995 to 2005. By applying a cross-country and industry-specific approach, it is possible to control for unobserved heterogeneity at...
Persistent link: https://www.econbiz.de/10013138239
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The Business Cycle Implications of Banks' Maturity Transformation
Andreasen, Martin M. - 2012
This paper develops a DSGE model where banks use short-term deposits to provide firms with long-term credit. The demand for long-term credit arises because firms borrow in order to finance their capital stock which they only adjust at infrequent intervals. Within an RBC framework, we show that...
Persistent link: https://www.econbiz.de/10013099027
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Fragmentation, Incomes and Jobs : An Analysis of European Competitiveness
Timmer, Marcel P. - 2013
Increasing fragmentation of production across borders is changing the nature of international competition. As a result, conventional indicators of competitiveness based on gross exports become less informative and new measures are needed. In this paper we propose an ex-post accounting framework...
Persistent link: https://www.econbiz.de/10013072991
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House Price Cycles in Europe
Corradin, Stefano - 2013
Euro area sovereign debt crisis …
Persistent link: https://www.econbiz.de/10013072994
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Predicting Distress in European Banks
Betz, Frank - 2013
The paper develops an early-warning model for predicting vulnerabilities leading to distress in European banks using both bank and country-level data. As outright bank failures have been rare in Europe, the paper introduces a novel dataset that complements bankruptcies and defaults with state...
Persistent link: https://www.econbiz.de/10013074637
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Below the Zero Lower Bound : A Shadow-Rate Term Structure Model for the Euro Area
Lemke, Wolfgang - 2017
We propose a shadow-rate term structure model for the euro area yield curve from 1999 to mid-2015, when bond yields had …
Persistent link: https://www.econbiz.de/10012963943
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A Stable Model for Euro Area Money Demand : Revisiting the Role of Wealth
Beyer, Andreas - 2009
In this paper we present an empirically stable money demand model for Euro area M3. We show that housing wealth is an …
Persistent link: https://www.econbiz.de/10013155103
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Endogenous TFP, Business Cycle Persistence and the Productivity Slowdown in the Euro Area
Spitzer, Martin - 2020
This paper analyses the endogeneity of euro area total factor productivity and its role in business cycle amplification … by estimating a medium-scale DSGE model with endogenous productivity mechanism on euro area data. In this framework …. We find that the endogeneity of TFP induces a high degree of persistence in the euro area business cycle via a feedback …
Persistent link: https://www.econbiz.de/10012834776