Using a unique dataset of the Euro area and the U.S. bank lending standards, we find that low (monetary policy) short …

unique Euro area bank lending surveys. Embedding this information within a standard VAR model, we find that: (1) the credit …) during the crisis, credit supply restrictions to firms in the Euro area and tighter standards for mortgage loans in the US …

The Euro area economic activity and banking sector have shown substantial fragility over the last years with remarkable … affected the transmission mechanism of the single Euro area monetary policy during the crisis until the end of 2011. The …

the 26 largest euro area banking groups. Banks with more customer deposits are negatively affected by negative rates, as …

In this paper, we outline a version of the New Area-Wide Model (NAWM) of the euro area designed for use in the (Broad …

We compare real-time density forecasts for the euro area using three DSGE models. The benchmark is the Smets …

sample covers the period following the introduction of the euro and the out-of-sample performance of the NAWM is compared to …

(2012) estimated on euro area data. It investigates to what extent forecasts of inflation, GDP growth and unemployment by …

crisis, and of the provision of central bank liquidity during the crisis. Exploiting the euro area institutional setting for …

This paper provides a detailed description of an extended version of the ECB’s New Area-Wide Model (NAWM) of the euro … lending rates and the gradual interest-rate pass-through in the transmission of monetary policy in the euro area, and (iii …