Revenue elasticities play a key role in forecasting, monitoring and analysing public finances under the European fiscal …

better quality than PPP. The MB approach has the most appealing economic interpretation, but performs poorly in forecasting …

policy across euro area regions. By exploiting a novel regional dataset on housing-related variables, a structural panel VAR …

; (iv) newer generation Phillips curve models with several timevarying features are a promising avenue for forecasting …

, the panel estimation yields somewhat lower results (0.6 to 1.1 cents). The MPC out of nominal housing wealth lies between … effect of volatile house prices, we find similar effects in the times series estimation while the MPC is larger in the panel … the period 1980-2006, and one on the individual euro area countries from1995-2006, using panel data techniques. The impact …

policy and the challenges they pose in the process of real and nominal convergence in the Eurozone. Among the main results …

Equilibrium (DSGE) models in forecasting the Great Financial Crisis (GFC), focusing on the U.S. While existing models have added a … includes both the financial sector and endogenous housing supply and show that forecasting accuracy significantly improves when … highlight the necessity of combining model extension and housing supply data for accurate forecasting during economic crises. I …

We study state dependence in the impact of monetary policy shocks over the leverage cycle for a panel of 10 euro area … countries. We use a Bayesian Threshold Panel SVAR with regime classifications based on credit and house prices cycles. We find …