We augment a standard monetary DSGE model to include a banking sector and financial markets. We fit the model to Euro …

We study the impact of higher bank capital buffers, namely of the Other Systemically Important Institu- tions (O …

This paper studies the relationship between the business cycle and financial intermediation in the euro area. We …

The post-2008 period in the euro area was characterised by sharp dispersion in borrowing costs faced by firms, across … hampered the smooth transmission of accommodative monetary policy. Using bank level data from 2007 to 2015, we directly measure … bank in the same month for loans to small and large firms (the "Small Firm Financing Premium", SFFP). We assess the role …

The paper proposes a framework for assessing the impact of system-wide and bank-level capital buffers. The assessment … rests on a factor-augmented vector autoregression (FAVAR) model that relates individual bank adjustments to macroeconomic … dynamics. We estimate FAVAR models individually for eleven euro area economies and identify structural shocks, which allow us …

how the transmission depends on bank balance sheets, and how this changes once policy rates become negative. We review the …

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 reflects banks' heterogeneity by replicating the structure of their …

the introduction of negative deposit rates by the European Central Bank in June 2014 and a novel securities register for … the 26 largest euro area banking groups. Banks with more customer deposits are negatively affected by negative rates, as …

either assume that the effects of bank capital shocks are linear or ignore feedback effects and the impact on the … macroeconomy. Using data on the largest euro area countries and Bayesian Panel Threshold VARs, we investigate the importance of … are typically associated with low bank margins and profitability, also lead to a larger decline in lending. De-risking is …