Showing 1 - 10 of 252
This paper develops and estimates a dynamic stochastic general equilibrium (DSGE) model with sticky prices and wages for the euro area. The model incorporates various other features such as habit formation, costs of adjustment in capital accumulation and variable capacity utilisation. It is...
Persistent link: https://www.econbiz.de/10013137060
Using two estimated models for the euro area and the United States, this paper investigates whether the observed difference in the amplitude of the interest rate cycle since 1999 in both areas is due to differences in the estimated monetary policy reaction function, differences in the structure...
Persistent link: https://www.econbiz.de/10013137291
Persistent link: https://www.econbiz.de/10011708635
We provide evidence on the estimated effects of digital euro news on bank valuations and lending and find that they depend on deposit reliance and design features aimed at calibrating the quantity of CBDC. Then, we develop a quantitative DSGE model that replicates such evidence and incorporates...
Persistent link: https://www.econbiz.de/10013328782
Persistent link: https://www.econbiz.de/10011524328
In this paper we discuss a number of challenges for structural macroeconomic models in the light of the Great Recession and its aftermath. It shows that a benchmark DSGE model that shares many features with models currently used by central banks and large international institutions has...
Persistent link: https://www.econbiz.de/10011471463
In this paper we discuss a number of challenges for structural macroeconomic models in the light of the Great Recession and its aftermath. It shows that a benchmark DSGE model that shares many features with models currently used by central banks and large international institutions has...
Persistent link: https://www.econbiz.de/10012992072
Persistent link: https://www.econbiz.de/10012154387
Persistent link: https://www.econbiz.de/10012806336
Persistent link: https://www.econbiz.de/10014487404