a well-suited macroeconomic model for analysing fiscal policy at a central bank is of primary importance. This paper … documents the fiscal block of the ECB-BASE, which is a semi-structural model for the euro area developed at the ECB for … links to the quarterly fiscal accounts. Thanks to this design, it is possible to simulate the model with a wide range of …

This paper presents the blueprint of a new ECB multi-country model. The version documented in the following pages is … model mechanisms, enlarge the suite of area wide tools, and provide a tool for a top down approach between euro area and … country modelling. The model converges to a well-defined steady state and its properties are in line with macroeconomic theory …

Simulations of a deficit-financed public investment programme in Germany amounting to €460 billion over ten years in … the macroeconomic model NiGEM show that it will finance itself in 30 years at most, even under conservative model … assumptions. In the basic version of the model, GDP is 3 % to 4 % above the baseline in the long run. Additionally, private …

this note a surprising finding is established. Assuming that the agents in a standard infinite horizon growth model hold …

this note a surprising finding is established. Assuming that the agents in a standard infinite horizon growth model hold …