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Credit and Banking in a DSGE Model of the Euro Area
Gerali, Andrea - 2010
This paper studies the role of credit-supply factors in business cycle fluctuations. For this purpose, we introduce an imperfectly competitive banking sector into a DSGE model with financial frictions. Banks issue collateralized loans to both households and firms, obtain funding via deposits and...
Persistent link: https://www.econbiz.de/10013143710
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Is forecasting with large models informative? : assessing the role of judgement in macroeconomic forecasts
Mestre, Ricardo; McAdam, Peter - 2008
We evaluate residual projection strategies in the context of a large-scale macro model of the euro area and smaller benchmark time-series models. The exercises attempt to measure the accuracy of model-based forecasts simulated both out-of-sample and in-sample. Both exercises incorporate...
Persistent link: https://www.econbiz.de/10003794046
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Is Forecasting with Large Models Informative? Assessing the Role of Judgement in Macroeconomic Forecasts
Mestre, Ricardo; McAdam, Peter - 2021
We evaluate residual projection strategies in the context of a large-scale macro model of the euro area and smaller benchmark time-series models. The exercises attempt to measure the accuracy of model-based forecasts simulated both out-of-sample and in-sample. Both exercises incorporate...
Persistent link: https://www.econbiz.de/10013316469
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Are Bank Credit Standards Affected by the Business Cycle? : Evidence From the Euro Area
Anastasiou, Dimitrios - 2020
The purpose of this study is to investigate the link between bank credit standards (CS hereafter) and business cycle fluctuations. This is the first empirical study which attempts to examine whether business cycle affects bank CS. We use quarterly survey-data on CS taken from the Bank Lending...
Persistent link: https://www.econbiz.de/10012850570
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Mind the Gap : What is the Best Measure of Slack in the Euro Area?
Ubide, Angel J. - 2021
into this search by providing two metrics-inflation forecasting and business cycle dating-against which different options …) inefficiency wedge performs best in inflation forecasting and production function methodology dominates in the prediction of …
Persistent link: https://www.econbiz.de/10013211944
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Interpreting euro area inflation at high and low frequencies
Assenmacher-Wesche, Katrin; Gerlach, Stefan - In: European economic review : EER 52 (2008) 6, pp. 964-986
Persistent link: https://www.econbiz.de/10003766314
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Interpreting euro area inflation at high and low frequencies
Assenmacher-Wesche, Katrin; Gerlach, Stefan - 2006
inflation at different time horizons or frequency bands. The ECB has publicly supported this understanding of the framework …. This paper presents further evidence on the behaviour of euro area inflation using band spectrum regressions, which allow … frequency domain. The main finding is that variations in inflation are well explained by low-frequency movements of money and …
Persistent link: https://www.econbiz.de/10003322914
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Interpreting Euro area inflation at high and low frequencies
Assenmacher-Wesche, Katrin; Gerlach, Stefan - 2006
Persistent link: https://www.econbiz.de/10003287202
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The Triffin dilemma again
Campanella, Edoardo - 2010
Tiny changes in the American monetary policy can have dramatic effects on the rest of the world because of dollar's double role of national and international currency. This is the Triffin dilemma. The paper shows how it works through three examples: price of commodities, dollarization, and the...
Persistent link: https://www.econbiz.de/10008648332
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Business cycle synchronization in Asia : the role of financial and trade linkages
Dai, Yuwen - 2014
understanding of and expand research on this topic. Given the importance of the People’s Republic of China, Japan, and the United …
Persistent link: https://www.econbiz.de/10011281409