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DSGE models and machine learning : an application to monetary policy in the euro area

Stempel, Daniel; Zahner, Johannes - 2022 - Draft: August 15, 2022

In the euro area, monetary policy is conducted by a single central bank for 19 member countries. However, countries are heterogeneous in their economic development, including their inflation rates. This paper combines a New Keynesian model and a neural network to assess whether the European...

Persistent link: https://www.econbiz.de/10013350856

Whose inflation rates matter most? : a DSGE model and machine learning approach to monetary policy in the Euro area

Stempel, Daniel; Zahner, Johannes - 2023 - This version: May 31, 2023

In the euro area, monetary policy is conducted by a single central bank for 20 member countries. However, countries are heterogeneous in their economic development, including their inflation rates. This paper combines a New Keynesian model and a neural network to assess whether the European...

Persistent link: https://www.econbiz.de/10014299409

Agent-based modeling of systemic risk in the European banking sector

Teply, Petr; Klinger, Tomas - In: Journal of economic interaction and coordination : JEIC 14 (2019) 4, pp. 811-833

Persistent link: https://www.econbiz.de/10012167831

Analyzing and forecasting economic crises with an agent-based model of the euro area

Hommes, Cars H.; Poledna, Sebastian - 2023

crises of the euro area: the Financial crisis of 2007-2008 and the subsequent Great Recession, the European sovereign debt … crisis, and the COVID-19 recession. We show that the model, due to non-linear responses, is capable of predicting a severe … crisis arising endogenously around the most intense phase of the Great Recession in the euro area without any exogenous …

Persistent link: https://www.econbiz.de/10014233385

Energy price shocks and stabilization policies in a multi-agent macroeconomic model for the Euro Area

Turco, Enrico; Bazzana, Davide; Rizzati, Massimiliano; … - 2022

Soaring energy prices since fall 2021 have prompted European governments to introduce policy measures to support households and businesses. In this paper, we employ the MATRIX model, a multi-sector and multi-agent macroeconomic model calibrated on the Euro Area, to analyze the economic and...

Persistent link: https://www.econbiz.de/10013383241