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Banking euro area stress test model
Budnik, Katarzyna; Mozzanica, Mirco Balatti; Dimitrov, Ivan - 2020
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...
Persistent link: https://www.econbiz.de/10012286943
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Macroprudential stress test of the euro area banking system
Budnik-Gałązka, Katarzyna; Mozzanica, Mirco Balatti; … - 2019
This paper presents an approach to a macroprudential stress test for the euro area banking system, comprising the 91 largest euro area credit institutions across 19 countries. The approach involves modelling banks'reactions to changing economic conditions. It also examines the effects of adverse...
Persistent link: https://www.econbiz.de/10012033284
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Business cycle synchronization : a regional perspective
Beck, Krzysztof - 2014
Turmoil in euro area once more forces EU authorities to rethink future of further monetary integration. One of the most commonly used criterions for successful monetary in contemporary research is business cycle synchronization (BCS). Though BCS has been vastly described at country level, not as...
Persistent link: https://www.econbiz.de/10012011034
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Re-evaluating Swedish membership in EMU : evidence from an estimated model
Söderström, Ulf - 2008
I revisit the potential costs and benefits for Sweden of joining the Economic and Monetary Union (EMU) of the European Union. I first show that the Swedish business cycle since the mid-1990s has been closely correlated with the Euro area economies, suggesting that common shocks have been an...
Persistent link: https://www.econbiz.de/10003793441
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Re-Evaluating Swedish Membership in EMU : Evidence from an Estimated Model
Söderström, Ulf - 2013
I revisit the potential costs and benefits for Sweden of joining the Economic and Monetary Union (EMU) of the European Union. I first show that the Swedish business cycle since the mid-1990s has been closely correlated with the Euro area economies, suggesting that common shocks have been an...
Persistent link: https://www.econbiz.de/10013095591
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Some Stylised Facts on the Euro Area Business Cycle
Agresti, Anna Maria; Mojon, Benoit - 2021
This paper presents stylised facts about the business cycle of the euro area. The results suggest that the stylised facts for the euro area economy and the US are very similar. The magnitude of the fluctuations in consumption, investment, prices, inflation, interest rate, monetary aggregates...
Persistent link: https://www.econbiz.de/10013320264
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Some Stylized Facts About the Euro Area Business Cycle
Mojon, Benoit; Agresti, Anna Maria - 2002
This paper presents stylised facts about the business cycle of the Euro area economy, using the US economy and national economies within the Euro area as benchmarks. The magnitude and the timing of the Euro area fluctuations in consumption, investment, prices, inflation, interest rate, monetary...
Persistent link: https://www.econbiz.de/10014119329
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Wage divergence, business cycle co-movement and the currency union effect
Gächter, Martin; Gruber, Alexander; Riedl, Aleksandra - In: Journal of common market studies : JCMS 55 (2017) 6, pp. 1322-1342
Persistent link: https://www.econbiz.de/10011763737
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Business Cycle Effects of Credit Shocks in a DSGE Model with Firm Defaults
Pesaran, M. Hashem - 2016
defaults and volatility. The key feature of the modelling approach is to allow for the possibility of default in equilibrium … default by some firms. The implications of firm defaults for the balance sheets of households and banks and their subsequent … calibrated version of the model suggests that, in the steady state, a firm's default probability rises with its leverage ratio …
Persistent link: https://www.econbiz.de/10012994637
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Common monetary policy with asymmetric shocks
Gros, Daniel; Hefeker, Carsten - 2002
What policy objective should a common central bank in a heterogeneous monetary union pursue? Should it base its decisions on the EU-wide average of inflation and growth or should it instead focus on (appropriately weighted) national welfare losses based on national rates of inflation and growth?...
Persistent link: https://www.econbiz.de/10001666080