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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

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

Is Forecasting with Large Models Informative? Assessing the Role of Judgement in Macroeconomic Forecasts

Mestre, Ricardo; McAdam, Peter - 2021

Persistent link: https://www.econbiz.de/10013316469

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

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

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 …