Understanding asymmetric risks in macroeconomic variables is challenging. Most structural models used for policy analysis are linearised and therefore cannot generate asymmetries such as those documented in the empirical growth-at-risk (GaR) literature. This report examines how structural models...

I provide a solution method in the frequency domain for multivariate linear rational expectations models. The method works with the generalized Schur decomposition, providing a numerical implementation of the underlying analytic function solution methods suitable for standard DSGE estimation and...

The output gap, while inherently unobservable, plays a pivotal role in informing policymakers due to its significant implications for forecasting inflation rates and understanding the mechanisms of monetary policy transmission. Traditional filters frequently employed in estimating the output gap...

This paper documents the recent changes in the structure and estimation procedures of the SAMBA model, providing a complete description of the decision problems that each economic agent faces, the first order conditions that solve those problems, and the new techniques employed to estimate the...

We assess the impact of macroprudential measures on macroeconomic stability using a DSGE model in which firms can access both direct and indirect financing. The model is calibrated with data from the euro area. We compare two different macroprudential rules (time-invariant and counter-cyclical)...

This paper documents the extension of MEDSEA, a small open economy DSGE model for Malta, with a detailed energy sector. The model contains relatively rich fiscal and energy blocks allowing the model to simulate the transitional costs related to the economy's decarbonisation, together with the...

Using data for the Chilean mining sector, we provide SVAR evidence in order to answer the research question regarding what are the distributional consequences that commodity price shocks have in labour market outcomes for heterogeneous workers at business cycles frequencies in a Small Open...