We investigate the predictive content of credit and government interest spreads with respect to the Italian GDP growth. Our analysis with Dynamic Model Averaging identifies when interest spreads were more useful predictors of economic activity: these periods are not limited to the Great...

The Paris Agreement requires policy makers to keep the increase in global average temperature well below 2êC above pre-industrial levels, while pursuing efforts to limit the increase to 1.5êC. Furthermore, it demands finance flows to be consistent with pathways towards low greenhouse gas...

Since the 1980s, economists argued that the spread between the long-and short-term interest rates is a good predictor of future economic activity. Developing Estrella (2006) study, I investigate the ability of the interest rate spread to predict USA and Germany recessions using a probit model....

The Paris Agreement requires policy makers to keep the increase in global average temperature well below 2°C above pre-industrial levels, while pursuing efforts to limit the increase to 1.5°C. Furthermore, it demands finance flows to be consistent with pathways towards low greenhouse gas...

Universite Catholique de Louvain Faculte des sciences economiques, sociales et politiques Departement des Sciences Economiques Essays on Formulating and Estimating DSGE Models V Giulio...

We build a model to simulate how the euro area market-based financial system may function under stress. The core of the model is a set of representative agents re ecting key economic sectors, which interact in asset, funding, and derivatives markets and face solvency and liquidity constraints on...

We study the impact of a liquidity shock affecting investment funds on the financing conditions of firms. The abrupt liquidity needs of investment funds, triggered by the outbreak of the Covid-19 pandemic, prompted a retrenchment from bond purchases of firms and a withdrawal of short term funds...