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Paolo Gelain

Citations

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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Gelain, Paolo & Guerrazzi, Marco, 2014. "A demand-driven search model with self-fulfilling expectations: The new `Farmerian' framework under scrutiny," MPRA Paper 55773, University Library of Munich, Germany.

    Mentioned in:

    1. A demand-driven search model with self-fulfilling expectations: The new ‘Farmerian’ framework under scrutiny
      by Christian Zimmermann in NEP-DGE blog on 2014-05-16 23:26:09
    2. Animal Spirits: an Empirical Test
      by Roger Farmer in My Economic Window on 2014-05-20 04:08:00
  2. Gelain, Paolo & Lansing, Kevin J. & Mendicino, Caterina, 2012. "House Prices, Credit Growth, and Excess Volatility: Implications for Monetary and Macroprudential Policy," Dynare Working Papers 21, CEPREMAP.

    Mentioned in:

    1. House Prices, Credit Growth, and Excess Volatility: Implications for Monetary and Macroprudential Policy
      by Christian Zimmermann in NEP-DGE blog on 2013-01-14 10:51:55

Working papers

  1. Paolo Gelain & Marco Lorusso & Saeed Zaman, 2024. "Oil Price Fluctuations and US Banks," Working Papers 24-11, Federal Reserve Bank of Cleveland.

    Cited by:

    1. Gelain, Paolo & Lorusso, Marco, 2025. "Oil price fluctuations, US banks, and macroprudential policy," Journal of Monetary Economics, Elsevier, vol. 156(C).

  2. Paolo Gelain & Marco Lorusso, 2022. "Oil Price Fluctuations, US Banks, and Macroprudential Policy," Working Papers 22-33R, Federal Reserve Bank of Cleveland, revised 23 Oct 2024.

    Cited by:

    1. Gelain, Paolo & Lorusso, Marco, 2025. "Oil price fluctuations, US banks, and macroprudential policy," Journal of Monetary Economics, Elsevier, vol. 156(C).

  3. Foroni, Claudia & Gelain, Paolo & Marcellino, Massimiliano, 2022. "The financial accelerator mechanism: does frequency matter?," Working Paper Series 2637, European Central Bank.

    Cited by:

    1. Gelfer, Sacha & Gibbs, Christopher G., 2023. "Measuring the effects of large-scale asset purchases: The role of international financial markets and the financial accelerator," Journal of International Money and Finance, Elsevier, vol. 131(C).
    2. Khwazi Magubane, 2025. "Determinants of Financial Stability and Development in South Africa: Insights from a Quantile ARDL Model of the South African Financial Cycle," JRFM, MDPI, vol. 18(9), pages 1-34, September.
    3. Guido Ascari & Qazi Haque & Leandro Magnusson & Sophocles Mavroeidis, 2023. "Empirical evidence on the Euler equation for investment in the US," Working Papers 785, DNB.

  4. Francesco Furlanetto & Paolo Gelain & Marzie Taheri Sanjani, 2020. "Online Appendix to "Output Gap, Monetary Policy Trade-offs, and Financial Frictions"," Online Appendices 20-29, Review of Economic Dynamics.

    Cited by:

    1. Claudia Foroni & Paolo Gelain & Massimiliano Marcellino, 2022. "The financial accelerator mechanism: does frequency matter?," Working Papers 22-29, Federal Reserve Bank of Cleveland.
    2. Berger, Tino & Richter, Julia & Wong, Benjamin, 2022. "A unified approach for jointly estimating the business and financial cycle, and the role of financial factors," Journal of Economic Dynamics and Control, Elsevier, vol. 136(C).
    3. Francesco Furlanetto & Kåre Hagelund & Frank Hansen & Ørjan Robstad, 2020. "Norges Bank Output Gap Estimates: Forecasting Properties, Reliability and Cyclical Sensitivity," Working Paper 2020/7, Norges Bank.

  5. Gelain, Paolo & Manganelli, Simone, 2020. "Monetary policy with judgment," Working Paper Series 2404, European Central Bank.

    Cited by:

    1. Zanetti Chini, Emilio, 2025. "Judgment can spur long memory," Journal of Economic Dynamics and Control, Elsevier, vol. 170(C).
    2. Manganelli, Simone, 2021. "Statistical decision functions with judgment," Working Paper Series 2512, European Central Bank.

  6. Kristina Bluwstein & Michał Brzoza-Brzezina & Paolo Gelain & Marcin Kolasa, 2018. "Multi-period loans, occasionally binding constraints and Monetary policy: a quantitative evaluation," Bank of England working papers 749, Bank of England.

    Cited by:

    1. Pietrunti, Mario & Signoretti, Federico M., 2020. "Unconventional monetary policy and household debt: The role of cash-flow effects," Journal of Macroeconomics, Elsevier, vol. 64(C).
    2. Elisa Guglielminetti & Michele Loberto, 2025. "Inflation expectations and price-setting decisions: insights from the housing market," Temi di discussione (Economic working papers) 1507, Bank of Italy, Economic Research and International Relations Area.
    3. Gulan, Adam & Jokivuolle, Esa & Verona, Fabio, 2022. "Optimal bank capital requirements: What do the macroeconomic models say?," BoF Economics Review 2/2022, Bank of Finland.
    4. Marcin Kolasa, 2022. "Equilibrium foreign currency mortgages," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 45, pages 168-186, July.
    5. Marc Hinterschweiger & Kunal Khairnar & Tolga Ozden & Tom Stratton, 2021. "Macroprudential policy interactions in a sectoral DSGE model with staggered interest rates," Bank of England working papers 904, Bank of England.
    6. Hohberger, Stefan & Priftis, Romanos & Vogel, Lukas, 2019. "The macroeconomic effects of quantitative easing in the euro area: Evidence from an estimated DSGE model," Journal of Economic Dynamics and Control, Elsevier, vol. 108(C).
    7. Ekaterina Pirozhkova & Nicola Viegi, 2024. "The bank lending channel of monetary policy transmission in South Africa," Working Papers 11072, South African Reserve Bank.
    8. Kolasa Marcin, 2021. "On the Limits of Macroprudential Policy," The B.E. Journal of Macroeconomics, De Gruyter, vol. 21(1), pages 281-307, January.
    9. Richard Harrison & Matt Waldron, 2021. "Optimal policy with occasionally binding constraints: piecewise linear solution methods," Bank of England working papers 911, Bank of England.
    10. Andrea Camilli & Marta Giagheddu, 2020. "Public debt and crowding-out: the role of housing wealth," Working Papers 441, University of Milano-Bicocca, Department of Economics, revised Oct 2020.
    11. Darracq Pariès, Matthieu & Kok, Christoffer & Rottner, Matthias, 2023. "Reversal interest rate and macroprudential policy," European Economic Review, Elsevier, vol. 159(C).
    12. Chadha, Jagjit S. & Corrado, Germana & Corrado, Luisa & De Lorenzo Buratta, Ivan, 2026. "The role of macroprudential policy in times of trouble," European Economic Review, Elsevier, vol. 181(C).
    13. Apergis, Nicholas, 2021. "The role of housing market in the effectiveness of monetary policy over the Covid-19 era," Economics Letters, Elsevier, vol. 200(C).
    14. Chan, Ying Tung & Ji, Qiang & Zhang, Dayong, 2025. "The Macroeconomics of Strategic Petroleum Reserve," International Review of Economics & Finance, Elsevier, vol. 99(C).
    15. Michał Brzoza-Brzezina & Jacek Suda, 2021. "Are DSGE models irreparably flawed?," Bank i Kredyt, Narodowy Bank Polski, vol. 52(3), pages 227-252.

  7. Francesco Furlanetto & Paolo Gelain & Marzie Taheri Sanjani, 2017. "Output gap, monetary policy trade-offs and financial frictions," Working Paper 2017/8, Norges Bank.

    Cited by:

    1. Paolo Gelain & Simone Manganelli, 2020. "Monetary Policy with Judgment," Working Papers 20-14, Federal Reserve Bank of Cleveland.
    2. Berger, Tino & Richter, Julia & Wong, Benjamin, 2021. "A unified approach for jointly estimating the business and financial cycle, and the role of financial factors," University of Göttingen Working Papers in Economics 415, University of Goettingen, Department of Economics.
    3. Claudia Foroni & Paolo Gelain & Massimiliano Marcellino, 2022. "The financial accelerator mechanism: does frequency matter?," Working Papers 22-29, Federal Reserve Bank of Cleveland.
    4. Lorenzo Burlon & Paolo D'Imperio, 2019. "The euro-area output gap through the lens of a DSGE model," Questioni di Economia e Finanza (Occasional Papers) 477, Bank of Italy, Economic Research and International Relations Area.
    5. Francesco Furlanetto & Kåre Hagelund & Frank Hansen & Ørjan Robstad, 2020. "Norges Bank Output Gap Estimates: Forecasting Properties, Reliability and Cyclical Sensitivity," Working Paper 2020/7, Norges Bank.
    6. Burlon, Lorenzo & D’Imperio, Paolo, 2020. "Reliable real-time estimates of the euro-area output gap," Journal of Macroeconomics, Elsevier, vol. 64(C).

  8. Paolo Gelain & Kevin J. Lansing & Gisle J. Natvik, 2015. "Leaning Against the Credit Cycle," Working Paper 2015/04, Norges Bank.

    Cited by:

    1. Agénor, Pierre-Richard & Flamini, Alessandro, 2022. "Institutional mandates for macroeconomic and financial stability," Journal of Financial Stability, Elsevier, vol. 62(C).
    2. Ørjan Robstad, 2014. "House prices, credit and the effect of monetary policy in Norway: Evidence from Structural VAR Models," Working Paper 2014/05, Norges Bank.
    3. Angela Abbate & Sandra Eickmeier & Esteban Prieto, 2020. "Financial shocks and inflation dynamics," Working Papers 2020-13, Swiss National Bank.
    4. Andreas Fagereng & Magnus A. H. Gulbrandsen & Martin Holm & Gisle Natvik, 2023. "How Does Monetary Policy Affect Household Indebtedness?," Working Papers 05/2023, Centre for Household Finance and Macroeconomic Research (HOFIMAR), BI Norwegian Business School.
    5. Yasin Mimir, 2023. "Leaning against persistent financial cycles with occasional crises," Working Papers 56, European Stability Mechanism.
    6. Svensson, Lars E.O., 2017. "How Robust Is the Result That the Cost of "Leaning Against the Wind" Exceeds the Benefit? Response to Adrian and Liang," CEPR Discussion Papers 11744, Centre for Economic Policy Research.
    7. Jesper Pedersen, 2019. "What Are the Effects of Changes in Taxation and New Types of Mortgages on the Real Economy? The Case of Denmark during the 2000s," International Journal of Central Banking, International Journal of Central Banking, vol. 15(5), pages 47-99, December.
    8. Piotr Krajewski & Agata Szymanska, 2019. "The effectiveness of fiscal policy within business cycle-Ricardians vs. non-Ricardians approach," Baltic Journal of Economics, Baltic International Centre for Economic Policy Studies, vol. 19(2), pages 195-215.
    9. Drehmann, Mathias & Juselius, Mikael & Korinek, Anton, 2023. "Long-term debt propagation and real reversals," Bank of Finland Research Discussion Papers 5/2023, Bank of Finland.
    10. Lars E.O. Svensson, 2016. "Cost-Benefit Analysis of Leaning Against the Wind," NBER Working Papers 21902, National Bureau of Economic Research, Inc.
    11. Trent Saunders & Peter Tulip, 2019. "Cost-benefit Analysis of Leaning against the Wind," RBA Research Discussion Papers rdp2019-05, Reserve Bank of Australia.
    12. Ragna Alstadheim & Ørjan Robstad & Nikka Husom Vonen, 2017. "Financial imbalances, crisis probability and monetary policy in Norway," Working Paper 2017/21, Norges Bank.
    13. Svensson, Lars E. O., 2017. "How robust is the result that the cost of "leaning against the wind" exceeds the benefit?," Working Paper Series 2031, European Central Bank.
    14. Uwe Vollmer, 2022. "Monetary policy or macroprudential policies: What can tame the cycles?," Journal of Economic Surveys, Wiley Blackwell, vol. 36(5), pages 1510-1538, December.
    15. Yoo, Jinhyuk, 2017. "Capital injection to banks versus debt relief to households," IMFS Working Paper Series 111, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    16. Gregory Bauer & Eleonora Granziera, 2016. "Monetary Policy, Private Debt and Financial Stability Risks," Staff Working Papers 16-59, Bank of Canada.
    17. Kockerols, Thore & Kok, Christoffer, 2019. "Leaning against the wind: macroprudential policy and the financial cycle," Working Paper Series 2223, European Central Bank.
    18. Bechlioulis, Alexandros P. & Brissimis, Sophocles N., 2019. "Consumer debt non-payment and the borrowing constraint: Implications for consumer behavior," Journal of Banking & Finance, Elsevier, vol. 101(C), pages 161-172.
    19. Paolo Gelain & Kevin J. Lansing & Gisele J. Natvik, 2015. "Explaining the Boom-Bust Cycle in the U.S. Housing Market: A Reverse-Engineering Approach," Working Paper Series 2015-2, Federal Reserve Bank of San Francisco.
    20. Mathias Drehmann & Mikael Juselius & Anton Korinek, 2017. "Accounting for debt service: the painful legacy of credit booms," BIS Working Papers 645, Bank for International Settlements.
    21. Svensson, Lars E.O., 2017. "Leaning Against the Wind: Costs and Benefits, Effects on Debt, Leaning in DSGE Models, and a Framework for Comparison of Result," CEPR Discussion Papers 12226, Centre for Economic Policy Research.
    22. Grégory Levieuge, 2018. "La politique monétaire doit-elle être utilisée à des fins de stabilité financière ?," Revue française d'économie, Presses de Sciences-Po, vol. 0(3), pages 63-104.
    23. Mathias Drehmann & Mikael Juselius & Anton Korinek, 2018. "Going With the Flows: New Borrowing, Debt Service and the Transmission of Credit Booms," NBER Working Papers 24549, National Bureau of Economic Research, Inc.
    24. Ermanno Catullo & Federico Giri & Mauro Gallegati, 2019. "Macro and Micro Prudential Policies: Sweet and Lowdown in a Credit Network Agent Based Model," Working Papers 434, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    25. Alpanda, Sami & Zubairy, Sarah, 2017. "Addressing household indebtedness: Monetary, fiscal or macroprudential policy?," European Economic Review, Elsevier, vol. 92(C), pages 47-73.
    26. Nückles, Marc, 2020. "Interest rate policy and interbank market breakdown," Economic Modelling, Elsevier, vol. 91(C), pages 779-789.
    27. Silvo, Aino & Verona, Fabio, 2020. "The Aino 3.0 model," Bank of Finland Research Discussion Papers 9/2020, Bank of Finland.
    28. Ørjan Robstad, 2018. "House prices, credit and the effect of monetary policy in Norway: evidence from structural VAR models," Empirical Economics, Springer, vol. 54(2), pages 461-483, March.
    29. Mr. Lars E. O. Svensson, 2016. "Cost-Benefit Analysis of Leaning Against the Wind: Are Costs Larger Also with Less Effective Macroprudential Policy?," IMF Working Papers 2016/003, International Monetary Fund.
    30. Xu Tian, 2022. "Uncertainty and the Shadow Banking Crisis: Estimates from a Dynamic Model," Management Science, INFORMS, vol. 68(2), pages 1469-1496, February.
    31. Sami Alpanda & Alexander Ueberfeldt, 2016. "Should Monetary Policy Lean Against Housing Market Booms?," Staff Working Papers 16-19, Bank of Canada.
    32. Mølbak Ingholt, Marcus, 2022. "Multiple Credit Constraints and Time-Varying Macroeconomic Dynamics," Journal of Economic Dynamics and Control, Elsevier, vol. 143(C).
    33. Indrani Manna, 2018. "Can We Still Lean Against the Wind?," Open Economies Review, Springer, vol. 29(2), pages 223-259, April.
    34. Cairó, Isabel & Sim, Jae, 2023. "Monetary policy and financial stability," Journal of Economic Dynamics and Control, Elsevier, vol. 157(C).
    35. Sami Alpanda & Gino Cateau & Césaire Meh, 2018. "A policy model to analyze macroprudential regulations and monetary policy," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 51(3), pages 828-863, August.
    36. Cabral, Inês & Detken, Carsten & Fell, John & Henry, Jérôme & Hiebert, Paul & Kapadia, Sujit & Pires, Fatima & Salleo, Carmelo & Constâncio, Vítor & Nicoletti Altimari, Sergio, 2019. "Macroprudential policy at the ECB: Institutional framework, strategy, analytical tools and policies," Occasional Paper Series 227, European Central Bank.
    37. Jiaqian Chen & Daria Finocchiaro & Jesper Linde & Karl Walentin, 2023. "The costs of macroprudential deleveraging in a liquidity trap"," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 991-1011, December.

  9. Paolo Gelain & Kevin J. Lansing & Gisle J. Natvik, 2015. "Explaining the Boom-Bust Cycle in the U.S. Housing Market: A Reverse-Engineering Approach," Working Paper 2015/11, Norges Bank.

    Cited by:

    1. Hull, Isaiah, 2015. "What Broke First? Characterizing Sources of Structural Change Prior to the Great Recession," Working Paper Series 301, Sveriges Riksbank (Central Bank of Sweden).
    2. Tang, Yang & Zeng, Ting & Zhu, Shenghao, 2020. "Bubbles and house price dispersion in the United States during 1975–2017," Journal of Macroeconomics, Elsevier, vol. 63(C).
    3. Anja Janischewski & Michael Heinrich Baumann, 2025. "What are Asset Price Bubbles? A Survey on Definitions of Financial Bubbles," Chemnitz Economic Papers 065, Department of Economics, Chemnitz University of Technology.
    4. Paolo Gelain & Kevin J. Lansing & Gisele J. Natvik, 2017. "Leaning Against the Credit Cycle," Working Paper Series 2017-18, Federal Reserve Bank of San Francisco.
    5. Nelson Lind, 2017. "Credit Regimes and the Seeds of Crisis," 2017 Meeting Papers 1474, Society for Economic Dynamics.
    6. Chi-Young Choi & Soojin Jo, 2020. "How Do Housing Markets Affect Local Consumer Prices? – Evidence from U.S. Cities," Globalization Institute Working Papers 398, Federal Reserve Bank of Dallas.
    7. Jørgensen, Peter Lihn, 2023. "The global savings glut and the housing boom," Journal of Economic Dynamics and Control, Elsevier, vol. 146(C).
    8. Miroslav Gabrovski & Victor Ortego-Marti, 2020. "Search and Credit Frictions in the Housing Market," Working Papers 202016, University of California at Riverside, Department of Economics.
    9. Bechlioulis, Alexandros P. & Brissimis, Sophocles N., 2019. "Consumer debt non-payment and the borrowing constraint: Implications for consumer behavior," Journal of Banking & Finance, Elsevier, vol. 101(C), pages 161-172.
    10. Bank for International Settlements, 2021. "Assessing the impact of Basel III: Evidence from macroeconomic models: literature review and simulations," BCBS Working Papers 38, Bank for International Settlements.
    11. Kevin J. Lansing, 2019. "Endogenous Forecast Switching Near the Zero Lower Bound," Working Paper Series 2017-24, Federal Reserve Bank of San Francisco.
    12. Lansing, Kevin J., 2024. "Replicating business cycles and asset returns with sentiment and low risk aversion," Journal of Economic Dynamics and Control, Elsevier, vol. 167(C).
    13. Olivier Mesly & David W. Shanafelt & Nicolas Huck, 2020. "Dysfunctional markets: A spray of prey perspective," Working Papers of BETA 2020-34, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    14. Miroslav Gabrovski & Victor Ortego-Marti, 2025. "Home Construction Financing and Search Frictions in the Housing Market," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 55, January.
    15. William Gatt, 2022. "MEDSEA-FIN: an estimated DSGE model with housing and financial frictions for Malta," CBM Working Papers WP/05/2022, Central Bank of Malta.
    16. Granziera, Eleonora & Kozicki, Sharon, 2015. "House price dynamics: Fundamentals and expectations," Journal of Economic Dynamics and Control, Elsevier, vol. 60(C), pages 152-165.
    17. Dominik Hecker & Maik Wolters & Maik H. Wolters, 2025. "Nonlinear Estimation of a New Keynesian Model with Endogenous Inflation De-Anchoring," CESifo Working Paper Series 12280, CESifo.
    18. Charles Ka Yui LEUNG, 2022. "Housing and Macroeconomics," ISER Discussion Paper 1197, Institute of Social and Economic Research, The University of Osaka.
    19. Miroslav Gabrovski & Victor Ortego-Marti, 2021. "Efficiency in the Housing Market with Search Frictions," Working Papers 202108, University of California at Riverside, Department of Economics.

  10. Gelain, Paolo & Guerrazzi, Marco, 2014. "A demand-driven search model with self-fulfilling expectations: The new `Farmerian' framework under scrutiny," MPRA Paper 55773, University Library of Munich, Germany.

    Cited by:

    1. Guerrazzi, Marco, 2022. "The Keynesian nexus between the market for goods and the labour market," MPRA Paper 115428, University Library of Munich, Germany.
    2. Guerrazzi, Marco, 2015. "Animal spirits, investment and unemployment: An old Keynesian view of the Great Recession," MPRA Paper 64540, University Library of Munich, Germany.
    3. Andrea Čížků, 2020. "Nezaměstnanost a volná pracovní místa [Unemployment and Job Creation]," Politická ekonomie, Prague University of Economics and Business, vol. 2020(6), pages 607-629.

  11. Francesco Furlanetto & Paolo Gelain & Marzie Taheri Sanjani, 2014. "Output Gap in Presence of Financial Frictions and Monetary Policy Trade-offs," IMF Working Papers 2014/128, International Monetary Fund.

    Cited by:

    1. Umeokwobi Richard & Ocheni Victor, 2023. "Nexus of Cryptocurrency and Output gap in Nigeria: A Decision Tree Regression in Machine Learning using Python Programming Language," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(10), pages 2414-2421, October.
    2. Giovanni Dell'Ariccia & Karl Habermeier & Vikram Haksar & Tommaso Mancini-Griffoli, 2017. "Monetary Policy and Financial Stability," RBA Annual Conference Volume (Discontinued), in: Jonathan Hambur & John Simon (ed.),Monetary Policy and Financial Stability in a World of Low Interest Rates, Reserve Bank of Australia.
    3. Mr. Helge Berger & Mr. Thomas Dowling & Mr. Sergi Lanau & Mr. Mico Mrkaic & Mr. Pau Rabanal & Marzie Taheri Sanjani, 2015. "Steady as She Goes—Estimating Potential Output During Financial “Booms and Busts”," IMF Working Papers 2015/233, International Monetary Fund.
    4. Georgiadis, Georgios & Jančoková, Martina, 2017. "Financial globalisation, monetary policy spillovers and macro-modelling: tales from 1001 shocks," Working Paper Series 2082, European Central Bank.
    5. Ernst, Ekkehard & Semmler, Willi & Haider, Alexander, 2016. "Debt deflation, financial market stress and regime change: Evidence from Europe using MRVAR," ZEW Discussion Papers 16-030, ZEW - Leibniz Centre for European Economic Research.
    6. Krustev, Georgi, 2019. "The natural rate of interest and the financial cycle," Journal of Economic Behavior & Organization, Elsevier, vol. 162(C), pages 193-210.
    7. Pau Rabanal & Marzie Sanjani, 2015. "Incorporating Financial Cycles in Output Gap Measures: Estimates for the Euro Area," 2015 Meeting Papers 426, Society for Economic Dynamics.
    8. Mr. Pau Rabanal & Marzie Taheri Sanjani, 2015. "Financial Factors: Implications for Output Gaps," IMF Working Papers 2015/153, International Monetary Fund.

  12. Michal Brzoza-Brzezina & Paolo Gelain & Marcin Kolasa, 2014. "Monetary and macroprudential policy with multi-period loans," Working Paper 2014/16, Norges Bank.

    Cited by:

    1. Guerrieri, V. & Uhlig, H., 2016. "Housing and Credit Markets," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1427-1496, Elsevier.
    2. Marcin Kolasa, 2016. "Equilibrium foreign currency mortgages," KAE Working Papers 2016-021, Warsaw School of Economics, Collegium of Economic Analysis.
    3. Punnoose Jacob & Anella Munro, 2016. "A macroprudential stable funding requirement and monetary policy in a small open economy," Reserve Bank of New Zealand Discussion Paper Series DP2016/04, Reserve Bank of New Zealand.
    4. Jesper Pedersen, 2019. "What Are the Effects of Changes in Taxation and New Types of Mortgages on the Real Economy? The Case of Denmark during the 2000s," International Journal of Central Banking, International Journal of Central Banking, vol. 15(5), pages 47-99, December.
    5. Paolo Gelain & Kevin J. Lansing, 2013. "House prices, expectations, and time-varying fundamentals," Working Paper 2013/05, Norges Bank.
    6. Margarita Rubio, 2015. "Monetary and Macroprudential Policies under Fixed and Variable Interest Rates," Discussion Papers 2015/10, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
    7. Rabitsch, Katrin & Punzi, Maria Teresa, 2017. "Borrower heterogeneity within a risky mortgage-lending market," Department of Economics Working Paper Series 241, WU Vienna University of Economics and Business.
    8. Ibrahima Sangaré, 2019. "Housing sector and optimal macroprudential policy in an estimated DSGE model for Luxembourg," BCL working papers 129, Central Bank of Luxembourg.
    9. Gerba, Eddie & Żochowski, Dawid, 2017. "Knightian uncertainty and credit cycles," Working Paper Series 2068, European Central Bank.
    10. Mario Pietrunti & Federico M. Signoretti, 2017. "Monetary policy in times of debt," Temi di discussione (Economic working papers) 1142, Bank of Italy, Economic Research and International Relations Area.
    11. Marcin Bielecki & Michał Brzoza-Brzezina & Marcin Kolasa & Krzysztof Makarski, 2017. "Could the boom-bust in the eurozone periphery have been prevented?," GRAPE Working Papers 17, GRAPE Group for Research in Applied Economics.
    12. Gabriel Bruneau & Ian Christensen & Césaire Meh, 2016. "Housing Market Dynamics and Macroprudential Policy," Staff Working Papers 16-31, Bank of Canada.
    13. Jasper de Jong & Emmanuel De Veirman, 2019. "Heterogeneity and Asymmetric Macroeconomic Effects of Changes in Loan-to-Value Limits," Working Papers 635, DNB.
    14. Guangling Liu & Fernando Garcia-Barragan, 2017. "Capital Controls and Foreign Currency Denomination," 2017 Meeting Papers 415, Society for Economic Dynamics.
    15. Jacob, Punnoose & Munro, Anella, 2018. "A prudential stable funding requirement and monetary policy in a small open economy," Journal of Banking & Finance, Elsevier, vol. 94(C), pages 89-106.
    16. Michal Brzoza-Brzezina, 2014. "Financial Frictions and Macroprudential Policy," International Journal of Central Banking, International Journal of Central Banking, vol. 10(2), pages 249-261, June.
    17. Aquino, Juan Carlos, 2018. "The Valuation Channel of External Adjustment in Small Open Economies," Working Papers 2018-011, Banco Central de Reserva del Perú.
    18. Gabriel Bruneau & Ian Christensen & Césaire Meh, 2018. "Housing market dynamics and macroprudential policies," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 51(3), pages 864-900, August.
    19. Mikael Juselius & Mathias Drehmann, 2015. "Leverage dynamics and the real burden of debt," BIS Working Papers 501, Bank for International Settlements.
    20. Rubio, Margarita, 2016. "Short and long-term interest rates and the effectiveness of monetary and macroprudential policies," Journal of Macroeconomics, Elsevier, vol. 47(PA), pages 103-115.
    21. Greenwood-Nimmo, Matthew & Tarassow, Artur, 2016. "Monetary shocks, macroprudential shocks and financial stability," Economic Modelling, Elsevier, vol. 56(C), pages 11-24.
    22. Akaki Tsomaia, 2021. "Asset bubbles, financial sector, and current challenges to regulatory framework," International Economics and Economic Policy, Springer, vol. 18(4), pages 901-925, October.
    23. Marcin Kolasa, 2016. "On the limits of macroprudential policy," KAE Working Papers 2016-002, Warsaw School of Economics, Collegium of Economic Analysis.

  13. Paolo Gelain & Pelin Ilbas, 2014. "Monetary and macroprudential policies in an estimated model with financial intermediation," Working Paper Research 258, National Bank of Belgium.

    Cited by:

    1. Agénor, Pierre-Richard & Flamini, Alessandro, 2022. "Institutional mandates for macroeconomic and financial stability," Journal of Financial Stability, Elsevier, vol. 62(C).
    2. Stelios D. Bekiros & Roberta Cardani & Alessia Paccagnini & Stefania Villa, 2016. "Dealing with Financial Instability under a DSGE modeling approach with Banking Intermediation: a predictability analysis versus TVP-VARs," Open Access publications 10197/7323, School of Economics, University College Dublin.
    3. Kilponen, Juha & Orjasniemi, Seppo & Ripatti, Antti & Verona, Fabio, 2016. "The Aino 2.0 model," Bank of Finland Research Discussion Papers 16/2016, Bank of Finland.
    4. Gebauer, Stefan & Mazelis, Falk, 2018. "The Role of Shadow Banking for Financial Regulation," VfS Annual Conference 2018 (Freiburg, Breisgau): Digital Economy 181581, Verein für Socialpolitik / German Economic Association.
    5. Shekhar Aiyar & Charles Calomiris & Tomasz Wieladek, 2014. "How does credit supply respond to monetary policy and bank minimum capital requirements?," Bank of England working papers 508, Bank of England.
    6. Burlon, L. & Gerali, A. & Notarpietro, A. & Pisani, M., 2018. "Non-standard monetary policy, asset prices and macroprudential policy in a monetary union," Journal of International Money and Finance, Elsevier, vol. 88(C), pages 25-53.
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    22. Soyoung Kim & Aaron Mehrotra, 2016. "Maintaining price and financial stability by monetary and macroprudential policy - evidence from Asia and the Pacific," BIS Papers chapters, in: Bank for International Settlements (ed.), Expanding the boundaries of monetary policy in Asia and the Pacific, volume 88, pages 17-28, Bank for International Settlements.
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    30. Vasco J. Gabriel & Ioannis Lazopoulos & Diana Lima, 2023. "Institutional Arrangements and Inflation Bias: A Dynamic Heterogeneous Panel Approach," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(1), pages 43-76, February.
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    32. Luca Agnello & Vitor Castro & Ricardo M. Sousa, 2020. "The Housing Cycle: What Role for Mortgage Market Development and Housing Finance?," The Journal of Real Estate Finance and Economics, Springer, vol. 61(4), pages 607-670, November.
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    34. Eric M. Leeper & Bing Li, 2016. "Surplus-Debt Regressions," NBER Working Papers 22662, National Bureau of Economic Research, Inc.
    35. Samuel Kwesi Dunyo & Saran Sarntisart, 2024. "The impact of COVID‐19 pandemic on the Thai economy and the effectiveness of monetary policy: A Bayesian DSGE model approach," Asian Economic Journal, East Asian Economic Association, vol. 38(1), pages 3-34, March.
    36. Guangling Liu & Thabang Molise, "undated". "The optimal monetary and macroprudential policies for the South African economy," ERSA Working Paper Series v::y:2020:i::id:121, Economic Research Southern Africa.
    37. Gerba, Eddie & Macchiarelli, Corrado, 2016. "Interaction between monetary policy and bank regulation: theory and European practice," LSE Research Online Documents on Economics 68344, London School of Economics and Political Science, LSE Library.
    38. Stefan Gebauer, 2021. "Welfare-Based Optimal Macroprudential Policy with Shadow Banks," Working papers 817, Banque de France.
    39. Pierre-Richard Agénor & Luiz Awazu Pereira da Silva, 2018. "Financial spillovers, spillbacks, and the scope for international macroprudential policy coordination," BIS Papers, Bank for International Settlements, number 97.
    40. Kim, Soyoung & Mehrotra, Aaron, 2017. "Managing price and financial stability objectives in inflation targeting economies in Asia and the Pacific," Journal of Financial Stability, Elsevier, vol. 29(C), pages 106-116.
    41. Lazopoulos, Ioannis & Gabriel, Vasco, 2019. "Policy mandates and institutional architecture," Journal of Banking & Finance, Elsevier, vol. 100(C), pages 122-134.
    42. Yang Zhou & Shigeto Kitano, 2025. "Capital Controls or Macroprudential Policies: Which is Better for Land Booms and Busts?," Open Economies Review, Springer, vol. 36(3), pages 835-871, July.
    43. de Blas, Beatriz & Malmierca, María, 2020. "Financial frictions and stabilization policies," Economic Modelling, Elsevier, vol. 89(C), pages 166-188.
    44. Jacob, Punnoose & Munro, Anella, 2018. "A prudential stable funding requirement and monetary policy in a small open economy," Journal of Banking & Finance, Elsevier, vol. 94(C), pages 89-106.
    45. Lewis, Vivien & Roth, Markus, 2018. "Interest rate rules under financial dominance," Journal of Economic Dynamics and Control, Elsevier, vol. 95(C), pages 70-88.
    46. Darracq Pariès, Matthieu & Kok, Christoffer & Rottner, Matthias, 2023. "Reversal interest rate and macroprudential policy," European Economic Review, Elsevier, vol. 159(C).
    47. William Gatt, 2024. "Loan‐to‐value limits as a macroprudential policy tool: Developments in theory and practice," Journal of Economic Surveys, Wiley Blackwell, vol. 38(1), pages 232-267, February.
    48. Eric Jondeau & Jean-Guillaume Sahuc, 2018. "A General Equilibrium Appraisal of Capital Shortfall," Working papers 668, Banque de France.
    49. Verónica Acurio Vásconez & Olivier Damette & David W. Shanafelt, 2021. "Macroepidemics and unconventional monetary policy: Coupling macroeconomics and epidemiology in a financial DSGE-SIR framework," Working Papers of BETA 2021-04, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    50. Jondeau, Eric & Sahuc, Jean-Guillaume, 2022. "Bank capital shortfall in the euro area," Journal of Financial Stability, Elsevier, vol. 62(C).
    51. Stephen Millard, & Margarita Rubio & Alexandra Varadi, 2020. "The impact of Covid-19 on productivity," Discussion Papers 2020/14, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
    52. Soyoung Kim & Aaron Mehrotra, 2015. "Managing price and financial stability objectives - what can we learn from the Asia-Pacific region?," BIS Working Papers 533, Bank for International Settlements.
    53. Agénor, Pierre-Richard & Jackson, Timothy P., 2022. "Monetary and macroprudential policy coordination with biased preferences," Journal of Economic Dynamics and Control, Elsevier, vol. 144(C).
    54. Elien Meuleman & Rudi Vander Vennet, 2020. "Macroprudential policy, monetary policy and Eurozone bank risk," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 20/1004, Ghent University, Faculty of Economics and Business Administration.
    55. Gebauer, Stefan & Mazelis, Falk, 2023. "Macroprudential regulation and leakage to the shadow banking sector," European Economic Review, Elsevier, vol. 154(C).
    56. Górajski, Mariusz & Kuchta, Zbigniew, 2024. "Are two financial frictions necessary to match U.S. business and financial cycles?," Finance Research Letters, Elsevier, vol. 59(C).
    57. Herrera Luis & Vázquez Jesús, 2023. "Interpreting Structural Shocks and Assessing Their Historical Importance," The B.E. Journal of Macroeconomics, De Gruyter, vol. 23(1), pages 375-425, January.
    58. Federico Bassi & Andrea Boitani, 2021. "Monetary and macroprudential policy: The multiplier effects of cooperation," DISCE - Working Papers del Dipartimento di Economia e Finanza def110, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    59. Alvaro Fernandez-Gallardo & Ivan Paya, 2020. "Macroprudential Policy in the Euro Area," Working Papers 307121127, Lancaster University Management School, Economics Department.
    60. Bekiros, Stelios & Nilavongse, Rachatar & Uddin, Gazi Salah, 2020. "Expectation-driven house prices and debt defaults: The effectiveness of monetary and macroprudential policies," Journal of Financial Stability, Elsevier, vol. 49(C).
    61. Stephen Millard & Margarita Rubio & Alexandra Varadi, 2021. "The macroprudential toolkit: effectiveness and interactions," Bank of England working papers 902, Bank of England.
    62. Pirovano, Mara & Azzone, Michele, 2024. "Aim, focus, shoot. The choice of appropriate and effective macroprudential instruments," Working Paper Series 2979, European Central Bank.
    63. Igarashi, Yoske & Liu, Keqing, 2024. "Should macroprudential policy be countercyclical?," Journal of Economic Dynamics and Control, Elsevier, vol. 158(C).
    64. Claudia Foroni Paolo Gelain Marco Lorusso Massimiliano Marcellino, 2026. "Severe Weather and Financial (In)stability," BAFFI CAREFIN Working Papers 26266, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    65. Kim, Soyoung & Mehrotra, Aaron, 2017. "Effects of monetary and macro-prudential policies – evidence from inflation targeting economies in the Asia-Pacific region and potential implications for China," BOFIT Discussion Papers 4/2017, Bank of Finland Institute for Emerging Economies (BOFIT).
    66. Guangling Liu & Thabang Molise, 2020. "The Optimal Monetary and Macroprudential Policies for the South African Economy," South African Journal of Economics, Economic Society of South Africa, vol. 88(3), pages 368-404, September.
    67. Khwazi Magubane & Ntokozo Patrick Nzimande, 2024. "A Structural Vector Autoregression Exploration of South Africa’s Monetary and Macroprudential Policy Interactions," Economies, MDPI, vol. 12(10), pages 1-32, October.
    68. Kim, Soyoung & Mehrotra, Aaron & Shim, Seri, 2025. "Governance arrangements and the use of macroprudential policy," Journal of International Money and Finance, Elsevier, vol. 154(C).
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    Cited by:

    1. Patrick Pintus & Jacek Suda, 2019. "Learning Financial Shocks and the Great Recession," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 31, pages 123-146, January.
    2. Jean-Louis Bago & Koffi Akakpo & Imad Rherrad & Ernest Ouédraogo, 2021. "Volatility Spillover and International Contagion of Housing Bubbles," JRFM, MDPI, vol. 14(7), pages 1-14, June.
    3. Andrea Gazzani, 2020. "News and noise bubbles in the housing market," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 36, pages 46-72, April.
    4. Lambertini, Luisa & Mendicino, Caterina & Teresa Punzi, Maria, 2013. "Leaning against boom–bust cycles in credit and housing prices," Journal of Economic Dynamics and Control, Elsevier, vol. 37(8), pages 1500-1522.
    5. Xian Zheng, 2015. "Expectation, volatility and liquidity in the housing market," Applied Economics, Taylor & Francis Journals, vol. 47(37), pages 4020-4035, August.
    6. Rojas, Alejandro, 2021. "Mortgage credit growth for lower-income borrowers during the 2000s housing boom: Evidence and implications," Journal of Empirical Finance, Elsevier, vol. 62(C), pages 220-233.
    7. Hjalmarsson, Erik & Österholm, Pär, 2019. "A micro-data analysis of households’ expectations of mortgage rates," Economics Letters, Elsevier, vol. 185(C).
    8. Beatrice D. Simo-Kengne & Stephen M. Miller & Rangan Gupta, 2013. "Evolution of Monetary Policy in the US: The Role of Asset Prices," Working papers 2013-20, University of Connecticut, Department of Economics, revised Dec 2013.
    9. Gete, Pedro, 2020. "Expectations and the housing boom and bust. An open economy view," Journal of Housing Economics, Elsevier, vol. 49(C).
    10. Renhe Liu & Eddie Chi-man Hui & Jiaqi Lv & Yi Chen, 2017. "What Drives Housing Markets: Fundamentals or Bubbles?," The Journal of Real Estate Finance and Economics, Springer, vol. 55(4), pages 395-415, November.
    11. Daniel Melser, 2017. "Residential Real Estate, Risk, Return and Home Characteristics: Evidence from Sydney 2002-14," ERES eres2017_296, European Real Estate Society (ERES).
    12. Bago, Jean-Louis & Souratié, Wamadini M. & Ouédraogo, Moussa & Ouédraogo, Ernest & Dembélé, Alou, 2019. "Financial Bubbles : New Evidence from South Africa’s Stock Market," MPRA Paper 95685, University Library of Munich, Germany.
    13. Colin Caines, 2017. "Can Learning Explain Boom-Bust Cycles in Asset Prices? An Application to the US Housing Boom," 2017 Meeting Papers 695, Society for Economic Dynamics.
    14. Paolo Gelain & Kevin J. Lansing & Caterina Mendicino, 2013. "House Prices, Credit Growth, and Excess Volatility: Implications for Monetary and Macroprudential Policy," International Journal of Central Banking, International Journal of Central Banking, vol. 9(2), pages 219-276, June.
    15. Lansing, Kevin J. & LeRoy, Stephen F. & Ma, Jun, 2022. "Examining the sources of excess return predictability: Stochastic volatility or market inefficiency?," Journal of Economic Behavior & Organization, Elsevier, vol. 197(C), pages 50-72.
    16. Fève, Patrick & Moura, Alban, 2024. "Frictionless house-price momentum," Journal of Economic Dynamics and Control, Elsevier, vol. 168(C).
    17. Engsted, Tom & Pedersen, Thomas Q., 2015. "Predicting returns and rent growth in the housing market using the rent-price ratio: Evidence from the OECD countries," Journal of International Money and Finance, Elsevier, vol. 53(C), pages 257-275.
    18. John Muellbauer & Pierre St-Amant & David Williams, 2015. "Credit Conditions and Consumption, House Prices and Debt: What Makes Canada Different?," Staff Working Papers 15-40, Bank of Canada.
    19. Pedro Gete, 2015. "Housing demands, savings gluts and current account dynamics," Globalization Institute Working Papers 221, Federal Reserve Bank of Dallas.
    20. Floro, Danvee, 2019. "Testing the predictive ability of house price bubbles for macroeconomic performance: A meta-analytic approach," International Review of Financial Analysis, Elsevier, vol. 62(C), pages 164-181.
    21. Tom Engsted & Thomas Q. Pedersen, 2016. "The predictive power of dividend yields for future infl?ation: Money illusion or rational causes?," CREATES Research Papers 2016-11, Department of Economics and Business Economics, Aarhus University.
    22. Vasilios Plakandaras & Rangan Gupta & Constantinos Katrakilidis & Mark E. Wohar, 2017. "Time-Varying Role of Macroeconomic Shocks on House Prices in the US and UK: Evidence from Over 150 Years of Data," Working Papers 201765, University of Pretoria, Department of Economics.
    23. Daniel L. Tortorice, 2019. "Long-Run Expectations, Learning and the US Housing Market," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 45(4), pages 497-531, October.
    24. Engsted, Tom & Hviid, Simon J. & Pedersen, Thomas Q., 2016. "Explosive bubbles in house prices? Evidence from the OECD countries," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 40(C), pages 14-25.
    25. Paolo Gelain & Kevin J. Lansing & Gisele J. Natvik, 2015. "Explaining the Boom-Bust Cycle in the U.S. Housing Market: A Reverse-Engineering Approach," Working Paper Series 2015-2, Federal Reserve Bank of San Francisco.
    26. Silvo, Aino, 2018. "Information and credit cycles: Causes and consequences of financial instability," Bank of Finland Scientific Monographs, Bank of Finland, volume 0, number e52, December.
    27. André, Christophe & Caraiani, Petre & Călin, Adrian Cantemir & Gupta, Rangan, 2022. "Can monetary policy lean against housing bubbles?," Economic Modelling, Elsevier, vol. 110(C).
    28. Gelain, Paolo & Iskrev, Nikolay & J. Lansing, Kevin & Mendicino, Caterina, 2019. "Inflation dynamics and adaptive expectations in an estimated DSGE model," Journal of Macroeconomics, Elsevier, vol. 59(C), pages 258-277.
    29. John C. Williams, 2013. "Bubbles tomorrow and bubbles yesterday, but never bubbles today?," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue sept23.
    30. Branch, William A. & Evans, George W., 2013. "Bubbles, crashes and risk," Economics Letters, Elsevier, vol. 120(2), pages 254-258.
    31. Tom Engsted & Thomas Q. Pedersen, 2013. "Housing market volatility in the OECD area: Evidence from VAR based return decompositions," CREATES Research Papers 2013-04, Department of Economics and Business Economics, Aarhus University.
    32. Glaeser, Edward L. & Nathanson, Charles G., 2015. "Housing Bubbles," Handbook of Regional and Urban Economics, in: Gilles Duranton & J. V. Henderson & William C. Strange (ed.), Handbook of Regional and Urban Economics, edition 1, volume 5, chapter 0, pages 701-751, Elsevier.
    33. Beatrice D. Simo-Kengne & Stephen M. Miller & Rangan Gupta, 2014. "Evolution of the Monetary Transmission Mechanism in the US: The Role of Asset Returns," Working Papers 1405, University of Nevada, Las Vegas , Department of Economics.
    34. François Cohen & Matthieu Glachant & Magnus Söderberg, 2017. "The cost of adapting to climate change: evidence from the US residential sector," Working Papers hal-01695171, HAL.
    35. Sarah Kiesl-Reiter & Melanie Lührmann & Jonathan Shaw & Joachim Winter, 2025. "The formation of subjective house price expectations: the role of perceptions and local economic conditions," IFS Working Papers W25/58, Institute for Fiscal Studies.
    36. Margaret M. Jacobson, 2022. "Beliefs, Aggregate Risk, and the U.S. Housing Boom," Finance and Economics Discussion Series 2022-061r1, Board of Governors of the Federal Reserve System (U.S.), revised 31 Jan 2025.
    37. Greg Howard & Jack Liebersohn, 2023. "Regional Divergence and House Prices," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 49, pages 312-350, July.
    38. Granziera, Eleonora & Kozicki, Sharon, 2015. "House price dynamics: Fundamentals and expectations," Journal of Economic Dynamics and Control, Elsevier, vol. 60(C), pages 152-165.
    39. Biktimirov, Ernest N. & Sokolyk, Tatyana & Ayanso, Anteneh, 2024. "What is behind housing sentiment?," Finance Research Letters, Elsevier, vol. 60(C).
    40. Sarah Kiesl-Reiter & Melanie Lührmann & Jonathan Shaw & Joachim Winter, 2024. "The Formation of Subjective House Price Expectations," Rationality and Competition Discussion Paper Series 491, CRC TRR 190 Rationality and Competition.
    41. Zheng, Min & Wang, Hefei & Wang, Chengzhang & Wang, Shouyang, 2017. "Speculative behavior in a housing market: Boom and bust," Economic Modelling, Elsevier, vol. 61(C), pages 50-64.
    42. Biktimirov, Ernest N. & Sokolyk, Tatyana & Ayanso, Anteneh, 2024. "Unpacking the relation between media sentiment and house prices: A topic modeling approach," Journal of Housing Economics, Elsevier, vol. 66(C).
    43. Bekiros, Stelios & Nilavongse, Rachatar & Uddin, Gazi Salah, 2020. "Expectation-driven house prices and debt defaults: The effectiveness of monetary and macroprudential policies," Journal of Financial Stability, Elsevier, vol. 49(C).
    44. Jean-Louis Bago & Imad Rherrad & Koffi Akakpo & Ernest Ouédraogo, 2022. "An Empirical Investigation on Bubbles Contagion in Scandinavian Real Estate Markets," Businesses, MDPI, vol. 2(1), pages 1-8, March.
    45. Chi-Young Choi & Alexander Chudik & Aaron Smallwood, 2024. "Time-varying Persistence of House Price Growth: The Role of Expectations and Credit Supply," Globalization Institute Working Papers 426, Federal Reserve Bank of Dallas.
    46. Pauline Gandré, 2020. "Learning, house prices and macro-financial linkages," EconomiX Working Papers 2020-10, University of Paris Nanterre, EconomiX.
    47. Malmendier, Ulrike M. & Botsch, Matthew J., 2020. "The Long Shadows of the Great Inflation: Evidence from Residential Mortgages," CEPR Discussion Papers 14934, Centre for Economic Policy Research.
    48. Bolt, Wilko & Demertzis, Maria & Diks, Cees & Hommes, Cars & Leij, Marco van der, 2019. "Identifying booms and busts in house prices under heterogeneous expectations," Journal of Economic Dynamics and Control, Elsevier, vol. 103(C), pages 234-259.
    49. Neroli Austin & Geordie Reid, 2017. "NZSIM: A model of the New Zealand economy for forecasting and policy analysis," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 80, pages 1-14, January.
    50. Begley, Jaclene & Chan, Sewin, 2018. "The effect of housing wealth shocks on work and retirement decisions," Regional Science and Urban Economics, Elsevier, vol. 73(C), pages 180-195.
    51. Galina An & Charles Becker & Enoch Cheng, 2021. "Bubbling Away: Forecasting Real Estate Prices, Rents, and Bubbles in a Transition Economy," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 63(2), pages 263-317, June.
    52. Tsai, I-Chun, 2020. "Alternative explanation of the money illusion: The effect of unexpected low inflation," International Review of Economics & Finance, Elsevier, vol. 69(C), pages 110-123.
    53. Edward L. Glaeser & Charles G. Nathanson, 2014. "Housing Bubbles," NBER Working Papers 20426, National Bureau of Economic Research, Inc.
    54. Knut Are Aastveit & André K. Anundsen, 2018. "Asymmetric effects of monetary policy in regional housing markets," Working Papers 2018/08, Institut d'Economia de Barcelona (IEB).
    55. Alessia Bruzzo & Marco Mazzoli, 2018. "An Empirical Investigation on the European Housing Market Prices," Review of Economics & Finance, Better Advances Press, Canada, vol. 12, pages 29-42, May.
    56. Kindermann, Fabian & Le Blanc, Julia & Piazzesi, Monika & Schneider, Martin, 2021. "Learning about Housing Cost: Survey Evidence from the German House Price Boom," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242386, Verein für Socialpolitik / German Economic Association.
    57. Hjalmarsson, Erik & Österholm, Pär, 2017. "Households’ Mortgage-Rate Expectations: More Realistic than at First Glance?," Working Papers 2017:9, Örebro University, School of Business.

  15. Paolo Gelain & Kevin J. Lansing & Caterina Mendicino, 2012. "House prices, credit growth, and excess volatility: Implications for monetary and macroprudential policy," Working Paper 2012/08, Norges Bank.

    Cited by:

    1. Agénor, Pierre-Richard & Flamini, Alessandro, 2022. "Institutional mandates for macroeconomic and financial stability," Journal of Financial Stability, Elsevier, vol. 62(C).
    2. Carbó-Valverde, Santiago & Cuadros-Solas, Pedro J. & Rodríguez-Fernández, Francisco, 2025. "Cryptocurrency ownership and cognitive biases in perceived financial literacy," Journal of Behavioral and Experimental Finance, Elsevier, vol. 45(C).
    3. Krug, Sebastian, 2017. "The interaction between monetary and macroprudential policy: Should central banks "lean against the wind" to foster macro-financial stability?," Economics Discussion Papers 2017-85, Kiel Institute for the World Economy.
    4. Hiona Balfoussia & Harris Dellas & Dimitris Papageorgiou, 2018. "Loan-to-value ratio limits: an exploration for Greece," Working Papers 248, Bank of Greece.
    5. Abreu, Daniel & Félix, Sónia & Oliveira, Vitor & Silva, Fátima, 2024. "The impact of a macroprudential borrower-based measure on households’ leverage and housing choices," Journal of Housing Economics, Elsevier, vol. 64(C).
    6. Katja Neugebauer & Vítor Branco Oliveira, 2021. "Assessing the effectiveness of the Portuguese borrower-based measure in the Covid-19 context," Working Papers w202110, Banco de Portugal, Economics and Research Department.
    7. Hjalmarsson, Erik & Österholm, Pär, 2019. "Heterogeneity in Households’ Expectations of Housing Prices – Evidence from Micro Data," Working Papers 2019:11, Örebro University, School of Business.
    8. McInerney, Niall, 2019. "Macroprudential Policy, Banking and the Real Estate Sector," MPRA Paper 91777, University Library of Munich, Germany.
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    66. Gelain, Paolo & Iskrev, Nikolay & J. Lansing, Kevin & Mendicino, Caterina, 2019. "Inflation dynamics and adaptive expectations in an estimated DSGE model," Journal of Macroeconomics, Elsevier, vol. 59(C), pages 258-277.
    67. Grégory Levieuge, 2018. "La politique monétaire doit-elle être utilisée à des fins de stabilité financière ?," Revue française d'économie, Presses de Sciences-Po, vol. 0(3), pages 63-104.
    68. Emmanuel Carré & Jézabel Couppey-Soubeyran & Salim Dehmej, 2015. "La coordination entre politique monétaire et politique macroprudentielle. Que disent les modèles dsge ?," Revue économique, Presses de Sciences-Po, vol. 66(3), pages 541-572.
    69. Rots, Eyno, 2017. "Imperfect information and the house price in a general-equilibrium model," Journal of Economic Dynamics and Control, Elsevier, vol. 83(C), pages 215-231.
    70. Hiebert, Paul & Jaccard, Ivan & Schüler, Yves, 2018. "Contrasting financial and business cycles: Stylized facts and candidate explanations," Journal of Financial Stability, Elsevier, vol. 38(C), pages 72-80.
    71. William Tayler & Roy Zilberman, 2016. "Macroprudential regulation, credit spreads and the role of monetary policy," Bank of England working papers 599, Bank of England.
    72. Pierre-Richard Agénor & Luiz A. Pereira da Silva, 2013. "Inflation Targeting and Financial Stability: A Perspective from the Developing World," Working Papers Series 324, Central Bank of Brazil, Research Department.
    73. Philipp Hartmann, 2015. "Real Estate Markets and Macroprudential Policy in Europe," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(S1), pages 69-80, March.
    74. Photis Lysandrou, 2022. "The European banks’ role in the financial crisis of 2007-8: a critical assessment," New Political Economy, Taylor & Francis Journals, vol. 27(5), pages 879-894, September.
    75. Winkler, Fabian, 2020. "The role of learning for asset prices and business cycles," Journal of Monetary Economics, Elsevier, vol. 114(C), pages 42-58.
    76. Gabriel Bruneau & Ian Christensen & Césaire Meh, 2018. "Housing market dynamics and macroprudential policies," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 51(3), pages 864-900, August.
    77. Agénor, Pierre-Richard & Jackson, Timothy P., 2022. "Monetary and macroprudential policy coordination with biased preferences," Journal of Economic Dynamics and Control, Elsevier, vol. 144(C).
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    79. Thibaut Duprey & Yaz Terajima & Jing Yang, 2024. "Interaction of Macroprudential and Monetary Policies: Practice Ahead of Theory," Discussion Papers 2024-18, Bank of Canada.
    80. Hamed Ghiaie, 2018. "Macroeconomic Consequences of Bank’s Assets Reallocation After Mortgage Defaults," Thema Working Papers 2018-12, THEMA (Théorie Economique, Modélisation et Applications), CY Cergy-Paris University, ESSEC and CNRS.
    81. Stelios D. Bekiros & Alessia Paccagnini, 2015. "Macroprudential policy and forecasting using Hybrid DSGE models with financial frictions and State space Markov-Switching TVP-VARs," Open Access publications 10197/7333, School of Economics, University College Dublin.
    82. Rubio, Margarita, 2016. "Short and long-term interest rates and the effectiveness of monetary and macroprudential policies," Journal of Macroeconomics, Elsevier, vol. 47(PA), pages 103-115.
    83. Kevin J. Lansing & Benjamin Pyle, 2015. "Persistent overoptimism about economic growth," FRBSF Economic Letter, Federal Reserve Bank of San Francisco.
    84. Crowe, Christopher & Dell’Ariccia, Giovanni & Igan, Deniz & Rabanal, Pau, 2013. "How to deal with real estate booms: Lessons from country experiences," Journal of Financial Stability, Elsevier, vol. 9(3), pages 300-319.
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    87. Bekiros, Stelios & Nilavongse, Rachatar & Uddin, Gazi Salah, 2020. "Expectation-driven house prices and debt defaults: The effectiveness of monetary and macroprudential policies," Journal of Financial Stability, Elsevier, vol. 49(C).
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    91. Thorsten Franz, 2020. "The Effects of Borrower-Based Macroprudential Policy: An Empirical Application to Korea," International Journal of Central Banking, International Journal of Central Banking, vol. 16(5), pages 1-47, October.
    92. Guangling Liu & Thabang Molise, 2020. "The Optimal Monetary and Macroprudential Policies for the South African Economy," South African Journal of Economics, Economic Society of South Africa, vol. 88(3), pages 368-404, September.
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  16. Gelain, Paolo, 2010. "The external finance premium in the euro area A useful indicator for monetary policy?," Working Paper Series 1171, European Central Bank.

    Cited by:

    1. Gross, Marco, 2011. "Corporate bond spreads and real activity in the euro area - Least Angle Regression forecasting and the probability of the recession," Working Paper Series 1286, European Central Bank.
    2. Binder, Michael & Lieberknecht, Philipp & Quintana, Jorge & Wieland, Volker, 2017. "Model uncertainty in macroeconomics: On the implications of financial frictions," IMFS Working Paper Series 114, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    3. Villa, Stefania, 2016. "Financial Frictions In The Euro Area And The United States: A Bayesian Assessment," Macroeconomic Dynamics, Cambridge University Press, vol. 20(5), pages 1313-1340, July.
    4. Wieland, Volker & Afanasyeva, Elena & Kuete, Meguy & Yoo, Jinhyuk, 2016. "New methods for macro-financial model comparison and policy analysis," IMFS Working Paper Series 107, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    5. José Mauricio Gil-León & Andrés Felipe Suárez-Cant, 2020. "Implications of risk premium shocks in a small and open economy," Lecturas de Economía, Universidad de Antioquia, Departamento de Economía, issue 92, pages 133-172, Enero-Jun.
    6. Lyu, Juyi & Le, Vo Phuong Mai & Meenagh, David & Minford, Patrick, 2023. "UK monetary policy in an estimated DSGE model with financial frictions," Journal of International Money and Finance, Elsevier, vol. 130(C).
    7. Georgios Georgiadis & Martina Jancokova, 2017. "Financial Globalisation, Monetary Policy Spillovers and Macro-modelling: Tales from 1001 Shocks," Globalization Institute Working Papers 314, Federal Reserve Bank of Dallas.
    8. Frank Smets & Stefania Villa, 2016. "Slow recoveries: any role for corporate leverage?," BCAM Working Papers 1602, Birkbeck Centre for Applied Macroeconomics.
    9. Rossana Merola, 2013. "The role of financial frictions during the crisis: An estimated DSGE model," Working Paper Research 249, National Bank of Belgium.
    10. Villa, Stefania, 2013. "Financial frictions in the euro area: a Bayesian assessment," Working Paper Series 1521, European Central Bank.
    11. Darracq Pariès, Matthieu & Müller, Georg & Papadopoulou, Niki, 2023. "Fiscal multipliers within the euro area in the context of sovereign risk and bank fragility," Economic Modelling, Elsevier, vol. 126(C).
    12. Foroni, Claudia & Gelain, Paolo & Marcellino, Massimiliano, 2022. "The financial accelerator mechanism: does frequency matter?," Working Paper Series 2637, European Central Bank.

  17. Paolo Gelain & Dmitry Kulikov, 2009. "An estimated dynamic stochastic general equilibrium model for Estonia," Bank of Estonia Working Papers 2009-5, Bank of Estonia, revised 30 Dec 2009.

    Cited by:

    1. Boris Blagov, 2013. "Financial crises and time- varying risk premia in a small open economy: a Markov-Switching DSGE model for Estonia," Bank of Estonia Working Papers wp2013-8, Bank of Estonia, revised 09 Dec 2013.
    2. Viktors Ajevskis & Kristine Vitola, 2011. "Fixed Exchange Rate Versus Inflation Targeting: Evidence from DSGE Modelling," Working Papers 2011/02, Latvijas Banka.
    3. Juha Kilponen & Massimiliano Pisani & Sebastian Schmidt & Vesna Corbo & Tibor Hledik & Josef Hollmayr & Samuel Hurtado & Paulo Júlio & Dmitry Kulikov & Matthieu Lemoine & Matija Lozej & Henrik Lundval, 2019. "Comparing Fiscal Consolidation Multipliers across Models in Europe," International Journal of Central Banking, International Journal of Central Banking, vol. 15(3), pages 285-320, September.
    4. Kawther Alimi & Mohamed Chakroun, 2022. "Wage Rigidity Impacts on Unemployment and Inflation Persistence in Tunisia: Evidence from an Estimated DSGE Model," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(1), pages 474-500, March.
    5. Vladimir Arčabić, 2016. "Technology, employment and the business cycle in post-transition countries of the EU," Post-Communist Economies, Taylor & Francis Journals, vol. 28(4), pages 537-560, October.
    6. PIROVANO, Mara, 2013. "Household and firm leverage, capital flows and monetary policy in a small open economy," Working Papers 2013014, University of Antwerp, Faculty of Business and Economics.
    7. Koskinen Hannu & Vilmunen Jouko, 2018. "Implications for Aggregate Inflation of Sectoral Asymmetries: An Empirical Implication," Working Papers 1818, Tampere University, Faculty of Management and Business, Economics.
    8. Gregory de Walque & Juha Kilponen & Massimiliano Pisani & Sebastian Schmidt & Vesna Corbo & Tibor Hledik & Josef Hollmayr & Samuel Hurtado & Paulo Júlio & Dmitry Kulikov & Matthieu Lemoine & Matija Lo, 2015. "Comparing fiscal multipliers across models and countries in Europe," Working Paper Research 278, National Bank of Belgium.
    9. Koskinen Hannu & Vilmunen Jouko, 2017. "Implications for Aggregate Inflation of Sectoral Asymmetries : Generalizing Woodford," Working Papers 1716, Tampere University, Faculty of Management and Business, Economics.

Articles

  1. Gelain, Paolo & Lorusso, Marco, 2025. "Oil price fluctuations, US banks, and macroprudential policy," Journal of Monetary Economics, Elsevier, vol. 156(C).
    See citations under working paper version above.
  2. Francesco Furlanetto & Paolo Gelain & Marzie Taheri Sanjani, 2021. "Output Gap, Monetary Policy Trade-offs, and Financial Frictions," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 41, pages 52-70, July.
    See citations under working paper version above.
  3. Kristina Bluwstein & Michał Brzoza‐Brzezina & Paolo Gelain & Marcin Kolasa, 2020. "Multiperiod Loans, Occasionally Binding Constraints, and Monetary Policy: A Quantitative Evaluation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(7), pages 1691-1718, October.
    See citations under working paper version above.
  4. Gelain, Paolo & Iskrev, Nikolay & J. Lansing, Kevin & Mendicino, Caterina, 2019. "Inflation dynamics and adaptive expectations in an estimated DSGE model," Journal of Macroeconomics, Elsevier, vol. 59(C), pages 258-277.

    Cited by:

    1. Karel Musil & Stanislav Tvrz & Jan Vlcek, 2021. "News versus Surprise in Structural Forecasting Models: Central Bankers' Practical Perspective," Research and Policy Notes 2021/02, Czech National Bank, Research and Statistics Department.
    2. Fabio Busetti & Stefano Neri & Alessandro Notarpietro & Massimiliano Pisani, 2020. "Monetary policy strategies in the New Normal: a model-based analysis for the euro area," Temi di discussione (Economic working papers) 1308, Bank of Italy, Economic Research and International Relations Area.
    3. Panovska, Irina & Ramamurthy, Srikanth, 2022. "Decomposing the output gap with inflation learning," Journal of Economic Dynamics and Control, Elsevier, vol. 136(C).
    4. Pooja Kapoor & Sujata Kar, 2024. "Do Central Bank Communications Influence Survey of Professional Forecasters? An Empirical Investigation," Business Perspectives and Research, , vol. 12(1), pages 100-112, January.
    5. Yannis Dafermos & Andrew McConnel & Maria Nikolaidi & Servaas Storm & Boyan Yanovski, 2024. "Macroeconomic modeling in the Anthropocene: why the E-DSGE framework is not fit for purpose and what to do about it," Working Papers Series inetwp229, Institute for New Economic Thinking.
    6. Alessandro Cantelmo & Pietro Cova & Alessandro Notarpietro & Massimiliano Pisani, 2022. "Make-up strategies and exchange rate pass-through in a low-interest-rate environment," Temi di discussione (Economic working papers) 1398, Bank of Italy, Economic Research and International Relations Area.
    7. Ogawa, Shogo & Sasaki, Hiroaki, 2020. "Numerical Analysis of the Disequilibrium Monetary Growth Model: Secular Stagnation, Slow Convergence, and Cyclical Fluctuations," MPRA Paper 103845, University Library of Munich, Germany.
    8. Pooja Kapoor & Sujata Kar, 2023. "A review of inflation expectations and perceptions research in the past four decades: a bibliometric analysis," International Economics and Economic Policy, Springer, vol. 20(2), pages 279-302, May.
    9. Desogus, Marco & Casu, Elisa, 2022. "Chaos, granularity, and instability in economic systems of countries with emerging market economies: relationships between GDP growth rate and increasing internal inequality," MPRA Paper 115744, University Library of Munich, Germany, revised 2022.
    10. Cars Hommes & Kostas Mavromatis & Tolga Özden & Mei Zhu, 2023. "Behavioral learning equilibria in New Keynesian models," Quantitative Economics, Econometric Society, vol. 14(4), pages 1401-1445, November.
    11. Jonathan Adams & Philip Barrett, 2024. "Shocks to Inflation Expectations," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 54, October.
    12. Alessandro Ferrari & Valerio Nispi Landi, 2025. "Will the Green Transition be Inflationary? Expectations Matter," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 73(4), pages 1195-1258, December.
    13. Platonov, Konstantin, 2024. "Confidence spillovers, financial contagion, and stagnation," Journal of International Money and Finance, Elsevier, vol. 148(C).
    14. Shobande Olatunji Abdul & Shodipe Oladimeji Tomiwa, 2019. "New Keynesian Liquidity Trap and Conventional Fiscal Stance: An Estimated DSGE Model," Economics and Business, Sciendo, vol. 33(1), pages 152-169, January.

  5. Paolo Gelain & Kevin J. Lansing & Gisle J. Natvik, 2018. "Explaining the Boom–Bust Cycle in the U.S. Housing Market: A Reverse‐Engineering Approach," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(8), pages 1751-1783, December.
    See citations under working paper version above.
  6. Paolo Gelain & Kevin J Lansing & Gisle James Natvik, 2018. "Leaning Against the Credit Cycle," Journal of the European Economic Association, European Economic Association, vol. 16(5), pages 1350-1393.
    See citations under working paper version above.
  7. Gelain, Paolo & Ilbas, Pelin, 2017. "Monetary and macroprudential policies in an estimated model with financial intermediation," Journal of Economic Dynamics and Control, Elsevier, vol. 78(C), pages 164-189.
    See citations under working paper version above.
  8. Marco Guerrazzi & Paolo Gelain, 2015. "A demand-driven search model with self-fulfilling expectations: the new 'Farmerian' framework under scrutiny," International Review of Applied Economics, Taylor & Francis Journals, vol. 29(1), pages 81-104, January.
    See citations under working paper version above.
  9. Gelain, Paolo & Lansing, Kevin J., 2014. "House prices, expectations, and time-varying fundamentals," Journal of Empirical Finance, Elsevier, vol. 29(C), pages 3-25.
    See citations under working paper version above.
  10. Paolo Gelain & Kevin J. Lansing & Caterina Mendicino, 2013. "House Prices, Credit Growth, and Excess Volatility: Implications for Monetary and Macroprudential Policy," International Journal of Central Banking, International Journal of Central Banking, vol. 9(2), pages 219-276, June.
    See citations under working paper version above.
  11. Paolo Gelain & Dmitry Kulikov, 2011. "An Estimated Dynamic Stochastic General Equilibrium Model with Financial Frictions for Estonia," Eastern European Economics, Taylor & Francis Journals, vol. 49(5), pages 97-120, September.

    Cited by:

    1. Amiri, Hossein & Sayadi, Mohammad & Mamipour, Siab, 2021. "Oil Price Shocks and Macroeconomic Outcomes; Fresh Evidences from a scenario-based NK-DSGE analysis for oil-exporting countries," Resources Policy, Elsevier, vol. 74(C).
    2. Rannenberg, Ansgar & Schoder, Christian & Strasky, Jan, 2015. "The macroeconomic effects of the Euro Area's fiscal consolidation 2011-2013: A Simulation-based approach," Research Technical Papers 03/RT/15, Central Bank of Ireland.
    3. Ansgar Rannenberg & Christian Schoder & Jan Strásky, 2015. "The macroeconomic effects of the Euro Area?s fiscal consolidation 2011-2013," IMK Working Paper 156-2015, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    4. PIROVANO, Mara, 2013. "Household and firm leverage, capital flows and monetary policy in a small open economy," Working Papers 2013014, University of Antwerp, Faculty of Business and Economics.
    5. Dmitry Kulikov & Aleksei Netsunajev, 2013. "Identifying monetary policy shocks via heteroskedasticity: a Bayesian approach," Bank of Estonia Working Papers wp2013-9, Bank of Estonia, revised 09 Dec 2013.
    6. Copaciu, Mihai & Nalban, Valeriu & Bulete, Cristian, 2015. "R.E.M. 2.0, An estimated DSGE model for Romania," Dynare Working Papers 48, CEPREMAP.

  12. Gelain, Paolo, 2010. "The external finance premium in the Euro area: A dynamic stochastic general equilibrium analysis," The North American Journal of Economics and Finance, Elsevier, vol. 21(1), pages 49-71, March.

    Cited by:

    1. Francesco Furlanetto & Francesco Ravazzolo & Samad Sarferaz, 2014. "Identification of financial factors in economic fluctuations," KOF Working papers 14-364, KOF Swiss Economic Institute, ETH Zurich.
    2. Ansgar Rannenberg, 2019. "Inequality, the risk of secular stagnation and the increase in household deb," Working Paper Research 375, National Bank of Belgium.
    3. Eleni Iliopulos & Thepthida Sopraseuth, 2012. "L'intermédiation financière dans l'analyse macroéconomique : Le défi de la crise," PSE-Ecole d'économie de Paris (Postprint) halshs-00744047, HAL.
    4. Binder, Michael & Lieberknecht, Philipp & Quintana, Jorge & Wieland, Volker, 2017. "Model uncertainty in macroeconomics: On the implications of financial frictions," IMFS Working Paper Series 114, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    5. Henzel, Steffen R. & Mayr, Johannes, 2013. "The mechanics of VAR forecast pooling—A DSGE model based Monte Carlo study," The North American Journal of Economics and Finance, Elsevier, vol. 24(C), pages 1-24.
    6. Gelain, Paolo & Lorusso, Marco, 2025. "Oil price fluctuations, US banks, and macroprudential policy," Journal of Monetary Economics, Elsevier, vol. 156(C).
    7. Georgiadis, Georgios & Jančoková, Martina, 2017. "Financial globalisation, monetary policy spillovers and macro-modelling: tales from 1001 shocks," Working Paper Series 2082, European Central Bank.
    8. Pierre-Richard Agénor & Koray Alper & Luiz A. Pereira da Silva, 2011. "Capital Regulation, Monetary Policy and Financial Stability," Working Papers Series 237, Central Bank of Brazil, Research Department.
    9. Olatunji A. Shobande & Oladimeji T. Shodipe & Simplice A. Asongu, 2019. "Global Shocks Alert and Monetary Policy Responses," Working Papers 19/066, European Xtramile Centre of African Studies (EXCAS).
    10. Wieland, Volker & Afanasyeva, Elena & Kuete, Meguy & Yoo, Jinhyuk, 2016. "New methods for macro-financial model comparison and policy analysis," IMFS Working Paper Series 107, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    11. Bobasu, Alina & Ciccarelli, Matteo & Notarpietro, Alessandro & Ambrocio, Gene & Auer, Simone & Bonfim, Diana & Bottero, Margherita & Brázdik, František & Buss, Ginters & Byrne, David & Casalis, André , 2025. "Monetary policy transmission: a reference guide through ESCB models and empirical benchmarks," Occasional Paper Series 377, European Central Bank.
    12. Merola, Rossana, 2015. "The role of financial frictions during the crisis: An estimated DSGE model," Economic Modelling, Elsevier, vol. 48(C), pages 70-82.
    13. Matthieu Darracq Paries & Georg Muller & Niki Papadopoulou, 2022. "Fiscal Multipliers with Sovereign Risk and Fragile Banks," Working Papers 2022-5, Central Bank of Cyprus.
    14. Lee, Chien-Chiang & Chen, Mei-Ping & Chang, Chi-Hung, 2013. "Dynamic relationships between industry returns and stock market returns," The North American Journal of Economics and Finance, Elsevier, vol. 26(C), pages 119-144.
    15. Wieland, Volker & Cwik, Tobias & Müller, Gernot J. & Schmidt, Sebastian & Wolters, Maik, 2012. "A new comparative approach to macroeconomic modeling and policy analysis," Journal of Economic Behavior & Organization, Elsevier, vol. 83(3), pages 523-541.
    16. Foroni, Claudia & Gelain, Paolo & Marcellino, Massimiliano & Lorusso, Marco, 2026. "Severe weather and financial (in)stability," Working Paper Series 3211, European Central Bank.
    17. Claudia Foroni & Paolo Gelain & Massimiliano Marcellino, 2022. "The financial accelerator mechanism: does frequency matter?," Working Papers 22-29, Federal Reserve Bank of Cleveland.
    18. Lyu, Juyi & Le, Vo Phuong Mai & Meenagh, David & Minford, Patrick, 2023. "UK monetary policy in an estimated DSGE model with financial frictions," Journal of International Money and Finance, Elsevier, vol. 130(C).
    19. Raymond Hawkins & Jeffrey Speakes & Dan Hamilton, 2015. "Monetary policy and PID control," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 10(1), pages 183-197, April.
    20. Batabyal, Amitrajeet A., 2012. "Project financing, entrepreneurial activity, and investment in the presence of asymmetric information," The North American Journal of Economics and Finance, Elsevier, vol. 23(1), pages 115-122.
    21. Rannenberg, Ansgar, 2017. "The effect of fiscal policy and forward guidance with preferences over wealth," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168070, Verein für Socialpolitik / German Economic Association.
    22. Darracq Pariès, Matthieu & Müller, Georg & Papadopoulou, Niki, 2023. "Fiscal multipliers within the euro area in the context of sovereign risk and bank fragility," Economic Modelling, Elsevier, vol. 126(C).
    23. Schmidt, Sebastian & Wieland, Volker, 2013. "The New Keynesian Approach to Dynamic General Equilibrium Modeling: Models, Methods and Macroeconomic Policy Evaluation," Handbook of Computable General Equilibrium Modeling, in: Peter B. Dixon & Dale Jorgenson (ed.), Handbook of Computable General Equilibrium Modeling, edition 1, volume 1, chapter 0, pages 1439-1512, Elsevier.
    24. Bratsiotis, George J. & Kalubowila, Chashika D., 2025. "The cyclicality of the finance premium over the business cycle," Economic Modelling, Elsevier, vol. 142(C).
    25. Claudia Foroni Paolo Gelain Marco Lorusso Massimiliano Marcellino, 2026. "Severe Weather and Financial (In)stability," BAFFI CAREFIN Working Papers 26266, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    26. Creel, Jérôme & Hubert, Paul & Saraceno, Francesco, 2013. "An assessment of the Stability and Growth Pact reform in a small-scale macro-framework," Journal of Economic Dynamics and Control, Elsevier, vol. 37(8), pages 1567-1580.
    27. Angela Capolongo & Daniel Gros, 2020. "The ECB is running out of policy space: can fiscal policy help?," Economics and Business Letters, Oviedo University Press, vol. 9(3), pages 216-220.
    28. Wan, Junmin, 2018. "Prevention and landing of bubble," International Review of Economics & Finance, Elsevier, vol. 56(C), pages 190-204.
    29. Smets, Frank & Villa, Stefania, 2016. "Slow recoveries: Any role for corporate leverage?," Journal of Economic Dynamics and Control, Elsevier, vol. 70(C), pages 54-85.

Software components

  1. Francesco Furlanetto & Paolo Gelain & Marzie Taheri Sanjani, 2020. "Code and data files for "Output Gap, Monetary Policy Trade-offs, and Financial Frictions"," Computer Codes 20-29, Review of Economic Dynamics.
    See citations under working paper version above.Sorry, no citations of software components recorded.
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