A two-country DSGE model with central bank digital currency (CBDC) is derived and used to
analyze the open-economy implications of CBDC for the transmission of shocks, optimal …

The seven largest emerging market economies—China, India, Brazil, Russia, Mexico,
Indonesia, and Turkey—constituted more than one‐quarter of global output and more than …

This paper estimates a two‐country model with a global bank, using US and euro area (EA)
data. Empirically, a model version with a bank capital requirement outperforms a structure …

In this paper we analyse the exchange rate pass-through (ERPT) in the euro area as a
whole and for four euro area members-Germany, France, Italy and Spain. For that purpose …

We use a VAR model with two exogenous and eight endogenous variables to evaluate the
asymmetric effect of oil price changes on the EUR/USD exchange rate. The parameters are …

We use historical data and a calibrated model of the world economy to study how a
synchronous monetary tightening can amplify cross-border transmission of monetary policy …

The analysis of the implications of international economic interdependencies for the gains
from cross-country cooperation between monetary authorities has a long history. More than …

We model oil production decisions from optimizing principles rather than assuming
exogenous oil price shocks and show that the presence of a dominant oil producer leads to …

Deleveraging from high debt can provoke deep recession with significant international side
effects. Swings in the nominal exchange rate and large variations in consumption, output …

This paper aims to evaluate whether frictions in credit markets are important for business
cycles in the United States and the euro area. I modify the DSGE financial accelerator model …