Using Bayesian methods, I estimate a DSGE model where a recession is initiated by losses
suffered by banks and exacerbated by their inability to extend credit to the real sector. The …

This paper assesses the risk arising from transition toward a low-emission economy and
examines its transmission channels within the financial system. The environmental dynamic …

In this paper, we study the optimal mix of monetary and macroprudential policies in an
estimated two-country model of the euro area. The model includes real, nominal and …

Using a dynamic stochastic general equilibrium (DSGE) model with housing, this paper
shows that strong monetary reactions to accelerator mechanisms that push up credit growth …

We develop a dynamic general equilibrium model for the positive and normative analysis of
macroprudential policies. Optimizing financial intermediaries allocate their scarce net worth …

We characterize welfare maximizing capital requirement policies in a quantitative
macrobanking model with household, firm, and bank defaults calibrated to Euro Area data …

This paper evaluates the short-run economic and financial implications of tightening the
environmental regulations. We build an Environmental Dynamic Stochastic General …

A standard New Keynesian model is extended to include a rich financial system in which
financially constrained banks lend to firms and homeowners via defaultable long-term loans …

How should a central bank act to stabilize the ratio of debt over gross domestic product
(GDP)? We show how the persistent nature of household debt shapes the answer to this …

We probe the scope for reacting to house prices in simple and implementable monetary
policy rules, using a New Keynesian model with a housing sector and financial frictions on …