Pick Barsky, R., Boehm, C.Elizabeth., Domestic, C. L. and you can Kimball, Meters. (2016), “Financial Coverage and sturdy Merchandise”, Government Reserve Lender out of il, Working Paper, Zero. 2016-18, 2016. , and you will Smets, F. (2005), “A ramifications of financial policy throughout the euro urban area”, The commercial Journal, 115 (April), 319–342.
The new estimated impact is the average all over a set of designs used by the fresh ECB to own rules simulations, for instance the NAWM-II design (Coenen, Grams., Karadi, P., Schmidt, S., and you will Warne, An effective. (2018), “The latest Area-Large Model II: a lengthy form of the newest ECB’s micro-built design to have forecasting and you can coverage data which have a financial industry“, Performing Papers Show, Zero 2200, ECB), this new ECB-Ft design (Angelini, Age., Bokan, Letter., Kai, C., Ciccarelli, Yards., and Zimic, S. (2019), “Starting ECB-BASE: The blueprint of your own the newest ECB semi-structural design towards the euro town”, Operating Report Collection, No 2315, ECB), the newest MMR model (Mazelis, F., Motto, R. and you may Ristiniemi, Good. (2022), “Economic coverage strategies in a low interest rate environment into euro urban area”, forthcoming), therefore the fundamental projection-mainly based equipment.
Pick in addition to Cappiello et al. (2021) Non-financial monetary intermediation regarding euro area: ramifications to own economic policy alert and you will key vulnerabilities, ECB Periodic Report no 270