Arbeitspapier
ECB-Global: Introducing ECB's global macroeconomic model for spillover analysis
In a highly interlinked global economy a key question for policy makers is how foreign shocks and policies transmit to the domestic economy. We develop a semi-structural multi-country model with rich real and financial channels of international shock propagation for the euro area, the US, Japan, the UK, China, oil-exporting economies and the rest of the world: ECB-Global. We illustrate the usefulness of ECB-Global for policy analysis by presenting its predictions regarding the global spillovers from a US monetary policy tightening, a drop in oil prices and a growth slowdown in China. The impulse responses implied by ECB-Global are well in line with those generated by other global models, with international spillovers in ECB-Global generally on the high side given its rich real and financial spillover structure.
- ISBN
-
978-92-899-2767-3
- Sprache
-
Englisch
- Erschienen in
-
Series: ECB Working Paper ; No. 2045
- Klassifikation
-
Wirtschaft
Model Construction and Estimation
Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data)
Monetary Policy, Central Banking, and the Supply of Money and Credit: General
- Thema
-
macro-modelling
multi-country models
spillovers
monetary policy
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Dieppe, Alistair
Georgiadis, Georgios
Ricci, Martino
Van Robays, Ine
Van Roye, Björn
- Ereignis
-
Veröffentlichung
- (wer)
-
European Central Bank (ECB)
- (wo)
-
Frankfurt a. M.
- (wann)
-
2017
- DOI
-
doi:10.2866/764720
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Dieppe, Alistair
- Georgiadis, Georgios
- Ricci, Martino
- Van Robays, Ine
- Van Roye, Björn
- European Central Bank (ECB)
Entstanden
- 2017
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