ECB researchers add financial sectors to eurozone general equilibrium model
‘EAGLE-FLI’ model permits realistic modelling of effects of financial shocks, researchers say
A team of researchers from the European Central Bank (ECB) have updated the EAGLE, a New Keynesian multi-country dynamic general equilibrium model of the eurozone, to include "financial frictions and country-specific banking sectors". They call the new model EAGLE-FLI (Euro Area and GLobal Economy with Financial LInkages).
The modified model is presented in the ECB working paper EAGLE-FLI: a macroeconomic model of banking and financial interdependence in the euro area by Nikola Bokan, Andrea
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