ECB unveils richer eurozone forecasting model
“NAWM II” models financial sector’s role in originating and propagating economic shocks
The European Central Bank has presented a new version of its eurozone macroeconomic forecasting model, featuring a more detailed simulation of the financial sector.
In The New Area-Wide Model II: an extended version of the ECB’s micro-founded model for forecasting and policy analysis with a financial sector, Günter Coenen, Peter Karadi, Sebastian Schmidt and Anders Warne say the richer modelling of the sector has several aims.
The new “NAWM II” model should provide researchers with a framework
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