Author/Editor: Serhat Solmaz, Marzie Taheri Sanjani.

Release Date:December, 2015

External headwinds, together with domestic vulnerabilities, have loomed over the prospects of
 emerging markets in recent years. We propose an empirical toolbox to quantify the impact of more...

Author/Editor: Helge Berger, Thomas Dowling, Sergi Lanau, Mico Mrkaic, Pau Rabanal, Marzie Taheri Sanjani.

Release Date:November, 2015

Potential output—in the sense of the GDP level or path an economy can sustain over the
 medium term—is a crucial benchmark for policymakers. However, it is difficult to more...

Author/Editor: Pau Rabanal, Marzie Taheri Sanjani.

Release Date:July, 2015

We suggest a new approach for analyzing the role of financial variables and shocks incomputing the output gap. We estimate a two-region DSGE model for the euro area, withfinancial frictions at the more...

Author/Editor: Marzie Taheri Sanjani.

Release Date:December, 2014

This paper investigates financial frictions in US postwar data to understand the interactionbetween the real business cycle and the credit market. A Bayesian estimation technique isused to estimate a more...

Author/Editor: Marzie Taheri Sanjani.

Release Date:October, 2014

This paper estimates a New Keynesian DSGE model with an explicit financial intermediary sector. Having measures of financial stress, such as the spread between lending and borrowing, enables the more...

Author/Editor: Francesco Furlanetto, Paolo Gelain, Marzie Taheri Sanjani.

Release Date:July, 2014

The recent global financial crisis illustrates that financial frictions are a significant source of volatility in the economy. This paper investigates monetary policy stabilization in an environment more...