Details about Günter Coenen

Access statistics for papers by Günter Coenen.

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Short-id: pco326

Working Papers

2023

1. Macroeconomic Effects of Carbon Transition Policies: An Assessment Based on the ECB’s New Area-Wide Model with a Disaggregated Energy Sector
   Research Technical Papers, Central Bank of Ireland View citations (1)
   Also in Working Paper Series, European Central Bank (2023) View citations (21)
   See also Journal Article Macroeconomic effects of carbon transition policies: An assessment based on the ECB’s New Area-Wide Model with a disaggregated energy sector, European Economic Review, Elsevier (2024) View citations (12) (2024)

2022

2. Rate forward guidance in an environment of large central bank balance sheets: a Eurosystem stock-taking assessment
   Occasional Paper Series, European Central Bank View citations (4)

2021

3. Effects of State-Dependent Forward Guidance, Large-Scale Asset Purchases and Fiscal Stimulus in a Low-Interest-Rate Environment
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
   Also in Working Paper Series, European Central Bank (2020) View citations (40)
   Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium, Ghent University, Faculty of Economics and Business Administration (2019) View citations (7)
   CFS Working Paper Series, Center for Financial Studies (CFS) (2020) View citations (27)
   See also Journal Article Effects of State‐Dependent Forward Guidance, Large‐Scale Asset Purchases, and Fiscal Stimulus in a Low‐Interest‐Rate Environment, Journal of Money, Credit and Banking, Blackwell Publishing (2023) View citations (5) (2023)
4. Employment and the conduct of monetary policy in the euro area
   Occasional Paper Series, European Central Bank View citations (8)
5. Macroeconomic stabilisation and monetary policy effectiveness in a low-interest-rate environment
   Working Paper Series, European Central Bank View citations (28)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2021)
   CFS Working Paper Series, Center for Financial Studies (CFS) (2021) View citations (22)
   See also Journal Article Macroeconomic stabilisation and monetary policy effectiveness in a low-interest-rate environment, Journal of Economic Dynamics and Control, Elsevier (2021) View citations (23) (2021)
6. The ECB’s price stability framework: past experience, and current and future challenges
   Occasional Paper Series, European Central Bank View citations (20)

2018

7. 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
   Working Paper Series, European Central Bank View citations (169)

2017

8. Communication of monetary policy in unconventional times
   Working Paper Series, European Central Bank View citations (134)
   Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2017) View citations (105)

2014

9. Marginalized predictive likelihood comparisons of linear Gaussian state-space models with applications to DSGE, DSGEVAR, and VAR models
   CFS Working Paper Series, Center for Financial Studies (CFS) View citations (2)
   See also Journal Article Marginalized Predictive Likelihood Comparisons of Linear Gaussian State‐Space Models with Applications to DSGE, DSGE‐VAR, and VAR Models, Journal of Applied Econometrics, John Wiley & Sons, Ltd. (2017) View citations (23) (2017)

2013

10. Predictive likelihood comparisons with DSGE and DSGE-VAR models
    Working Paper Series, European Central Bank View citations (21)
11. Risks to price stability, the zero lower bound and forward guidance: A real-time assessment
    CFS Working Paper Series, Center for Financial Studies (CFS) View citations (11)
    Also in Working Paper Series, European Central Bank (2013) View citations (16)
    See also Journal Article Risks to Price Stability, the Zero Lower Bound, and Forward Guidance: A Real-Time Assessment, International Journal of Central Banking, International Journal of Central Banking (2014) View citations (43) (2014)

2012

12. Fiscal policy and the 'Great Recession' in the euro area
    Working Paper Series, European Central Bank View citations (138)
    Also in MPRA Paper, University Library of Munich, Germany (2011) View citations (6)
    See also Journal Article Fiscal Policy and the Great Recession in the Euro Area, American Economic Review, American Economic Association (2012) View citations (139) (2012)
13. Gauging the effects of fiscal stimulus packages in the Euro area
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) View citations (9)
    Also in Working Paper Series, European Central Bank (2012) View citations (21)
    See also Journal Article Gauging the effects of fiscal stimulus packages in the euro area, Journal of Economic Dynamics and Control, Elsevier (2013) View citations (187) (2013)

2010

14. Effects of Fiscal Stimulus in Structural Models
    IMF Working Papers, International Monetary Fund View citations (112)
    See also Journal Article Effects of Fiscal Stimulus in Structural Models, American Economic Journal: Macroeconomics, American Economic Association (2012) View citations (540) (2012)
15. Forecasting with DSGE models
    Working Paper Series, European Central Bank View citations (124)

2009

16. Estimation of the Euro Area Output Gap Using the NAWM
    Bank of Lithuania Working Paper Series, Bank of Lithuania View citations (19)
17. Extending the NAWM for the import content of exports
    MPRA Paper, University Library of Munich, Germany View citations (8)
18. Extending the NAWM with a partial indexation mechanism linking wages and trend productivitiy
    MPRA Paper, University Library of Munich, Germany View citations (1)

2008

19. Fiscal consolidation in the euro area: long-run benefits and short-run costs
    Working Paper Series, European Central Bank View citations (120)
    See also Journal Article Fiscal consolidation in the euro area: Long-run benefits and short-run costs, Economic Modelling, Elsevier (2008) View citations (128) (2008)
20. International transmission and monetary policy cooperation
    Working Paper Series, European Central Bank View citations (39)
    See also Chapter International Transmission and Monetary Policy Cooperation, NBER Chapters, National Bureau of Economic Research, Inc (2007) View citations (74) (2007)
21. The new area-wide model of the euro area: a micro-founded open-economy model for forecasting and policy analysis
    Working Paper Series, European Central Bank View citations (623)

2007

22. Conditional versus unconditional forecasting with the New Area-Wide Model of the euro area
    MPRA Paper, University Library of Munich, Germany View citations (31)
23. Tax reform and labour-market performance in the euro area: a simulation-based analysis using the New Area-Wide Model
    Working Paper Series, European Central Bank View citations (124)
    See also Journal Article Tax reform and labour-market performance in the euro area: A simulation-based analysis using the New Area-Wide Model, Journal of Economic Dynamics and Control, Elsevier (2008) View citations (282) (2008)

2005

24. Does Government Spending Crowd In Private Consumption? Theory and Empirical Evidence for the Euro Area
    IMF Working Papers, International Monetary Fund View citations (305)
    Also in Working Paper Series, European Central Bank (2005) View citations (305)
    See also Journal Article Does Government Spending Crowd in Private Consumption? Theory and Empirical Evidence for the Euro Area, International Finance, Wiley Blackwell (2005) View citations (309) (2005)
25. Identifying the Influences of Nominal and Real Rigidities in Aggregate Price-Setting Behavior
    Computing in Economics and Finance 2005, Society for Computational Economics View citations (9)
    Also in Working Paper Series, European Central Bank (2004) View citations (44)
    See also Journal Article Identifying the influences of nominal and real rigidities in aggregate price-setting behavior, Journal of Monetary Economics, Elsevier (2007) View citations (99) (2007)
26. Non-Ricardian Households and Fiscal Policy in an Estimated DSGE Model of the Euro Area
    Computing in Economics and Finance 2005, Society for Computational Economics View citations (58)
27. The Performance and Robustness of Interest-Rate Rules in Models of the Euro Area
    MPRA Paper, University Library of Munich, Germany View citations (47)
    Also in Working Paper Series, European Central Bank (2005) View citations (51)
    See also Journal Article The Performance and Robustness of Interest-Rate Rules in Models of the Euro Area, International Journal of Central Banking, International Journal of Central Banking (2005) View citations (44) (2005)

2004

28. Exchange Rate Policy and the Zero Bound on Nominal Interest Rates
    Computing in Economics and Finance 2004, Society for Computational Economics View citations (50)
    Also in Working Paper Series, European Central Bank (2004) View citations (50)
    MPRA Paper, University Library of Munich, Germany (2004) View citations (51)
    See also Journal Article Exchange-Rate Policy and the Zero Bound on Nominal Interest Rates, American Economic Review, American Economic Association (2004) View citations (51) (2004)
29. Exchange-rate policy and the zero bound on nominal interest
    CFS Working Paper Series, Center for Financial Studies (CFS) View citations (50)

2003

30. A Small Estimated Euro Area Model with Rational Expectations and Nominal Rigidities
    CFS Working Paper Series, Center for Financial Studies (CFS) View citations (6)
    Also in Econometric Society World Congress 2000 Contributed Papers, Econometric Society (2000) View citations (76)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2002) View citations (4)
    Working Paper Series, European Central Bank (2000) View citations (85)
    See also Journal Article A small estimated euro area model with rational expectations and nominal rigidities, European Economic Review, Elsevier (2005) View citations (89) (2005)
31. Data Uncertainty and the Role of Money as an Information Variable for Monetary Policy
    CFS Working Paper Series, Center for Financial Studies (CFS) View citations (5)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2003) View citations (10)
    Working Paper Series, European Central Bank (2001) View citations (62)
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2001) View citations (38)
    See also Journal Article Data uncertainty and the role of money as an information variable for monetary policy, European Economic Review, Elsevier (2005) View citations (107) (2005)
32. Downward nominal wage rigidity and the long-run Philips Curve: simulation-based evidence for the euro area
    Working Paper Series, European Central Bank View citations (12)
33. Inflation persistence and robust monetary policy design
    Working Paper Series, European Central Bank View citations (47)
    See also Journal Article Inflation persistence and robust monetary policy design, Journal of Economic Dynamics and Control, Elsevier (2007) View citations (39) (2007)
34. Persistence, the Transmission Mechanism and Robust Monetary Policy
    Computing in Economics and Finance 2003, Society for Computational Economics View citations (61)
    Also in Working Paper Series, European Central Bank (2003) View citations (68)
    See also Journal Article Persistence, The Transmission Mechanism And Robust Monetary Policy, Scottish Journal of Political Economy, Scottish Economic Society (2003) View citations (66) (2003)
35. Price Stability and Monetary Policy Effectiveness when Nominal Interest Rates are Bounded at Zero
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (21)
    Also in Working Paper Series, European Central Bank (2003) View citations (50)
    CFS Working Paper Series, Center for Financial Studies (CFS) (2003) View citations (13)
    See also Journal Article Price Stability and Monetary Policy Effectiveness when Nominal Interest Rates are Bounded at Zero, The B.E. Journal of Macroeconomics, De Gruyter (2004) View citations (144) (2004)
36. The Zero-Interest Rate Bound and the Role of the Exchange Rate for Monetary Policy in Japan
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (143)
    Also in Computing in Economics and Finance 2003, Society for Computational Economics (2003) View citations (139)
    Working Paper Series, European Central Bank (2003) View citations (144)
    See also Journal Article The zero-interest-rate bound and the role of the exchange rate for monetary policy in Japan, Journal of Monetary Economics, Elsevier (2003) View citations (144) (2003)
37. The Zero-Interest-Rate and the Role of the Exchange Rate for Monetary Policy in Japan
    CFS Working Paper Series, Center for Financial Studies (CFS) View citations (138)
38. Zero lower bound: is it a problem in the euro area?
    Working Paper Series, European Central Bank View citations (48)

2002

39. Inflation Dynamics and International Linkages: A Model of the United States, the Euro Area and Japan
    Computing in Economics and Finance 2002, Society for Computational Economics View citations (47)
    Also in Working Paper Series, European Central Bank (2002) View citations (50)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2002) View citations (18)
40. Inflation Dynamics and Robust Monetary Policy Design:In Search of a Robust Benchmark Rule for the Euro Area
    Computing in Economics and Finance 2002, Society for Computational Economics

2001

41. Evaluating Information Variables for Monetary Policy in a Noisy Economic Environment
    Computing in Economics and Finance 2001, Society for Computational Economics View citations (3)

2000

42. A SIMPLE ESTIMATED EURO AREA MODEL WITH RATIONAL EXPECTATIONS AND NOMINAL RIGIDITIES
    Computing in Economics and Finance 2000, Society for Computational Economics View citations (57)
43. Asymptotic confidence bands for the estimated autocovariance and autocorrelation functions of vector autoregressive models
    Working Paper Series, European Central Bank View citations (14)
    See also Journal Article Asymptotic confidence bands for the estimated autocovariance and autocorrelation functions of vector autoregressive models, Empirical Economics, Springer (2005) View citations (7) (2005)
44. The Demand for M3 in the Euro Area
    Econometric Society World Congress 2000 Contributed Papers, Econometric Society View citations (29)
    Also in Working Paper Series, European Central Bank (1999) View citations (142)
    See also Journal Article The demand for M3 in the euro area, Journal of Applied Econometrics, John Wiley & Sons, Ltd. (2001) View citations (208) (2001)

1998

45. Intertemporal effects of fiscal policy in an RBC model
    Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank
46. Intertemporale Effekte einer fiskalischen Konsolidierung in einem RBC-Modell
    Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank

Journal Articles

2024

1. Macroeconomic effects of carbon transition policies: An assessment based on the ECB’s New Area-Wide Model with a disaggregated energy sector
   European Economic Review, 2024, 167, (C) View citations (12)
   See also Working Paper Macroeconomic Effects of Carbon Transition Policies: An Assessment Based on the ECB’s New Area-Wide Model with a Disaggregated Energy Sector, Research Technical Papers (2023) View citations (1) (2023)

2023

2. Effects of State‐Dependent Forward Guidance, Large‐Scale Asset Purchases, and Fiscal Stimulus in a Low‐Interest‐Rate Environment
   Journal of Money, Credit and Banking, 2023, 55, (4), 825-858 View citations (5)
   See also Working Paper Effects of State-Dependent Forward Guidance, Large-Scale Asset Purchases and Fiscal Stimulus in a Low-Interest-Rate Environment, CEPR Discussion Papers (2021) View citations (3) (2021)
3. The macroeconomic implications of the transition to a low-carbon economy
   Economic Bulletin Articles, 2023, 5 View citations (11)

2021

4. Macroeconomic stabilisation and monetary policy effectiveness in a low-interest-rate environment
   Journal of Economic Dynamics and Control, 2021, 132, (C) View citations (23)
   See also Working Paper Macroeconomic stabilisation and monetary policy effectiveness in a low-interest-rate environment, Working Paper Series (2021) View citations (28) (2021)

2017

5. Marginalized Predictive Likelihood Comparisons of Linear Gaussian State‐Space Models with Applications to DSGE, DSGE‐VAR, and VAR Models
   Journal of Applied Econometrics, 2017, 32, (1), 103-119 View citations (23)
   See also Working Paper Marginalized predictive likelihood comparisons of linear Gaussian state-space models with applications to DSGE, DSGEVAR, and VAR models, CFS Working Paper Series (2014) View citations (2) (2014)

2016

6. The role of the ECB’s asset purchases in preventing a potential de-anchoring of longer-term inflation expectations
   Research Bulletin, 2016, 25 View citations (11)

2014

7. Risks to Price Stability, the Zero Lower Bound, and Forward Guidance: A Real-Time Assessment
   International Journal of Central Banking, 2014, 10, (2), 7-54 View citations (43)
   See also Working Paper Risks to price stability, the zero lower bound and forward guidance: A real-time assessment, CFS Working Paper Series (2013) View citations (11) (2013)

2013

8. Gauging the effects of fiscal stimulus packages in the euro area
   Journal of Economic Dynamics and Control, 2013, 37, (2), 367-386 View citations (187)
   See also Working Paper Gauging the effects of fiscal stimulus packages in the Euro area, International Finance Discussion Papers (2012) View citations (9) (2012)

2012

9. Effects of Fiscal Stimulus in Structural Models
   American Economic Journal: Macroeconomics, 2012, 4, (1), 22-68 View citations (540)
   See also Working Paper Effects of Fiscal Stimulus in Structural Models, IMF Working Papers (2010) View citations (112) (2010)
10. Fiscal Policy and the Great Recession in the Euro Area
    American Economic Review, 2012, 102, (3), 71-76 View citations (139)
    See also Working Paper Fiscal policy and the 'Great Recession' in the euro area, Working Paper Series (2012) View citations (138) (2012)

2010

11. DSGE models and their use at the ECB
    SERIEs: Journal of the Spanish Economic Association, 2010, 1, (1), 51-65 View citations (48)
12. When does fiscal stimulus work?
    Research Bulletin, 2010, 10, 6-10 View citations (7)

2008

13. Fiscal consolidation in the euro area: Long-run benefits and short-run costs
    Economic Modelling, 2008, 25, (5), 912-932 View citations (128)
    See also Working Paper Fiscal consolidation in the euro area: long-run benefits and short-run costs, Working Paper Series (2008) View citations (120) (2008)
14. Tax reform and labour-market performance in the euro area: A simulation-based analysis using the New Area-Wide Model
    Journal of Economic Dynamics and Control, 2008, 32, (8), 2543-2583 View citations (282)
    See also Working Paper Tax reform and labour-market performance in the euro area: a simulation-based analysis using the New Area-Wide Model, Working Paper Series (2007) View citations (124) (2007)

2007

15. Identifying the influences of nominal and real rigidities in aggregate price-setting behavior
    Journal of Monetary Economics, 2007, 54, (8), 2439-2466 View citations (99)
    See also Working Paper Identifying the Influences of Nominal and Real Rigidities in Aggregate Price-Setting Behavior, Computing in Economics and Finance 2005 (2005) View citations (9) (2005)
16. Inflation persistence and robust monetary policy design
    Journal of Economic Dynamics and Control, 2007, 31, (1), 111-140 View citations (39)
    See also Working Paper Inflation persistence and robust monetary policy design, Working Paper Series (2003) View citations (47) (2003)

2006

17. A real-time database for the euro area
    Research Bulletin, 2006, 5, 6-8 View citations (3)
18. How do VAT changes affect the economy? An illustration using the new area-wide model
    Research Bulletin, 2006, 4, 2-5 View citations (4)

2005

19. A small estimated euro area model with rational expectations and nominal rigidities
    European Economic Review, 2005, 49, (5), 1081-1104 View citations (89)
    See also Working Paper A Small Estimated Euro Area Model with Rational Expectations and Nominal Rigidities, CFS Working Paper Series (2003) View citations (6) (2003)
20. Asymptotic confidence bands for the estimated autocovariance and autocorrelation functions of vector autoregressive models
    Empirical Economics, 2005, 30, (1), 65-75 View citations (7)
    See also Working Paper Asymptotic confidence bands for the estimated autocovariance and autocorrelation functions of vector autoregressive models, Working Paper Series (2000) View citations (14) (2000)
21. Data uncertainty and the role of money as an information variable for monetary policy
    European Economic Review, 2005, 49, (4), 975-1006 View citations (107)
    See also Working Paper Data Uncertainty and the Role of Money as an Information Variable for Monetary Policy, CFS Working Paper Series (2003) View citations (5) (2003)
22. Does Government Spending Crowd in Private Consumption? Theory and Empirical Evidence for the Euro Area
    International Finance, 2005, 8, (3), 435-470 View citations (309)
    See also Working Paper Does Government Spending Crowd In Private Consumption? Theory and Empirical Evidence for the Euro Area, IMF Working Papers (2005) View citations (305) (2005)
23. Tax reform and labour market performance in the Euro area: a macroeconomic assessment
    Proceedings, 2005 View citations (6)
24. The Performance and Robustness of Interest-Rate Rules in Models of the Euro Area
    International Journal of Central Banking, 2005, 1, (1) View citations (44)
    See also Working Paper The Performance and Robustness of Interest-Rate Rules in Models of the Euro Area, MPRA Paper (2005) View citations (47) (2005)

2004

25. Exchange-Rate Policy and the Zero Bound on Nominal Interest Rates
    American Economic Review, 2004, 94, (2), 80-84 View citations (51)
    See also Working Paper Exchange Rate Policy and the Zero Bound on Nominal Interest Rates, Computing in Economics and Finance 2004 (2004) View citations (50) (2004)
26. Price Stability and Monetary Policy Effectiveness when Nominal Interest Rates are Bounded at Zero
    The B.E. Journal of Macroeconomics, 2004, 4, (1), 25 View citations (144)
    See also Working Paper Price Stability and Monetary Policy Effectiveness when Nominal Interest Rates are Bounded at Zero, CEPR Discussion Papers (2003) View citations (21) (2003)

2003

27. Persistence, The Transmission Mechanism And Robust Monetary Policy
    Scottish Journal of Political Economy, 2003, 50, (5), 527-549 View citations (66)
    See also Working Paper Persistence, the Transmission Mechanism and Robust Monetary Policy, Computing in Economics and Finance 2003 (2003) View citations (61) (2003)
28. The zero-interest-rate bound and the role of the exchange rate for monetary policy in Japan
    Journal of Monetary Economics, 2003, 50, (5), 1071-1101 View citations (144)
    See also Working Paper The Zero-Interest Rate Bound and the Role of the Exchange Rate for Monetary Policy in Japan, CEPR Discussion Papers (2003) View citations (143) (2003)

2001

29. The demand for M3 in the euro area
    Journal of Applied Econometrics, 2001, 16, (6), 727-748 View citations (208)
    See also Working Paper The Demand for M3 in the Euro Area, Econometric Society World Congress 2000 Contributed Papers (2000) View citations (29) (2000)

Chapters

2007

1. International Transmission and Monetary Policy Cooperation
   A chapter in International Dimensions of Monetary Policy, 2007, pp 157-192 View citations (74)
   See also Working Paper International transmission and monetary policy cooperation, European Central Bank (2008) View citations (39) (2008)