Details about Günter Coenen

Access statistics for papers by Günter Coenen.

Last updated 2023-03-10. Update your information in the RePEc Author Service.

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
   Working Paper Series, European Central Bank

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 (1)

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 (30)
   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 (21)
   See also Journal Article in Journal of Money, Credit and Banking (2023)
4. Employment and the conduct of monetary policy in the euro area
   Occasional Paper Series, European Central Bank View citations (4)
5. Macroeconomic stabilisation and monetary policy effectiveness in a low-interest-rate environment
   CFS Working Paper Series, Center for Financial Studies (CFS) View citations (13)
   Also in Working Paper Series, European Central Bank (2021) View citations (18)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2021)
   See also Journal Article in Journal of Economic Dynamics and Control (2021)
6. The ECB’s price stability framework: past experience, and current and future challenges
   Occasional Paper Series, European Central Bank View citations (7)

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 (114)

2017

8. Communication of monetary policy in unconventional times
   Working Paper Series, European Central Bank View citations (110)
   Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2017) View citations (90)

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 in Journal of Applied Econometrics (2017)

2013

10. Predictive likelihood comparisons with DSGE and DSGE-VAR models
    Working Paper Series, European Central Bank View citations (20)
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 in International Journal of Central Banking (2014)

2012

12. Fiscal policy and the 'Great Recession' in the euro area
    Working Paper Series, European Central Bank View citations (119)
    Also in MPRA Paper, University Library of Munich, Germany (2011) View citations (6)
    See also Journal Article in American Economic Review (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 (18)
    See also Journal Article in Journal of Economic Dynamics and Control (2013)

2010

14. Effects of Fiscal Stimulus in Structural Models
    IMF Working Papers, International Monetary Fund View citations (111)
    See also Journal Article in American Economic Journal: Macroeconomics (2012)
15. Forecasting with DSGE models
    Working Paper Series, European Central Bank View citations (117)

2009

16. Estimation of the Euro Area Output Gap Using the NAWM
    Bank of Lithuania Working Paper Series, Bank of Lithuania View citations (18)
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 (113)
    See also Journal Article in Economic Modelling (2008)
20. International transmission and monetary policy cooperation
    Working Paper Series, European Central Bank View citations (39)
    See also Chapter (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 (588)

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 (117)
    See also Journal Article in Journal of Economic Dynamics and Control (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 (283)
    Also in Working Paper Series, European Central Bank (2005) View citations (291)
    See also Journal Article in International Finance (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 (41)
    See also Journal Article in Journal of Monetary Economics (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 (50)
27. The Performance and Robustness of Interest-Rate Rules in Models of the Euro Area
    MPRA Paper, University Library of Munich, Germany View citations (44)
    Also in Working Paper Series, European Central Bank (2005) View citations (48)
    See also Journal Article in International Journal of Central Banking (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 (48)
    Also in MPRA Paper, University Library of Munich, Germany (2004) View citations (50)
    Working Paper Series, European Central Bank (2004) View citations (49)
    See also Journal Article in American Economic Review (2004)
29. Exchange-Rate Policy and the Zero Bound on Nominal Interest
    CFS Working Paper Series, Center for Financial Studies
    Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2004) View citations (49)

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 CEPR Discussion Papers, C.E.P.R. Discussion Papers (2002) View citations (4)
    CFS Working Paper Series, Center for Financial Studies (2003)
    Econometric Society World Congress 2000 Contributed Papers, Econometric Society (2000) View citations (79)
    Working Paper Series, European Central Bank (2000) View citations (92)
    See also Journal Article in European Economic Review (2005)
31. Data Uncertainty and the Role of Money as an Information Variable for Monetary Policy
    CFS Working Paper Series, Center for Financial Studies
    Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2003) View citations (5)
    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 (32)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2003) View citations (10)
    See also Journal Article in European Economic Review (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 (49)
    See also Journal Article in Journal of Economic Dynamics and Control (2007)
34. Persistence, the Transmission Mechanism and Robust Monetary Policy
    Computing in Economics and Finance 2003, Society for Computational Economics View citations (59)
    Also in Working Paper Series, European Central Bank (2003) View citations (69)
    See also Journal Article in Scottish Journal of Political Economy (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 (51)
    CFS Working Paper Series, Center for Financial Studies (2003)
    CFS Working Paper Series, Center for Financial Studies (CFS) (2003) View citations (13)
    See also Journal Article in The B.E. Journal of Macroeconomics (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 (140)
    Also in Working Paper Series, European Central Bank (2003) View citations (143)
    Computing in Economics and Finance 2003, Society for Computational Economics (2003) View citations (124)
    See also Journal Article in Journal of Monetary Economics (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 (137)
    Also in CFS Working Paper Series, Center for Financial Studies (2003)
38. Zero lower bound: is it a problem in the euro area?
    Working Paper Series, European Central Bank View citations (47)

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 (49)
    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 (16)
    See also Journal Article in Empirical Economics (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 (152)
    See also Journal Article in Journal of Applied Econometrics (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

2023

1. 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
   See also Working Paper (2021)

2021

2. Macroeconomic stabilisation and monetary policy effectiveness in a low-interest-rate environment
   Journal of Economic Dynamics and Control, 2021, 132, (C) View citations (13)
   See also Working Paper (2021)

2017

3. 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 (20)
   See also Working Paper (2014)

2016

4. 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

5. 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 (2013)

2013

6. Gauging the effects of fiscal stimulus packages in the euro area
   Journal of Economic Dynamics and Control, 2013, 37, (2), 367-386 View citations (161)
   See also Working Paper (2012)

2012

7. Effects of Fiscal Stimulus in Structural Models
   American Economic Journal: Macroeconomics, 2012, 4, (1), 22-68 View citations (510)
   See also Working Paper (2010)
8. Fiscal Policy and the Great Recession in the Euro Area
   American Economic Review, 2012, 102, (3), 71-76 View citations (120)
   See also Working Paper (2012)

2010

9. DSGE models and their use at the ECB
   SERIEs: Journal of the Spanish Economic Association, 2010, 1, (1), 51-65 View citations (41)
10. When does fiscal stimulus work?
    Research Bulletin, 2010, 10, 6-10 View citations (7)

2008

11. Fiscal consolidation in the euro area: Long-run benefits and short-run costs
    Economic Modelling, 2008, 25, (5), 912-932 View citations (122)
    See also Working Paper (2008)
12. 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 (269)
    See also Working Paper (2007)

2007

13. Identifying the influences of nominal and real rigidities in aggregate price-setting behavior
    Journal of Monetary Economics, 2007, 54, (8), 2439-2466 View citations (96)
    See also Working Paper (2005)
14. Inflation persistence and robust monetary policy design
    Journal of Economic Dynamics and Control, 2007, 31, (1), 111-140 View citations (37)
    See also Working Paper (2003)

2006

15. A real-time database for the euro area
    Research Bulletin, 2006, 5, 6-8 View citations (3)
16. 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

17. 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 (2003)
18. Asymptotic confidence bands for the estimated autocovariance and autocorrelation functions of vector autoregressive models
    Empirical Economics, 2005, 30, (1), 65-75 View citations (5)
    See also Working Paper (2000)
19. 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 (2003)
20. Does Government Spending Crowd in Private Consumption? Theory and Empirical Evidence for the Euro Area
    International Finance, 2005, 8, (3), 435-470 View citations (295)
    See also Working Paper (2005)
21. Tax reform and labour market performance in the Euro area: a macroeconomic assessment
    Proceedings, 2005 View citations (6)
22. The Performance and Robustness of Interest-Rate Rules in Models of the Euro Area
    International Journal of Central Banking, 2005, 1, (1) View citations (41)
    See also Working Paper (2005)

2004

23. Exchange-Rate Policy and the Zero Bound on Nominal Interest Rates
    American Economic Review, 2004, 94, (2), 80-84 View citations (48)
    See also Working Paper (2004)
24. Price Stability and Monetary Policy Effectiveness when Nominal Interest Rates are Bounded at Zero
    The B.E. Journal of Macroeconomics, 2004, 4, (1), 1-25 View citations (138)
    See also Working Paper (2003)

2003

25. Persistence, The Transmission Mechanism And Robust Monetary Policy
    Scottish Journal of Political Economy, 2003, 50, (5), 527-549 View citations (65)
    See also Working Paper (2003)
26. 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 (140)
    See also Working Paper (2003)

2001

27. The demand for M3 in the euro area
    Journal of Applied Econometrics, 2001, 16, (6), 727-748 View citations (196)
    See also Working Paper (2000)

Chapters

2007

1. International Transmission and Monetary Policy Cooperation
   A chapter in International Dimensions of Monetary Policy, 2007, pp 157-192 View citations (68)
   See also Working Paper (2008)