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John Mikael Juselius

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Claudio Borio & Frank Piti Disyatat & Mikael Juselius, 2013. "Rethinking potential output: Embedding information about the financial cycle," BIS Working Papers 404, Bank for International Settlements.

    Mentioned in:

    1. Le rôle des banques centrales lors du cycle financier selon Claudio Borio
      by ? in D'un champ l'autre on 2014-02-17 22:58:00
    2. Le talon d’Achille du système monétaire et financier international
      by ? in D'un champ l'autre on 2014-09-07 03:51:00
  2. Mikael Juselius & Elod Takats, 2015. "Can demography affect inflation and monetary policy?," BIS Working Papers 485, Bank for International Settlements.

    Mentioned in:

    1. La démographie influence-t-elle l’inflation et la politique monétaire ?
      by Martin Anota in D'un champ l'autre on 2015-02-12 04:16:06

Working papers

  1. David Aikman & Mathias Drehmann & Mikael Juselius & Xiaochuan Xing, 2022. "The scarring effects of deep contractions," BIS Working Papers 1043, Bank for International Settlements.

    Cited by:

    1. Martin Wolf & Luca Fornaro, 2020. "The scars of supply shocks: Implications for monetary policy," Working Papers 1214, Barcelona School of Economics.
    2. Ryan Niladri Banerjee & Aaron Mehrotra & Fabrizio Zampolli, 2024. "Keeping the momentum: how finance can continue to support growth in EMEs," BIS Papers chapters, in: Bank for International Settlements (ed.), Keeping the momentum: how finance can continue to support growth in EMEs, volume 127, pages 1-39, Bank for International Settlements.
    3. Granados, Camilo & Parra-Amado, Daniel, 2024. "Estimating the output gap after COVID: How to address unprecedented macroeconomic variations," Economic Modelling, Elsevier, vol. 135(C).
    4. Bonam, Dennis & Ciccarelli, Matteo & Gomes, Sandra & Aldama, Pierre & Bańkowski, Krzysztof & Buss, Ginters & da Costa, José Cardoso & Christoffel, Kai & Elfsbacka Schmöller, Michaela & Jacquinot, Pasc, 2024. "Challenges for monetary and fiscal policy interactions in the post-pandemic era," Occasional Paper Series 337, European Central Bank.
    5. Krahé, Max, 2023. "Understanding Italy's stagnation," Papers 277913, Dezernat Zukunft - Institute for Macrofinance, Berlin.
    6. León-Ledesma, Miguel & Shibayama, Katsuyuki, 2023. "(Endogenous) Growth Slowdowns," CEPR Discussion Papers 18506, C.E.P.R. Discussion Papers.
    7. Beqiraj, Elton & Cao, Qingqing & Minetti, Raoul & Tarquini, Giulio, 2025. "Persistent slumps: Innovation and the credit channel of monetary policy," European Economic Review, Elsevier, vol. 172(C).
    8. Elfsbacka Schmöller, Michaela & Goldfayn-Frank, Olga & Schmidt, Tobias, 2024. "Do recessions slow technology growth? Evidence from the firm level," Bank of Finland Research Discussion Papers 15/2024, Bank of Finland.
    9. Elfsbacka Schmöller, Michaela, 2022. "Endogenous technology, scarring and fiscal policy," Bank of Finland Research Discussion Papers 13/2022, Bank of Finland.
    10. Ochsner, Christian & Other, Lars & Thiel, Esther & Zuber, Christopher, 2024. "Demographic aging and long-run economic growth in Germany," Working Papers 02/2024, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung.

  2. Mikael Juselius & Nikola Tarashev, 2021. "Could corporate credit losses turn out higher than expected?," BIS Bulletins 46, Bank for International Settlements.

    Cited by:

    1. Mathias Drehmann & Mikael Juselius & Sarah Quincy, 2024. "Aggregate debt servicing and the limit on private credit," BIS Working Papers 1235, Bank for International Settlements.
    2. Giraldo, I. & Turner P, 2022. "The dollar debt of companies in Latin America: the warning signs," Documentos de trabajo 20025, FLAR.
    3. Catherine Casanova & Bryan Hardy & Mert Onen, 2021. "Covid-19 policy measures to support bank lending," BIS Quarterly Review, Bank for International Settlements, September.
    4. Juselius, Mikael & Tarashev, Nikola A., 2022. "When uncertainty decouples expected and unexpected losses," Bank of Finland Research Discussion Papers 4/2022, Bank of Finland.
    5. Bank for International Settlements, 2022. "Private sector debt and financial stability," CGFS Papers, Bank for International Settlements, number 67, december.

  3. Juselius, Mikael & Tarashev, Nikola A., 2020. "Forecasting expected and unexpected losses," Bank of Finland Research Discussion Papers 18/2020, Bank of Finland.

    Cited by:

    1. Martin Birn & Renzo Corrias & Christian Schmieder & Nikola Tarashev, 2023. "Banks' credit loss forecasts: lessons from supervisory data," BIS Working Papers 1125, Bank for International Settlements.

  4. Ambrocio, Gene & Juselius, Mikael, 2020. "Dealing with the costs of the COVID-19 pandemic – what are the fiscal options?," BoF Economics Review 2/2020, Bank of Finland.

    Cited by:

    1. Diosey Ramon Lugo-Morin, 2020. "Global Food Security in a Pandemic: The Case of the New Coronavirus (COVID-19)," World, MDPI, vol. 1(2), pages 1-20, September.
    2. Stavros Kalogiannidis, 2021. "The Impact of COVID-19 on Human Resource Management Practices and Future Marketing," International Journal of Industrial Marketing, Macrothink Institute, vol. 6(1), pages 43-55, November.

  5. Mikael Juselius & Nikola Tarashev, 2020. "Forecasting expected and unexpected losses," BIS Working Papers 913, Bank for International Settlements.

    Cited by:

    1. Martin Birn & Renzo Corrias & Christian Schmieder & Nikola Tarashev, 2023. "Banks' credit loss forecasts: lessons from supervisory data," BIS Working Papers 1125, Bank for International Settlements.

  6. Mikael Juselius & Előd Takáts, 2018. "The enduring link between demography and inflation," BIS Working Papers 722, Bank for International Settlements.

    Cited by:

    1. Ascari, Guido & Fosso, Luca, 2024. "The international dimension of trend inflation," Journal of International Economics, Elsevier, vol. 148(C).
    2. Emanuel Kohlscheen & Aaron Mehrotra & Dubravko Mihaljek, 2020. "Residential Investment and Economic Activity: Evidence from the Past Five Decades," International Journal of Central Banking, International Journal of Central Banking, vol. 16(6), pages 287-329, December.
    3. Paula C. A. M. de Albuquerque & Jorge Caiado & Andreia Pereira, 2020. "Population aging and inflation: evidence from panel cointegration," Journal of Applied Economics, Taylor & Francis Journals, vol. 23(1), pages 469-484, January.
    4. Siyan Chen & Saul Desiderio, 2023. "An agent-based framework for the analysis of the macroeconomic effects of population aging," Journal of Evolutionary Economics, Springer, vol. 33(2), pages 393-427, April.
    5. Dante B Canlas & Johnny Noe E Ravalo & Eli M Remolona, 2018. "Do small bank deposits run more than large ones? Three event studies of contagion and financial inclusion," BIS Working Papers 724, Bank for International Settlements.
    6. Ambrocio, Gene, 2020. "Inflationary household uncertainty shocks," Bank of Finland Research Discussion Papers 5/2020, Bank of Finland.
    7. People's Bank of China, 2023. "Labour market and inflation: the case of China," BIS Papers chapters, in: Bank for International Settlements (ed.), Inflation and labour markets, volume 127, pages 85-101, Bank for International Settlements.
    8. Gozluklu, Arie & Morin, Annaïg, 2019. "Stock vs. Bond yields and demographic fluctuations," Journal of Banking & Finance, Elsevier, vol. 109(C).
    9. Thieß Petersen & Martina Lizarazo López & Serguei Kaniovski & Thomas Url, 2020. "Makroökonomische Folgen der demografischen Alterung [Macroeconomic Consequences of Demographic Ageing: Simulations Until 2050]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 100(12), pages 958-963, December.
    10. Pierre L Siklos, 2022. "Monetary, fiscal and demographic interactions in Japan: impact and a comparative assessment," Working Papers halshs-03776217, HAL.
    11. Sune Karlsson & Pär Österholm, 2020. "A note on the stability of the Swedish Phillips curve," Empirical Economics, Springer, vol. 59(6), pages 2573-2612, December.
    12. György Matolcsy & Márton Nagy & Dániel Palotai & Barnabás Virág, 2020. "Inflation in the Digital Age: Inflation Measurement and Bias in the 21st Century," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 19(1), pages 5-36.
    13. Lis, Eliza & Nickel, Christiane & Papetti, Andrea, 2020. "Demographics and inflation in the euro area: a two-sector new Keynesian perspective," Working Paper Series 2382, European Central Bank.
    14. Barbiellini Amidei, Federico & Gomellini, Matteo & Piselli, Paolo, 2019. "The price of demography," MPRA Paper 94435, University Library of Munich, Germany.
    15. Claudia-Andreea Toma & Burlacioiu Cristina, 2019. "Mortality Phenomenon Analysis on Adult Population Under the Influence of Economic Factors in European Context," Journal of Social and Economic Statistics, Sciendo, vol. 8(1), pages 15-25, July.
    16. Ademmer, Martin & Boysen-Hogrefe, Jens & Fiedler, Salomon & Gern, Klaus-Jürgen & Groll, Dominik & Jannsen, Nils & Kooths, Stefan & Mösle, Saskia & Potjagailo, Galina & Stolzenburg, Ulrich, 2019. "Mittelfristprojektion für Deutschland im Herbst 2019 - Potenzialwachstum kommt in die Jahre," Kieler Konjunkturberichte 60, Kiel Institute for the World Economy (IfW Kiel).
    17. Federico Barbiellini & Matteo Gomellini & Lorenzon Incoronato & Paolo Piselli, 2020. "The Age-Productivity Profile:Long-Run Evidence from Italian Regions," RF Berlin - CReAM Discussion Paper Series 2019, Rockwool Foundation Berlin (RF Berlin) - Centre for Research and Analysis of Migration (CReAM).
    18. Claudio Borio & Marco Jacopo Lombardi & James Yetman & Egon Zakrajsek, 2023. "The two-regime view of inflation," BIS Papers, Bank for International Settlements, number 133.
    19. Serguei Kaniovski & Thomas Url & Helmut Hofer & Viola Garstenauer, 2021. "A Long-run Macroeconomic Model of the Austrian Economy (A-LMM 2.0). New Results (2021)," WIFO Studies, WIFO, number 67377.

  7. Juselius, Mikael & Takáts, Előd, 2018. "The enduring link between demography and inflation," Bank of Finland Research Discussion Papers 8/2018, Bank of Finland.

    Cited by:

    1. Ascari, Guido & Fosso, Luca, 2024. "The international dimension of trend inflation," Journal of International Economics, Elsevier, vol. 148(C).
    2. Emanuel Kohlscheen & Aaron Mehrotra & Dubravko Mihaljek, 2020. "Residential Investment and Economic Activity: Evidence from the Past Five Decades," International Journal of Central Banking, International Journal of Central Banking, vol. 16(6), pages 287-329, December.
    3. Paula C. A. M. de Albuquerque & Jorge Caiado & Andreia Pereira, 2020. "Population aging and inflation: evidence from panel cointegration," Journal of Applied Economics, Taylor & Francis Journals, vol. 23(1), pages 469-484, January.
    4. Siyan Chen & Saul Desiderio, 2023. "An agent-based framework for the analysis of the macroeconomic effects of population aging," Journal of Evolutionary Economics, Springer, vol. 33(2), pages 393-427, April.
    5. Dante B Canlas & Johnny Noe E Ravalo & Eli M Remolona, 2018. "Do small bank deposits run more than large ones? Three event studies of contagion and financial inclusion," BIS Working Papers 724, Bank for International Settlements.
    6. Ambrocio, Gene, 2020. "Inflationary household uncertainty shocks," Bank of Finland Research Discussion Papers 5/2020, Bank of Finland.
    7. People's Bank of China, 2023. "Labour market and inflation: the case of China," BIS Papers chapters, in: Bank for International Settlements (ed.), Inflation and labour markets, volume 127, pages 85-101, Bank for International Settlements.
    8. Gozluklu, Arie & Morin, Annaïg, 2019. "Stock vs. Bond yields and demographic fluctuations," Journal of Banking & Finance, Elsevier, vol. 109(C).
    9. Thieß Petersen & Martina Lizarazo López & Serguei Kaniovski & Thomas Url, 2020. "Makroökonomische Folgen der demografischen Alterung [Macroeconomic Consequences of Demographic Ageing: Simulations Until 2050]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 100(12), pages 958-963, December.
    10. Pierre L Siklos, 2022. "Monetary, fiscal and demographic interactions in Japan: impact and a comparative assessment," Working Papers halshs-03776217, HAL.
    11. Sune Karlsson & Pär Österholm, 2020. "A note on the stability of the Swedish Phillips curve," Empirical Economics, Springer, vol. 59(6), pages 2573-2612, December.
    12. György Matolcsy & Márton Nagy & Dániel Palotai & Barnabás Virág, 2020. "Inflation in the Digital Age: Inflation Measurement and Bias in the 21st Century," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 19(1), pages 5-36.
    13. Lis, Eliza & Nickel, Christiane & Papetti, Andrea, 2020. "Demographics and inflation in the euro area: a two-sector new Keynesian perspective," Working Paper Series 2382, European Central Bank.
    14. Barbiellini Amidei, Federico & Gomellini, Matteo & Piselli, Paolo, 2019. "The price of demography," MPRA Paper 94435, University Library of Munich, Germany.
    15. Claudia-Andreea Toma & Burlacioiu Cristina, 2019. "Mortality Phenomenon Analysis on Adult Population Under the Influence of Economic Factors in European Context," Journal of Social and Economic Statistics, Sciendo, vol. 8(1), pages 15-25, July.
    16. Ademmer, Martin & Boysen-Hogrefe, Jens & Fiedler, Salomon & Gern, Klaus-Jürgen & Groll, Dominik & Jannsen, Nils & Kooths, Stefan & Mösle, Saskia & Potjagailo, Galina & Stolzenburg, Ulrich, 2019. "Mittelfristprojektion für Deutschland im Herbst 2019 - Potenzialwachstum kommt in die Jahre," Kieler Konjunkturberichte 60, Kiel Institute for the World Economy (IfW Kiel).
    17. Federico Barbiellini & Matteo Gomellini & Lorenzon Incoronato & Paolo Piselli, 2020. "The Age-Productivity Profile:Long-Run Evidence from Italian Regions," RF Berlin - CReAM Discussion Paper Series 2019, Rockwool Foundation Berlin (RF Berlin) - Centre for Research and Analysis of Migration (CReAM).
    18. Claudio Borio & Marco Jacopo Lombardi & James Yetman & Egon Zakrajsek, 2023. "The two-regime view of inflation," BIS Papers, Bank for International Settlements, number 133.
    19. Serguei Kaniovski & Thomas Url & Helmut Hofer & Viola Garstenauer, 2021. "A Long-run Macroeconomic Model of the Austrian Economy (A-LMM 2.0). New Results (2021)," WIFO Studies, WIFO, number 67377.

  8. Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2018. "Monetary policy in the grip of a pincer movement," BIS Working Papers 706, Bank for International Settlements.

    Cited by:

    1. Josh Ryan-Collins & Frank van Lerven, 2018. "Bringing the helicopter to ground: a historical review of fiscal-monetary coordination to support economic growth in the 20th century," Working Papers PKWP1810, Post Keynesian Economics Society (PKES).
    2. Elena Deryugina & Maria Guseva & Alexey Ponomarenko, 2022. "The Credit Cycle and Measurement of the Natural Rate of Interest," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 11(1), pages 87-104.
    3. Frohm, Erik, 2020. "Labor shortages and wage growth," Working Paper Series 394, Sveriges Riksbank (Central Bank of Sweden).
    4. Mariña Martínez-Malvar & Laura Baselga-Pascual, 2020. "Bank Risk Determinants in Latin America," Risks, MDPI, vol. 8(3), pages 1-20, September.
    5. Claudio Borio, 2019. "Central banking in challenging times," BIS Working Papers 829, Bank for International Settlements.
    6. Stephen Grenville, 2018. "Discussion of Twenty-five Years of Inflation Targeting in Australia: Are There Better Alternatives for the Next Twenty-five Years?," RBA Annual Conference Volume (Discontinued), in: John Simon & Maxwell Sutton (ed.),Central Bank Frameworks: Evolution or Revolution?, Reserve Bank of Australia.
    7. Potjagailo, Galina & Wolters, Maik H., 2019. "Global financial cycles since 1880," IMFS Working Paper Series 132, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    8. Alex Ilek & Nimrod Cohen, 2023. "Semi-Structural Model with Household Debt for Israel," Bank of Israel Working Papers 2023.03, Bank of Israel.
    9. Nadezhda Ivanova & Mikhail Andreev & Andrey Sinyakov & Ivan Shevchuk, 2019. "Review of Bank of Russia Conference on 'Macroprudential Policy Effectiveness: Theory and Practice'," Russian Journal of Money and Finance, Bank of Russia, vol. 78(3), pages 89-121, September.
    10. Bihari, Péter, 2019. "Szempontok a jegybank mandátumának újragondolásához [Perspectives for a review of the central bank mandate]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(12), pages 1241-1256.
    11. Boehl, Gregor, 2022. "Monetary policy and speculative asset markets," European Economic Review, Elsevier, vol. 148(C).
    12. Phurichai Rungcharoenkitkul & Claudio Borio & Piti Disyatat Author-X-Name_First: Piti, 2019. "Monetary policy hysteresis and the financial cycle," BIS Working Papers 817, Bank for International Settlements.
    13. Frohm, Erik, 2020. "Price-setting and economic slack: Evidence from firm-level survey data," Journal of Macroeconomics, Elsevier, vol. 65(C).

  9. Mathias Drehmann & Mikael Juselius & Anton Korinek, 2018. "Going With the Flows: New Borrowing, Debt Service and the Transmission of Credit Booms," NBER Working Papers 24549, National Bureau of Economic Research, Inc.

    Cited by:

    1. Bezemer, Dirk & Samarina, Anna & Zhang, Lu, 2020. "Does mortgage lending impact business credit? Evidence from a new disaggregated bank credit data set," Journal of Banking & Finance, Elsevier, vol. 113(C).
    2. Ruben Tarne & Dirk Bezemer & Thomas Theobald, 2021. "The Effect of borrower-specific Loan-to-Value policies on household debt, wealth inequality and consumption volatility," FMM Working Paper 70-2021, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    3. Atif Mian & Ludwig Straub & Amir Sufi, 2021. "Indebted Demand," Working Papers 2021-82, Princeton University. Economics Department..
    4. Guglielmo Maria Caporale & Luis A. Gil-Alana & Carlos Poza, 2021. "Cycles and Long-Range Behaviour in the European Stock Markets," Dynamic Modeling and Econometrics in Economics and Finance, in: Gilles Dufrénot & Takashi Matsuki (ed.), Recent Econometric Techniques for Macroeconomic and Financial Data, pages 293-302, Springer.
    5. Borio, Claudio & Drehmann, Mathias & Xia, Fan Dora, 2020. "Forecasting recessions: the importance of the financial cycle," Journal of Macroeconomics, Elsevier, vol. 66(C).
    6. Silvo, Aino & Verona, Fabio, 2020. "The Aino 3.0 model," Bank of Finland Research Discussion Papers 9/2020, Bank of Finland.
    7. Davis, Leila & de Souza, Joao & Kim, YK. & Rella, Giacomo, 2023. "What are firms borrowing for? The role of financial assets," Economic Modelling, Elsevier, vol. 125(C).
    8. Teerapap Pangsapa & Thanaphol Kongphalee & Maneerat Gongsiang, 2025. "A Brief Note on Thailand Household Debt Dynamics, Fisher Effects, and Monetary Policy Transmission," PIER Discussion Papers 231, Puey Ungphakorn Institute for Economic Research.
    9. Alpanda, Sami & Granziera, Eleonora & Zubairy, Sarah, 2019. "State dependence of monetary policy across business, credit and interest rate cycles," Bank of Finland Research Discussion Papers 16/2019, Bank of Finland.
    10. Unger, Robert, 2018. "Revisiting the finance and growth nexus: A deeper look at sectors and instruments," Discussion Papers 55/2018, Deutsche Bundesbank.
    11. Jakob Fiedler & Josef Ruzicka & Thomas Theobald, 2019. "The Real-Time Information Content of Financial Stress and Bank Lending on European Business Cycles," IMK Working Paper 198-2019, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    12. Gabriel Garber & Atif Mian & Jacopo Ponticelli & Amir Sufi, 2018. "Household Debt and Recession in Brazil," NBER Working Papers 25170, National Bureau of Economic Research, Inc.
    13. Cengiz Tunc & Mustafa Kilinc, 2023. "Household Debt and Economic Growth: Debt Service Matters," Open Economies Review, Springer, vol. 34(1), pages 71-92, February.
    14. Anna Zabai, 2020. "How are household finances holding up against the Covid-19 shock?," BIS Bulletins 22, Bank for International Settlements.
    15. Uwe Vollmer, 2022. "Monetary policy or macroprudential policies: What can tame the cycles?," Journal of Economic Surveys, Wiley Blackwell, vol. 36(5), pages 1510-1538, December.
    16. David Longworth & Frank Milne, 2021. "Parallels Between Financial Regulation Prior to the Global Financial Crisis and Lack of Public Health Preparation Prior to Covid-19," Working Paper 1455, Economics Department, Queen's University.

  10. Mikael Juselius & Anton Korinek & Mathias Drehmann, 2017. "Debt Service: The Painful Legacy of Credit Booms," 2017 Meeting Papers 1258, Society for Economic Dynamics.

    Cited by:

    1. Michael Funke & Rongrong Sun & Linxu Zhu, 2018. "The Credit Risk of Chinese Households – A Micro-Level Assessment," CFDS Discussion Paper Series 2018/3, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.
    2. Atif Mian & Amir Sufi, 2018. "Finance and Business Cycles: The Credit-Driven Household Demand Channel," Journal of Economic Perspectives, American Economic Association, vol. 32(3), pages 31-58, Summer.
    3. Stijn Claessens & M Ayhan Kose, 2018. "Frontiers of macrofinancial linkages," BIS Papers, Bank for International Settlements, number 95.
    4. Beutel, Johannes & List, Sophia & von Schweinitz, Gregor, 2018. "An evaluation of early warning models for systemic banking crises: Does machine learning improve predictions?," Discussion Papers 48/2018, Deutsche Bundesbank.
    5. Bezemer, Dirk & Zhang, Lu, 2019. "Credit composition and the severity of post-crisis recessions," Journal of Financial Stability, Elsevier, vol. 42(C), pages 52-66.
    6. Mr. Gaston Gelos & Mr. Tommaso Mancini-Griffoli & Mr. Machiko Narita & Federico Grinberg & Umang Rawat & Shujaat Khan, 2019. "Has Higher Household Indebtedness Weakened Monetary Policy Transmission?," IMF Working Papers 2019/011, International Monetary Fund.
    7. Anna Burova, 2020. "Measuring the Debt Service Ratio in Russia: micro-level data approach," Bank of Russia Working Paper Series wps55, Bank of Russia.
    8. Phurichai Rungcharoenkitkul & Claudio Borio & Piti Disyatat Author-X-Name_First: Piti, 2019. "Monetary policy hysteresis and the financial cycle," BIS Working Papers 817, Bank for International Settlements.

  11. Drehmann, Mathias & Juselius, Mikael & Korinek, Anton, 2017. "Accounting for debt service: The painful legacy of credit booms," Bank of Finland Research Discussion Papers 12/2017, Bank of Finland.

    Cited by:

    1. Michael Funke & Rongrong Sun & Linxu Zhu, 2018. "The Credit Risk of Chinese Households – A Micro-Level Assessment," CFDS Discussion Paper Series 2018/3, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.
    2. Aldasoro, Iñaki & Borio, Claudio & Drehmann, Mathias, 2018. "Early warning indicators of banking crises: expanding the family," Journal of Financial Transformation, Capco Institute, vol. 48, pages 142-155.
    3. Beutel, Johannes & List, Sophia & von Schweinitz, Gregor, 2019. "Does machine learning help us predict banking crises?," Journal of Financial Stability, Elsevier, vol. 45(C).
    4. Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2018. "La política monetaria cercada por un movimiento de pinzas," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 21(2), pages 004-044, August.
    5. Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2018. "Monetary policy in the grip of a pincer movement," BIS Working Papers 706, Bank for International Settlements.
    6. Atif Mian & Amir Sufi, 2018. "Finance and Business Cycles: The Credit-Driven Household Demand Channel," Journal of Economic Perspectives, American Economic Association, vol. 32(3), pages 31-58, Summer.
    7. Stijn Claessens & M Ayhan Kose, 2018. "Frontiers of macrofinancial linkages," BIS Papers, Bank for International Settlements, number 95.
    8. Steve Ambler & Jeremy Kronick, 2020. "Predicting Financial Crises: Debt versus Debt Service Ratios," Working Papers 20-09, Chair in macroeconomics and forecasting, University of Quebec in Montreal's School of Management.
    9. Beutel, Johannes & List, Sophia & von Schweinitz, Gregor, 2018. "An evaluation of early warning models for systemic banking crises: Does machine learning improve predictions?," Discussion Papers 48/2018, Deutsche Bundesbank.
    10. Bezemer, Dirk & Zhang, Lu, 2019. "Credit composition and the severity of post-crisis recessions," Journal of Financial Stability, Elsevier, vol. 42(C), pages 52-66.
    11. Mr. Gaston Gelos & Mr. Tommaso Mancini-Griffoli & Mr. Machiko Narita & Federico Grinberg & Umang Rawat & Shujaat Khan, 2019. "Has Higher Household Indebtedness Weakened Monetary Policy Transmission?," IMF Working Papers 2019/011, International Monetary Fund.
    12. Claudio Borio & Piti Disyatat & Phurichai Rungcharoenkitkul, 2019. "What anchors for the natural rate of interest?," BIS Working Papers 777, Bank for International Settlements.
    13. Claudio Borio, 2021. "Back to the Future: Intellectual Challenges for Monetary Policy," Economic Papers, The Economic Society of Australia, vol. 40(4), pages 273-287, December.
    14. Anna Burova, 2020. "Measuring the Debt Service Ratio in Russia: micro-level data approach," Bank of Russia Working Paper Series wps55, Bank of Russia.
    15. Joseph E. Stiglitz, 2017. "Where Modern Macroeconomics Went Wrong," NBER Working Papers 23795, National Bureau of Economic Research, Inc.
    16. Phurichai Rungcharoenkitkul & Claudio Borio & Piti Disyatat Author-X-Name_First: Piti, 2019. "Monetary policy hysteresis and the financial cycle," BIS Working Papers 817, Bank for International Settlements.
    17. Claudio Borio, 2021. "Navigating by r*: safe or hazardous?," BIS Working Papers 982, Bank for International Settlements.

  12. Mathias Drehmann & Mikael Juselius & Anton Korinek, 2017. "Accounting for debt service: the painful legacy of credit booms," BIS Working Papers 645, Bank for International Settlements.

    Cited by:

    1. Michael Funke & Rongrong Sun & Linxu Zhu, 2018. "The Credit Risk of Chinese Households – A Micro-Level Assessment," CFDS Discussion Paper Series 2018/3, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.
    2. Aldasoro, Iñaki & Borio, Claudio & Drehmann, Mathias, 2018. "Early warning indicators of banking crises: expanding the family," Journal of Financial Transformation, Capco Institute, vol. 48, pages 142-155.
    3. Beutel, Johannes & List, Sophia & von Schweinitz, Gregor, 2019. "Does machine learning help us predict banking crises?," Journal of Financial Stability, Elsevier, vol. 45(C).
    4. Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2018. "La política monetaria cercada por un movimiento de pinzas," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 21(2), pages 004-044, August.
    5. Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2018. "Monetary policy in the grip of a pincer movement," BIS Working Papers 706, Bank for International Settlements.
    6. Atif Mian & Amir Sufi, 2018. "Finance and Business Cycles: The Credit-Driven Household Demand Channel," Journal of Economic Perspectives, American Economic Association, vol. 32(3), pages 31-58, Summer.
    7. Stijn Claessens & M Ayhan Kose, 2018. "Frontiers of macrofinancial linkages," BIS Papers, Bank for International Settlements, number 95.
    8. Steve Ambler & Jeremy Kronick, 2020. "Predicting Financial Crises: Debt versus Debt Service Ratios," Working Papers 20-09, Chair in macroeconomics and forecasting, University of Quebec in Montreal's School of Management.
    9. Beutel, Johannes & List, Sophia & von Schweinitz, Gregor, 2018. "An evaluation of early warning models for systemic banking crises: Does machine learning improve predictions?," Discussion Papers 48/2018, Deutsche Bundesbank.
    10. Bezemer, Dirk & Zhang, Lu, 2019. "Credit composition and the severity of post-crisis recessions," Journal of Financial Stability, Elsevier, vol. 42(C), pages 52-66.
    11. Mr. Gaston Gelos & Mr. Tommaso Mancini-Griffoli & Mr. Machiko Narita & Federico Grinberg & Umang Rawat & Shujaat Khan, 2019. "Has Higher Household Indebtedness Weakened Monetary Policy Transmission?," IMF Working Papers 2019/011, International Monetary Fund.
    12. Claudio Borio & Piti Disyatat & Phurichai Rungcharoenkitkul, 2019. "What anchors for the natural rate of interest?," BIS Working Papers 777, Bank for International Settlements.
    13. Claudio Borio, 2021. "Back to the Future: Intellectual Challenges for Monetary Policy," Economic Papers, The Economic Society of Australia, vol. 40(4), pages 273-287, December.
    14. Anna Burova, 2020. "Measuring the Debt Service Ratio in Russia: micro-level data approach," Bank of Russia Working Paper Series wps55, Bank of Russia.
    15. Joseph E. Stiglitz, 2017. "Where Modern Macroeconomics Went Wrong," NBER Working Papers 23795, National Bureau of Economic Research, Inc.
    16. Phurichai Rungcharoenkitkul & Claudio Borio & Piti Disyatat Author-X-Name_First: Piti, 2019. "Monetary policy hysteresis and the financial cycle," BIS Working Papers 817, Bank for International Settlements.
    17. Claudio Borio, 2021. "Navigating by r*: safe or hazardous?," BIS Working Papers 982, Bank for International Settlements.

  13. Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2017. "Why so low for so long? A long-term view of real interest rates," BIS Working Papers 685, Bank for International Settlements.

    Cited by:

    1. Francesco Paolo Mongelli & Gonzalo Camba-Mendez, 2018. "The Financial Crisis and Policy Responses in Europe (2007–2018)," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 60(4), pages 531-558, December.
    2. Nitschka, Thomas & Satkurunathan, Shajivan, 2021. "Habits die hard: implications for bond and stock markets internationally," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242358, Verein für Socialpolitik / German Economic Association.
    3. Edward Nelson, 2020. "Seven Fallacies Concerning Milton Friedman's “The Role of Monetary Policy”," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(1), pages 145-164, February.
    4. Lucas Marc Fuhrer & Nils Herger, 2021. "Real interest rates and demographic developments across generations: A panel-data analysis over two centuries," Working Papers 2021-07, Swiss National Bank.
    5. Marco Del Negro & Domenico Giannone & Marc Giannoni & Andrea Tambalotti, 2018. "Global trends in interest rates," Staff Reports 866, Federal Reserve Bank of New York.
    6. Maciej Stefański, 2023. "Natural Rate of Interest in a Small Open Economy with Application to CEE Countries," KAE Working Papers 2023-093, Warsaw School of Economics, Collegium of Economic Analysis.
    7. James B. Bullard, 2018. "R-star wars: the phantom menace," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 53(2), pages 60-65, April.
    8. Ernest Gnan & Claudia Kwapil & Maria Teresa Valderrama, 2018. "Monetary policy after the crisis: mandates, targets, and international linkages," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue Q2/18, pages 8-33.
    9. Dirk Ehnts & Michael Paetz, 2021. "COVID-19 and its economic consequences for the Euro Area," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 11(2), pages 227-249, June.
    10. Michael Buchner, 2020. "Fiscal Policy in an Age of Secular Stagnation," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 62(3), pages 398-429, September.
    11. Phurichai Rungcharoenkitkul & Fabian Winkler, 2022. "The Natural Rate of Interest Through a Hall of Mirrors," Finance and Economics Discussion Series 2022-010, Board of Governors of the Federal Reserve System (U.S.).
    12. Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2022. "Why So Low for So Long? A Long-Term View of Real Interest Rates," International Journal of Central Banking, International Journal of Central Banking, vol. 18(3), pages 47-87, September.
    13. Gilles Dufrenot & Meryem Rhouzlane, 2018. "Secular Stagnation: New Challenges for the Industrialized Countries in the 21st Century," AMSE Working Papers 1818, Aix-Marseille School of Economics, France.
    14. Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2018. "Monetary policy in the grip of a pincer movement," BIS Working Papers 706, Bank for International Settlements.
    15. Belke, Ansgar & Klose, Jens, 2020. "Equilibrium real interest rates and the financial cycle: Empirical evidence for Euro area member countries," Economic Modelling, Elsevier, vol. 84(C), pages 357-366.
    16. Stéphanie Pamies & Nicolas Carnot & Anda Pătărău, 2021. "Do Fundamentals Explain Differences between Euro Area Sovereign Interest Rates?," European Economy - Discussion Papers 141, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    17. Hernán D. Seoane, 2020. "The Real Interest Rates Across Monetary Policy Regimes," EconPol Policy Reports 22, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    18. Belke, Ansgar & Klose, Jens, 2019. "Safe haven flows, natural interest rates and secular stagnation: Empirical evidence for euro area countries," Ruhr Economic Papers 831, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    19. Elena Deryugina & Maria Guseva & Alexey Ponomarenko, 2022. "The Credit Cycle and Measurement of the Natural Rate of Interest," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 11(1), pages 87-104.
    20. Ansgar Belke & Jens Klose, 2018. "Equilibrium Real Interest Rates, Secular Stagnation, and the Financial Cycle: Empirical Evidence for Euro-Area Member Countries," ROME Working Papers 201801, ROME Network.
    21. Jacopo Bonchi & Francesco Simone Lucidi, 2020. "How Low Interest Rates Discern the Bubbles Nature: Leveraged vs Unleveraged Bubble," Working Papers 12/20, Sapienza University of Rome, DISS.
    22. Niko Hauzenberger & Daniel Kaufmann & Rebecca Stuart & Cédric Tille, 2022. "What Drives Long-Term Interest Rates? Evidence from the Entire Swiss Franc History 1852-2020," IRENE Working Papers 22-03, IRENE Institute of Economic Research.
    23. James M. Nason & Gregor W. Smith, 2021. "UK Inflation Forecasts since the Thirteenth Century," Working Paper 1454, Economics Department, Queen's University.
    24. Osoro, Jared & Cheruiyot, Kiplangat Josea, 2024. "Fiscal and monetary policy interaction during economic shocks: A wedge or bridge for bank profitability?," KBA Centre for Research on Financial Markets and Policy Working Paper Series 76, Kenya Bankers Association (KBA).
    25. Lucas Fuhrer & Nils Herger, 2022. "Real interest rates and population growth across generations," Working Papers 22.04, Swiss National Bank, Study Center Gerzensee.
    26. Fiedler, Salomon & Gern, Klaus-Jürgen & Jannsen, Nils & Wolters, Maik H., 2019. "Growth prospects, the natural interest rate, and monetary policy," Economics Discussion Papers 2019-17, Kiel Institute for the World Economy (IfW Kiel).
    27. Marx, Magali & Mojon, Benoît & Velde, François R., 2021. "Why have interest rates fallen far below the return on capital?," Journal of Monetary Economics, Elsevier, vol. 124(S), pages 57-76.
    28. Spahn, Peter, 2019. "Keynesian capital theory: Declining interest rates and persisting profits," Hohenheim Discussion Papers in Business, Economics and Social Sciences 10-2019, University of Hohenheim, Faculty of Business, Economics and Social Sciences.
    29. Claudio Borio & Piti Disyatat & Phurichai Rungcharoenkitkul, 2019. "What anchors for the natural rate of interest?," BIS Working Papers 777, Bank for International Settlements.
    30. Enrique Martínez García, 2018. "Modeling Time-Variation Over the Business Cycle (1960-2017): An International Perspective," Globalization Institute Working Papers 348, Federal Reserve Bank of Dallas.
    31. Yvan Guillemette & David Turner, 2018. "The Long View: Scenarios for the World Economy to 2060," OECD Economic Policy Papers 22, OECD Publishing.
    32. Jiří Pour, 2020. "Analýza relativní přeinvestovanosti či podinvestovanosti ekonomik na panelových datech 122 zemí světa [Analysis of Relative Over-investment and Under-investment of Economies on Panel Data for 122 C," Politická ekonomie, Prague University of Economics and Business, vol. 2020(3), pages 290-321.
    33. Rafiq, Shuddhasattwa, 2022. "How did house and stock prices respond to different crisis episodes since the 1870s?," Economic Modelling, Elsevier, vol. 114(C).
    34. Juselius, Mikael & Takáts, Előd, 2021. "Inflation and demography through time," Journal of Economic Dynamics and Control, Elsevier, vol. 128(C).
    35. Mr. Philip Barrett, 2018. "Interest-Growth Differentials and Debt Limits in Advanced Economies," IMF Working Papers 2018/082, International Monetary Fund.
    36. Barry Eichengreen, 2020. "Keynesian economics: can it return if it never died?," Review of Keynesian Economics, Edward Elgar Publishing, vol. 8(1), pages 23-35, January.
    37. Eduardo Garzón Espinosa & Bibiana Medialdea García & Esteban Cruz Hidalgo, 2021. "Fiscal Policy Approaches: An Inquiring Look From The Modern Monetary Theory," Journal of Economic Issues, Taylor & Francis Journals, vol. 55(4), pages 999-1022, October.
    38. Claudio Borio, 2021. "Back to the Future: Intellectual Challenges for Monetary Policy," Economic Papers, The Economic Society of Australia, vol. 40(4), pages 273-287, December.
    39. Boysen-Hogrefe, Jens & Fiedler, Salomon & Gern, Klaus-Jürgen & Groll, Dominik & Jannsen, Nils & Kooths, Stefan, 2021. "Vermögenspreise, Zinseffekte und die Robustheit der öffentlichen Finanzen in Deutschland - eine Szenario-Analyse," Kieler Beiträge zur Wirtschaftspolitik 36, Kiel Institute for the World Economy (IfW Kiel).
    40. Zhang, Ren & Martínez-García, Enrique & Wynne, Mark A. & Grossman, Valerie, 2021. "Ties that bind: Estimating the natural rate of interest for small open economies," Journal of International Money and Finance, Elsevier, vol. 113(C).
    41. Brand, Claus & Bielecki, Marcin & Penalver, Adrian, 2018. "The natural rate of interest: estimates, drivers, and challenges to monetary policy JEL Classification: E52, E43," Occasional Paper Series 217, European Central Bank.
    42. Darracq Pariès, Matthieu & Notarpietro, Alessandro & Kilponen, Juha & Papadopoulou, Niki & Zimic, Srečko & Aldama, Pierre & Langenus, Geert & Alvarez, Luis Julian & Lemoine, Matthieu & Angelini, Elena, 2021. "Review of macroeconomic modelling in the Eurosystem: current practices and scope for improvement," Occasional Paper Series 267, European Central Bank.
    43. Sussman, Nathan & Saadon, Yossi, 2018. "Nominal exchange rate dynamics and monetary policy: uncovered interest rate parity and purchasing power parity revisited," CEPR Discussion Papers 13235, C.E.P.R. Discussion Papers.
    44. Han, Minsoo, 2022. "International financial integration and total factor productivity losses from underdeveloped domestic financial markets," Economics Letters, Elsevier, vol. 212(C).
    45. Paul Beaudry & Césaire Meh, 2021. "Monetary Policy, Trends in Real Interest Rates and Depressed Demand," Staff Working Papers 21-27, Bank of Canada.
    46. Ruch,Franz Ulrich, 2021. "Neutral Real Interest Rates in Inflation Targeting Emerging and Developing Economies," Policy Research Working Paper Series 9711, The World Bank.
    47. Agnieszka Gehringer & Thomas Mayer, 2019. "Understanding low interest rates: evidence from Japan, Euro Area, United States and United Kingdom," Scottish Journal of Political Economy, Scottish Economic Society, vol. 66(1), pages 28-53, February.
    48. Enrique Martínez García, 2020. "Get the Lowdown: The International Side of the Fall in the U.S. Natural Rate of Interest," Globalization Institute Working Papers 403, Federal Reserve Bank of Dallas, revised 20 Feb 2021.
    49. Gourinchas, Pierre-Olivier & Rey, Hélène & Sauzet, Maxime, 2022. "Global Real Rates: A Secular Approach," CEPR Discussion Papers 16941, C.E.P.R. Discussion Papers.
    50. Phurichai Rungcharoenkitkul & Claudio Borio & Piti Disyatat Author-X-Name_First: Piti, 2019. "Monetary policy hysteresis and the financial cycle," BIS Working Papers 817, Bank for International Settlements.
    51. Claudio Borio, 2019. "On money, debt, trust and central banking," BIS Working Papers 763, Bank for International Settlements.
    52. Dieter Helm, 2020. "The Environmental Impacts of the Coronavirus," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 76(1), pages 21-38, May.
    53. Eric Tymoigne, 2020. "Monetary Sovereignty: Nature, Implementation, and Implications," Public Budgeting & Finance, Wiley Blackwell, vol. 40(3), pages 49-71, September.
    54. Karel Brůna & Jiří Pour, 2023. "Population aging and structural over/underinvestment," Economic Change and Restructuring, Springer, vol. 56(4), pages 2339-2383, August.
    55. Capraro, Santiago & Panico, Carlo & Torres-Gonzalez, Luis Daniel, 2021. "The persistent and generalised decline in the U. S. interest rates: an alternative interpretation," MPRA Paper 110181, University Library of Munich, Germany.
    56. Claudio Borio, 2021. "Navigating by r*: safe or hazardous?," BIS Working Papers 982, Bank for International Settlements.

  14. Mikael Juselius & Claudio Borio & Piti Disyatat & Mathias Drehmann, 2016. "Monetary policy, the financial cycle and ultra-low interest rates," BIS Working Papers 569, Bank for International Settlements.

    Cited by:

    1. Gabriele Fiorentini & Alessandro Galesi & Gabriel Pérez-Quirós & Enrique Sentana, 2018. "The Rise and Fall of the Natural Interest Rate," Working Paper series 18-29, Rimini Centre for Economic Analysis.
    2. Beyer, Robert & Milivojevic, Lazar, 2021. "Dynamics and synchronization of global equilibrium interest rates," IMFS Working Paper Series 146, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    3. Bruno Albuquerque, 2019. "One Size Fits All? Monetary Policy and Asymmetric Household Debt Cycles in U.S. States," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(5), pages 1309-1353, August.
    4. Jorge E. Galán & Javier Mencía, 2018. "Empirical assessment of alternative structural methods for identifying cyclical systemic risk in Europe," Working Papers 1825, Banco de España.
    5. Joerg Bibow, 2020. " The General Theory as "Depression Economics"? Financial Instability and Crises in Keynes's Monetary Thought," Economics Working Paper Archive wp_974, Levy Economics Institute.
    6. William Chen & Gregory Phelan, 2020. "Should Monetary Policy Target Financial Stability?," Department of Economics Working Papers 2020-01, Department of Economics, Williams College.
    7. Bua, Giovanna & Trecroci, Carmine, 2016. "International Equity Markets Interdependence: Bigger Shocks or Contagion in the 21st Century?," MPRA Paper 74771, University Library of Munich, Germany.
    8. Piti Disyatat, 2019. "Comments on "The global impact of risk-off shocks"," BIS Papers chapters, in: Bank for International Settlements (ed.), Asia-Pacific fixed income markets: evolving structure, participation and pricing, volume 102, pages 25-28, Bank for International Settlements.
    9. Boris Hofmann & Gert Peersman, 2017. "Is there a debt service channel of monetary transmission?," BIS Quarterly Review, Bank for International Settlements, December.
    10. Krustev, Georgi, 2019. "The natural rate of interest and the financial cycle," Journal of Economic Behavior & Organization, Elsevier, vol. 162(C), pages 193-210.
    11. Łukasz Kurowski, 2021. "Financial cycle − A critical analysis of the methodology for its identification," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 10(3), pages 99-116.
    12. Maciej Stefański, 2023. "Natural Rate of Interest in a Small Open Economy with Application to CEE Countries," KAE Working Papers 2023-093, Warsaw School of Economics, Collegium of Economic Analysis.
    13. Christophe Blot & Paul Hubert & Fabien Labondance, 2017. "Does Monetary Policy generate Asset Price Bubbles?," Working Papers 2017-06, CRESE.
    14. Drehmann, Mathias & Juselius, Mikael & Korinek, Anton, 2017. "Accounting for debt service: The painful legacy of credit booms," Bank of Finland Research Discussion Papers 12/2017, Bank of Finland.
    15. Cecion, Martina & Coenen, Günter & Gerke, Rafael & Le Bihan, Hervé & Motto, Roberto & Aguilar, Pablo & Ajevskis, Viktors & Giesen, Sebastian & Albertazzi, Ugo & Gilbert, Niels & Al-Haschimi, Alexander, 2021. "The ECB’s price stability framework: past experience, and current and future challenges," Occasional Paper Series 269, European Central Bank.
    16. Isabel Cairó & Jae W. Sim, 2020. "Monetary Policy and Financial Stability," Finance and Economics Discussion Series 2020-101, Board of Governors of the Federal Reserve System (U.S.).
    17. Victor Pontines, 2016. "The Financial Cycles in Four East Asian Economies," Working Papers wp17, South East Asian Central Banks (SEACEN) Research and Training Centre.
    18. J. Boeckx & M. de Sola Perea & M. Deroose & G. de Walque & Th. Lejeune & Ch. Van Nieuwenhuyse, 2018. "What will happen when interest rates go up?," Economic Review, National Bank of Belgium, issue iii, pages 35-56, september.
    19. Bean, Charles, 2018. "Central banking after the great recession," LSE Research Online Documents on Economics 87444, London School of Economics and Political Science, LSE Library.
    20. Angrick, Stefan & Nemoto, Naoko, 2017. "Central Banking below Zero: The Implementation of Negative Interest Rate Policies in Europe and Japan," ADBI Working Papers 740, Asian Development Bank Institute.
    21. Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2022. "Why So Low for So Long? A Long-Term View of Real Interest Rates," International Journal of Central Banking, International Journal of Central Banking, vol. 18(3), pages 47-87, September.
    22. Luca Agnello & Vítor Castro & Ricardo M. Sousa, 2023. "Interest rate gaps in an uncertain global context: why “too” low (high) for “so” long?," Empirical Economics, Springer, vol. 64(2), pages 539-565, February.
    23. Jeerawadee Pumjaroen & Preecha Vichitthamaros & Yuthana Sethapramote, 2020. "Forecasting Economic Cycle with a Structural Equation Model: Evidence from Thailand," International Journal of Economics and Financial Issues, Econjournals, vol. 10(3), pages 47-57.
    24. Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2018. "Monetary policy in the grip of a pincer movement," BIS Working Papers 706, Bank for International Settlements.
    25. Belke, Ansgar & Klose, Jens, 2020. "Equilibrium real interest rates and the financial cycle: Empirical evidence for Euro area member countries," Economic Modelling, Elsevier, vol. 84(C), pages 357-366.
    26. Amat Adarov, 2018. "Financial Cycles Around the World," wiiw Working Papers 145, The Vienna Institute for International Economic Studies, wiiw.
    27. Mandler, Martin & Scharnagl, Michael, 2019. "Financial cycles across G7 economies: A view from wavelet analysis," Discussion Papers 22/2019, Deutsche Bundesbank.
    28. Strohsal, Till & Proaño Acosta, Christian & Wolters, Jürgen, 2015. "Characterizing the financial cycle: Evidence from a frequency domain analysis," SFB 649 Discussion Papers 2015-021, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    29. Andrew Filardo & Marco Jacopo Lombardi & Marek Raczko, 2018. "Measuring financial cycle time," BIS Working Papers 755, Bank for International Settlements.
    30. Svensson, Lars E.O., 2017. "Cost-benefit analysis of leaning against the wind," Journal of Monetary Economics, Elsevier, vol. 90(C), pages 193-213.
    31. Marcin Bielecki & Michał Brzoza‐Brzezina & Marcin Kolasa & Krzysztof Makarski, 2019. "Could the Boom‐Bust in the Eurozone Periphery Have Been Prevented?," Journal of Common Market Studies, Wiley Blackwell, vol. 57(2), pages 336-352, March.
    32. Lee, Dong Jin & Hahm, Joon-Ho & Park, Hail & Park, Ki Young, 2020. "Measuring the Natural Rate of Interest with Financial Gaps: The Cases of Japan and South Korea," Japan and the World Economy, Elsevier, vol. 54(C).
    33. Ansgar Belke & Jens Klose, 2018. "Equilibrium Real Interest Rates, Secular Stagnation, and the Financial Cycle: Empirical Evidence for Euro-Area Member Countries," ROME Working Papers 201801, ROME Network.
    34. Beirne, John, 2019. "Financial Cycles in Asset Markets and Regions," ADBI Working Papers 1052, Asian Development Bank Institute.
    35. Adam Cagliarini & Fiona Price, 2017. "Exploring the Link between the Macroeconomic and Financial Cycles," RBA Annual Conference Volume (Discontinued), in: Jonathan Hambur & John Simon (ed.),Monetary Policy and Financial Stability in a World of Low Interest Rates, Reserve Bank of Australia.
    36. Klose, Jens, 2020. "Equilibrium real interest rates for the BRICS countries," The Journal of Economic Asymmetries, Elsevier, vol. 21(C).
    37. Qiuyi Yang & Youze Lang & Changsheng Xu, 2018. "Is the High Interest Rate Combined with Intense Deleveraging Campaign Desirable? A Collateral Mechanism under Stringent Credit Constraints," Sustainability, MDPI, vol. 10(12), pages 1-22, December.
    38. Jorge E. Galán, 2019. "Measuring credit-to-gdp gaps. The hodrick-prescott filter revisited," Occasional Papers 1906, Banco de España.
    39. François Gourio & Anil K. Kashyap & Jae W. Sim, 2017. "The Tradeoffs in Leaning Against the Wind," Working Paper Series WP-2017-21, Federal Reserve Bank of Chicago.
    40. Yildirim, Zekeriya, 2022. "Global financial risk, the risk-taking channel, and monetary policy in emerging markets," Economic Modelling, Elsevier, vol. 116(C).
    41. van Riet Ad, 2019. "Monetary Policy and Unnatural Low Interest Rates: Secular Stagnation or Financial Repression?," Review of Economics, De Gruyter, vol. 70(2), pages 99-135, August.
    42. Agnello, Luca & Castro, Vítor & Sousa, Ricardo M., 2022. "On the international co-movement of natural interest rates," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 80(C).
    43. Sascha Buetzer, 2022. "Advancing the Monetary Policy Toolkit through Outright Transfers," IMF Working Papers 2022/087, International Monetary Fund.
    44. Holston, Kathryn & Laubach, Thomas & Williams, John C., 2017. "Measuring the natural rate of interest: International trends and determinants," Journal of International Economics, Elsevier, vol. 108(S1), pages 59-75.
    45. Mariarosaria Comunale & Jonas Striaukas, 2017. "Unconventional Monetary Policy: Interest Rates and Low Inflation. A Review of Literature and Methods," Bank of Lithuania Occasional Paper Series 13, Bank of Lithuania.
    46. Mathias Drehmann & Mikael Juselius & Anton Korinek, 2018. "Going With the Flows: New Borrowing, Debt Service and the Transmission of Credit Booms," NBER Working Papers 24549, National Bureau of Economic Research, Inc.
    47. Kang, Kyu Ho & Do, Kyeongtak, 2024. "Korea’s neutral interest rate: Estimates, determinants, and monetary policy stance," Journal of Asian Economics, Elsevier, vol. 92(C).
    48. Fiedler, Salomon & Gern, Klaus-Jürgen & Jannsen, Nils & Wolters, Maik H., 2019. "Growth prospects, the natural interest rate, and monetary policy," Economics Discussion Papers 2019-17, Kiel Institute for the World Economy (IfW Kiel).
    49. Claudio Borio & Piti Disyatat & Phurichai Rungcharoenkitkul, 2019. "What anchors for the natural rate of interest?," BIS Working Papers 777, Bank for International Settlements.
    50. William Chen & Gregory Phelan, 2022. "Online Appendix to Should Monetary Policy Target Financial Stability"," Online Appendices 21-244, Review of Economic Dynamics.
    51. Mr. Yan Carriere-Swallow & Mr. Luis Ignacio Jácome & Mr. Nicolas E Magud & Alejandro M. Werner, 2016. "Central Banking in Latin America: The Way Forward," IMF Working Papers 2016/197, International Monetary Fund.
    52. Warapong Wongwachara & Bovonvich Jindarak & Nuwat Nookhwun & Sophon Tunyavetchakit & Chutipha Klungjaturavet, 2018. "Integrating Monetary Policy and Financial Stability: A New Framework," PIER Discussion Papers 100, Puey Ungphakorn Institute for Economic Research.
    53. Cabral, Inês & Detken, Carsten & Fell, John & Henry, Jérôme & Hiebert, Paul & Kapadia, Sujit & Pires, Fatima & Salleo, Carmelo & Constâncio, Vítor & Nicoletti Altimari, Sergio, 2019. "Macroprudential policy at the ECB: Institutional framework, strategy, analytical tools and policies," Occasional Paper Series 227, European Central Bank.
    54. Piti Disyatat, 2017. "Discussion of Exploring the Link between the Macroeconomic and Financial Cycles," RBA Annual Conference Volume (Discontinued), in: Jonathan Hambur & John Simon (ed.),Monetary Policy and Financial Stability in a World of Low Interest Rates, Reserve Bank of Australia.
    55. Schularick, Moritz & ter Steege, Lucas & Ward, Felix, 2020. "Leaning against the wind and crisis risk," CEPR Discussion Papers 14797, C.E.P.R. Discussion Papers.
    56. Dilian Vassilev, 2020. "Secular stagnation – the origin of the concept, a review of the scientific literature and the nature of the academic debate," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 137-158.
    57. Alex Ilek & Nimrod Cohen, 2023. "Semi-Structural Model with Household Debt for Israel," Bank of Israel Working Papers 2023.03, Bank of Israel.
    58. Claudio Borio, 2024. "Whither inflation targeting as a global monetary standard?," BIS Working Papers 1230, Bank for International Settlements.
    59. Svensson, Lars E.O., 2017. "Leaning Against the Wind: Costs and Benefits, Effects on Debt, Leaning in DSGE Models, and a Framework for Comparison of Result," CEPR Discussion Papers 12226, C.E.P.R. Discussion Papers.
    60. Joscha Beckmann & Klaus-Jürgen Gern & Nils Jannsen, 2022. "Should they stay or should they go? Negative interest rate policies under review," International Economics and Economic Policy, Springer, vol. 19(4), pages 885-912, October.
    61. Solikin M. Juhro & Bernard Njindan Iyke & Paresh Kumar Narayan, 2021. "Capital Flow Dynamics And The Synchronization Of Financial Cycles And Business Cycles In Emerging Market Economies," Working Papers WP/02/2021, Bank Indonesia.
    62. Martin Mandler & Michael Scharnagl, 2022. "Financial Cycles in Euro Area Economies: A Cross‐Country Perspective Using Wavelet Analysis," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 84(3), pages 569-593, June.
    63. Christophe Blot & Paul Hubert & Fabien Labondance, 2020. "The asymmetric effects of monetary policy on stock price bubbles," Documents de Travail de l'OFCE 2020-12, Observatoire Francais des Conjonctures Economiques (OFCE).
    64. Ben-Haim, Yakov & Demertzis, Maria & Van den End, Jan Willem, 2018. "Evaluating monetary policy rules under fundamental uncertainty: An info-gap approach," Economic Modelling, Elsevier, vol. 73(C), pages 55-70.
    65. Martin Nordström, 2020. "A forecast evaluation of the Riksbank's policy‐rate projections," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 49(3), September.
    66. Zhang, Ren & Martínez-García, Enrique & Wynne, Mark A. & Grossman, Valerie, 2021. "Ties that bind: Estimating the natural rate of interest for small open economies," Journal of International Money and Finance, Elsevier, vol. 113(C).
    67. Brand, Claus & Bielecki, Marcin & Penalver, Adrian, 2018. "The natural rate of interest: estimates, drivers, and challenges to monetary policy JEL Classification: E52, E43," Occasional Paper Series 217, European Central Bank.
    68. Enisse Kharroubi & Emanuel Kohlscheen, 2017. "Consumption-led expansions," BIS Quarterly Review, Bank for International Settlements, March.
    69. Giorgio Massari & Luca Portoghese & Patrizio Tirelli, 2024. "Whither Liquidity Shocks? Implications for R∗ and Monetary Policy," DEM Working Papers Series 217, University of Pavia, Department of Economics and Management.
    70. Andrey Sinyakov & Alexey Porshakov, 2019. "Estimates of the Natural Rate of Interest for Russia: Is 'Navigating by the Stars' Useful?," Russian Journal of Money and Finance, Bank of Russia, vol. 78(4), pages 3-47, December.
    71. Hodula Martin & Pfeifer Lukáš, 2018. "Fiscal-Monetary-Financial Stability Interactions in a Data-Rich Environment," Review of Economic Perspectives, Sciendo, vol. 18(3), pages 195-224, September.
    72. Kerry Liu, 2020. "Hong Kong: Inevitably irrelevant to China?," Economic Affairs, Wiley Blackwell, vol. 40(1), pages 2-23, February.
    73. Kevin Clinton & Mr. R. S Craig & Mr. Douglas Laxton & Hou Wang, 2019. "Strengthening the Monetary Policy Framework in Korea," IMF Working Papers 2019/103, International Monetary Fund.
    74. van Wijnbergen, Sweder, 2018. "Real interest rates, exchange rates and the ZLB: on Secular Stagnation," CEPR Discussion Papers 12837, C.E.P.R. Discussion Papers.
    75. Costas Karfakis & Eftychia Karfaki, 2018. "Is the financial cycle a leading indicator of real output during expansions and contractions? A quantile analysis for Greece," Discussion Paper Series 2018_02, Department of Economics, University of Macedonia, revised Feb 2018.
    76. Phurichai Rungcharoenkitkul & Claudio Borio & Piti Disyatat Author-X-Name_First: Piti, 2019. "Monetary policy hysteresis and the financial cycle," BIS Working Papers 817, Bank for International Settlements.
    77. Zacek, Jan, 2020. "Should monetary policy lean against the wind? Simulations based on a DSGE model with an occasionally binding credit constraint," Economic Modelling, Elsevier, vol. 88(C), pages 293-311.
    78. Stefano Neri & Giuseppe Ferrero, 2017. "Monetary policy in a low interest rate environment," Questioni di Economia e Finanza (Occasional Papers) 392, Bank of Italy, Economic Research and International Relations Area.
    79. Malgorzata Porada - Rochon, 2020. "The Length of Financial Cycle and its Impact on Business Cycle in Poland," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 1278-1290.
    80. Feld, Lars P. & Schmidt, Christoph M. & Schnabel, Isabel & Truger, Achim & Wieland, Volker, 2019. "Den Strukturwandel meistern. Jahresgutachten 2019/20 [Dealing with Structural Change. Annual Report 2019/20]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201920.
    81. Claudio Borio, 2017. "Secular stagnation or financial cycle drag?," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 52(2), pages 87-98, April.
    82. Grishchenko, V. & Sinyakov, A., 2024. "Demography and equilibrium interest rates: Competing approaches and evidence from Russia," Journal of the New Economic Association, New Economic Association, vol. 62(1), pages 229-239.
    83. Claudio Borio, 2021. "Navigating by r*: safe or hazardous?," BIS Working Papers 982, Bank for International Settlements.
    84. Jorge E. Galán & Javier Mencía, 2021. "Model-based indicators for the identification of cyclical systemic risk," Empirical Economics, Springer, vol. 61(6), pages 3179-3211, December.

  15. Juselius, Mikael & Drehmann, Mathias, 2016. "Leverage dynamics and the burden of debt," Bank of Finland Research Discussion Papers 3/2016, Bank of Finland.

    Cited by:

    1. Narayan, Seema & Bui, Minh Ngoc Thi & Ren, Yishuai & Ma, Chaoqun, 2021. "Macroeconomic determinants of US corporate leverage," Economic Modelling, Elsevier, vol. 104(C).
    2. Yannis Dafermos & Maria Nikolaidi, 2021. "How can green differentiated capital requirements affect climate risks? A dynamic macrofinancial analysis," Working Papers PKWP2105, Post Keynesian Economics Society (PKES).
    3. Borio, Claudio & Drehmann, Mathias & Xia, Fan Dora, 2020. "Forecasting recessions: the importance of the financial cycle," Journal of Macroeconomics, Elsevier, vol. 66(C).
    4. Mathias Drehmann & James Yetman, 2020. "Which credit gap is better at predicting financial crises? A comparison of univariate filters," BIS Working Papers 878, Bank for International Settlements.
    5. Cengiz Tunc & Mustafa Kilinc, 2023. "Household Debt and Economic Growth: Debt Service Matters," Open Economies Review, Springer, vol. 34(1), pages 71-92, February.
    6. Frederic Boissay & Claudio Borio & Cristina Leonte & Ilhyock Shim, 2023. "Prudential policy and financial dominance: exploring the link," BIS Quarterly Review, Bank for International Settlements, March.

  16. Juselius, Mikael & Drehmann, Mathias, 2016. "Leverage dynamics and the burden of debt," Bank of Finland Research Discussion Papers 3/2016, Bank of Finland.

    Cited by:

    1. Narayan, Seema & Bui, Minh Ngoc Thi & Ren, Yishuai & Ma, Chaoqun, 2021. "Macroeconomic determinants of US corporate leverage," Economic Modelling, Elsevier, vol. 104(C).
    2. Yannis Dafermos & Maria Nikolaidi, 2021. "How can green differentiated capital requirements affect climate risks? A dynamic macrofinancial analysis," Working Papers PKWP2105, Post Keynesian Economics Society (PKES).
    3. Borio, Claudio & Drehmann, Mathias & Xia, Fan Dora, 2020. "Forecasting recessions: the importance of the financial cycle," Journal of Macroeconomics, Elsevier, vol. 66(C).
    4. Mathias Drehmann & James Yetman, 2020. "Which credit gap is better at predicting financial crises? A comparison of univariate filters," BIS Working Papers 878, Bank for International Settlements.
    5. Cengiz Tunc & Mustafa Kilinc, 2023. "Household Debt and Economic Growth: Debt Service Matters," Open Economies Review, Springer, vol. 34(1), pages 71-92, February.
    6. Frederic Boissay & Claudio Borio & Cristina Leonte & Ilhyock Shim, 2023. "Prudential policy and financial dominance: exploring the link," BIS Quarterly Review, Bank for International Settlements, March.

  17. Juselius, Mikael & Borio, Claudio & Disyatat, Piti & Drehmann, Mathias, 2016. "Monetary policy, the financial cycle and ultralow interest rates," Bank of Finland Research Discussion Papers 24/2016, Bank of Finland.

    Cited by:

    1. Gabriele Fiorentini & Alessandro Galesi & Gabriel Pérez-Quirós & Enrique Sentana, 2018. "The Rise and Fall of the Natural Interest Rate," Working Paper series 18-29, Rimini Centre for Economic Analysis.
    2. Beyer, Robert & Milivojevic, Lazar, 2021. "Dynamics and synchronization of global equilibrium interest rates," IMFS Working Paper Series 146, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    3. Bruno Albuquerque, 2019. "One Size Fits All? Monetary Policy and Asymmetric Household Debt Cycles in U.S. States," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(5), pages 1309-1353, August.
    4. Jorge E. Galán & Javier Mencía, 2018. "Empirical assessment of alternative structural methods for identifying cyclical systemic risk in Europe," Working Papers 1825, Banco de España.
    5. Joerg Bibow, 2020. " The General Theory as "Depression Economics"? Financial Instability and Crises in Keynes's Monetary Thought," Economics Working Paper Archive wp_974, Levy Economics Institute.
    6. William Chen & Gregory Phelan, 2020. "Should Monetary Policy Target Financial Stability?," Department of Economics Working Papers 2020-01, Department of Economics, Williams College.
    7. Bua, Giovanna & Trecroci, Carmine, 2016. "International Equity Markets Interdependence: Bigger Shocks or Contagion in the 21st Century?," MPRA Paper 74771, University Library of Munich, Germany.
    8. Piti Disyatat, 2019. "Comments on "The global impact of risk-off shocks"," BIS Papers chapters, in: Bank for International Settlements (ed.), Asia-Pacific fixed income markets: evolving structure, participation and pricing, volume 102, pages 25-28, Bank for International Settlements.
    9. Boris Hofmann & Gert Peersman, 2017. "Is there a debt service channel of monetary transmission?," BIS Quarterly Review, Bank for International Settlements, December.
    10. Krustev, Georgi, 2019. "The natural rate of interest and the financial cycle," Journal of Economic Behavior & Organization, Elsevier, vol. 162(C), pages 193-210.
    11. Łukasz Kurowski, 2021. "Financial cycle − A critical analysis of the methodology for its identification," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 10(3), pages 99-116.
    12. Maciej Stefański, 2023. "Natural Rate of Interest in a Small Open Economy with Application to CEE Countries," KAE Working Papers 2023-093, Warsaw School of Economics, Collegium of Economic Analysis.
    13. Christophe Blot & Paul Hubert & Fabien Labondance, 2017. "Does Monetary Policy generate Asset Price Bubbles?," Working Papers 2017-06, CRESE.
    14. Drehmann, Mathias & Juselius, Mikael & Korinek, Anton, 2017. "Accounting for debt service: The painful legacy of credit booms," Bank of Finland Research Discussion Papers 12/2017, Bank of Finland.
    15. Cecion, Martina & Coenen, Günter & Gerke, Rafael & Le Bihan, Hervé & Motto, Roberto & Aguilar, Pablo & Ajevskis, Viktors & Giesen, Sebastian & Albertazzi, Ugo & Gilbert, Niels & Al-Haschimi, Alexander, 2021. "The ECB’s price stability framework: past experience, and current and future challenges," Occasional Paper Series 269, European Central Bank.
    16. Isabel Cairó & Jae W. Sim, 2020. "Monetary Policy and Financial Stability," Finance and Economics Discussion Series 2020-101, Board of Governors of the Federal Reserve System (U.S.).
    17. Victor Pontines, 2016. "The Financial Cycles in Four East Asian Economies," Working Papers wp17, South East Asian Central Banks (SEACEN) Research and Training Centre.
    18. J. Boeckx & M. de Sola Perea & M. Deroose & G. de Walque & Th. Lejeune & Ch. Van Nieuwenhuyse, 2018. "What will happen when interest rates go up?," Economic Review, National Bank of Belgium, issue iii, pages 35-56, september.
    19. Bean, Charles, 2018. "Central banking after the great recession," LSE Research Online Documents on Economics 87444, London School of Economics and Political Science, LSE Library.
    20. Angrick, Stefan & Nemoto, Naoko, 2017. "Central Banking below Zero: The Implementation of Negative Interest Rate Policies in Europe and Japan," ADBI Working Papers 740, Asian Development Bank Institute.
    21. Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2022. "Why So Low for So Long? A Long-Term View of Real Interest Rates," International Journal of Central Banking, International Journal of Central Banking, vol. 18(3), pages 47-87, September.
    22. Luca Agnello & Vítor Castro & Ricardo M. Sousa, 2023. "Interest rate gaps in an uncertain global context: why “too” low (high) for “so” long?," Empirical Economics, Springer, vol. 64(2), pages 539-565, February.
    23. Jeerawadee Pumjaroen & Preecha Vichitthamaros & Yuthana Sethapramote, 2020. "Forecasting Economic Cycle with a Structural Equation Model: Evidence from Thailand," International Journal of Economics and Financial Issues, Econjournals, vol. 10(3), pages 47-57.
    24. Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2018. "Monetary policy in the grip of a pincer movement," BIS Working Papers 706, Bank for International Settlements.
    25. Belke, Ansgar & Klose, Jens, 2020. "Equilibrium real interest rates and the financial cycle: Empirical evidence for Euro area member countries," Economic Modelling, Elsevier, vol. 84(C), pages 357-366.
    26. Amat Adarov, 2018. "Financial Cycles Around the World," wiiw Working Papers 145, The Vienna Institute for International Economic Studies, wiiw.
    27. Mandler, Martin & Scharnagl, Michael, 2019. "Financial cycles across G7 economies: A view from wavelet analysis," Discussion Papers 22/2019, Deutsche Bundesbank.
    28. Strohsal, Till & Proaño Acosta, Christian & Wolters, Jürgen, 2015. "Characterizing the financial cycle: Evidence from a frequency domain analysis," SFB 649 Discussion Papers 2015-021, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    29. Andrew Filardo & Marco Jacopo Lombardi & Marek Raczko, 2018. "Measuring financial cycle time," BIS Working Papers 755, Bank for International Settlements.
    30. Svensson, Lars E.O., 2017. "Cost-benefit analysis of leaning against the wind," Journal of Monetary Economics, Elsevier, vol. 90(C), pages 193-213.
    31. Marcin Bielecki & Michał Brzoza‐Brzezina & Marcin Kolasa & Krzysztof Makarski, 2019. "Could the Boom‐Bust in the Eurozone Periphery Have Been Prevented?," Journal of Common Market Studies, Wiley Blackwell, vol. 57(2), pages 336-352, March.
    32. Lee, Dong Jin & Hahm, Joon-Ho & Park, Hail & Park, Ki Young, 2020. "Measuring the Natural Rate of Interest with Financial Gaps: The Cases of Japan and South Korea," Japan and the World Economy, Elsevier, vol. 54(C).
    33. Ansgar Belke & Jens Klose, 2018. "Equilibrium Real Interest Rates, Secular Stagnation, and the Financial Cycle: Empirical Evidence for Euro-Area Member Countries," ROME Working Papers 201801, ROME Network.
    34. Beirne, John, 2019. "Financial Cycles in Asset Markets and Regions," ADBI Working Papers 1052, Asian Development Bank Institute.
    35. Adam Cagliarini & Fiona Price, 2017. "Exploring the Link between the Macroeconomic and Financial Cycles," RBA Annual Conference Volume (Discontinued), in: Jonathan Hambur & John Simon (ed.),Monetary Policy and Financial Stability in a World of Low Interest Rates, Reserve Bank of Australia.
    36. Klose, Jens, 2020. "Equilibrium real interest rates for the BRICS countries," The Journal of Economic Asymmetries, Elsevier, vol. 21(C).
    37. Qiuyi Yang & Youze Lang & Changsheng Xu, 2018. "Is the High Interest Rate Combined with Intense Deleveraging Campaign Desirable? A Collateral Mechanism under Stringent Credit Constraints," Sustainability, MDPI, vol. 10(12), pages 1-22, December.
    38. Jorge E. Galán, 2019. "Measuring credit-to-gdp gaps. The hodrick-prescott filter revisited," Occasional Papers 1906, Banco de España.
    39. François Gourio & Anil K. Kashyap & Jae W. Sim, 2017. "The Tradeoffs in Leaning Against the Wind," Working Paper Series WP-2017-21, Federal Reserve Bank of Chicago.
    40. Yildirim, Zekeriya, 2022. "Global financial risk, the risk-taking channel, and monetary policy in emerging markets," Economic Modelling, Elsevier, vol. 116(C).
    41. van Riet Ad, 2019. "Monetary Policy and Unnatural Low Interest Rates: Secular Stagnation or Financial Repression?," Review of Economics, De Gruyter, vol. 70(2), pages 99-135, August.
    42. Agnello, Luca & Castro, Vítor & Sousa, Ricardo M., 2022. "On the international co-movement of natural interest rates," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 80(C).
    43. Sascha Buetzer, 2022. "Advancing the Monetary Policy Toolkit through Outright Transfers," IMF Working Papers 2022/087, International Monetary Fund.
    44. Holston, Kathryn & Laubach, Thomas & Williams, John C., 2017. "Measuring the natural rate of interest: International trends and determinants," Journal of International Economics, Elsevier, vol. 108(S1), pages 59-75.
    45. Mariarosaria Comunale & Jonas Striaukas, 2017. "Unconventional Monetary Policy: Interest Rates and Low Inflation. A Review of Literature and Methods," Bank of Lithuania Occasional Paper Series 13, Bank of Lithuania.
    46. Mathias Drehmann & Mikael Juselius & Anton Korinek, 2018. "Going With the Flows: New Borrowing, Debt Service and the Transmission of Credit Booms," NBER Working Papers 24549, National Bureau of Economic Research, Inc.
    47. Kang, Kyu Ho & Do, Kyeongtak, 2024. "Korea’s neutral interest rate: Estimates, determinants, and monetary policy stance," Journal of Asian Economics, Elsevier, vol. 92(C).
    48. Fiedler, Salomon & Gern, Klaus-Jürgen & Jannsen, Nils & Wolters, Maik H., 2019. "Growth prospects, the natural interest rate, and monetary policy," Economics Discussion Papers 2019-17, Kiel Institute for the World Economy (IfW Kiel).
    49. Claudio Borio & Piti Disyatat & Phurichai Rungcharoenkitkul, 2019. "What anchors for the natural rate of interest?," BIS Working Papers 777, Bank for International Settlements.
    50. William Chen & Gregory Phelan, 2022. "Online Appendix to Should Monetary Policy Target Financial Stability"," Online Appendices 21-244, Review of Economic Dynamics.
    51. Mr. Yan Carriere-Swallow & Mr. Luis Ignacio Jácome & Mr. Nicolas E Magud & Alejandro M. Werner, 2016. "Central Banking in Latin America: The Way Forward," IMF Working Papers 2016/197, International Monetary Fund.
    52. Warapong Wongwachara & Bovonvich Jindarak & Nuwat Nookhwun & Sophon Tunyavetchakit & Chutipha Klungjaturavet, 2018. "Integrating Monetary Policy and Financial Stability: A New Framework," PIER Discussion Papers 100, Puey Ungphakorn Institute for Economic Research.
    53. Cabral, Inês & Detken, Carsten & Fell, John & Henry, Jérôme & Hiebert, Paul & Kapadia, Sujit & Pires, Fatima & Salleo, Carmelo & Constâncio, Vítor & Nicoletti Altimari, Sergio, 2019. "Macroprudential policy at the ECB: Institutional framework, strategy, analytical tools and policies," Occasional Paper Series 227, European Central Bank.
    54. Piti Disyatat, 2017. "Discussion of Exploring the Link between the Macroeconomic and Financial Cycles," RBA Annual Conference Volume (Discontinued), in: Jonathan Hambur & John Simon (ed.),Monetary Policy and Financial Stability in a World of Low Interest Rates, Reserve Bank of Australia.
    55. Schularick, Moritz & ter Steege, Lucas & Ward, Felix, 2020. "Leaning against the wind and crisis risk," CEPR Discussion Papers 14797, C.E.P.R. Discussion Papers.
    56. Dilian Vassilev, 2020. "Secular stagnation – the origin of the concept, a review of the scientific literature and the nature of the academic debate," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 137-158.
    57. Alex Ilek & Nimrod Cohen, 2023. "Semi-Structural Model with Household Debt for Israel," Bank of Israel Working Papers 2023.03, Bank of Israel.
    58. Claudio Borio, 2024. "Whither inflation targeting as a global monetary standard?," BIS Working Papers 1230, Bank for International Settlements.
    59. Svensson, Lars E.O., 2017. "Leaning Against the Wind: Costs and Benefits, Effects on Debt, Leaning in DSGE Models, and a Framework for Comparison of Result," CEPR Discussion Papers 12226, C.E.P.R. Discussion Papers.
    60. Joscha Beckmann & Klaus-Jürgen Gern & Nils Jannsen, 2022. "Should they stay or should they go? Negative interest rate policies under review," International Economics and Economic Policy, Springer, vol. 19(4), pages 885-912, October.
    61. Solikin M. Juhro & Bernard Njindan Iyke & Paresh Kumar Narayan, 2021. "Capital Flow Dynamics And The Synchronization Of Financial Cycles And Business Cycles In Emerging Market Economies," Working Papers WP/02/2021, Bank Indonesia.
    62. Martin Mandler & Michael Scharnagl, 2022. "Financial Cycles in Euro Area Economies: A Cross‐Country Perspective Using Wavelet Analysis," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 84(3), pages 569-593, June.
    63. Christophe Blot & Paul Hubert & Fabien Labondance, 2020. "The asymmetric effects of monetary policy on stock price bubbles," Documents de Travail de l'OFCE 2020-12, Observatoire Francais des Conjonctures Economiques (OFCE).
    64. Ben-Haim, Yakov & Demertzis, Maria & Van den End, Jan Willem, 2018. "Evaluating monetary policy rules under fundamental uncertainty: An info-gap approach," Economic Modelling, Elsevier, vol. 73(C), pages 55-70.
    65. Martin Nordström, 2020. "A forecast evaluation of the Riksbank's policy‐rate projections," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 49(3), September.
    66. Zhang, Ren & Martínez-García, Enrique & Wynne, Mark A. & Grossman, Valerie, 2021. "Ties that bind: Estimating the natural rate of interest for small open economies," Journal of International Money and Finance, Elsevier, vol. 113(C).
    67. Brand, Claus & Bielecki, Marcin & Penalver, Adrian, 2018. "The natural rate of interest: estimates, drivers, and challenges to monetary policy JEL Classification: E52, E43," Occasional Paper Series 217, European Central Bank.
    68. Enisse Kharroubi & Emanuel Kohlscheen, 2017. "Consumption-led expansions," BIS Quarterly Review, Bank for International Settlements, March.
    69. Giorgio Massari & Luca Portoghese & Patrizio Tirelli, 2024. "Whither Liquidity Shocks? Implications for R∗ and Monetary Policy," DEM Working Papers Series 217, University of Pavia, Department of Economics and Management.
    70. Andrey Sinyakov & Alexey Porshakov, 2019. "Estimates of the Natural Rate of Interest for Russia: Is 'Navigating by the Stars' Useful?," Russian Journal of Money and Finance, Bank of Russia, vol. 78(4), pages 3-47, December.
    71. Hodula Martin & Pfeifer Lukáš, 2018. "Fiscal-Monetary-Financial Stability Interactions in a Data-Rich Environment," Review of Economic Perspectives, Sciendo, vol. 18(3), pages 195-224, September.
    72. Kerry Liu, 2020. "Hong Kong: Inevitably irrelevant to China?," Economic Affairs, Wiley Blackwell, vol. 40(1), pages 2-23, February.
    73. Kevin Clinton & Mr. R. S Craig & Mr. Douglas Laxton & Hou Wang, 2019. "Strengthening the Monetary Policy Framework in Korea," IMF Working Papers 2019/103, International Monetary Fund.
    74. van Wijnbergen, Sweder, 2018. "Real interest rates, exchange rates and the ZLB: on Secular Stagnation," CEPR Discussion Papers 12837, C.E.P.R. Discussion Papers.
    75. Costas Karfakis & Eftychia Karfaki, 2018. "Is the financial cycle a leading indicator of real output during expansions and contractions? A quantile analysis for Greece," Discussion Paper Series 2018_02, Department of Economics, University of Macedonia, revised Feb 2018.
    76. Phurichai Rungcharoenkitkul & Claudio Borio & Piti Disyatat Author-X-Name_First: Piti, 2019. "Monetary policy hysteresis and the financial cycle," BIS Working Papers 817, Bank for International Settlements.
    77. Zacek, Jan, 2020. "Should monetary policy lean against the wind? Simulations based on a DSGE model with an occasionally binding credit constraint," Economic Modelling, Elsevier, vol. 88(C), pages 293-311.
    78. Stefano Neri & Giuseppe Ferrero, 2017. "Monetary policy in a low interest rate environment," Questioni di Economia e Finanza (Occasional Papers) 392, Bank of Italy, Economic Research and International Relations Area.
    79. Malgorzata Porada - Rochon, 2020. "The Length of Financial Cycle and its Impact on Business Cycle in Poland," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 1278-1290.
    80. Feld, Lars P. & Schmidt, Christoph M. & Schnabel, Isabel & Truger, Achim & Wieland, Volker, 2019. "Den Strukturwandel meistern. Jahresgutachten 2019/20 [Dealing with Structural Change. Annual Report 2019/20]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201920.
    81. Claudio Borio, 2017. "Secular stagnation or financial cycle drag?," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 52(2), pages 87-98, April.
    82. Grishchenko, V. & Sinyakov, A., 2024. "Demography and equilibrium interest rates: Competing approaches and evidence from Russia," Journal of the New Economic Association, New Economic Association, vol. 62(1), pages 229-239.
    83. Claudio Borio, 2021. "Navigating by r*: safe or hazardous?," BIS Working Papers 982, Bank for International Settlements.
    84. Jorge E. Galán & Javier Mencía, 2021. "Model-based indicators for the identification of cyclical systemic risk," Empirical Economics, Springer, vol. 61(6), pages 3179-3211, December.

  18. Juselius, Mikael & Takáts, Előd, 2016. "The age-structure–inflation puzzle," Bank of Finland Research Discussion Papers 4/2016, Bank of Finland.

    Cited by:

    1. Apeti, Ablam Estel & Combes, Jean-Louis & Minea, Alexandru, 2024. "Inflation targeting and fiscal policy volatility: Evidence from developing countries," Journal of International Money and Finance, Elsevier, vol. 141(C).
    2. Ablam Estel Apeti & Jean-Louis Combes & Alexandru Minea, 2023. "Inflation targeting and the composition of public expenditure: Evidence from developing countries," Post-Print hal-04072840, HAL.
    3. Song, Wei & Yang, Yibai, 2024. "Monetary policy in a Schumpeterian economy with endogenous fertility and human capital accumulation," Journal of Macroeconomics, Elsevier, vol. 80(C).

  19. Mikael Juselius & Mathias Drehmann, 2015. "Leverage dynamics and the real burden of debt," BIS Working Papers 501, Bank for International Settlements.

    Cited by:

    1. Mikael Juselius & Claudio Borio & Piti Disyatat & Mathias Drehmann, 2017. "Monetary Policy, the Financial Cycle, and Ultra-Low Interest Rates," International Journal of Central Banking, International Journal of Central Banking, vol. 13(3), pages 55-89, September.
    2. Lukas Pfeifer, 2021. "Usability of capital buffers under a binding leverage ratio requirement," Occasional Publications - Chapters in Edited Volumes,, Czech National Bank.
    3. Claudio Borio & Mathias Drehmann & Dora Xia, 2018. "The financial cycle and recession risk," BIS Quarterly Review, Bank for International Settlements, December.
    4. Ajid ur Rehman & Man Wang & Sultan Sikandar Mirza, 2017. "How do Chinese firms adjust their financial leverage: an empirical investigation using multiple GMM models," China Finance and Economic Review, Springer, vol. 5(1), pages 1-30, December.
    5. Boris Hofmann & Gert Peersman, 2017. "Is there a debt service channel of monetary transmission?," BIS Quarterly Review, Bank for International Settlements, December.
    6. Drehmann, Mathias & Juselius, Mikael & Korinek, Anton, 2017. "Accounting for debt service: The painful legacy of credit booms," Bank of Finland Research Discussion Papers 12/2017, Bank of Finland.
    7. Guonan Ma & James Laurenceson, 2019. "China’S Debt Challenge: Stylized Facts, Drivers And Policy Implications," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 64(04), pages 815-837, September.
    8. Michael Funke & Rongrong Sun & Linxu Zhu, 2018. "The Credit Risk of Chinese Households – A Micro-Level Assessment," CFDS Discussion Paper Series 2018/3, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.
    9. Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2018. "Monetary policy in the grip of a pincer movement," BIS Working Papers 706, Bank for International Settlements.
    10. Stijn Claessens & M Ayhan Kose, 2018. "Frontiers of macrofinancial linkages," BIS Papers, Bank for International Settlements, number 95.
    11. Marco J. Lombardi & Madhusudan Mohanty & Ilhyock Shim, 2022. "The relationship of household debt and growth in the short and long run," Empirical Economics, Springer, vol. 63(4), pages 1887-1911, October.
    12. Bezemer, Dirk & Zhang, Lu, 2019. "Credit composition and the severity of post-crisis recessions," Journal of Financial Stability, Elsevier, vol. 42(C), pages 52-66.
    13. Marco Jacopo Lombardi & Madhusudan Mohanty & Ilhyock Shim, 2017. "The real effects of household debt in the short and long run," BIS Working Papers 607, Bank for International Settlements.
    14. Mathias Drehmann & Mikael Juselius & Anton Korinek, 2018. "Going With the Flows: New Borrowing, Debt Service and the Transmission of Credit Booms," NBER Working Papers 24549, National Bureau of Economic Research, Inc.
    15. Dunz, Nepomuk & Naqvi, Asjad & Monasterolo, Irene, 2021. "Climate sentiments, transition risk, and financial stability in a stock-flow consistent model," Journal of Financial Stability, Elsevier, vol. 54(C).
    16. Patrik Kupkovic & Martin Suster, 2020. "Identifying the Financial Cycle in Slovakia," Working and Discussion Papers WP 2/2020, Research Department, National Bank of Slovakia.
    17. Ikonen, Pasi, 2017. "Financial depth, debt, and growth," Bank of Finland Scientific Monographs, Bank of Finland, volume 0, number e51, March.
    18. Claudio Borio & Boris Hofmann, 2017. "Is monetary policy less effective when interest rates are persistently low?," BIS Working Papers 628, Bank for International Settlements.
    19. Claudio Borio & Piti Disyatat & Phurichai Rungcharoenkitkul, 2019. "What anchors for the natural rate of interest?," BIS Working Papers 777, Bank for International Settlements.
    20. Piti Disyatat, 2017. "Discussion of Exploring the Link between the Macroeconomic and Financial Cycles," RBA Annual Conference Volume (Discontinued), in: Jonathan Hambur & John Simon (ed.),Monetary Policy and Financial Stability in a World of Low Interest Rates, Reserve Bank of Australia.
    21. Lorenzo Esposito & Giuseppe Mastromatteo, 2019. "Defaultnomics: Making Sense of the Barro-Ricardo Equivalence in a Financialized World," Economics Working Paper Archive wp_933, Levy Economics Institute.
    22. Iñaki Aldasoro & Stefan Avdjiev & Claudio Borio & Piti Disyatat, 2023. "Global and Domestic Financial Cycles: Variations on a Theme," International Journal of Central Banking, International Journal of Central Banking, vol. 19(5), pages 49-98, December.
    23. Claudio Borio, 2016. "Revisiting Three Intellectual Pillars of Monetary Policy," Cato Journal, Cato Journal, Cato Institute, vol. 36(2), pages 213-238, Spring/Su.
    24. Lukas Pfeifer & Libor Holub & Zdenek Pikhart & Martin Hodula, 2016. "The Role of the Leverage Ratio in Capital Regulation of the Banking Sector," Occasional Publications - Chapters in Edited Volumes, in: CNB Financial Stability Report 2015/2016, chapter 0, pages 137-148, Czech National Bank.
    25. Jasper de Winter & Siem Jan Koopman & Irma Hindrayanto, 2022. "Joint Decomposition of Business and Financial Cycles: Evidence from Eight Advanced Economies," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 84(1), pages 57-79, February.
    26. Lang, Jan Hannes & Welz, Peter, 2018. "Semi-structural credit gap estimation," Working Paper Series 2194, European Central Bank.
    27. Jouchi Nakajima, 2018. "The role of household debt heterogeneity on consumption: Evidence from Japanese household data," BIS Working Papers 736, Bank for International Settlements.
    28. Zhang, Dongyang & Guo, Rui, 2020. "The consumption response to household leverage in China: The role of investment at household level," International Review of Financial Analysis, Elsevier, vol. 71(C).
    29. Anna Burova, 2020. "Measuring the Debt Service Ratio in Russia: micro-level data approach," Bank of Russia Working Paper Series wps55, Bank of Russia.
    30. I. Balyuk & И. Балюк А., 2018. "Проблема внешнего долга и мировая финансовая архитектура // External Debt Problem and Global Financial Architecture," Review of Business and Economics Studies // Review of Business and Economics Studies, Финансовый Университет // Financial University, vol. 6(4), pages 18-29.
    31. Dunz, Nepomuk & Naqvi, Asjad & Monasterolo, Irene, 2019. "Climate Transition Risk, Climate Sentiments, and Financial Stability in a Stock-Flow Consistent approach," Ecological Economic Papers 23, WU Vienna University of Economics and Business.
    32. Bank for International Settlements, 2015. "Introduction to BIS statistics," BIS Quarterly Review, Bank for International Settlements, September.
    33. Lukas Pfeiffer & Libor Holub & Zdenek Pithart & Martin Hodula, 2017. "Leverage Ratio and its Impact on the Resilience of the Banking Sector and Efficiency of Macroprudential Policy," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 67(4), pages 277-299, August.
    34. Michael Richter, 2017. "Asymmetric Effects on Financial Cycles in a Monetary Union with Diverging Country Preferences for Variable- and Fixed-Rate Mortgages," Review of Economics & Finance, Better Advances Press, Canada, vol. 7, pages 19-36, February.
    35. Phurichai Rungcharoenkitkul & Claudio Borio & Piti Disyatat Author-X-Name_First: Piti, 2019. "Monetary policy hysteresis and the financial cycle," BIS Working Papers 817, Bank for International Settlements.
    36. David Aikman & Andreas Lehnert & J. Nellie Liang & Michele Modugno, 2016. "Financial Vulnerabilities, Macroeconomic Dynamics, and Monetary Policy," Finance and Economics Discussion Series 2016-055, Board of Governors of the Federal Reserve System (U.S.).
    37. O'Brien, Martin & Velasco, Sofia, 2020. "Unobserved components models with stochastic volatility for extracting trends and cycles in credit," Research Technical Papers 09/RT/20, Central Bank of Ireland.
    38. Magnus Saß, 2024. "Detecting excessive credit growth: An approach based on structural counterfactuals," Berlin School of Economics Discussion Papers 0046, Berlin School of Economics.
    39. Lukas Pfeifer & Martin Hodula & Libor Holub & Zdenek Pikhart, 2018. "The Leverage Ratio and Its Impact on Capital Regulation," Working Papers 2018/15, Czech National Bank.

  20. Mikael Juselius & Elod Takats, 2015. "Can demography affect inflation and monetary policy?," BIS Working Papers 485, Bank for International Settlements.

    Cited by:

    1. Santiago García-Verdú & Manuel Ramos-Francia, 2016. "On the costs of deflation: a consumption-based approach," BIS Papers chapters, in: Bank for International Settlements (ed.), Inflation mechanisms, expectations and monetary policy, volume 89, pages 247-273, Bank for International Settlements.
    2. Carlos Carvalho & Andrea Ferrero & Fernanda Nechio, 2016. "Demographics and real interest rates: inspecting the mechanism," Working Paper Series 2016-5, Federal Reserve Bank of San Francisco.
    3. Shigeru Fujita & Ippei Fujiwara, 2016. "Declining Trends In The Real Interest Rate And Inflation: The Role Of Aging," Working Papers 16-29, Federal Reserve Bank of Philadelphia.
    4. Marcin Bielecki & Michał Brzoza-Brzezina & Marcin Kolasa, 2018. "Demographics, monetary policy, and the zero lower bound," NBP Working Papers 284, Narodowy Bank Polski.
    5. Nickel, Christiane & Bobeica, Elena & Lis, Eliza & Sun, Yiqiao, 2017. "Demographics and inflation," Working Paper Series 2006, European Central Bank.
    6. Joseph Kopecky, 2021. "Okay Boomer... Excess Money Growth, Inflation, and Population Aging," Trinity Economics Papers tep0721, Trinity College Dublin, Department of Economics, revised Oct 2021.
    7. Jaehyeok Kim & Minwoo Jang & Donghyun Shin, 2019. "Examining the Role of Population Age Structure upon Residential Electricity Demand: A Case from Korea," Sustainability, MDPI, vol. 11(14), pages 1-19, July.
    8. Paula C. A. M. de Albuquerque & Jorge Caiado & Andreia Pereira, 2020. "Population aging and inflation: evidence from panel cointegration," Journal of Applied Economics, Taylor & Francis Journals, vol. 23(1), pages 469-484, January.
    9. Ciccarelli, Matteo & Osbat, Chiara, 2017. "Low inflation in the euro area: Causes and consequences," Occasional Paper Series 181, European Central Bank.
    10. Tomoki Isa, 2021. "Demographic Effects on Prices: Is Aging Deflationary?," Discussion papers ron342, Policy Research Institute, Ministry of Finance Japan.
    11. Daniel Simons & Rosmy Jean Louis, 2018. "Monetary union in West Africa and business cycles synchronicity: New evidence," The World Economy, Wiley Blackwell, vol. 41(10), pages 2828-2848, October.
    12. Kenichi Sakura, 2020. "Comments on "Can an ageing workforce explain low inflation?"," BIS Papers chapters, in: Bank for International Settlements (ed.), Inflation dynamics in Asia and the Pacific, volume 111, pages 81-84, Bank for International Settlements.
    13. Mr. Niklas J Westelius & Yihan Liu, 2016. "The Impact of Demographics on Productivity and Inflation in Japan," IMF Working Papers 2016/237, International Monetary Fund.
    14. Juan Carlos Berganza & Pedro del Río & Fructuoso Borrallo, 2016. "Determinants and implications of low global inflation rates," Occasional Papers 1608, Banco de España.
    15. Giuseppe Ferrero & Marco Gross & Stefano Neri, 2019. "On secular stagnation and low interest rates: Demography matters," International Finance, Wiley Blackwell, vol. 22(3), pages 262-278, December.
    16. Hideki Konishi & Kozo Ueda, 2013. "Aging and Deflation from a Fiscal Perspective," IMES Discussion Paper Series 13-E-13, Institute for Monetary and Economic Studies, Bank of Japan.
    17. Fedotenkov, Igor, 2018. "Population ageing and inflation with endogenous money creation," Research in Economics, Elsevier, vol. 72(3), pages 392-403.
    18. Goh, Soo Khoon & McNown, Robert & Wong, Koi Nyen, 2020. "Macroeconomic implications of population aging: Evidence from Japan," Journal of Asian Economics, Elsevier, vol. 68(C).
    19. Biswajit Maitra, 2016. "Inflation Dynamics in India: Relative Role of Structural and Monetary Factors," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 14(2), pages 237-255, December.
    20. Carlo A. Favero & Arie E. Gozluklu & Haoxi Yang, 2016. "Demographics and the Behavior of Interest Rates," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 64(4), pages 732-776, November.
    21. Marcin Bielecki & Michał Brzoza-Brzezina & Marcin Kolasa, 2021. "Aging, migration and monetary policy in Poland," NBP Working Papers 341, Narodowy Bank Polski.
    22. Darya Antonova & Yulia Vymyatnina, 2018. "Inflation and Population Age Structure: The Case of Emerging Economies," Russian Journal of Money and Finance, Bank of Russia, vol. 77(4), pages 3-25, December.
    23. Philipp F. M. Baumann & Enzo Rossi & Alexander Volkmann, 2020. "What Drives Inflation and How: Evidence from Additive Mixed Models Selected by cAIC," Papers 2006.06274, arXiv.org, revised Aug 2022.
    24. Gozluklu, Arie & Morin, Annaïg, 2019. "Stock vs. Bond yields and demographic fluctuations," Journal of Banking & Finance, Elsevier, vol. 109(C).
    25. Song, Wei & Yang, Yibai, 2024. "Monetary policy in a Schumpeterian economy with endogenous fertility and human capital accumulation," Journal of Macroeconomics, Elsevier, vol. 80(C).
    26. Juselius, Mikael & Takáts, Előd, 2021. "Inflation and demography through time," Journal of Economic Dynamics and Control, Elsevier, vol. 128(C).
    27. Juselius, Mikael & Takáts, Előd, 2018. "The enduring link between demography and inflation," Bank of Finland Research Discussion Papers 8/2018, Bank of Finland.
    28. Janet L. Yellen, 2017. "Inflation, uncertainty, and monetary policy," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 52(4), pages 194-207, October.
    29. Pohnpattanapaisankul, Kumpon, 2019. "The Impact of Demographics on Inflation in Thailand," Asian Journal of Applied Economics, Kasetsart University, Center for Applied Economics Research, vol. 26(2), December.
    30. Ha-Hyun Jo & Minwoo Jang & Jaehyeok Kim, 2020. "How Population Age Distribution Affects Future Electricity Demand in Korea: Applying Population Polynomial Function," Energies, MDPI, vol. 13(20), pages 1-17, October.
    31. Zongwu Cai & Jiazi Chen & Linlin Niu, 2021. "A Semiparametric Model for Bond Pricing with Life Cycle Fundamental," Working Papers 2021-01-06, Wang Yanan Institute for Studies in Economics (WISE), Xiamen University.
    32. Mateo Zokalj, 2016. "The impact of population aging on public finance in the European Union," Financial Theory and Practice, Institute of Public Finance, vol. 40(4), pages 383-412.
    33. Barbiellini Amidei, Federico & Gomellini, Matteo & Piselli, Paolo, 2019. "The price of demography," MPRA Paper 94435, University Library of Munich, Germany.
    34. Fedotenkov, Igor, 2015. "Population ageing and prices in an OLG model with money created by credits," MPRA Paper 66056, University Library of Munich, Germany.
    35. Vymyatnina, Yulia V. (Вымятнина, Юлия В.) & Grishchenko, Vadim O. (Грищенко, Вадим О.) & Ostapenko, Vsevolod M. (Остапенко, Всеволод М.) & Ryazanov, Viktor T. (Рязанов, Виктор Т.), 2018. "Financial Instability and Economic Crises: Lessons from Minsky [Финансовая Нестабильность И Экономические Кризисы: Уроки Мински]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 4, pages 20-41, August.
    36. Zongwu Cai & Jiazi Chen & Linlin Liu, 2021. "Estimating Impact of Age Distribution on Bond Pricing: A Semiparametric Functional Data Analysis Approach," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 202102, University of Kansas, Department of Economics, revised Jan 2021.
    37. M. Deroose & A. Stevens, 2017. "Low inflation in the euro area : Causes and consequences," Economic Review, National Bank of Belgium, issue i, pages 111-125, June.
    38. Ha,Jongrim & Ivanova,Anna & Ohnsorge,Franziska Lieselotte & Unsal Portillo Ocando,Derya Filiz, 2019. "Inflation : Concepts, Evolution, and Correlates," Policy Research Working Paper Series 8738, The World Bank.
    39. Martin Feldkircher & Pierre L. Siklos, 2018. "Global inflation dynamics and inflation expectations," CAMA Working Papers 2018-60, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    40. Miriam Koomen & Laurence Wicht, 2020. "Demographics, pension systems, and the current account: an empirical assessment using the IMF current account model," Working Papers 2020-23, Swiss National Bank.
    41. Rai, Karan & Garg, Bhavesh, 2024. "Demographic transition and inflation," Economic Systems, Elsevier, vol. 48(4).

  21. Claudio Borio & Piti Disyatat & Mikael Juselius, 2014. "A parsimonious approach to incorporating economic information in measures of potential output," BIS Working Papers 442, Bank for International Settlements.

    Cited by:

    1. Couaillier, Cyril & Scalone, Valerio, 2024. "Risk-to buffer: setting cyclical and structural banks capital requirements through stress test," Working Paper Series 2966, European Central Bank.
    2. Berger, Tino & Richter, Julia & Wong, Benjamin, 2021. "A unified approach for jointly estimating the business and financial cycle, and the role of financial factors," University of Göttingen Working Papers in Economics 415, University of Goettingen, Department of Economics.
    3. R. Barrell & D. Karim & C. Macchiarelli, 2020. "Towards an understanding of credit cycles: do all credit booms cause crises?," The European Journal of Finance, Taylor & Francis Journals, vol. 26(10), pages 978-993, July.
    4. Constantinescu, Mihnea & Nguyen, Anh Dinh Minh, 2021. "A century of gaps: Untangling business cycles from secular trends," Economic Modelling, Elsevier, vol. 100(C).
    5. Grintzalis, Ioannis & Lodge, David & Manu, Ana-Simona, 2017. "The implications of global and domestic credit cycles for emerging market economies: measures of finance-adjusted output gaps," Working Paper Series 2034, European Central Bank.
    6. Guido Bulligan & Lorenzo Burlon & Davide Delle Monache & Andrea Silvestrini, 2017. "Real and financial cycles: estimates using unobserved component models for the Italian economy," Questioni di Economia e Finanza (Occasional Papers) 382, Bank of Italy, Economic Research and International Relations Area.
    7. Amador-Torres, Juan & Gómez González, Jose & Ojeda-Joya, Jair & Jaulin-Mendez, Oscar & Tenjo-Galarza, Fernando, 2015. "Mind the Gap: Computing Finance-Neutral Output Gaps in Latin-American Economies," MPRA Paper 66288, University Library of Munich, Germany.
    8. Amat Adarov, 2019. "Financial Cycles in Europe: Dynamics, Synchronicity and Implications for Business Cycles and Macroeconomic Imbalances," wiiw Working Papers 166, The Vienna Institute for International Economic Studies, wiiw.
    9. Mihnea Constantinescu & Anh Dinh Minh Nguyen, 2017. "Unemployment or Credit: Who Holds The Potential? Results From a Small-Open Economy," Bank of Lithuania Discussion Paper Series 4, Bank of Lithuania.
    10. Vashchelyuk, N.V. (Ващелюк, Н.В.) & Zubarev, Andrey (Зубарев, Андрей) & Trunin, Pavel (Трунин, Павел), 2016. "Determination of the Output Gap for the Russian Economy [Определение Разрыва Выпуска Для Российской Экономики]," Working Papers 2137, Russian Presidential Academy of National Economy and Public Administration.
    11. Johannes W. Fedderke, 2022. "Identifying steady‐state growth and inflation in the South African economy, 1960–2020," South African Journal of Economics, Economic Society of South Africa, vol. 90(3), pages 279-300, September.
    12. Amador-Torres, J. Sebastián, 2017. "Finance-neutral potential output: An evaluation in an emerging market monetary policy context," Economic Systems, Elsevier, vol. 41(3), pages 389-407.
    13. Pierre Aldama & Jérôme Creel, 2016. "Why fiscal regimes matter for fiscal sustainability analysis: an application to France," Working Papers hal-03459336, HAL.
    14. Guillochon, Justine & Le Roux, Julien, 2023. "Unobserved components model(s): output gaps and financial cycles," Working Paper Series 2832, European Central Bank.
    15. Enrique Alberola & Rocio Gondo & Marco Lombardi & Diego Urbina, 2017. "Output gaps and stabilisation policies in Latin America: The effect of commodity and capital flow cycles," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 35(82), pages 40-52, April.
    16. Schleer, Frauke & Kappler, Marcus, 2014. "The Phillips Curve: (In)stability, the role of credit, and implications for potential output measurement," ZEW Discussion Papers 14-067, ZEW - Leibniz Centre for European Economic Research.
    17. Gabor Katay & Lisa Kerdelhué & Matthieu Lequien, 2020. "Semi-Structural VAR and Unobserved Components Models to Estimate Finance-Neutral Output Gap," JRC Working Papers in Economics and Finance 2020-11, Joint Research Centre, European Commission.
    18. Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2022. "Why So Low for So Long? A Long-Term View of Real Interest Rates," International Journal of Central Banking, International Journal of Central Banking, vol. 18(3), pages 47-87, September.
    19. Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2018. "La política monetaria cercada por un movimiento de pinzas," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 21(2), pages 004-044, August.
    20. Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2018. "Monetary policy in the grip of a pincer movement," BIS Working Papers 706, Bank for International Settlements.
    21. Amat Adarov, 2018. "Financial Cycles Around the World," wiiw Working Papers 145, The Vienna Institute for International Economic Studies, wiiw.
    22. Amat Adarov, 2019. "Dynamic Interactions Between Financial and Macroeconomic Imbalances: A Panel VAR Analysis," wiiw Working Papers 162, The Vienna Institute for International Economic Studies, wiiw.
    23. Mellár, Tamás & Németh, Kristóf, 2018. "A kibocsátási rés becslése többváltozós állapottérmodellekben. Szuperhiszterézis és további empirikus eredmények [Estimating output gap in multivariate state space models. Super-hysteresis and furt," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(6), pages 557-591.
    24. International Monetary Fund, 2015. "Republic of Estonia: Selected Issues," IMF Staff Country Reports 2015/337, International Monetary Fund.
    25. João Tovar Jalles & Youssouf Kiendrebeogo & Raphael Lam & Roberto Piazza, 2024. "Revisiting the countercyclicality of fiscal policy," Empirical Economics, Springer, vol. 67(3), pages 877-914, September.
    26. Cobus Vermeulen, 2023. "The inherent uncertainties in output gap estimation a South African perspective," Working Papers 11051, South African Reserve Bank.
    27. Juan Carlos Berganza & Pedro del Río & Fructuoso Borrallo, 2016. "Determinants and implications of low global inflation rates," Occasional Papers 1608, Banco de España.
    28. Claudio Borio & Marc Farag & Fabrizio Zampolli, 2023. "Tackling the fiscal policy-financial stability nexus," BIS Working Papers 1090, Bank for International Settlements.
    29. Ms. Burcu Hacibedel & Pierre Mandon & Ms. Priscilla S Muthoora & Nathalie Pouokam, 2019. "Inequality in Good and Bad Times: A Cross-Country Approach," IMF Working Papers 2019/020, International Monetary Fund.
    30. Melolinna, Marko & Tóth, Máté, 2016. "Output gaps, inflation and financial cycles in the United Kingdom," Bank of England working papers 585, Bank of England.
    31. Jonas Dovern & Christopher Zuber, 2020. "Recessions and Potential Output: Disentangling Measurement Errors, Supply Shocks, and Hysteresis Effects," Scandinavian Journal of Economics, Wiley Blackwell, vol. 122(4), pages 1431-1466, October.
    32. Mr. Pau Rabanal & Marzie Taheri Sanjani, 2015. "Financial Factors: Implications for Output Gaps," IMF Working Papers 2015/153, International Monetary Fund.
    33. Jérôme Creel & Maurizio Iacopetta, 2015. "Macroeconomic Policy and potential growth," Documents de Travail de l'OFCE 2015-15, Observatoire Francais des Conjonctures Economiques (OFCE).
    34. Dovern, Jonas & Zuber, Christopher, 2017. "The Effect of Recessions on Potential Output Estimates: Size, Timing, and Determinants," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168180, Verein für Socialpolitik / German Economic Association.
    35. Giovanni Dell'Ariccia & Karl Habermeier & Vikram Haksar & Tommaso Mancini-Griffoli, 2017. "Monetary Policy and Financial Stability," RBA Annual Conference Volume (Discontinued), in: Jonathan Hambur & John Simon (ed.),Monetary Policy and Financial Stability in a World of Low Interest Rates, Reserve Bank of Australia.
    36. Claudio Borio & Piti Disyatat & Phurichai Rungcharoenkitkul, 2019. "What anchors for the natural rate of interest?," BIS Working Papers 777, Bank for International Settlements.
    37. Sariola, Mikko, 2019. "An unobserved components model for Finland – Estimates of potential output and NAWRU," BoF Economics Review 2/2019, Bank of Finland.
    38. Sven Langedijk & Aurélien Poissonnier & Edouard Turkisch, 2023. "The impact of macroeconomic developments and imbalances on fiscal outcomes," SN Business & Economics, Springer, vol. 3(6), pages 1-29, June.
    39. Kamel Dridi, 2024. "The impact of climate, socio-political and COVID-19 shocks on Tunisia's potential growth," IHEID Working Papers 21-2024, Economics Section, The Graduate Institute of International Studies.
    40. Ashwin Madhou, 2015. "Demystifying output gap pressure through surveys in a monetary analysis setting: an experimental perspective," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Indicators to support monetary and financial stability analysis: data sources and statistical methodologies, volume 39, Bank for International Settlements.
    41. Enrique Alberola-Ila & Rocío Gondo & Marco Jacopo Lombardi & Diego Urbina, 2016. "Output gaps and policy stabilisation in Latin America: the effect of commodity and capital flow cycles," BIS Working Papers 568, Bank for International Settlements.
    42. Pau Rabanal & Marzie Sanjani, 2015. "Incorporating Financial Cycles in Output Gap Measures: Estimates for the Euro Area," 2015 Meeting Papers 426, Society for Economic Dynamics.
    43. Marko Melolinna & Máté Tóth, 2019. "Output gaps, inflation and financial cycles in the UK," Empirical Economics, Springer, vol. 56(3), pages 1039-1070, March.
    44. Amat Adarov, 2017. "Financial Cycles in Credit, Housing and Capital Markets: Evidence from Systemic Economies," wiiw Working Papers 140, The Vienna Institute for International Economic Studies, wiiw.
    45. Adél Bosch & Steven F. Koch, 2020. "The South African Financial Cycle and its Relation to Household Deleveraging," South African Journal of Economics, Economic Society of South Africa, vol. 88(2), pages 145-173, June.
    46. Mr. Alvar Kangur & Koralai Kirabaeva & Jean-Marc Natal & Simon Voigts, 2019. "How Informative Are Real Time Output Gap Estimates in Europe?," IMF Working Papers 2019/200, International Monetary Fund.
    47. Igoni Pedro & Ganiyat Adejoke Adesina-Uthman, 2022. "Impact of Monetary Policy Shocks on the Output Gap in Nigeria," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 14(9), pages 1-38, September.
    48. Fethi Ogunc & Cagri Sarikaya, 2015. "Enflasyonu Aciklamada Kredilerin Bilgi Degeri," CBT Research Notes in Economics 1512, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    49. Agnieszka Gehringer & Thomas Mayer, 2019. "Understanding low interest rates: evidence from Japan, Euro Area, United States and United Kingdom," Scottish Journal of Political Economy, Scottish Economic Society, vol. 66(1), pages 28-53, February.
    50. Johanna Amberger & Ralf Fendel, 2017. "Understanding inflation dynamics in the Euro Area: deviants and commonalities across member countries," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 44(2), pages 261-293, May.
    51. Bjarni G. Einarsson & Kristófer Gunnlaugsson & Thorvardur Tjörvi Ólafsson & Thórarinn G. Pétursson, 2016. "The long history of financial boom-bust cycles in Iceland - Part II: Financial cycles," Economics wp72, Department of Economics, Central bank of Iceland.
    52. Byron Botha & Eric Schaling, 2020. "Commodity Prices and Policy Stabilisation in South Africa," Working Papers 10225, South African Reserve Bank.
    53. Constantinescu, Mihnea & Nguyen, Anh D.M., 2018. "Unemployment or credit: Which one holds the potential? Results for a small open economy with a low degree of financialization," Economic Systems, Elsevier, vol. 42(4), pages 649-664.
    54. Shaun de Jager & Michael Johnston & Rudi Steinbach, 2015. "A Revised Quarterly Projection Model for South Africa," Working Papers 6839, South African Reserve Bank.
    55. Ademmer, Martin & Boysen-Hogrefe, Jens & Carstensen, Kai & Hauber, Philipp & Jannsen, Nils & Kooths, Stefan & Rossian, Thies & Stolzenburg, Ulrich, 2019. "Schätzung von Produktionspotenzial und -lücke: Eine Analyse des EU-Verfahrens und mögliche Verbesserungen," Kieler Beiträge zur Wirtschaftspolitik 19, Kiel Institute for the World Economy (IfW Kiel).
    56. Felipe, Jesus & Estrada, Gemma, 2020. "What happened to the world's potential growth after the 2008–2009 global financial crisis?," Journal of the Japanese and International Economies, Elsevier, vol. 56(C).
    57. Phurichai Rungcharoenkitkul, 2015. "Bank competition and credit booms," BIS Working Papers 488, Bank for International Settlements.
    58. Johannes Fedderke & Daniel Mengisteab, 2016. "Estimating South Africas output gap and potential growth rate," Working Papers 7191, South African Reserve Bank.
    59. Eddie Casey, 2019. "Inside the "Upside Down": Estimating Ireland's Output Gap," The Economic and Social Review, Economic and Social Studies, vol. 50(1), pages 5-34.
    60. Pierre Aldama & Jérôme Creel, 2017. "Why Fiscal Regimes Matter for Fiscal Sustainability: An Application to France," Working Papers 2017.01, International Network for Economic Research - INFER.

  22. Claudio Borio & Frank Piti Disyatat & Mikael Juselius, 2013. "Rethinking potential output: Embedding information about the financial cycle," BIS Working Papers 404, Bank for International Settlements.

    Cited by:

    1. Mikael Juselius & Claudio Borio & Piti Disyatat & Mathias Drehmann, 2017. "Monetary Policy, the Financial Cycle, and Ultra-Low Interest Rates," International Journal of Central Banking, International Journal of Central Banking, vol. 13(3), pages 55-89, September.
    2. Borio, Claudio, 2013. "On Time, Stocks and Flows: Understanding the Global Macroeconomic Challenges," National Institute Economic Review, National Institute of Economic and Social Research, vol. 225, pages 3-13, August.
    3. Mariarosaria Comunale, 2017. "Synchronicity of real and financial cycles and structural characteristics in EU countries," Bank of Lithuania Occasional Paper Series 15, Bank of Lithuania.
    4. Berger, Tino & Richter, Julia & Wong, Benjamin, 2021. "A unified approach for jointly estimating the business and financial cycle, and the role of financial factors," University of Göttingen Working Papers in Economics 415, University of Goettingen, Department of Economics.
    5. Ansgar Belke, 2017. "Central Bank Communication: Managing Expectations through the Monetary Dialogue," ROME Working Papers 201704, ROME Network.
    6. Iancu, Aurel & Olteanu, Dan, 2015. "Fiscal Consolidation by Austerity and EU Surveillance Policies," Working Papers of National Institute for Economic Research 151209, Institutul National de Cercetari Economice (INCE).
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    136. Michael Fritsch & Alina Sorgner & Michael Wyrwich & Evguenii Zazdravnykh, 2016. "Historical Shocks and Persistence of Economic Activity: Evidence from a Unique Natural Experiment," Jena Economics Research Papers 2016-007, Friedrich-Schiller-University Jena.
    137. Kurowski, Łukasz & Rogowicz, Karol, 2018. "Are business and credit cycles synchronised internally or externally?," Economic Modelling, Elsevier, vol. 74(C), pages 124-141.
    138. Amat Adarov, 2017. "Financial Cycles in Credit, Housing and Capital Markets: Evidence from Systemic Economies," wiiw Working Papers 140, The Vienna Institute for International Economic Studies, wiiw.
    139. M. Deroose & A. Rannenberg & J. Wauters, 2019. "Separating the trend from the cycle : The debate on euro area potential output and implications for monetary policy," Economic Review, National Bank of Belgium, issue ii, pages 7-28, September.
    140. Francesco Furlanetto & Paolo Gelain & Marzie Sanjani, 2020. "Output Gap, Monetary Policy Trade-offs, and Financial Frictions," Working Papers 20-05, Federal Reserve Bank of Cleveland.
    141. Mohammad MUSTAFA, 2020. "Impact of credit guarantee on the output gap: A panel data analysis of Asian sovereigns," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(2(623), S), pages 281-288, Summer.
    142. Maximiliano Gomez Aguirre & Ariel Krysa, 2022. "Consumer Loans Dynamics in 2020 in Argentina: An Approach Using Error Correction Models," BCRA Working Paper Series 202298, Central Bank of Argentina, Economic Research Department.
    143. Philip Lane, 2013. "International Capital Flows and Domestic Financial Conditions: Lessons for Emerging Asia," The Institute for International Integration Studies Discussion Paper Series iiisdp438, IIIS.
    144. Luigi Bonatti, 2016. "Anemic economic growth in advanced economies: structural factors and the impotence of expansionary macroeconomic policies," DEM Working Papers 2016/11, Department of Economics and Management.
    145. Adél Bosch & Steven F. Koch, 2020. "The South African Financial Cycle and its Relation to Household Deleveraging," South African Journal of Economics, Economic Society of South Africa, vol. 88(2), pages 145-173, June.
    146. James Yetman, 2017. "Discussion of Monetary Policy and Financial Stability," RBA Annual Conference Volume (Discontinued), in: Jonathan Hambur & John Simon (ed.),Monetary Policy and Financial Stability in a World of Low Interest Rates, Reserve Bank of Australia.
    147. Sana Hussain, 2020. "Good volatility vs. bad volatility: The asymmetric impact of financial depth on macroeconomic volatility," Manchester School, University of Manchester, vol. 88(3), pages 405-438, June.
    148. Comunale, Mariarosaria, 2022. "A panel VAR analysis of macro-financial imbalances in the EU," Journal of International Money and Finance, Elsevier, vol. 121(C).
    149. Enrique Alberola & Ángel Estrada & Daniel Santabárbara, 2013. "Growth beyond imbalances. Sustainable growth rates and output gap reassessment," Working Papers 1313, Banco de España.
    150. Igoni Pedro & Ganiyat Adejoke Adesina-Uthman, 2022. "Impact of Monetary Policy Shocks on the Output Gap in Nigeria," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 14(9), pages 1-38, September.
    151. Claudio Borio & Piti Disyatat, 2016. "Capital Flows and the Current Account: Taking Financing (More) Seriously," PIER Discussion Papers 14, Puey Ungphakorn Institute for Economic Research.
    152. Rüffer, Rasmus & Leiner-Killinger, Nadine & Kamps, Christophe & Sondermann, David & De Stefani, Roberta, 2014. "The identification of fiscal and macroeconomic imbalances - unexploited synergies under the strengthened EU governance framework," Occasional Paper Series 157, European Central Bank.
    153. Fethi Ogunc & Cagri Sarikaya, 2015. "Enflasyonu Aciklamada Kredilerin Bilgi Degeri," CBT Research Notes in Economics 1512, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    154. Thomas Grjebine & Fabien Tripier, 2016. "Finance and Growth: From the Business Cycle to the Long Run," Working Papers 2016-28, CEPII research center.
    155. Alovokpinhou, Sedjro Aaron & Malikane, Christopher, 2024. "The effect of output and the real exchange rate on equity price dynamics," The North American Journal of Economics and Finance, Elsevier, vol. 72(C).
    156. Hodula Martin & Pfeifer Lukáš, 2018. "Fiscal-Monetary-Financial Stability Interactions in a Data-Rich Environment," Review of Economic Perspectives, Sciendo, vol. 18(3), pages 195-224, September.
    157. Dominik Bernhofer & Octavio Fernández-Amador & Martin Gächter & Friedrich Sindermann, 2014. "Finance, potential output and the business cycle," Chapters, in: Ewald Nowotny & Doris Ritzberger-Grünwald & Peter Backé (ed.), Financial Cycles and the Real Economy, chapter 14, pages 235-264, Edward Elgar Publishing.
    158. Johanna Amberger & Ralf Fendel, 2017. "Understanding inflation dynamics in the Euro Area: deviants and commonalities across member countries," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 44(2), pages 261-293, May.
    159. Alexander Yu. Apokin & Irina B. Ipatova, 2016. "Structural Breaks in Potential GDP Of Three Major Economies: Just Impaired Credit or the “New Normal”?," HSE Working papers WP BRP 142/EC/2016, National Research University Higher School of Economics.
    160. Škare, Marinko & Porada-Rochoń, Małgorzata, 2020. "Multi-channel singular-spectrum analysis of financial cycles in ten developed economies for 1970–2018," Journal of Business Research, Elsevier, vol. 112(C), pages 567-575.
    161. Zefeng Tang, 2022. "Local Government Debt, Financial Circle, and Sustainable Economic Development," Sustainability, MDPI, vol. 14(19), pages 1-29, September.
    162. Enrique Alberola & Ángel Estrada & Daniel Santabárbara, 2014. "Growth and imbalances in Spain: a reassessment of the output gap," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 5(2), pages 333-356, August.
    163. Eddie Gerba & Danilo Leiva-Leon, 2020. "Macro-financial interactions in a changing world," Working Papers 2018, Banco de España.
    164. Byron Botha & Eric Schaling, 2020. "Commodity Prices and Policy Stabilisation in South Africa," Working Papers 10225, South African Reserve Bank.
    165. Mariarosaria Comunale, 2020. "New synchronicity indices between real and financial cycles: Is there any link to structural characteristics and recessions in European Union countries?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 25(4), pages 617-641, October.
    166. Felipe, Jesus & Sotocinal, Noli & Bayudan-Dacuycuy, Connie, 2015. "The Impact of Financial Factors on the Output Gap and Estimates of Potential Output Growth," ADB Economics Working Paper Series 457, Asian Development Bank.
    167. Donal Smith, 2016. "The International Impact of Financial Shocks: A Global VAR and Connectedness Measures Approach," Discussion Papers 16/07, Department of Economics, University of York.
    168. Francesco Furlanetto & Kåre Hagelund & Frank Hansen & Ørjan Robstad, 2023. "Norges Bank Output Gap Estimates: Forecasting Properties, Reliability, Cyclical Sensitivity and Hysteresis," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 85(1), pages 238-267, February.
    169. Ademmer, Martin & Boysen-Hogrefe, Jens & Carstensen, Kai & Hauber, Philipp & Jannsen, Nils & Kooths, Stefan & Rossian, Thies & Stolzenburg, Ulrich, 2019. "Schätzung von Produktionspotenzial und -lücke: Eine Analyse des EU-Verfahrens und mögliche Verbesserungen," Kieler Beiträge zur Wirtschaftspolitik 19, Kiel Institute for the World Economy (IfW Kiel).
    170. Roumeen Islam, 2017. "Growth after Crisis in Europe: An Interdependence of Macroeconomic and Structural Policies," Cyprus Economic Policy Review, University of Cyprus, Economics Research Centre, vol. 11(2), pages 19-62, December.
    171. O'Brien, Martin & Velasco, Sofia, 2020. "Unobserved components models with stochastic volatility for extracting trends and cycles in credit," Research Technical Papers 09/RT/20, Central Bank of Ireland.
    172. Nur Ain Shahrier & Chuah Lay Lian, 2019. "Estimating Malaysia’S Output Gap: Have We Closed The Gap?," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 64(03), pages 647-674, June.
    173. Michał Hulej & Grzegorz Grabek, 2015. "Output gap measure based on survey data," NBP Working Papers 200, Narodowy Bank Polski.
    174. Felipe, Jesus & Estrada, Gemma, 2020. "What happened to the world's potential growth after the 2008–2009 global financial crisis?," Journal of the Japanese and International Economies, Elsevier, vol. 56(C).
    175. Johannes Fedderke & Daniel Mengisteab, 2016. "Estimating South Africas output gap and potential growth rate," Working Papers 7191, South African Reserve Bank.
    176. Eddie Casey, 2019. "Inside the "Upside Down": Estimating Ireland's Output Gap," The Economic and Social Review, Economic and Social Studies, vol. 50(1), pages 5-34.
    177. Claudio Borio, 2017. "Secular stagnation or financial cycle drag?," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 52(2), pages 87-98, April.
    178. Patrick Blagrave & Mr. Roberto Garcia-Saltos & Mr. Douglas Laxton & Fan Zhang, 2015. "A Simple Multivariate Filter for Estimating Potential Output," IMF Working Papers 2015/079, International Monetary Fund.
    179. Michael Cauvel, 2019. "The Neo-Goodwinian model, reconsidered," FMM Working Paper 47-2019, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    180. Tobal, Martin & Menna, Lorenzo, 2020. "Monetary policy and financial stability in emerging market economies," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 1(1).
    181. Diaz del Hoyo, Juan Luis & Dorrucci, Ettore & Heinz, Frigyes Ferdinand & Muzikarova, Sona, 2017. "Real convergence in the euro area: a long-term perspective," Occasional Paper Series 203, European Central Bank.
    182. Joshua Aizenman & Yothin Jinjarak & Huanhuan Zheng, 2016. "House Valuations and Economic Growth: Some International Evidence," NBER Working Papers 22699, National Bureau of Economic Research, Inc.
    183. Carlos Cuerpo & Ángel Cuevas & Enrique M. Quilis, 2018. "Estimating output gap: a beauty contest approach," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 9(3), pages 275-304, August.
    184. Dalia Mansour-Ibrahim, 2023. "Are the Eurozone Financial and Business Cycles Convergent Across Time and Frequency?," Computational Economics, Springer;Society for Computational Economics, vol. 61(1), pages 389-427, January.

  23. Juselius, Mikael & Kim, Moshe & Ringbom, Staffan, 2009. "Do markup dynamics reflect fundamentals or changes in conduct?," Bank of Finland Research Discussion Papers 12/2009, Bank of Finland.

    Cited by:

    1. Putkuri, Hanna, 2010. "Housing loan rate margins in Finland," Bank of Finland Research Discussion Papers 10/2010, Bank of Finland.

  24. Juselius, Mikael, 2008. "Testing the New Keynesian Model on U.S. and Euro Area Data," Economics Discussion Papers 2008-23, Kiel Institute for the World Economy (IfW Kiel).

    Cited by:

    1. Bazán-Palomino, Walter & Rodríguez, Gabriel, 2018. "The New Keynesian framework for a small open economy with structural breaks: Empirical evidence from Peru," Structural Change and Economic Dynamics, Elsevier, vol. 46(C), pages 13-25.
    2. Boug, Pål & Cappelen, Adne & Swensen, Anders Rygh, 2010. "The new Keynesian Phillips curve revisited," Journal of Economic Dynamics and Control, Elsevier, vol. 34(5), pages 858-874, May.
    3. Ordóñez, Javier & Jusélius, Katarina, 2009. "Balassa-Samuelson and Wage, Price and Unemployment Dynamics in the Spanish Transition to EMU Membership," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 3, pages 1-30.
    4. Katarina Juselius, 2010. "On the Role of Theory and Evidence in Macroeconomics," Discussion Papers 10-12, University of Copenhagen. Department of Economics.
    5. Katarina Juselius, 2009. "Time to reject the privileging of economic theory over empirical evidence? A Reply to Lawson (2009)," Discussion Papers 09-16, University of Copenhagen. Department of Economics.
    6. Jusélius, Katarina, 2009. "Special Issue on Using Econometrics for Assessing Economic Models: An Introduction," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 3, pages 1-20.

Articles

  1. Juselius, Mikael & Takáts, Előd, 2021. "Inflation and demography through time," Journal of Economic Dynamics and Control, Elsevier, vol. 128(C).

    Cited by:

    1. Park, Cyn-Young & Shin, Kwanho & Kikkawa, Aiko, 2020. "Demographic Change, Technological Advances, and Growth: A Cross-Country Analysis," ADB Economics Working Paper Series 617, Asian Development Bank.
    2. Zhang, Long & Padhan, Hemachandra & Singh, Sanjay Kumar & Gupta, Monika, 2024. "The impact of renewable energy on inflation in G7 economies: Evidence from artificial neural networks and machine learning methods," Energy Economics, Elsevier, vol. 136(C).
    3. Joseph Kopecky, 2021. "Okay Boomer... Excess Money Growth, Inflation, and Population Aging," Trinity Economics Papers tep0721, Trinity College Dublin, Department of Economics, revised Oct 2021.
    4. Ambrocio, Gene, 2023. "Demographic aging and the New Keynesian Phillips Curve," Bank of Finland Research Discussion Papers 16/2023, Bank of Finland.
    5. Banerjee, Ryan & Contreras, Juan & Mehrotra, Aaron & Zampolli, Fabrizio, 2024. "Inflation at risk in advanced and emerging market economies," Journal of International Money and Finance, Elsevier, vol. 142(C).
    6. Yugang He & Zhuoqi Teng, 2024. "Navigating Uncharted Waters: The Transformation of the Bank of Korea’s Monetary Policy in Response to Global Economic Uncertainty," Mathematics, MDPI, vol. 12(11), pages 1-24, May.
    7. Anthony Edo & Jacques Melitz, 2024. "The Controversy over European Inflation in 1500–1700: Precious Metals or Population? The English Evidence," Open Economies Review, Springer, vol. 35(3), pages 659-685, July.
    8. Kopecky, Joseph, 2023. "Population age structure and secular stagnation: Evidence from long run data," The Journal of the Economics of Ageing, Elsevier, vol. 24(C).
    9. Song, Wei & Yang, Yibai, 2024. "Monetary policy in a Schumpeterian economy with endogenous fertility and human capital accumulation," Journal of Macroeconomics, Elsevier, vol. 80(C).
    10. Jiazi Chen & Zhiwu Hong & Linlin Niu, 2022. "Forecasting Interest Rates with Shifting Endpoints: The Role of the Demographic Age Structure," Working Papers 2022-06-25, Wang Yanan Institute for Studies in Economics (WISE), Xiamen University.
    11. Rai, Karan & Garg, Bhavesh, 2024. "Demographic transition and inflation," Economic Systems, Elsevier, vol. 48(4).

  2. Mikael Juselius & Mathias Drehmann, 2020. "Leverage Dynamics and the Burden of Debt," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 82(2), pages 347-364, April.
    See citations under working paper version above.
  3. Mikael Juselius & Moshe Kim, 2017. "Sustainable Financial Obligations and Crisis Cycles," Econometrics, MDPI, vol. 5(2), pages 1-23, June.

    Cited by:

    1. Antunes, António & Bonfim, Diana & Monteiro, Nuno & Rodrigues, Paulo M.M., 2018. "Forecasting banking crises with dynamic panel probit models," International Journal of Forecasting, Elsevier, vol. 34(2), pages 249-275.
    2. Angel Huerga & Carlos Rodríguez-Monroy, 2019. "Mandatory Convertible Notes as a Sustainable Corporate Finance Instrument," Sustainability, MDPI, vol. 11(3), pages 1-26, February.

  4. Mikael Juselius & Claudio Borio & Piti Disyatat & Mathias Drehmann, 2017. "Monetary Policy, the Financial Cycle, and Ultra-Low Interest Rates," International Journal of Central Banking, International Journal of Central Banking, vol. 13(3), pages 55-89, September.
    See citations under working paper version above.
  5. Claudio BorioBy & Piti Disyatat & Mikael Juselius, 2017. "Rethinking potential output: embedding information about the financial cycle," Oxford Economic Papers, Oxford University Press, vol. 69(3), pages 655-677.
    See citations under working paper version above.
  6. Mathias Drehmann & Anamaria Illes & Mikael Juselius & Marjorie Santos, 2015. "How much income is used for debt payments? A new database for debt service ratios," BIS Quarterly Review, Bank for International Settlements, September.

    Cited by:

    1. Mikael Juselius & Claudio Borio & Piti Disyatat & Mathias Drehmann, 2017. "Monetary Policy, the Financial Cycle, and Ultra-Low Interest Rates," International Journal of Central Banking, International Journal of Central Banking, vol. 13(3), pages 55-89, September.
    2. Gubitz, Andrea & Tödter, Karl-Heinz & Ziebarth, Gerhard, 2023. "Zum Problem inflationsbedingter Liquiditätsrestriktionen bei der Immobilienfinanzierung," IMFS Working Paper Series 185, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    3. Couaillier, Cyril & Scalone, Valerio, 2024. "Risk-to buffer: setting cyclical and structural banks capital requirements through stress test," Working Paper Series 2966, European Central Bank.
    4. Anna Burova & Elena Deryugina & Nadezhda Ivanova & Maxim Morozov & Natalia Turdyeva, 2023. "Transmission to a low-carbon economy and its implications for financial stability in Russia," Bank of Russia Working Paper Series wps109, Bank of Russia.
    5. Mikael Juselius & Nikola Tarashev, 2021. "Could corporate credit losses turn out higher than expected?," BIS Bulletins 46, Bank for International Settlements.
    6. Papadopoulos, Georgios, 2019. "Income inequality, consumption, credit and credit risk in a data-driven agent-based model," Journal of Economic Dynamics and Control, Elsevier, vol. 104(C), pages 39-73.
    7. Akhilesh K. Verma & Rajeswari Sengupta, 2021. "Interlinkages between external debt financing, credit cycles and output fluctuations in emerging market economies," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 157(4), pages 965-1001, November.
    8. Boris Hofmann & Gert Peersman, 2017. "Is there a debt service channel of monetary transmission?," BIS Quarterly Review, Bank for International Settlements, December.
    9. Drehmann, Mathias & Juselius, Mikael & Korinek, Anton, 2017. "Accounting for debt service: The painful legacy of credit booms," Bank of Finland Research Discussion Papers 12/2017, Bank of Finland.
    10. Aldasoro, Iñaki & Borio, Claudio & Drehmann, Mathias, 2018. "Early warning indicators of banking crises: expanding the family," Journal of Financial Transformation, Capco Institute, vol. 48, pages 142-155.
    11. Mikael Juselius & Mathias Drehmann, 2020. "Leverage Dynamics and the Burden of Debt," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 82(2), pages 347-364, April.
    12. Müller, Karsten, 2022. "Busy bankruptcy courts and the cost of credit," Journal of Financial Economics, Elsevier, vol. 143(2), pages 824-845.
    13. J. Boeckx & M. de Sola Perea & M. Deroose & G. de Walque & Th. Lejeune & Ch. Van Nieuwenhuyse, 2018. "What will happen when interest rates go up?," Economic Review, National Bank of Belgium, issue iii, pages 35-56, september.
    14. Borio, Claudio & Drehmann, Mathias & Xia, Fan Dora, 2020. "Forecasting recessions: the importance of the financial cycle," Journal of Macroeconomics, Elsevier, vol. 66(C).
    15. Mathias Drehmann & Mikael Juselius & Anton Korinek, 2018. "Going With the Flows: New Borrowing, Debt Service and the Transmission of Credit Booms," NBER Working Papers 24549, National Bureau of Economic Research, Inc.
    16. Dunz, Nepomuk & Naqvi, Asjad & Monasterolo, Irene, 2021. "Climate sentiments, transition risk, and financial stability in a stock-flow consistent model," Journal of Financial Stability, Elsevier, vol. 54(C).
    17. Juan M. Londono & Stijn Claessens & Ricardo Correa, 2024. "Financial Stability Governance and Central Bank Communications," International Journal of Central Banking, International Journal of Central Banking, vol. 20(4), pages 175-220, October.
    18. Drehmann, Mathias & Juselius, Mikael & Korinek, Anton, 2023. "Long-term debt propagation and real reversals," CEPR Discussion Papers 18075, C.E.P.R. Discussion Papers.
    19. Anna Burova, 2020. "Measuring the Debt Service Ratio in Russia: micro-level data approach," Bank of Russia Working Paper Series wps55, Bank of Russia.
    20. Soyoung Kim & Aaron Mehrotra, 2015. "Managing price and financial stability objectives - what can we learn from the Asia-Pacific region?," BIS Working Papers 533, Bank for International Settlements.
    21. Daisy J. Pacheco-Bernal & Santiago D. Segovia-Baquero & Ana M. Yaruro-Jaime, 2017. "Vulnerabilidades financieras de los hogares en Colombia," Borradores de Economia 1026, Banco de la Republica de Colombia.
    22. Lang, Jan Hannes & Rusnák, Marek & Greiwe, Moritz, 2023. "Medium-term growth-at-risk in the euro area," Working Paper Series 2808, European Central Bank.
    23. Papadopoulos, Georgios, 2020. "Probing the mechanism: lending rate setting in a data-driven agent-based model," MPRA Paper 102749, University Library of Munich, Germany.
    24. Anna Zabai, 2020. "How are household finances holding up against the Covid-19 shock?," BIS Bulletins 22, Bank for International Settlements.
    25. Ricardo Correa & Keshav Garud & Juan M Londono & Nathan Mislang, 2021. "Sentiment in Central Banks’ Financial Stability Reports," Review of Finance, European Finance Association, vol. 25(1), pages 85-120.
    26. Dunz, Nepomuk & Naqvi, Asjad & Monasterolo, Irene, 2019. "Climate Transition Risk, Climate Sentiments, and Financial Stability in a Stock-Flow Consistent approach," Ecological Economic Papers 23, WU Vienna University of Economics and Business.
    27. Cyril Couaillier & Valerio Scalone, 2021. "Risk-to-Buffer: Setting Cyclical and Structural Capital Buffers through Banks Stress Tests," Working papers 830, Banque de France.
    28. Jan Klacso, 2024. "Estimating Macro DSTI for Selected EU Countries," Working and Discussion Papers WP 3/2024, Research Department, National Bank of Slovakia.
    29. Anna Zabai, 2017. "Household debt: recent developments and challenges," BIS Quarterly Review, Bank for International Settlements, December.

  7. Mikael Juselius & Moshe Kim & Staffan Ringbom, 2015. "Do markup dynamics reflect fundamentals or changes in conduct?," Empirical Economics, Springer, vol. 48(3), pages 1119-1147, May.
    See citations under working paper version above.
  8. Drehmann, Mathias & Juselius, Mikael, 2014. "Evaluating early warning indicators of banking crises: Satisfying policy requirements," International Journal of Forecasting, Elsevier, vol. 30(3), pages 759-780.

    Cited by:

    1. Tölö, Eero, 2019. "Predicting systemic financial crises with recurrent neural networks," Bank of Finland Research Discussion Papers 14/2019, Bank of Finland.
    2. Hristov, Nikolay & Roth, Markus, 2019. "Uncertainty shocks and financial crisis indicators," Discussion Papers 36/2019, Deutsche Bundesbank.
    3. Xi Yang, 2016. "Predicting bank failures: The leverage versus the risk-weighted capital ratio," Working Papers hal-04141595, HAL.
    4. Xi Yang, 2016. "Predicting bank failures: The leverage versus the risk-weighted capital ratio," Post-Print hal-01671522, HAL.
    5. Mikael Juselius & Claudio Borio & Piti Disyatat & Mathias Drehmann, 2017. "Monetary Policy, the Financial Cycle, and Ultra-Low Interest Rates," International Journal of Central Banking, International Journal of Central Banking, vol. 13(3), pages 55-89, September.
    6. Leroi RAPUTSOANE, 2015. "Alternative Measures of Credit Extension for Countercyclical Buffer Decisions in South Africa," Turkish Economic Review, KSP Journals, vol. 2(4), pages 210-221, December.
    7. Piergiorgio Alessandri & Pierluigi Bologna & Maddalena Galardo, 2020. "Financial crises, macroprudential policy and the reliability of credit-to-GDP gaps," Questioni di Economia e Finanza (Occasional Papers) 567, Bank of Italy, Economic Research and International Relations Area.
    8. Tihana Skrinjaric & Maja Sabol, 2024. "Easier Said than Done: Predicting Downside Risks to House Prices in Croatia," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 74(1), pages 43-72, March.
    9. Ragna Alstadheim & Ørjan Robstad & Nikka Husom Vonen, 2017. "Financial imbalances, crisis probability and monetary policy in Norway," Working Paper 2017/21, Norges Bank.
    10. Mr. Andrew Berg & Mr. Enrico G Berkes & Ms. Catherine A Pattillo & Mr. Andrea F Presbitero & Mr. Yorbol Yakhshilikov, 2014. "Assessing Bias and Accuracy in the World Bank-IMF's Debt Sustainability Framework for Low-Income Countries," IMF Working Papers 2014/048, International Monetary Fund.
    11. Vincent Bouvatier & Sofiane El Ouardi, 2021. "Credit gaps as banking crisis predictors: a different tune for middle- and low-income countries," Erudite Working Paper 2021-15, Erudite.
    12. Anna Burova & Elena Deryugina & Nadezhda Ivanova & Maxim Morozov & Natalia Turdyeva, 2023. "Transmission to a low-carbon economy and its implications for financial stability in Russia," Bank of Russia Working Paper Series wps109, Bank of Russia.
    13. Francisco J. Ib��ez-Hern�ndez & Miguel �. Pe�a-Cerezo & Andr�s Araujo, 2015. "Countercyclical capital buffers: credit-to-GDP ratio versus credit growth," Applied Economics Letters, Taylor & Francis Journals, vol. 22(5), pages 385-390, March.
    14. Önundur Páll Ragnarsson & Jón Magnús Hannesson & Loftur Hreinsson, 2019. "Financial cycles as early warning indicators - Lessons from the Nordic region," Economics wp80, Department of Economics, Central bank of Iceland.
    15. Lang, Jan Hannes & Peltonen, Tuomas A. & Sarlin, Peter, 2018. "A framework for early-warning modeling with an application to banks," Working Paper Series 2182, European Central Bank.
    16. Mikael Juselius & Nikola Tarashev, 2021. "Could corporate credit losses turn out higher than expected?," BIS Bulletins 46, Bank for International Settlements.
    17. Christian Dembiermont, 2015. "The construction of long time series on credit to the private and public sector," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Indicators to support monetary and financial stability analysis: data sources and statistical methodologies, volume 39, Bank for International Settlements.
    18. Antoine Kornprobst & Raphael Douady, 2015. "An Empirical Approach to Financial Crisis Indicators Based on Random Matrices," Papers 1506.00806, arXiv.org, revised Sep 2017.
    19. Jean-Charles Bricongne & Leonor Coutinho & Alessandro Turrini & Stefan Zeugner, 2020. "Is Private Debt Excessive?," Open Economies Review, Springer, vol. 31(2), pages 471-512, April.
    20. Vincent Bouvatier & Anne-Laure Delatte & Pierre-Nicolas Rehault, 2022. "Measuring credit procyclicality: A new database," Post-Print hal-04286376, HAL.
    21. Bespalova, Olga, 2018. "Forecast Evaluation in Macroeconomics and International Finance. Ph.D. thesis, George Washington University, Washington, DC, USA," MPRA Paper 117706, University Library of Munich, Germany.
    22. Jokivuolle, Esa & Pesola, Jarmo & Viren, Matti, 2015. "Why is credit-to-GDP a good measure for setting countercyclical capital buffers?," Journal of Financial Stability, Elsevier, vol. 18(C), pages 117-126.
    23. Dima, Bogdan & Dincă, Marius Sorin & Spulbăr, Cristi, 2014. "Financial nexus: Efficiency and soundness in banking and capital markets," Journal of International Money and Finance, Elsevier, vol. 47(C), pages 100-124.
    24. Kajal Lahiri & Liu Yang, 2018. "Confidence Bands for ROC Curves With Serially Dependent Data," Journal of Business & Economic Statistics, Taylor & Francis Journals, vol. 36(1), pages 115-130, January.
    25. Bennani, T. & Després, M. & Dujardin, M. & Duprey, T. & Kelber, A., 2014. "Macroprudential framework:key questions applied to the French case," Occasional papers 9, Banque de France.
    26. Taining Wang & Jinjing Tian & Feng Yao, 2021. "Does high debt ratio influence Chinese firms’ performance? A semiparametric stochastic frontier approach with zero inefficiency," Empirical Economics, Springer, vol. 61(2), pages 587-636, August.
    27. Spelta, A. & Pecora, N. & Rovira Kaltwasser, P., 2019. "Identifying Systemically Important Banks: A temporal approach for macroprudential policies," Journal of Policy Modeling, Elsevier, vol. 41(1), pages 197-218.
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    Cited by:

    1. Hristov, Nikolay & Roth, Markus, 2019. "Uncertainty shocks and financial crisis indicators," Discussion Papers 36/2019, Deutsche Bundesbank.
    2. Mathias Drehmann, 2013. "Evaluating early warning indicators of banking crises: Satisfying policy requirements," BIS Working Papers 421, Bank for International Settlements.
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    5. Mathias Drehmann & Mikael Juselius & Sarah Quincy, 2024. "Aggregate debt servicing and the limit on private credit," BIS Working Papers 1235, Bank for International Settlements.
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    7. Ажгалиева Д. // Azhgaliyeva D. & Капсалямова З. // Kapsalyamova Z., 2024. "Государственная поддержка в продвижении зеленых облигаций в Азии: эмпирические данные // Policy support in promoting green bonds in Asia: empirical evidence," Economic Review(National Bank of Kazakhstan), National Bank of Kazakhstan, issue 2 Special, pages 63-64.
    8. Bennani, T. & Després, M. & Dujardin, M. & Duprey, T. & Kelber, A., 2014. "Macroprudential framework:key questions applied to the French case," Occasional papers 9, Banque de France.
    9. Яндиев М. // Yandiyev М., 2024. "Феномен недооценки при первичном размещении акций объясняется алчностью финансовых спекулянтов // The Phenomenon of Underpricing during Initial Public Offering is Explained by the Greed of Financial S," Economic Review(National Bank of Kazakhstan), National Bank of Kazakhstan, issue 2 Special, pages 65-85.
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    19. Ward, Felix, 2014. "Spotting the Danger Zone - Forecasting Financial Crises with Classification Tree Ensembles and Many Predictors," Bonn Econ Discussion Papers 01/2014, University of Bonn, Bonn Graduate School of Economics (BGSE).
    20. Soyoung Kim & Aaron Mehrotra, 2019. "Examining macroprudential policy and its macroeconomic effects - some new evidence," BIS Working Papers 825, Bank for International Settlements.
    21. Mikael Juselius & Mathias Drehmann, 2020. "Leverage Dynamics and the Burden of Debt," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 82(2), pages 347-364, April.
    22. Yasin Mimir & Lorenzo Ricci, 2024. "Financial imbalances and macroeconomic tail risks: A structural regime-switching investigation," Working Papers 64, European Stability Mechanism, revised 15 Nov 2024.
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    25. Ryan Niladri Banerjee & Aaron Mehrotra & Fabrizio Zampolli, 2024. "Keeping the momentum: how finance can continue to support growth in EMEs," BIS Papers chapters, in: Bank for International Settlements (ed.), Keeping the momentum: how finance can continue to support growth in EMEs, volume 127, pages 1-39, Bank for International Settlements.
    26. Ashley Dunstan, 2014. "The interaction between monetary and macro-prudential policy," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 77, pages 15-25, June.
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    28. Yildirim, Yusuf & Sanyal, Anirban, 2022. "Evaluating the Effectiveness of Early Warning Indicators: An Application of Receiver Operating Characteristic Curve Approach to Panel Data," EconStor Preprints 251726, ZBW - Leibniz Information Centre for Economics.
    29. Lainà, Patrizio & Nyholm, Juho & Sarlin, Peter, 2014. "Leading indicators of systemic banking crises: Finland in a panel of EU countries," Bank of Finland Research Discussion Papers 14/2014, Bank of Finland.
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    31. Bank for International Settlements, 2012. "Operationalising the selection and application of macroprudential instruments," CGFS Papers, Bank for International Settlements, number 48, december.
    32. Steve Ambler & Jeremy Kronick, 2020. "Predicting Financial Crises: Debt versus Debt Service Ratios," Working Papers 20-09, Chair in macroeconomics and forecasting, University of Quebec in Montreal's School of Management.
    33. Sun, Lixin, 2015. "China’s Debt: Structure, Determinants and Sustainability," MPRA Paper 68548, University Library of Munich, Germany, revised Oct 2015.
    34. Lepers, Etienne & Sánchez Serrano, Antonio, 2020. "Decomposing financial (in)stability in emerging economies," Research in International Business and Finance, Elsevier, vol. 51(C).
    35. Абилов Н. // Abilov N., 2024. "Риск действительно имеет значение: шоки неопределенности в условиях малой экономики страны – экспортера нефти // Risk indeed matters: uncertainty shocks in a small oil-exporting economy," Economic Review(National Bank of Kazakhstan), National Bank of Kazakhstan, issue 2 Special, pages 7-23.
    36. Jorge E. Galán, 2019. "Measuring credit-to-gdp gaps. The hodrick-prescott filter revisited," Occasional Papers 1906, Banco de España.
    37. Vipul Bhatt & Andre R. Neveu, 2014. "Re-thinking debt burden: Going with the Flow?," Keio-IES Discussion Paper Series 2014-004, Institute for Economics Studies, Keio University.
    38. Alexey Simanovskiy & Alexander Morozov & Andrey Sinyakov & Alexey Porshakov & Maria Pomelnikova & Yulia Ushakova & Vladimir Markelov & Mikhail Bezdudniy, 2018. "The 2008–2017 Decade in the Russian Banking Sector: Trends and Factors," Bank of Russia Working Paper Series wps31, Bank of Russia.
    39. Mamedli Mariam & Andrey Sinyakov, 2017. "Consumer lending in Russia: prospects and risks based on household finance survey," Bank of Russia Working Paper Series note10, Bank of Russia.
    40. Nartey Menzo, Benjamin Prince & Mogre, Diana & Asuamah Yeboah, Samuel, 2024. "Beyond Income: The Complexities of Credit Risk in Developing Countries," MPRA Paper 122364, University Library of Munich, Germany, revised 20 Sep 2024.
    41. Sarlin, Peter & Ramsay, Bruce A., 2014. "Ending over-lending: Assessing systemic risk with debt to cash flow," Bank of Finland Research Discussion Papers 11/2014, Bank of Finland.
    42. Lainà, Patrizio & Nyholm, Juho & Sarlin, Peter, 2015. "Leading indicators of systemic banking crises: Finland in a panel of EU countries," Review of Financial Economics, Elsevier, vol. 24(C), pages 18-35.
    43. Адилханова З. // Adilkhanova Z., 2024. "Влияние жесткости заработных плат на инфляцию в рамках трансмиссионного механизма монетарной политики // Impact of Wage Rigidity on Inflation within the Framework of Monetary Policy Transmission Mecha," Economic Review(National Bank of Kazakhstan), National Bank of Kazakhstan, issue 2 Special, pages 45-59.
    44. Detken, Carsten & Weeken, Olaf & Alessi, Lucia & Bonfim, Diana & Boucinha, Miguel & Castro, Christian & Frontczak, Sebastian & Giordana, Gaston & Giese, Julia & Wildmann, Nadya & Kakes, Jan & Klaus, B, 2014. "Operationalising the countercyclical capital buffer: indicator selection, threshold identification and calibration options," ESRB Occasional Paper Series 5, European Systemic Risk Board.
    45. Еселева-Пионка М. // Yesseleva-Pionka М. & Кенжегаранова М. // Kenzhegaranova М. & Азимбекова А. // Azimbekova А. & Кусниева А. // Kusniyeva А. & Байбекова А. // Baibekova А., 2024. "Противодействие финансовым мошенничествам, в частности пирамидам, интернет и телефонным мошенничествам // Combating Fnancial Fraud, in Particular Pyramid, Internet and Telephone Fraud," Economic Review(National Bank of Kazakhstan), National Bank of Kazakhstan, issue 2 Special, pages 86-89.
    46. Alain Galli, 2017. "How Reliable are Cointegration-Based Estimates for Wealth Effects on Consumption? Evidence from Switzerland," Swiss Journal of Economics and Statistics, Springer;Swiss Society of Economics and Statistics, vol. 153(4), pages 437-479, October.
    47. Patrizio Lainà & Juho Nyholm & Peter Sarlin, 2015. "Leading indicators of systemic banking crises: Finland in a panel of EU countries," Review of Financial Economics, John Wiley & Sons, vol. 24(1), pages 18-35, January.
    48. V. Coudert & J. Idier, 2016. "An Early Warning System for Macro-prudential Policy in France," Working papers 609, Banque de France.
    49. Tihana Skrinjaric, 2023. "Leading indicators of financial stress in Croatia: a regime switching approach," Public Sector Economics, Institute of Public Finance, vol. 47(2), pages 205-232.
    50. T. Duprey & M. L, 2014. "Bank Capital Adjustment Process and Aggregate Lending," Working papers 499, Banque de France.
    51. International Monetary Fund, 2016. "Ireland: Financial Sector Assessment Program: Technical Note-Macroprudential Policy Framework," IMF Staff Country Reports 2016/316, International Monetary Fund.
    52. Bengtsson, Elias & Grothe, Magdalena & Lepers, Etienne, 2017. "Home, safe home: cross-country monitoring framework for vulnerabilities in the residential real estate sector," Working Paper Series 2096, European Central Bank.
    53. Yuichiro Ito & Tomiyuki Kitamura & Koji Nakamura & Takashi Nakazawa, 2014. "New Financial Activity Indexes: Early Warning System for Financial Imbalances in Japan," Bank of Japan Working Paper Series 14-E-7, Bank of Japan.
    54. Joel A. Elvery & Mark E. Schweitzer, 2020. "Partially Disaggregated Household‐Level Debt Service Ratios: Construction, Validation, And Relationship To Bankruptcy Rates," Contemporary Economic Policy, Western Economic Association International, vol. 38(1), pages 166-187, January.
    55. Borio, Claudio & Drehmann, Mathias & Tsatsaronis, Kostas, 2014. "Stress-testing macro stress testing: Does it live up to expectations?," Journal of Financial Stability, Elsevier, vol. 12(C), pages 3-15.
    56. Mikael Juselius & Moshe Kim, 2017. "Sustainable Financial Obligations and Crisis Cycles," Econometrics, MDPI, vol. 5(2), pages 1-23, June.
    57. Yulia Ushakova & Dmitry Chernyadyev, 2017. "The effects of Financial Shock on Russian short-term equilibrium interest rates," Bank of Russia Working Paper Series note11, Bank of Russia.
    58. Jouchi Nakajima, 2018. "The role of household debt heterogeneity on consumption: Evidence from Japanese household data," BIS Working Papers 736, Bank for International Settlements.
    59. Anna Burova, 2020. "Measuring the Debt Service Ratio in Russia: micro-level data approach," Bank of Russia Working Paper Series wps55, Bank of Russia.
    60. Cengiz Tunc & Mustafa Kilinc, 2023. "Household Debt and Economic Growth: Debt Service Matters," Open Economies Review, Springer, vol. 34(1), pages 71-92, February.
    61. Mikael Juselius & Nikola Tarashev, 2020. "Forecasting expected and unexpected losses," BIS Working Papers 913, Bank for International Settlements.
    62. Soyoung Kim & Aaron Mehrotra, 2015. "Managing price and financial stability objectives - what can we learn from the Asia-Pacific region?," BIS Working Papers 533, Bank for International Settlements.
    63. Evlakhova, Yu. & Alifanova, E. & Tregubova, A., 2021. "Banks behavior patterns as a response to the population financial activity in the macroeconomic shocks in Russia," Journal of the New Economic Association, New Economic Association, vol. 50(2), pages 74-95.
    64. Detken, Carsten & Alessi, Lucia, 2014. "Identifying excessive credit growth and leverage," Working Paper Series 1723, European Central Bank.
    65. Enisse Kharroubi & Emanuel Kohlscheen, 2017. "Consumption-led expansions," BIS Quarterly Review, Bank for International Settlements, March.
    66. Mathias Drehmann & Kostas Tsatsaronis, 2014. "The credit-to-GDP gap and countercyclical capital buffers: questions and answers," BIS Quarterly Review, Bank for International Settlements, March.
    67. Just Tobias & Salzberger Hannah, 2024. "Structural and Cyclical Risks in Housing Markets in OECD Countries," Intereconomics: Review of European Economic Policy, Sciendo, vol. 59(3), pages 167-175.
    68. Marcin Pietrzak, 2021. "Can Financial Soundness Indicators Help Predict Financial Sector Distress?," IMF Working Papers 2021/197, International Monetary Fund.
    69. Yabesh Ombwori Kongo & Elvis Kimani Kiano & Joash Ogolla Ogada & Peter Isaboke Omboto, 2023. "The Effect of Debt Service Ratio and Exchange Rate on Public Debt Sustainability in Kenya," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(11), pages 302-312, November.
    70. Mathias Lahnsteiner, 2013. "Private Sector Debt in CESEE EU Member States," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue 3, pages 30-47.
    71. Anna Burova & Denis Koshelev & Natalia Makhankova, 2022. "Debt Service: Evidence Based on Consolidated Statements of Russian Companies," Bank of Russia Working Paper Series wps103, Bank of Russia.
    72. Zhandos Ybrayev & Andrey Talakin & Yerlan Kairullayev & Talgat Zharkynbay, 2024. "Household debt service ratio in a developing economy: borrower-based analytical tools and macroprudential policy overview in Kazakhstan," Journal of Banking Regulation, Palgrave Macmillan, vol. 25(1), pages 58-72, March.
    73. Jae Wook Yoo & Yu Jin Chang, 2024. "Domestic vs. Foreign Institutional Investors: Who Improves ESG and Value of Chinese Companies?," Sustainability, MDPI, vol. 16(18), pages 1-16, September.
    74. Hodula Martin & Pfeifer Lukáš, 2018. "Fiscal-Monetary-Financial Stability Interactions in a Data-Rich Environment," Review of Economic Perspectives, Sciendo, vol. 18(3), pages 195-224, September.
    75. Hristov, Nikolay & Roth, Markus, 2022. "Uncertainty shocks and systemic-risk indicators," Journal of International Money and Finance, Elsevier, vol. 122(C).
    76. Lojschova, Adriana & Wagner, Karin & Schmidt, Alexander & Akantziliotou, Calliope & Dujardin, Marine & Kennedy, Gerard & Pontuch, Peter, 2015. "Report on residential real estate and financial stability in the EU, Section 1. on Structural features of residential real estate markets," MPRA Paper 79723, University Library of Munich, Germany.
    77. Saurabh Ghosh, 2015. "Building on the Countercyclical Consensus: An Empirical Test," Working Papers wp08, South East Asian Central Banks (SEACEN) Research and Training Centre.
    78. Magdalena Grothe, 2020. "Monitoring Vulnerabilities in the Residential Real Estate Sector in Poland," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 2, pages 5-24.
    79. Рысбаева Ә. Б. // Rysbayeva A.B. & Ханет А. Б. // Khanet А. B., 2024. "Фискальные мультипликаторы в Казахстане // Fiscal Multipliers in Kazakhstan," Economic Review(National Bank of Kazakhstan), National Bank of Kazakhstan, issue 2 Special, pages 24-44.
    80. Tihana Skrinjaric, 2023. "Introducing a composite indicator of cyclical systemic risk in Croatia: possibilities and limitations," Public Sector Economics, Institute of Public Finance, vol. 47(1), pages 1-39.
    81. Татибеков Б. // Tatibekov B. & Абдразакова А. // Abdrazakova А., 2024. "Особенности взаимосвязи рынка труда и инфляционных процессов в экономике Казахстана в период 2001-2021 гг.: теория и практика реализации // Specifics of Relationship between the Labor Market and Infla," Economic Review(National Bank of Kazakhstan), National Bank of Kazakhstan, issue 2 Special, pages 60-61.
    82. Nadezhda Ivanova & Henry Penikas & Svetlana Popova & Andrey Sinyakov & Natalia Turdyeva, 2022. "Review of the Bank of Russia - NES Workshop 'Transition to a Low-Carbon Economy: Costs and Risks for the Financial Sector'," Russian Journal of Money and Finance, Bank of Russia, vol. 81(3), pages 89-106, September.
    83. Michael Richter, 2017. "Asymmetric Effects on Financial Cycles in a Monetary Union with Diverging Country Preferences for Variable- and Fixed-Rate Mortgages," Review of Economics & Finance, Better Advances Press, Canada, vol. 7, pages 19-36, February.
    84. Ыбраев Ж. // Ybrayev Zh., 2024. "Макроэкономическая активность и контр-циклический буфер капитала в Казахстане // Macroeconomic Activity and Countercyclical Capital Buffer in Kazakhstan," Economic Review(National Bank of Kazakhstan), National Bank of Kazakhstan, issue 2 Special, pages 92-100.
    85. Aikman, David & Bridges, Jonathan & Burgess, Stephen & Galletly, Richard & Levina, Iren & O'Neill, Cian & Varadi, Alexandra, 2018. "Measuring risks to UK financial stability," Bank of England working papers 738, Bank of England.
    86. Tony Wolken, 2013. "Measuring systemic risk: the role of macro-prudential indicators," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 76, pages 13-30, December.
    87. Mathias Drehmann & Anamaria Illes & Mikael Juselius & Marjorie Santos, 2015. "How much income is used for debt payments? A new database for debt service ratios," BIS Quarterly Review, Bank for International Settlements, September.
    88. Sofya Donets & Alexey Ponomarenko, 2015. "Measuring Debt Burden," Bank of Russia Working Paper Series wps5, Bank of Russia.
    89. Jan Klacso, 2024. "Estimating Macro DSTI for Selected EU Countries," Working and Discussion Papers WP 3/2024, Research Department, National Bank of Slovakia.
    90. Nidhi Singh, 2018. "Effect of Cash Holding Policy of Financially Constrained Firms on Their Market Performance," Management and Labour Studies, XLRI Jamshedpur, School of Business Management & Human Resources, vol. 43(1-2), pages 31-45, February.
    91. Mr. Adrian Alter & Elizabeth M. Mahoney, 2020. "Household Debt and House Prices-at-risk: A Tale of Two Countries," IMF Working Papers 2020/042, International Monetary Fund.
    92. Karminsky, A. & Dyachkova, N., 2020. "Empirical study of the relationship between credit cycles and changes in credit ratings," Journal of the New Economic Association, New Economic Association, vol. 48(4), pages 138-160.
    93. Nyholm, Juho & Voutilainen, Ville, 2021. "Quantiles of growth: Household debt and growth vulnerabilities in Finland," BoF Economics Review 2/2021, Bank of Finland.
    94. Mamedli Mariam & Andrey Sinyakov, 2018. "Regional heterogeneity of household lending based on the findings of the household finance survey: regional features and potential risks," Bank of Russia Working Paper Series note16, Bank of Russia.
    95. Carmen Broto & Esther Cáceres & Mariya Melnychuk, 2022. "Sectoral indicators for applying the Banco de España’s new macroprudential tools," Financial Stability Review, Banco de España, issue Spring.
    96. Sarlin, Peter & Ramsay, Bruce A., 2015. "Ending over-lending: assessing systemic risk with debt to cash flow," Working Paper Series 1769, European Central Bank.
    97. Claudio Borio, 2021. "Navigating by r*: safe or hazardous?," BIS Working Papers 982, Bank for International Settlements.
    98. Jorge E. Galán & Javier Mencía, 2021. "Model-based indicators for the identification of cyclical systemic risk," Empirical Economics, Springer, vol. 61(6), pages 3179-3211, December.

  10. Mikael Juselius, 2011. "Testing Steady‐State Restrictions of Linear Rational Expectations Models when Data are Highly Persistent," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 73(3), pages 315-334, June.

    Cited by:

    1. Nymoen, Ragnar & Swensen, Anders Rygh & Tveter, Eivind, 2012. "Interpreting the evidence for New Keynesian models of inflation dynamics," Journal of Macroeconomics, Elsevier, vol. 34(2), pages 253-263.
    2. Gunnar Bårdsen & Luca Fanelli, 2015. "Frequentist Evaluation of Small DSGE Models," Journal of Business & Economic Statistics, Taylor & Francis Journals, vol. 33(3), pages 307-322, July.

  11. Mikael Juselius & Rune Stenbacka, 2011. "The Relevant Market for Production and Wholesale of Electricity in the Nordic Countries: An Econometric Study," Scandinavian Journal of Economics, Wiley Blackwell, vol. 113(1), pages 167-189, March.

    Cited by:

    1. Institute of Economics, 2020. "Institut für Volkswirtschaftslehre Forschungsbericht 2019," Working Paper Series in Economics 388, University of Lüneburg, Institute of Economics.
    2. Mikael Juselius & Moshe Kim & Staffan Ringbom, 2015. "Do markup dynamics reflect fundamentals or changes in conduct?," Empirical Economics, Springer, vol. 48(3), pages 1119-1147, May.
    3. Matti Liski & Iivo Vehviläinen, 2017. "Gone with the wind: an empirical analysis of the renewable energy rent transfer," Working Papers EPRG 1701, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
    4. Christoph Kleineberg, 2020. "Market definition of the german retail gasoline industry on highways and those in the immediate vicinity," Working Paper Series in Economics 389, University of Lüneburg, Institute of Economics.
    5. Miguel Pérez de Arce and Enzo Sauma, 2016. "Comparison of Incentive Policies for Renewable Energy in an Oligopolistic Market with Price-Responsive Demand," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3).
    6. Vladimír Hajko & Jaroslav Bil, 2013. "The Relevant Markets for Meat Production and Processing in the Czech Republic: Analysis of the Price Movements," Czech Economic Review, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, vol. 7(3), pages 178-197, November.

  12. Juselius, Mikael, 2008. "Long-run relationships between labor and capital: Indirect evidence on the elasticity of substitution," Journal of Macroeconomics, Elsevier, vol. 30(2), pages 739-756, June.

    Cited by:

    1. Akira MOMOTA & Tomoya SAKAGAMI & Akihisa SHIBATA, 2019. "Reexamination of the Serendipity Theorem from the Stability Viewpoint," JODE - Journal of Demographic Economics, Cambridge University Press, vol. 85(1), pages 43-70, March.
    2. Franziska Piontek & Matthias Kalkuhl & Elmar Kriegler & Anselm Schultes & Marian Leimbach & Ottmar Edenhofer & Nico Bauer, 2019. "Economic Growth Effects of Alternative Climate Change Impact Channels in Economic Modeling," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 73(4), pages 1357-1385, August.
    3. André Mollick, 2011. "The world elasticity of labor substitution across education levels," Empirical Economics, Springer, vol. 41(3), pages 769-785, December.
    4. Kristkova, Z. Smeets & Gardebroek, K. & van Dijk, M. & van Meijl, H., 2015. "The impact of R&D on factor-augmenting technical change- an empirical assessment at the sector level," 2015 Conference, August 9-14, 2015, Milan, Italy 230229, International Association of Agricultural Economists.
    5. Marinescu, Ioana E., 2012. "HIV, Wages, and the Skill Premium," IZA Discussion Papers 6438, Institute of Labor Economics (IZA).
    6. Lawrence Robert Z., 2015. "Recent Declines in Labor's Share in U.S. Income: A Preliminary Neoclassical Account," Working Paper Series rwp15-034, Harvard University, John F. Kennedy School of Government.
    7. P. Capros & Denise Van Regemorter & Leonidas Paroussos & P. Karkatsoulis & C. Fragkiadakis & S. Tsani & I. Charalampidis & Tamas Revesz, 2013. "GEM-E3 Model Documentation," JRC Research Reports JRC83177, Joint Research Centre.
    8. Gertrude Sebunya Muwanga, 2017. "Estimation Of Cob-Douglas And Translog Production Functions With Capital And Gender Disaggregated Labor Inputs In The Usa," Journal of Smart Economic Growth, , vol. 2(3), pages 55-105, December.

  13. Juselius, Mikael, 2008. "Testing the New Keynesian Model on U.S. and Euro Area Data," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 2, pages 1-26.
    See citations under working paper version above.

Chapters

  1. Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2019. "Monetary Policy in the Grip of a Pincer Movement," Central Banking, Analysis, and Economic Policies Book Series, in: Álvaro Aguirre & Markus Brunnermeier & Diego Saravia (ed.),Monetary Policy and Financial Stability: Transmission Mechanisms and Policy Implications, edition 1, volume 26, chapter 10, pages 311-356, Central Bank of Chile.
    See citations under working paper version above.Sorry, no citations of chapters recorded.
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