Kristina Bluwstein

TL;DR: This paper examined the effects of unconventional monetary policy measures by the European Central Bank on nine European countries not adopting the euro with a novel Bayesian mixed-frequency structural vector autoregressive technique.

TL;DR: The authors developed early warning models for financial crisis prediction using machine learning techniques on macro financial data for 17 countries over 1870-2016 and identified economic drivers of their machine learning models using a novel framework based on Shapley values, uncovering non-linear relationships between the predictors and crisis risk.

TL;DR: This paper developed early warning models for financial crisis prediction using machine learning techniques on macro financial data for 17 countries over 1870-2016 and identified economic drivers of their machine learning models using a novel framework based on Shapley values, uncovering non-linear relationships between the predictors and crisis risk.

TL;DR: In this paper, a Markov-Switching vector autoregressive model and euro area data were used to identify the sources of asymmetry in macro-financial linkages and showed that the borrowers' balance sheet channel accounts for the asymmetry.

TL;DR: In this article, the authors study the implications of multi-period mortgage loans for monetary policy, considering several realistic modifications, such as fixed interest rate contracts, a lower bound constraint on newly granted loans, and the possibility of the collateral constraint to become slack.