Details about Raf Wouters

Access statistics for papers by Raf Wouters.

Last updated 2024-03-06. Update your information in the RePEc Author Service.

Short-id: pwo72

Working Papers

2023

1. Professional Survey Forecasts and Expectations in DSGE Models
   CERGE-EI Working Papers, The Center for Economic Research and Graduate Education - Economics Institute, Prague
2. The risk premium in New Keynesian DSGE models: The cost of inflation channel
   LIDAM Reprints LFIN, Université catholique de Louvain, Louvain Finance (LFIN) View citations (1)
   Also in LIDAM Discussion Papers LFIN, Université catholique de Louvain, Louvain Finance (LFIN) (2022)
   See also Journal Article The risk premium in New Keynesian DSGE models: The cost of inflation channel, Journal of Economic Dynamics and Control, Elsevier (2023) View citations (3) (2023)

2022

3. Risk and State-Dependent Financial Frictions
   Staff Working Papers, Bank of Canada

2020

4. Low pass-through and high spillovers in NOEM: What does help and what does not
   Working Paper Research, National Bank of Belgium View citations (1)

2019

5. A macroeconomic model with heterogeneous and financially-constrained intermediaries
   Working Paper Research, National Bank of Belgium

2017

6. An estimated two-country EA-US model with limited exchange rate pass-through
   Working Paper Research, National Bank of Belgium View citations (23)

2016

7. Challenges for Central Banks' Macro Models
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (37)
   Also in Working Paper Series, Sveriges Riksbank (Central Bank of Sweden) (2016) View citations (20)

2013

8. Professional forecasters and the real-time forecasting performance of an estimated new keynesian model for the euro area
   Working Paper Series, European Central Bank View citations (10)

2012

9. Endogenous risk in a DSGE model with capital-constrained financial intermediaries
   Working Paper Research, National Bank of Belgium View citations (15)
   See also Journal Article Endogenous risk in a DSGE model with capital-constrained financial intermediaries, Journal of Economic Dynamics and Control, Elsevier (2014) View citations (29) (2014)
10. Slow Recoveries: A Structural Interpretation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (108)
    Also in Working Papers, Barcelona School of Economics (2012) View citations (107)
    Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (2012) View citations (109)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2012) View citations (107)
    See also Journal Article Slow Recoveries: A Structural Interpretation, Journal of Money, Credit and Banking, Blackwell Publishing (2012) View citations (37) (2012)
11. Unemployment in an Estimated New Keynesian Model
    NBP Working Papers, Narodowy Bank Polski View citations (171)
    Also in Working Papers, Barcelona School of Economics (2011) View citations (220)
    Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (2011) View citations (222)
    2011 Meeting Papers, Society for Economic Dynamics (2011) View citations (219)
    NBER Working Papers, National Bureau of Economic Research, Inc (2011) View citations (220)
    2010 Meeting Papers, Society for Economic Dynamics (2010) View citations (15)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2011) View citations (219)
    See also Chapter Unemployment in an Estimated New Keynesian Model, NBER Chapters, National Bureau of Economic Research, Inc (2011) View citations (134) (2011)
    Journal Article Unemployment in an Estimated New Keynesian Model, NBER Macroeconomics Annual, University of Chicago Press (2012) View citations (171) (2012)

2010

12. Risk Premiums and Macroeconomic Dynamics in a Heterogeneous Agent Model
    Working Paper Series, Sveriges Riksbank (Central Bank of Sweden) View citations (25)
    Also in Working Paper Research, National Bank of Belgium (2008) View citations (3)
    DEM Discussion Paper Series, Department of Economics at the University of Luxembourg (2009) View citations (2)
    See also Journal Article Risk premiums and macroeconomic dynamics in a heterogeneous agent model, Journal of Economic Dynamics and Control, Elsevier (2010) View citations (25) (2010)

2009

13. Estimating a medium–scale DSGE model with expectations based on small forecasting models
    2009 Meeting Papers, Society for Economic Dynamics View citations (10)
14. Learning in an Estimated Medium-Scale DSGE Model
    CERGE-EI Working Papers, The Center for Economic Research and Graduate Education - Economics Institute, Prague View citations (20)
    See also Journal Article Learning in an estimated medium-scale DSGE model, Journal of Economic Dynamics and Control, Elsevier (2012) View citations (86) (2012)
15. Sequential Bargaining in a New-Keynesian Model with Frictional Unemployment and Staggered Wage Negotiation
    IZA Discussion Papers, Institute of Labor Economics (IZA) View citations (18)
    Also in Working Paper Series, European Central Bank (2009) View citations (17)
    Working Paper Research, National Bank of Belgium (2009) View citations (19)
    BCL working papers, Central Bank of Luxembourg (2008) View citations (5)
    See also Journal Article Sequential Bargaining in a Neo-Keynesian Model with Frictional Unemployment and Staggered Wage Negotiations, Annals of Economics and Statistics, GENES (2009) View citations (21) (2009)

2007

16. Dynamics and monetary policy in a fair wage model of the business cycle
    Working Paper Series, European Central Bank View citations (5)
    Also in Discussion Papers (ECON - Département des Sciences Economiques), Université catholique de Louvain, Département des Sciences Economiques (2006) View citations (7)
    Working Paper Research, National Bank of Belgium (2006) View citations (5)
    LIDAM Discussion Papers CORE, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) (2006) View citations (5)
17. Learning dynamics in an estimated medium-sized DSGE model
    2007 Meeting Papers, Society for Economic Dynamics View citations (5)
18. Shocks and Frictions in US Business Cycles: A Bayesian DSGE Approach
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3916)
    Also in Working Paper Research, National Bank of Belgium (2007) View citations (3841)
    Working Paper Series, European Central Bank (2007) View citations (4322)
    See also Journal Article Shocks and Frictions in US Business Cycles: A Bayesian DSGE Approach, American Economic Review, American Economic Association (2007) View citations (4277) (2007)

2006

19. Firm-Specific Production Factors in a DSGE Model with Taylor Price Setting
    MPRA Paper, University Library of Munich, Germany View citations (29)
    Also in Working Paper Research, National Bank of Belgium (2006) View citations (30)
    Working Paper Series, European Central Bank (2006) View citations (31)
    See also Journal Article Firm-Specific Production Factors in a DSGE Model with Taylor Price Setting, International Journal of Central Banking, International Journal of Central Banking (2006) View citations (32) (2006)
20. Nominal Wage Rigidities in a New Keynesian Model with Frictional Unemployment
    IZA Discussion Papers, Institute of Labor Economics (IZA) View citations (26)
    Also in Working Paper Research, National Bank of Belgium (2006) View citations (25)

2005

21. On the Fit and Forecasting Performance of New Keynesian Models
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (85)
    Also in FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (2004) View citations (30)
    Working Paper Series, European Central Bank (2005) View citations (109)
22. Price setting in General Equilibrium: Alternative Specifications
    Computing in Economics and Finance 2005, Society for Computational Economics View citations (12)

2004

23. Comparing Shocks and Frictions in US and Euro Area Business Cycles: A Bayesian DSGE Approach
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (67)
    Also in Working Paper Series, European Central Bank (2004) View citations (53)
    Working Paper Research, National Bank of Belgium (2004) View citations (45)
    See also Journal Article Comparing shocks and frictions in US and euro area business cycles: a Bayesian DSGE Approach, Journal of Applied Econometrics, John Wiley & Sons, Ltd. (2005) View citations (403) (2005)
24. Forecasting with a Bayesian DSGE Model: An Application to the Euro Area
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (128)
    Also in Working Paper Series, European Central Bank (2004) View citations (131)
    Working Paper Research, National Bank of Belgium (2004) View citations (122)
    See also Journal Article Forecasting with a Bayesian DSGE Model: An Application to the Euro Area, Journal of Common Market Studies, Wiley Blackwell (2004) View citations (128) (2004)
25. Welfare analysis of non-fundamental asset price and investment shocks: Implications for monetary policy
    Computing in Economics and Finance 2004, Society for Computational Economics View citations (2)
    See also Chapter Welfare analysis of non-fundamental asset price and investment shocks: implications for monetary policy, BIS Papers chapters, Bank for International Settlements (2005) View citations (2) (2005)

2003

26. Output gaps:theory versus practice
    Computing in Economics and Finance 2003, Society for Computational Economics View citations (8)

2002

27. An estimated dynamic stochastic general equilibrium model of the euro area
    Working Paper Research, National Bank of Belgium View citations (156)
    See also Journal Article An Estimated Dynamic Stochastic General Equilibrium Model of the Euro Area, Journal of the European Economic Association, MIT Press (2003) View citations (3685) (2003)
28. An estimated stochastic dynamic general equilibrium model of the euro area
    Working Paper Series, European Central Bank View citations (51)
29. Openness, imperfect exchange rate pass-through and monetary policy
    Working Paper Research, National Bank of Belgium View citations (289)
    Also in Working Paper Series, European Central Bank (2002) View citations (317)
    See also Journal Article Openness, imperfect exchange rate pass-through and monetary policy, Journal of Monetary Economics, Elsevier (2002) View citations (294) (2002)
30. Output and interest rate gaps: Theory versus practice
    Computing in Economics and Finance 2002, Society for Computational Economics View citations (3)

2001

31. Determinanten van de debetrentes toegepast door Belgische kredietinstellingen
    Working Paper Document, National Bank of Belgium View citations (1)

2000

32. Model-Based Forecasts and Monetary Policy Rules
    Working Papers, Warwick - Development Economics Research Centre View citations (1)
33. Model-based inflation forecasts and monetary policy rules
    Working Paper Research, National Bank of Belgium View citations (8)
34. OPTIMAL MONETARY POLICY IN AN OPEN ECONOMY
    Computing in Economics and Finance 2000, Society for Computational Economics View citations (19)

Journal Articles

2023

1. Low pass-through and international synchronization in general equilibrium: Reassessing vertical integration
   Journal of International Economics, 2023, 140, (C) View citations (1)
2. The risk premium in New Keynesian DSGE models: The cost of inflation channel
   Journal of Economic Dynamics and Control, 2023, 155, (C) View citations (3)
   See also Working Paper The risk premium in New Keynesian DSGE models: The cost of inflation channel, LIDAM Reprints LFIN (2023) View citations (1) (2023)

2021

3. Survey Expectations and Learning
   Russian Journal of Money and Finance, 2021, 80, (2), 3-27

2016

4. The transmission mechanism of new and traditional instruments of monetary and macroprudential policy
   Economic Review, 2016, (iii), 105-117

2014

5. Endogenous risk in a DSGE model with capital-constrained financial intermediaries
   Journal of Economic Dynamics and Control, 2014, 43, (C), 241-268 View citations (29)
   See also Working Paper Endogenous risk in a DSGE model with capital-constrained financial intermediaries, Working Paper Research (2012) View citations (15) (2012)
6. Professional forecasters and real-time forecasting with a DSGE model
   International Journal of Forecasting, 2014, 30, (4), 981-995 View citations (32)

2012

7. Endogenous financial risk: The seventh international conference of the NBB
   Economic Review, 2012, (iii), 135-146
8. Learning in a Medium-Scale DSGE Model with Expectations Based on Small Forecasting Models
   American Economic Journal: Macroeconomics, 2012, 4, (2), 65-101 View citations (95)
9. Learning in an estimated medium-scale DSGE model
   Journal of Economic Dynamics and Control, 2012, 36, (1), 26-46 View citations (86)
   See also Working Paper Learning in an Estimated Medium-Scale DSGE Model, CERGE-EI Working Papers (2009) View citations (20) (2009)
10. Slow Recoveries: A Structural Interpretation
    Journal of Money, Credit and Banking, 2012, 44, (s2), 9-30 View citations (37)
    Also in Journal of Money, Credit and Banking, 2012, 44, 9-30 (2012) View citations (109)
    See also Working Paper Slow Recoveries: A Structural Interpretation, NBER Working Papers (2012) View citations (108) (2012)
11. Unemployment in an Estimated New Keynesian Model
    NBER Macroeconomics Annual, 2012, 26, (1), 329 - 360 View citations (171)
    See also Working Paper Unemployment in an Estimated New Keynesian Model, NBP Working Papers (2012) View citations (171) (2012)
    Chapter Unemployment in an Estimated New Keynesian Model, NBER Chapters, 2011, 329-360 (2011) View citations (134) (2011)

2010

12. Risk premiums and macroeconomic dynamics in a heterogeneous agent model
    Journal of Economic Dynamics and Control, 2010, 34, (9), 1680-1699 View citations (25)
    See also Working Paper Risk Premiums and Macroeconomic Dynamics in a Heterogeneous Agent Model, Working Paper Series (2010) View citations (25) (2010)

2009

13. A NOTE ON INFLATION PERSISTENCE IN A FAIR WAGE MODEL OF THE BUSINESS CYCLE
    Macroeconomic Dynamics, 2009, 13, (5), 673-684 View citations (18)
14. A structural decomposition of the US yield curve
    Journal of Monetary Economics, 2009, 56, (4), 545-559 View citations (69)
15. Sequential Bargaining in a Neo-Keynesian Model with Frictional Unemployment and Staggered Wage Negotiations
    Annals of Economics and Statistics, 2009, (95-96), 223-250 View citations (21)
    See also Working Paper Sequential Bargaining in a New-Keynesian Model with Frictional Unemployment and Staggered Wage Negotiation, IZA Discussion Papers (2009) View citations (18) (2009)

2007

16. On the Fit of New Keynesian Models
    Journal of Business & Economic Statistics, 2007, 25, 123-143 View citations (408)
17. Rejoinder
    Journal of Business & Economic Statistics, 2007, 25, 159-162
18. Shocks and Frictions in US Business Cycles: A Bayesian DSGE Approach
    American Economic Review, 2007, 97, (3), 586-606 View citations (4277)
    See also Working Paper Shocks and Frictions in US Business Cycles: A Bayesian DSGE Approach, CEPR Discussion Papers (2007) View citations (3916) (2007)

2006

19. Firm-Specific Production Factors in a DSGE Model with Taylor Price Setting
    International Journal of Central Banking, 2006, 2, (3) View citations (32)
    See also Working Paper Firm-Specific Production Factors in a DSGE Model with Taylor Price Setting, MPRA Paper (2006) View citations (29) (2006)
20. Price Shocks in General Equilibrium: Alternative Specifications
    CESifo Economic Studies, 2006, 52, (1), 153-176 View citations (19)

2005

21. Bayesian New Neoclassical Synthesis (NNS) Models: Modern Tools for Central Banks
    Journal of the European Economic Association, 2005, 3, (2-3), 422-433 View citations (24)
22. Comparing shocks and frictions in US and euro area business cycles: a Bayesian DSGE Approach
    Journal of Applied Econometrics, 2005, 20, (2), 161-183 View citations (403)
    Also in Journal of Applied Econometrics, 2005, 20, (2), 161-183 (2005) View citations (30)
    See also Working Paper Comparing Shocks and Frictions in US and Euro Area Business Cycles: A Bayesian DSGE Approach, CEPR Discussion Papers (2004) View citations (67) (2004)

2004

23. Economic cycles in the United States and in the euro area: determinants, scale and linkages
    Economic Review, 2004, (iii), 59-82
24. Forecasting with a Bayesian DSGE Model: An Application to the Euro Area
    Journal of Common Market Studies, 2004, 42, (4), 841-867 View citations (128)
    See also Working Paper Forecasting with a Bayesian DSGE Model: An Application to the Euro Area, CEPR Discussion Papers (2004) View citations (128) (2004)

2003

25. An Estimated Dynamic Stochastic General Equilibrium Model of the Euro Area
    Journal of the European Economic Association, 2003, 1, (5), 1123-1175 View citations (3685)
    See also Working Paper An estimated dynamic stochastic general equilibrium model of the euro area, Working Paper Research (2002) View citations (156) (2002)

2002

26. Monetary policy in an estimated stochastic dynamic general equilibrium model of the Euro area
    Proceedings, 2002, (Mar) View citations (62)
27. Openness, imperfect exchange rate pass-through and monetary policy
    Journal of Monetary Economics, 2002, 49, (5), 947-981 View citations (294)
    See also Working Paper Openness, imperfect exchange rate pass-through and monetary policy, Working Paper Research (2002) View citations (289) (2002)

1997

28. Interest rates and household absorption in Belgium
    Journal of Policy Modeling, 1997, 19, (2), 129-152

Chapters

2016

1. Challenges for Central Banks’ Macro Models
   Elsevier View citations (16)

2011

2. Unemployment in an Estimated New Keynesian Model
   A chapter in NBER Macroeconomics Annual 2011, Volume 26, 2011, pp 329-360 View citations (134)
   See also Working Paper Unemployment in an Estimated New Keynesian Model, Narodowy Bank Polski (2012) View citations (171) (2012)
   Journal Article Unemployment in an Estimated New Keynesian Model, University of Chicago Press (2012) View citations (171) (2012)

2005

3. Welfare analysis of non-fundamental asset price and investment shocks: implications for monetary policy
   A chapter in Investigating the relationship between the financial and real economy, 2005, vol. 22, pp 146-65 View citations (2)
   See also Working Paper Welfare analysis of non-fundamental asset price and investment shocks: Implications for monetary policy, Society for Computational Economics (2004) View citations (2) (2004)