Michael Scharnagl

Deutsche Bundesbank

Wilhelm-Epstein-Str. 14

Frankfurt/Main, 60431

Germany

  • Deutsche Bundesbank

SCHOLARLY PAPERS

17

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53

Scholarly Papers (17)

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1.

Real and Financial Cycles in EU Countries: Stylised Facts and Modelling Implications

Downloads 373 (168,032)
Citation 12

Real and Financial Cycles in EU Countries: Stylised Facts and Modelling Implications

ECB Occasional Paper No. 205, ISBN: 978-92-899-3364-3
Number of pages: 68 Posted: 11 Jan 2018
Gerhard Rünstler, Hiona Balfoussia, Lorenzo Burlon, Ginters Buss, Mariarosaria Comunale, Bruno De Backer, Hans Dewachter, Paolo Guarda, Markus Haavio, Irma Hindrayanto, Nikolay I. Iskrev, Ivan Jaccard, Dmitry Kulikov, Davor Kunovac, Črt Lenarčič, Matthieu Lequien, Matija Lozej, Martin Mandler, Dimitris Papageorgiou, Jesper Pedersen, Gabriel Perez-Quiros, Ansgar Rannenberg, Eyno Rots, Michael Scharnagl and Peter Welz
European Central Bank, Bank of Greece, European Central Bank (ECB), Bank of Latvia, Bank of Lithuania - Economics Department, National Bank of Belgium, Catholic University of Leuven (KUL) - Department of Economics, Banque Centrale du Luxembourg, Bank of Finland - Research, De Nederlandsche Bank, Bank of Portugal - Economic Research Department, European Central Bank (ECB) - Directorate General Research, Bank of Estonia, Croatian National Bank, Bank of Slovenia, Banque de France, Central Bank of Ireland, Deutsche Bundesbank - Economics Department, Bank of Greece, National Bank of Denmark, Banco de España, Hans-Boeckler-Stiftung - Macroeconomic Policy Institute (IMK), Magyar Nemzeti Bank, Deutsche Bundesbank and European Central Bank (ECB)
Downloads 258 (246,717)
Citation 10

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financial cycles, synchronicity, real-time estimates, DSGE models

Real and Financial Cycles in EU Countries - Stylised Facts and Modelling Implications

ECB Occasional Paper No. 2018/205
Number of pages: 68 Posted: 09 Oct 2021
Gerhard Rünstler, Hiona Balfoussia, Lorenzo Burlon, Ginters Buss, Mariarosaria Comunale, Bruno De Backer, Hans Dewachter, Paolo Guarda, Markus Haavio, Irma Hindrayanto, Nikolay I. Iskrev, Ivan Jaccard, Dmitry Kulikov, Davor Kunovac, Črt Lenarčič, Matthieu Lequien, Matija Lozej, Martin Mandler, Dimitris Papageorgiou, Jesper Pedersen, Gabriel Perez-Quiros, Ansgar Rannenberg, Eyno Rots, Michael Scharnagl and Peter Welz
European Central Bank, Bank of Greece, European Central Bank (ECB), Bank of Latvia, Bank of Lithuania - Economics Department, National Bank of Belgium, National Bank of Belgium, Banque Centrale du Luxembourg, Bank of Finland - Research, De Nederlandsche Bank, Bank of Portugal - Economic Research Department, European Central Bank (ECB) - Directorate General Research, Bank of Estonia, Croatian National Bank, Bank of Slovenia, Banque de France, Central Bank of Ireland, Deutsche Bundesbank - Economics Department, Bank of Greece, National Bank of Denmark, Banco de España, Central Bank of Ireland, Magyar Nemzeti Bank, Deutsche Bundesbank and European Central Bank (ECB)
Downloads 115 (506,845)
Citation 2

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DSGE models, financial cycles, real-time estimates, synchronicity

2.

Loan Supply in Germany During the Financial Crisis

Bundesbank Series 1 Discussion Paper No. 2010,05
Number of pages: 40 Posted: 08 Jun 2016
Ulrike Busch, Michael Scharnagl and Jan Scheithauer
Deutsche Bundesbank, Deutsche Bundesbank and Deutsche Bundesbank - Economics Department
Downloads 298 (214,122)
Citation 2

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Loan supply, Bayesian VAR, sign restrictions

3.

Financial Cycles in Euro Area Economies: A Cross-Country Perspective

Deutsche Bundesbank Discussion Paper No. 04/2018
Number of pages: 36 Posted: 28 Mar 2018
Davor Kunovac, Martin Mandler and Michael Scharnagl
Croatian National Bank, Deutsche Bundesbank - Economics Department and Deutsche Bundesbank
Downloads 216 (295,289)

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financial cycles, band-pass filter, principal components, wavelet analysis

4.

Heterogeneity in Euro-Area Monetary Policy Transmission: Results from a Large Multi-Country BVAR Model

Bundesbank Discussion Paper No. 03/2016
Number of pages: 39 Posted: 21 Jun 2016
Martin Mandler, Michael Scharnagl and Ute B. Volz
Deutsche Bundesbank - Economics Department, Deutsche Bundesbank and Deutsche Bundesbank
Downloads 215 (296,553)
Citation 1

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monetary policy, transmission mechanism, euro area, Bayesian vector autoregression

5.

Money Growth and Consumer Price Inflation in the Euro Area: A Wavelet Analysis

Bundesbank Discussion Paper No. 33/2014
Number of pages: 37 Posted: 21 Jun 2016
Martin Mandler and Michael Scharnagl
Deutsche Bundesbank - Economics Department and Deutsche Bundesbank
Downloads 198 (320,471)
Citation 19

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money growth, inflation, wavelet analysis

6.

Inflation, Deflation, and Uncertainty: What Drives Euro Area Option-Implied Inflation Expectations and are They Still Anchored in the Sovereign Debt Crisis?

Bundesbank Discussion Paper No. 24/2014
Number of pages: 40 Posted: 21 Jun 2016
Michael Scharnagl and Jelena Stapf
Deutsche Bundesbank and Deutsche Bundesbank
Downloads 171 (365,795)
Citation 1

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Inflation expectations, Deflation, Options, Monetary policy, Financial crisis

7.

Financial Cycles Across G7 Economies: A View from Wavelet Analysis

Deutsche Bundesbank Discussion Paper No. 22/2019
Number of pages: 64 Posted: 22 Apr 2019
Martin Mandler and Michael Scharnagl
Deutsche Bundesbank - Economics Department and Deutsche Bundesbank
Downloads 145 (420,191)
Citation 8

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financial cycles, wavelet analysis, cluster analysis, cross-country synchronisation

8.

Households’ Portfolio Structure in Germany - Analysis of Financial Accounts Data 1959-2009

Number of pages: 25 Posted: 22 Jul 2010
Michael Scharnagl and Fred Ramb
Deutsche Bundesbank and Deutsche Bundesbank, Economics Department, Monetary Policy and Monetary Analysis
Downloads 127 (466,749)

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Financial wealth, portfolio structure, household

9.

Household's Portfolio Structure in Germany - Analysis of Financial Accounts Data 1959-2009

ECB Working Paper No. 1355
Number of pages: 31 Posted: 16 Jun 2011
Fred Ramb and Michael Scharnagl
Deutsche Bundesbank, Economics Department, Monetary Policy and Monetary Analysis and Deutsche Bundesbank
Downloads 109 (524,129)

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financial wealth, portfolio structure, household

10.

Estimating the Effects of the Eurosystem's Asset Purchase Programme at the Country Level

Deutsche Bundesbank Discussion Paper No. 29/2020
Number of pages: 56 Posted: 30 Apr 2020 Last Revised: 18 Nov 2021
Martin Mandler and Michael Scharnagl
Deutsche Bundesbank - Economics Department and Deutsche Bundesbank
Downloads 99 (561,573)
Citation 3

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asset purchase programme, unconventional monetary policy, euro area, Bayesian vector autoregression, regional effects of monetary policy

11.

Reconsidering the Role of Monetary Indicators for Euro Area Inflation from a Bayesian Perspective Using Group Inclusion Probabilities

Downloads 96 (572,940)
Citation 5

Reconsidering the Role of Monetary Indicators for Euro Area Inflation from a Bayesian Perspective Using Group Inclusion Probabilities

Deutsche Bundesbank Economic Studies Discussion Paper No. 09/07
Number of pages: 40 Posted: 29 Jun 2007
Michael Scharnagl and Christian Schumacher
Deutsche Bundesbank and Deutsche Bundesbank
Downloads 62 (746,388)
Citation 5

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inflation forecasting, monetary indicators, Bayesian Model Averaging, inclusion probability

Reconsidering the Role of Monetary Indicators for Euro Area Inflation from a Bayesian Perspective Using Group Inclusion Probabilities

Bundesbank Series 1 Discussion Paper No. 2007,09
Number of pages: 40 Posted: 08 Jun 2016
Michael Scharnagl and Christian Schumacher
Deutsche Bundesbank and Deutsche Bundesbank
Downloads 34 (972,817)

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inflation forecasting, monetary indicators, Bayesian Model Averaging, inclusion probability

12.

Simple Interest Rate Rules with a Role for Money

Bundesbank Series 1 Discussion Paper No. 2007,31
Number of pages: 60 Posted: 08 Jun 2016
Michael Scharnagl, Christina Gerberding and Franz Seitz
Deutsche Bundesbank, Deutsche Bundesbank and Technical University of Applied Sciences Weiden
Downloads 87 (609,001)

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Monetary policy rules, euro area, data uncertainty

13.

Bank Loan Supply Shocks and Alternative Financing of Non-Financial Corporations in the Euro Area

Deutsche Bundesbank Discussion Paper No. 23/2019
Number of pages: 91 Posted: 22 Apr 2019
Martin Mandler and Michael Scharnagl
Deutsche Bundesbank - Economics Department and Deutsche Bundesbank
Downloads 85 (617,729)
Citation 1

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loan supply, external financing, Euro Area, Bayesian VAR, sign restrictions, joint posterior distribution

14.

How Effective are Automatic Stabilisers? Theory and Empirical Results for Germany and Other OECD Countries

Bundesbank Series 1 Discussion Paper No. 2004,21
Number of pages: 37 Posted: 08 Jun 2016
Michael Scharnagl and Karl-Heinz Todter
Deutsche Bundesbank and Deutsche Bundesbank - Research Department
Downloads 45 (848,942)

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Fiscal policy, automatic stabilisers, smoothing power, compensation method

15.

Geldmengenaggregate Unter Berücksichtigung Struktureller Veränderungen an Den Finanzmärkten

Bundesbank Series 1 Discussion Paper No. 1996,02
Number of pages: 68 Posted: 07 Jun 2016
Michael Scharnagl
Deutsche Bundesbank
Downloads 28 (1,009,748)

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16.

Monetary Aggregates with Special Reference to Structural Changes in the Financial Markets

Bundesbank Series 1 Discussion Paper No. 1996,02E
Number of pages: 64 Posted: 07 Jun 2016
Michael Scharnagl
Deutsche Bundesbank
Downloads 27 (1,020,843)
Citation 1

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17.

The Stability of German Money Demand: Not Just a Myth

Posted: 09 Nov 1998
Michael Scharnagl
Deutsche Bundesbank

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