Rafael Wouters

National Bank of Belgium

Brussels, B-1000

Belgium

SCHOLARLY PAPERS

27

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TOTAL CITATIONS
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Top 207

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2,616

Scholarly Papers (27)

Shocks and Frictions in US Business Cycles: A Bayesian DSGE Approach

National Bank of Belgium Working Paper No. 109
Number of pages: 58 Posted: 07 Oct 2010
Frank Smets and Rafael Wouters
Ghent University - Department of General Economics and National Bank of Belgium
Downloads 1,834 (19,682)
Citation 731

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DSGE models, monetary policy

Shocks and Frictions in Us Business Cycles: A Bayesian DSGE Approach

ECB Working Paper No. 722
Number of pages: 57 Posted: 07 Feb 2007
Frank Smets and Rafael Wouters
Ghent University - Department of General Economics and National Bank of Belgium
Downloads 928 (53,577)
Citation 502

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DSGE models, monetary policy

2.

An Estimated Stochastic Dynamic General Equilibrium Model of the Euro Area

Number of pages: 70 Posted: 14 May 2003
Frank Smets and Rafael Wouters
Ghent University - Department of General Economics and National Bank of Belgium
Downloads 838 (62,612)
Citation 183

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SDGE models, monetary policy, euro area

3.

Challenges for Central Banks’ Macro Models

Riksbank Research Paper Series No. 147, Sveriges Riksbank Working Paper Series No. 323
Number of pages: 88 Posted: 23 May 2016
Jesper Lindé, Frank Smets and Rafael Wouters
Sveriges Riksbank - Research Division, Ghent University - Department of General Economics and National Bank of Belgium
Downloads 823 (64,117)
Citation 17

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Monetary policy, DSGE, and VAR models, Regime-Switching, Zero Lower Bound, Financial Frictions, Great Recession, Macroprudential policy, Open economy

On the Fit and Forecasting Performance of New Keynesian Models

ECB Working Paper No. 491, FRB of Atlanta Working Paper No. 2004-37
Number of pages: 58 Posted: 11 Feb 2005
Federal Reserve Bank of New York, University of Pennsylvania - Department of Economics, Ghent University - Department of General Economics and National Bank of Belgium
Downloads 338 (188,088)
Citation 57

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Bayesian analysis, DSGE models, model evaluation, vector autoregressions

On the Fit and Forecasting Performance of New Keynesian Models

Number of pages: 51 Posted: 05 May 2005
Federal Reserve Bank of New York, University of Pennsylvania - Department of Economics, Ghent University - Department of General Economics and National Bank of Belgium
Downloads 28 (1,067,289)
Citation 20
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Bayesian analysis, DSGE models, model evaluation, vector autoregression

Comparing Shocks and Frictions in US and Euro Area Business Cycles: A Bayesian DSGE Approach

National Bank of Belgium Working Paper No. 61
Number of pages: 36 Posted: 14 Oct 2010
Frank Smets and Rafael Wouters
Ghent University - Department of General Economics and National Bank of Belgium
Downloads 177 (359,560)
Citation 21

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DSGE models, business cycle fluctuations

Comparing Shocks and Frictions in Us and Euro Area Business Cycles: A Bayesian DSGE Approach

Number of pages: 36 Posted: 10 Dec 2004
Frank Smets and Rafael Wouters
Ghent University - Department of General Economics and National Bank of Belgium
Downloads 162 (388,841)
Citation 33

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DSGE models, business cycle fluctuations

Comparing Shocks and Frictions in Us and Euro Area Business Cycles: A Bayesian DSGE Approach

Number of pages: 28 Posted: 08 Feb 2005
Frank Smets and Rafael Wouters
Ghent University - Department of General Economics and National Bank of Belgium
Downloads 22 (1,143,765)
Citation 17
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DSGE models, business cycle fluctuations

The Risk Premium in New Keynesian DSGE Models: The Cost of Inflation Channel

Number of pages: 36 Posted: 17 Sep 2022
Pavel Tretiakov, Leonardo Iania and Rafael Wouters
UCLouvain - UCLouvain, Louvain School of Management - Louvain Finance, Université catholique de Louvain and National Bank of Belgium
Downloads 243 (265,862)

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Macro-finance, DSGE, Term premia

The Risk Premium in New Keynesian DSGE Models: The Cost of Inflation Channel

Number of pages: 36 Posted: 09 Sep 2022
Leonardo Iania, Pavel Tretiakov and Rafael Wouters
Université catholique de Louvain, UCLouvain - UCLouvain, Louvain School of Management - Louvain Finance and National Bank of Belgium
Downloads 97 (584,593)

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Macro-finance, DSGE, Term premia

Openness, Imperfect Exchange Rate Pass-Through and Monetary Policy

Number of pages: 52 Posted: 20 Jan 2003
Frank Smets and Rafael Wouters
Ghent University - Department of General Economics and National Bank of Belgium
Downloads 262 (246,409)
Citation 19

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Monetary Policy, Open Economies, Exchange Rate Pass-through

Openness, Imperfect Exchange Rate Pass-Through and Monetary Policy

National Bank of Belgium Working Paper No. 19
Number of pages: 57 Posted: 06 Nov 2010
Frank Smets and Rafael Wouters
Ghent University - Department of General Economics and National Bank of Belgium
Downloads 72 (701,599)
Citation 3

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Monetary Policy, Open Economies, Exchange Rate Pass-Through

Forecasting with a Bayesian DSGE Model: An Application to the Euro Area

Number of pages: 33 Posted: 10 Dec 2004
Frank Smets and Rafael Wouters
Ghent University - Department of General Economics and National Bank of Belgium
Downloads 226 (285,623)

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Forecasting, DSGE models, monetary policy, euro area

Forecasting with a Bayesian DSGE Model: An Application to the Euro Area

National Bank of Belgium Working Paper No. 60
Number of pages: 36 Posted: 14 Oct 2010
Frank Smets and Rafael Wouters
Ghent University - Department of General Economics and National Bank of Belgium
Downloads 76 (680,254)
Citation 152

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forecasting, DSGE models, monetary policy, euro area

Forecasting with a Bayesian DSGE Model: An Application to the Euro Area

Number of pages: 30 Posted: 08 Feb 2005
Frank Smets and Rafael Wouters
Ghent University - Department of General Economics and National Bank of Belgium
Downloads 23 (1,130,465)
Citation 3
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DSGE models, monetary policy, euro area, forecasting

Nominal Wage Rigidities in a New Keynesian Model with Frictional Unemployment

IZA Discussion Paper No. 2528
Number of pages: 40 Posted: 16 Jan 2007
Catholic University of Louvain (UCL) - Department of Economics, National Bank of BelgiumFacultés Universitaires Notre-Dame de la Paix (FUNDP) - Faculty of Economics, Management and Social Sciences, Banque Centrale du Luxembourg, Catholic University of Louvain (UCL) - Institut de Recherches Economiques et Sociales (IRES) and National Bank of Belgium
Downloads 165 (382,720)
Citation 3

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DSGE, search and matching, nominal wage rigidity, monetary policy

Nominal Wage Rigidities in a New Keynesian Model with Frictional Unemployment

National Bank of Belgium Working Paper No. 97
Number of pages: 45 Posted: 09 Oct 2010
Catholic University of Louvain (UCL) - Department of Economics, National Bank of BelgiumFacultés Universitaires Notre-Dame de la Paix (FUNDP) - Faculty of Economics, Management and Social Sciences, Banque Centrale du Luxembourg, Catholic University of Louvain (UCL) - Institut de Recherches Economiques et Sociales (IRES) and National Bank of Belgium
Downloads 113 (522,121)
Citation 13

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DSGE, Search and Matching, Nominal Wage Rigidity, Monetary Policy

10.
Downloads 268 (242,444)
Citation 70

Unemployment in an Estimated New Keynesian Model

National Bank of Poland Working Paper No. 106
Number of pages: 46 Posted: 17 Feb 2012
Jordi Galí, Frank Smets and Rafael Wouters
Universitat Pompeu Fabra (UPF) - Centre de Recerca en Economia Internacional (CREI), Ghent University - Department of General Economics and National Bank of Belgium
Downloads 209 (307,924)
Citation 32

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nominal rigidities, unemployment fluctuations, Phillips curve, wage markups shocks, output gap

Unemployment in an Estimated New Keynesian Model

NBER Working Paper No. w17084
Number of pages: 53 Posted: 31 May 2011 Last Revised: 08 Mar 2023
Jordi Galí, Frank Smets and Rafael Wouters
Universitat Pompeu Fabra (UPF) - Centre de Recerca en Economia Internacional (CREI), Ghent University - Department of General Economics and National Bank of Belgium
Downloads 54 (817,048)
Citation 30

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Unemployment in an Estimated New Keynesian Model

CEPR Discussion Paper No. DP8401
Number of pages: 55 Posted: 26 May 2011
Jordi Galí, Frank Smets and Rafael Wouters
Universitat Pompeu Fabra (UPF) - Centre de Recerca en Economia Internacional (CREI), Ghent University - Department of General Economics and National Bank of Belgium
Downloads 5 (1,348,279)
Citation 8
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Nominal rigidities, output gap, Phillips curve, unemployment fluctuations, wage markup shocks

Risk Premiums and Macroeconomic Dynamics in a Heterogeneous Agent Model

Riksbank Research Paper Series No. 67, Sveriges Riksbank Working Paper Series No. 236
Number of pages: 41 Posted: 29 May 2010
KU Leuven - Center for Economic Studies, National Bank of Belgium, National Bank of Belgium - Research Department, Catholic University of Louvain (UCL) - Institut de Recherches Economiques et Sociales (IRES) and National Bank of Belgium
Downloads 107 (544,437)
Citation 6

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Risk Premiums and Macroeconomic Dynamics in a Heterogeneous Agent Model

National Bank of Belgium Working Paper No. 150
Number of pages: 60 Posted: 01 Oct 2010
KU Leuven - Center for Economic Studies, National Bank of Belgium, National Bank of Belgium - Research Department, Catholic University of Louvain (UCL) - Institut de Recherches Economiques et Sociales (IRES) and National Bank of Belgium
Downloads 73 (696,131)
Citation 56

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Risk Premiums and Macroeconomic Dynamics in a Heterogeneous Agent Model

Number of pages: 37 Posted: 19 Nov 2008 Last Revised: 15 Oct 2009
KU Leuven - Center for Economic Studies, National Bank of Belgium, National Bank of Belgium - Research Department, Catholic University of Louvain (UCL) - Institut de Recherches Economiques et Sociales (IRES) and National Bank of Belgium
Downloads 65 (742,510)
Citation 1

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Heterogeneous agent, DSGE, Equity premium, Bond premium

12.

A Structural Decomposition of the US Yield Curve

Number of pages: 72 Posted: 19 Nov 2008
Ferre De Graeve, Marina Emiris and Rafael Wouters
KU Leuven - Center for Economic Studies, National Bank of Belgium - Research Department and National Bank of Belgium
Downloads 229 (283,417)
Citation 19

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Term structure, DSGE, Expectation hypothesis, Bayesian estimation

Firm-Specific Production Factors in a DSGE Model with Taylor Price Setting

ECB Working Paper No. 648
Number of pages: 48 Posted: 30 Jun 2006
National Bank of BelgiumFacultés Universitaires Notre-Dame de la Paix (FUNDP) - Faculty of Economics, Management and Social Sciences, Ghent University - Department of General Economics and National Bank of Belgium
Downloads 177 (359,560)
Citation 1

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Inflation persistence, DSGE models

Firm-Specific Production Factors in a DSGE Model with Taylor Price Setting

National Bank of Belgium Working Paper No. 85
Number of pages: 45 Posted: 09 Oct 2010
National Bank of BelgiumFacultés Universitaires Notre-Dame de la Paix (FUNDP) - Faculty of Economics, Management and Social Sciences, Ghent University - Department of General Economics and National Bank of Belgium
Downloads 51 (840,085)
Citation 148

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Inflation Persistence, DSGE Models

Dynamics and Monetary Policy in a Fair Wage Model of the Business Cycle

ECB Working Paper No. 780, CORE Discussion Paper No. 2006/106
Number of pages: 51 Posted: 14 Mar 2007
Catholic University of Louvain (UCL) - Institut de Recherches Economiques et Sociales (IRES), National Bank of BelgiumFacultés Universitaires Notre-Dame de la Paix (FUNDP) - Faculty of Economics, Management and Social Sciences and National Bank of Belgium
Downloads 151 (413,239)

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Efficiency wage, effort, inflation persistence, monetary policy

Dynamics and Monetary Policy in a Fair Wage Model of the Business Cycle

National Bank of Belgium Working Paper No. 98
Number of pages: 49 Posted: 09 Oct 2010
Catholic University of Louvain (UCL) - Institut de Recherches Economiques et Sociales (IRES), National Bank of BelgiumFacultés Universitaires Notre-Dame de la Paix (FUNDP) - Faculty of Economics, Management and Social Sciences and National Bank of Belgium
Downloads 42 (918,082)
Citation 103

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Efficiency wage, effort, inflation persistence, monetary policy

15.

An Estimated Dynamic Stochastic General Equilibrium Model of the Euro Area

National Bank of Belgium Working Paper No. 35
Number of pages: 71 Posted: 14 Oct 2010
Frank Smets and Rafael Wouters
Ghent University - Department of General Economics and National Bank of Belgium
Downloads 183 (349,761)
Citation 316

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DSGE models, monetary policy, euro area

16.

Inflation Expectations and Term Premium

Number of pages: 41 Posted: 12 Aug 2022 Last Revised: 28 Feb 2024
Elizaveta Lukmanova and Rafael Wouters
Central Bank of Ireland and National Bank of Belgium
Downloads 182 (351,480)

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Expectations, Perceived inflation target, Financial markets, Term premium, Natural rate, Imperfect information

17.

Endogenous Risk in a DSGE Model with Capital-Constrained Financial Intermediaries

National Bank of Belgium Working Paper No. 235
Number of pages: 63 Posted: 14 Oct 2012
Hans Dewachter and Rafael Wouters
Catholic University of Leuven (KUL) - Department of Economics and National Bank of Belgium
Downloads 182 (351,480)
Citation 43

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18.

Learning in an Estimated Medium-Scale DSGE Model

CERGE-EI Working Paper Series No. 396
Number of pages: 70 Posted: 30 Nov 2009
Sergey Slobodyan, Sergey Slobodyan and Rafael Wouters
Charles University in Prague - CERGE-EI, a joint workplace of Charles University and the Economics Institute of the Czech Academy of SciencesHSE Moscow and National Bank of Belgium
Downloads 178 (358,476)
Citation 32

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constant gain adaptive learning, medium–scale DSGE model, DSGE–VAR

Sequential Bargaining in a New Keynesian Model with Frictional Unemployment and Staggered Wage Negotiation

National Bank of Belgium Working Paper No. 157
Number of pages: 39 Posted: 28 Sep 2010
National Bank of BelgiumFacultés Universitaires Notre-Dame de la Paix (FUNDP) - Faculty of Economics, Management and Social Sciences, Banque Centrale du Luxembourg, Catholic University of Louvain (UCL) - Institut de Recherches Economiques et Sociales (IRES) and National Bank of Belgium
Downloads 84 (641,113)
Citation 3

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DSGE, Search and Matching, Nominal Wage Rigidity, Monetary Policy

Sequential Bargaining in a New-Keynesian Model with Frictional Unemployment and Staggered Wage Negotiation

IZA Discussion Paper No. 4059
Number of pages: 32 Posted: 30 Mar 2009
National Bank of BelgiumFacultés Universitaires Notre-Dame de la Paix (FUNDP) - Faculty of Economics, Management and Social Sciences, Banque Centrale du Luxembourg, Catholic University of Louvain (UCL) - Institut de Recherches Economiques et Sociales (IRES) and National Bank of Belgium
Downloads 62 (761,412)
Citation 1

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DSGE, search and matching, nominal wage rigidity, monetary policy

20.

Sequential Bargaining in a New-Keynesian Model with Frictional Unemployment and Wage Negotiation

ECB Working Paper No. 1007
Number of pages: 39 Posted: 19 Feb 2009
National Bank of BelgiumFacultés Universitaires Notre-Dame de la Paix (FUNDP) - Faculty of Economics, Management and Social Sciences, Banque Centrale du Luxembourg, Catholic University of Louvain (UCL) - Institut de Recherches Economiques et Sociales (IRES) and National Bank of Belgium
Downloads 88 (615,472)

Abstract:

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DSGE, Search and Matching, Nominal Wage Rigidity, Monetary Policy

21.

Professional Forecasters and the Real-time Forecasting Performance of an Estimated New Keynesian Model for the Euro Area

ECB Working Paper No. 1571
Number of pages: 30 Posted: 12 Aug 2013
Frank Smets, Anders Warne and Rafael Wouters
Ghent University - Department of General Economics, European Central Bank (ECB) and National Bank of Belgium
Downloads 77 (665,543)
Citation 2

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Bayesian methods, DSGE model, real-time database, Survey of Professional Forecasters, macroeconomic forecasting, estimated New Keynesian model, euro area

22.

Model-Based Inflation Forecasts and Monetary Policy Rules

National Bank of Belgium Working Paper No. 1
Number of pages: 44 Posted: 09 Nov 2010
Rafael Wouters and Michel Dombrecht
National Bank of Belgium and National Bank of Belgium
Downloads 62 (747,505)
Citation 12

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23.
Downloads 60 (759,913)
Citation 26

Slow Recoveries: A Structural Interpretation

NBER Working Paper No. w18085
Number of pages: 39 Posted: 19 May 2012 Last Revised: 02 Jun 2023
Jordi Galí, Frank Smets and Rafael Wouters
Universitat Pompeu Fabra (UPF) - Centre de Recerca en Economia Internacional (CREI), Ghent University - Department of General Economics and National Bank of Belgium
Downloads 53 (824,553)
Citation 7

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Slow Recoveries: A Structural Interpretation

CEPR Discussion Paper No. DP8978
Number of pages: 41 Posted: 28 Sep 2012
Jordi Galí, Frank Smets and Rafael Wouters
Universitat Pompeu Fabra (UPF) - Centre de Recerca en Economia Internacional (CREI), Ghent University - Department of General Economics and National Bank of Belgium
Downloads 7 (1,332,601)
Citation 19
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estimated DSGE models, Jobless recoveries, Okun's law, U.S. business cycle

24.

Restricted Perceptions, Regime Switches and the Effective Lower Bound

Number of pages: 58 Posted: 21 May 2022
Tolga Ozden and Rafael Wouters
Government of Canada - Bank of Canada and National Bank of Belgium
Downloads 55 (793,190)
Citation 2

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Adaptive Learning, Markov-Switching, Effective Lower Bound.

25.

Shocks and Frictions in U.S. Business Cycles: A Bayesian DSGE Approach

CEPR Discussion Paper No. DP6112
Number of pages: 53 Posted: 16 May 2008
Frank Smets and Rafael Wouters
Ghent University - Department of General Economics and National Bank of Belgium
Downloads 17 (1,172,801)
Citation 1
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Business cycle, DSGE models, monetary policy

26.

Challenges for Central Banks' Macro Models

CEPR Discussion Paper No. DP11405
Number of pages: 90 Posted: 25 Jul 2016
Jesper Lindé, Frank Smets and Rafael Wouters
Sveriges Riksbank, Ghent University - Department of General Economics and National Bank of Belgium
Downloads 1 (1,315,420)
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and VAR models, DSGE, Financial Frictions, great recession, macroprudential policy, Monetary policy, Open economy., Regime-Switching, zero lower bound

27.

Price Shocks in General Equilibrium: Alternative Specifications

CESifo Economic Studies, Vol. 52, Issue 1, pp. 153-176, 2006
Posted: 02 Jul 2008
Gregory de Walque, Frank Smets and Rafael Wouters
affiliation not provided to SSRN, Ghent University - Department of General Economics and National Bank of Belgium

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sticky prices, DSGE models, business cycle fluctuations