Rafael Wouters

National Bank of Belgium

Brussels, B-1000

Belgium

SCHOLARLY PAPERS

27

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6,666

SSRN CITATIONS
Rank 110

SSRN RANKINGS

Top 110

in Total Papers Citations

2,092

CROSSREF CITATIONS

2,888

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
European Central Bank (ECB) and National Bank of Belgium
Downloads 1,561 (16,749)
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
European Central Bank (ECB) and National Bank of Belgium
Downloads 830 (41,972)
Citation 38

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DSGE models, monetary policy

2.

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, European Central Bank (ECB) and National Bank of Belgium
Downloads 699 (53,487)
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

3.

An Estimated Stochastic Dynamic General Equilibrium Model of the Euro Area

Number of pages: 70 Posted: 14 May 2003
Frank Smets and Rafael Wouters
European Central Bank (ECB) and National Bank of Belgium
Downloads 659 (57,650)
Citation 183

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SDGE models, monetary policy, euro area

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, European Central Bank (ECB) and National Bank of Belgium
Downloads 304 (142,369)
Citation 7

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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, European Central Bank (ECB) and National Bank of Belgium
Downloads 26 (688,631)
Citation 20
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Bayesian analysis, DSGE models, model evaluation, vector autoregression

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
European Central Bank (ECB) and National Bank of Belgium
Downloads 211 (204,666)

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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
European Central Bank (ECB) and National Bank of Belgium
Downloads 49 (548,241)
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
European Central Bank (ECB) and National Bank of Belgium
Downloads 20 (739,232)
Citation 3
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DSGE models, monetary policy, euro area, forecasting

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

Number of pages: 27 Posted: 29 Oct 2004
Frank Smets and Rafael Wouters
European Central Bank (ECB) and National Bank of Belgium
Downloads 18 (757,010)

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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
European Central Bank (ECB) and National Bank of Belgium
Downloads 142 (287,777)
Citation 14

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DSGE models, business cycle fluctuations

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
European Central Bank (ECB) and National Bank of Belgium
Downloads 121 (325,192)
Citation 187

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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
European Central Bank (ECB) and National Bank of Belgium
Downloads 20 (739,232)
Citation 18
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DSGE models, business cycle fluctuations

Openness, Imperfect Exchange Rate Pass-Through and Monetary Policy

Number of pages: 52 Posted: 20 Jan 2003
Frank Smets and Rafael Wouters
European Central Bank (ECB) and National Bank of Belgium
Downloads 233 (186,102)
Citation 8

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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
European Central Bank (ECB) and National Bank of Belgium
Downloads 49 (548,241)
Citation 38

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Monetary Policy, Open Economies, Exchange Rate Pass-Through

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 140 (291,056)

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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 87 (405,953)
Citation 109

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

9.

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 188 (227,245)
Citation 15

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Term structure, DSGE, Expectation hypothesis, Bayesian estimation

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 81 (424,009)
Citation 3

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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 48 (553,119)
Citation 1

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Heterogeneous agent, DSGE, Equity premium, Bond premium

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 38 (606,950)
Citation 55

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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, European Central Bank (ECB) and National Bank of Belgium
Downloads 140 (291,056)

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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, European Central Bank (ECB) and National Bank of Belgium
Downloads 27 (680,751)
Citation 120

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Inflation Persistence, DSGE Models

12.

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 146 (280,704)
Citation 32

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

13.

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 139 (291,743)
Citation 40

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14.
Downloads 125 (316,060)
Citation 58

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 - Centre de Recerca en Economia Internacional (CREI), European Central Bank (ECB) and National Bank of Belgium
Downloads 87 (405,953)
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: 07 Sep 2022
Jordi Galí, Frank Smets and Rafael Wouters
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI), European Central Bank (ECB) and National Bank of Belgium
Downloads 34 (631,628)
Citation 1

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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 - Centre de Recerca en Economia Internacional (CREI), European Central Bank (ECB) and National Bank of Belgium
Downloads 4 (909,389)
Citation 8
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Nominal rigidities, output gap, Phillips curve, unemployment fluctuations, wage markup shocks

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
European Central Bank (ECB) and National Bank of Belgium
Downloads 122 (321,709)
Citation 316

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DSGE models, monetary policy, euro area

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 56 (515,921)
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 40 (595,491)

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

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 75 (443,361)

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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 19 (748,085)
Citation 103

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Efficiency wage, effort, inflation persistence, monetary policy

18.

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 58 (499,654)

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

19.

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
European Central Bank (ECB), European Central Bank (ECB) and National Bank of Belgium
Downloads 48 (542,996)
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

20.

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 41 (577,675)
Citation 12

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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 20 (739,232)

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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: 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 18 (766,380)

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Macro-finance, DSGE, Term premia

22.
Downloads 36 (604,893)
Citation 24

Slow Recoveries: A Structural Interpretation

NBER Working Paper No. w18085
Number of pages: 39 Posted: 19 May 2012 Last Revised: 02 Jun 2022
Jordi Galí, Frank Smets and Rafael Wouters
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI), European Central Bank (ECB) and National Bank of Belgium
Downloads 29 (665,788)
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 - Centre de Recerca en Economia Internacional (CREI), European Central Bank (ECB) and National Bank of Belgium
Downloads 7 (871,945)
Citation 19
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estimated DSGE models, Jobless recoveries, Okun's law, U.S. business cycle

23.

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
European Central Bank (ECB) and National Bank of Belgium
Downloads 16 (749,791)
Citation 1
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Business cycle, DSGE models, monetary policy

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 12 (787,474)

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Adaptive Learning, Markov-Switching, Effective Lower Bound.

25.

Inflation Expectations and Term Premium

Number of pages: 48 Posted: 12 Aug 2022 Last Revised: 15 Sep 2022
CORE, Université catholique de LouvainKU Leuven and National Bank of Belgium
Downloads 4 (873,697)

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

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, European Central Bank (ECB) and National Bank of Belgium
Downloads 0 (930,249)
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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, European Central Bank (ECB) and National Bank of Belgium

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sticky prices, DSGE models, business cycle fluctuations