Publications de Luisa Lambertini

Solar Multimodal Transformer: Intraday Solar Irradiance Predictor Using Public Cameras and Time Series

Mario Paolone, Demetri Psaltis, Luisa Lambertini, Christophe Moser, Yanan Niu

Accurate intraday solar irradiance forecasting is crucial for optimizing dispatch planning and electricity trading. For this purpose, we introduce a novel and effective approach that includes three distinguishing components from the literature: 1) the unco ...

IEEE2025

Meteorological information prediction using images from webcams

Demetri Psaltis, Luisa Lambertini, Christophe Moser

One aspect of the present invention proposes a method of predicting meteorological information by using an artificial deep neural network. The present invention according to one example focuses on image processing, specifically on fusing a plurality of ima ...

2025

Intraday solar irradiance forecasting using public cameras

Mario Paolone, Demetri Psaltis, Luisa Lambertini, Christophe Moser

With the significant increase in photovoltaic (PV) electricity generation, more attention has been given to PV power forecasting. Indeed, accurate forecasting allows power grid operators to better schedule and dispatch their assets, such as energy storage ...

Pergamon-Elsevier Science Ltd2024

GROWTH, HOUSING, AND GLOBAL IMBALANCES

Luisa Lambertini, Luis Franjo Garcia, Serhiy Stepanchuk

In the decade leading to the Great Recession, the United States experienced rising house prices and current account deficits, whereas China and other fast-growing Asian economies saw rising house prices accompanied by current account surpluses. To explain ...

2023

Stress tests and loan pricing—Evidence from syndicated loans

Luisa Lambertini, Abhik Mukherjee

This paper estimates the impact of stress-testing on lending spreads. We use firm-level data onsyndicated loans matched with bank holding company (BHC) data in our panel regressions.Using a difference-in-difference framework, we find: (1) BHCs that failed ...

2021

Mortgage Supply and Capital Regulation in a Low Interest Rate Environment

Luisa Lambertini

Low-for-long nominal interest rates have resulted in strong growth in mort- gage lending and real house prices in Switzerland. Domestically-oriented, small banks have mostly contributed to this expansion in mortgage lending while the two big, global system ...

2020

Fiscal Policy, Relative Prices and Net Exports in a Currency Union

Luisa Lambertini, Christian Pröbsting

This paper studies the effects of fiscal policy on net exports, the terms of trade and expenditure switching. Using data on government spending and consumption taxes for twelve euro area countries over 1996 to 2018, it shows that fiscal austerity shocks im ...

2020

Does Austerity Go Along with Internal Devaluations?

Luisa Lambertini

Cuts to government spending rather than increases in consumption taxes are statistically associated with internal devaluations in the euro area during the period 2010-2014. Countries that cut spending experienced a decline in nominal wages, rising net expo ...

2019

The Pass-through of Bank Capital Requirements to Corporate Lending Spreads

Luisa Lambertini, Abhik Mukherjee, Robert Bichsel

This paper studies the impact of higher bank capital requirements on corporate lending spreads. We conduct an empirical analysis using granular bank- and loan-level data for Switzerland. Overall, we nd a positive relationship between capital ratios, actual ...

2019

Does Austerity Go Along With Internal Devaluations?

Luisa Lambertini, Christian Pröbsting

Cuts to government spending rather than increases in consumption taxes are statistically associated with internal devaluations in the euro area during the period 2010-2014. Countries that cut spending experienced a decline in nominal wages, rising net expo ...

2019

Mortgage Default in an Estimated Model of the U.S. Housing Market

Luisa Lambertini, Victoria Nuguer, Pinar Uysal

This paper models the housing sector, mortgages and endogenous default in a DSGE setting with nominal and real rigidities. We use data for the period 1981-2006 to estimate our model using Bayesian techniques. We analyze how an increase in risk in the mortg ...

2017

Expectations-driven cycles in the housing market

Luisa Lambertini

This paper explores the transmission of "news shocks" in a model of the housing market and shows that anticipated signals or beliefs of future macroeconomic developments can generate boom-bust cycles in the housing market and lead to business cycle fluctua ...

2017

Mortgage Default in an Estimated Model of the U.S. Housing Market

Luisa Lambertini, Victoria Nuguer, Pinar Uysal

Center of Fiscal Policy2015

Expectation-Driven Cycles in the Housing Market: Evidence from Survey Data

Luisa Lambertini

Using a vector-autoregression (VAR) model and data from the University of Michigan Survey of Consumers, we provide evidence on the importance of news and consumers' beliefs for housing-market dynamics and aggregate fluctuations. We document that innovation ...

2013

Leaning Against Boom-Bust Cycles in Credit and Housing Prices

Luisa Lambertini

This paper studies the potential gains of monetary and macro-prudential policies that lean against house-price and credit cycles. We rely on a model that features Borrowers and Savers and allows for over-borrowing induced by news-shock-driven cycles. We fi ...

Elsevier2013

Expectation-Driven Cycles in the Housing Market: Evidence from Survey Data

Luisa Lambertini

EPFL-CFI2013

Risky Mortgages in a DSGE Model

Luisa Lambertini, Chiara Forlati

This paper develops a DSGE model with housing, risky mortgages, and endogenous default. Housing investment is subject to idiosyncratic risk, and some mortgages are defaulted in equilibrium. An unanticipated increase in the standard deviation of housing inv ...

2011

Expectations-Driven Cycles in the Housing Market

Luisa Lambertini

This paper analyzes housing market boom-bust cycles driven by changes in households' expectations. We explore the role of expectations on productivity and other shocks originating from the housing market, the credit market and the conduct of monetary polic ...

Center for Fiscal Policy Working Paper Series2010