[...] * The European Central Bank New Area-Wide Model (NAWM): dynamic stochastic general equilibrium model reproducing the dynamic effects of changes in monetary policy interest rates observed in identified Variable Autoregression Models (VARs). The building blocks are: agents (e.g. households and firms), real and nominal frictions (e.g. habit formation, adjustment costs), financial frictions (domestic and external risk premium), rest-of-World block (SVAR). It is estimated on time series for 18 key macro variables employing Bayesian inference methods. The model is regularly used for counterfactual policy analysis.