Capoen, Fabrice; Creel, Jerome - Centre de recherche en Économie (OFCE), Sciences … - 2007
exported to
the USA) and to the variation on coordination. Section 5 concludes.
2 Economic performance in the Euro area: a … relatively low.
19
Table 3: Loss functions’ parameters – Benchmark
α β γ δ ε η
Gov. 0.5 0.25 0.0 0.5 0.5 0.5 USA
CB 0.5 1 …).
Consistently with the European experience (see table 2 and comments), an external
supply shock (a supply shock on the USA) has the …