unilaterally. This is true in particular for a small and open economy such as Portugal. Specifically, in the long run German output …

economy dynamic general equilibrium model. The model features the EA as a monetary union, split in two regions (Home and the … expansionary effects on the EA economy of a EA-wide tax reduction are enhanced if the EA monetary policy is accommodative …

of the economy such as the share of liquidity-constrained households change, and the endogenous fiscal rule that ensures …

EAGLE-FLI (Euro Area and Global Economy with Financial Linkages), banks collect deposits from domestic households and cross …

Building on the New Area Wide Model, we develop a 4-region macroeconomic model of the euro area and the world economy …. The model (EAGLE, Euro Area and Global Economy model) is microfounded and designed for conducting quantitative policy … economy. Simulation analysis shows the transmission mechanism of region-specific or common shocks, originating in the euro …