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Globalisation and the euro area: simulation based analysis using the New Area Wide Model

Straub, Roland; Jacquinot, Pascal - 2008

labour markets would amplify the benefits associated with globalisation. …

Persistent link: https://www.econbiz.de/10011604953

Global policy at the zero lower bound in a large-scale DSGE model

Gomes, Sandra; Jacquinot, Pascal; Mestre, Ricardo; … - 2010

The purpose of this paper is to analyse whether fiscal policies can alleviate the effects of the zero lower bound (ZLB) on interest rates and if they should be coordinated internationally. The analysis is carried out using EAGLE, a DSGE model of the global economy. We consider that the fiscal...

Persistent link: https://www.econbiz.de/10011605300

The effects of government spending in a small open economy within a monetary union

Clancy, Daragh; Jacquinot, Pascal; Lozej, Matija - 2014

Small open economies within a monetary union have a limited range of stabilisation tools, as area-wide nominal interest and exchange rates do not respond to country-specific shocks. Such limitations imply that imbalances can be difficult to resolve. We assess the role that government spending...

Persistent link: https://www.econbiz.de/10011605772

Labour tax reforms, cross-country coordination and the monetary policy stance in the euro area: A structural model-based approach

Jacquinot, Pascal; Pisani, Massimiliano; Lozej, Matija - 2018

We evaluate the effects of permanently reducing labour tax rates in the euro area (EA) by simulating a large-scale open …, and public employment. Our results are as follows. First, a permanent reduction in labour tax rates in the Home region … would have stimulating effects on domestic economic activity and employment. Second, reducing labour tax rates …

Persistent link: https://www.econbiz.de/10011853315

Monetary/fiscal policy regimes in post-war Europe

Bouabdallah, Othman; Jacquinot, Pascal; Patella, Valeria - 2023

In most euro area countries, the monetary/fiscal policy mix is responsible for the changing history of debt and inflation facts. Using a Dynamic Stochastic General Equilibrium model with Markov-switching policy rules, we identify three distinct monetary/fiscal regimes in France and Italy: a...

Persistent link: https://www.econbiz.de/10014543672

Economic consequences of high public debt: Evidence from three large scale DSGE models

Burriel, Pablo; Checherita-Westphal, Cristina; … - 2020

large scale DSGE models, the simulation results suggest that high-debt economies (1) can lose more output in a crisis, (2 …

Persistent link: https://www.econbiz.de/10012422112