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Global models for a global pandemic: the impact of COVID-19 on small euro area economies

García, Pablo; Jacquinot, Pascal; Lenarcic, Crt; … - 2021

This paper analyses the effects of the COVID-19 pandemic shock on small open economies in a monetary union with an application to the euro area. Accounting for a high degree of openness and a strong dependence on intra and extra union trade, we focus on the size and the direction of...

Persistent link: https://www.econbiz.de/10012643287

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

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

, 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/10011792134

Macroeconomic effects of carbon transition policies : an assessment based on the ECB's New Area-Wide Model with a disaggregated energy sector

Coenen, Günter; Lozej, Matija; Priftis, Romanos - 2023

We use scenario analysis to assess the macroeconomic effects of carbon transition policies aimed at mitigating climate change. To this end, we employ a version of the ECB's New Area-Wide Model (NAWM) augmented with a framework of disaggregated energy production and use, which distinguishes...

Persistent link: https://www.econbiz.de/10014315252