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Tax reform and labour-market performance in the euro area: a simulation-based analysis using the New Area-Wide Model
Coenen, Günter; McAdam, Peter; Straub, Roland - 2007
at the European Central Bank to examine the potential benefits and spillovers of reducing labour-market distortions … caused by euro area tax structures. Our analysis shows that lowering tax distortions to levels prevailing in the United … States would result in an increase in hours worked and output by more than 10 percent. At the same time, tax reductions would …
Persistent link: https://www.econbiz.de/10011604793
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Monetary policy, neutrality and the environment
Faria, João Ricardo; McAdam, Peter; Viscolani, Bruno - 2021
We study the interaction between monetary and fiscal policies in a Ramsey-Sidrauski model augmented with environmental capital. Equilibrium solutions are studied through the "Green Golden Rule". Despite the non-separability of money in utility and intertemporally nonseparable preferences, money...
Persistent link: https://www.econbiz.de/10012605269
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The Italian block of the ESCB multi-country model
Angelini, Elena; D’Agostino, Antonello; McAdam, Peter - 2006
This paper documents the structure, estimation and simulation properties of the Italian block of the ESCB … simulation analysis. The specification of the Italian model follows closely that of the Area-Wide Model (AWM) and indeed the …
Persistent link: https://www.econbiz.de/10011604706
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Financial market frictions in a model of the euro area
Lombardo, Giovanni; McAdam, Peter - 2012
area aggregate data and model properties are illustrated with simulation and conditional variance and historical shock …
Persistent link: https://www.econbiz.de/10011605468