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Surprising comparative properties of monetary models : results from a new model database
Taylor, John B.; Wieland, Volker - 2010
In this paper we investigate the comparative properties of empirically-estimated monetary models of the U.S. economy. We make use of a new database of models designed for such investigations. We focus on three representative models: the Christiano, Eichenbaum, Evans (2005) model, the Smets and...
Persistent link: https://www.econbiz.de/10008688516
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The Maastricht convergence criteria and optimal monetary policy for the EMU accession Countries
Lipińska, Anna (contributor) - 2008
The EMU accession countries are obliged to fulfill the Maastrich convergence criteria prior to entering the EMU. This paper uses a DSGE model of a two-sector small open economy, to address the following question: How do the Maastricht convergence criteria modify optimal monetary policy in an...
Persistent link: https://www.econbiz.de/10003778818
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Trade with central and eastern Europe : is it really a threat to wages in the west?
Polgár, Éva Katalin; Wörz, Julia - 2010
industries) in 25 EU countries over the period from 1995 to 2005. By applying a cross-country and industry-specific approach, it …
Persistent link: https://www.econbiz.de/10008659411
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Efectos del proceso de integración europeo sobre la composición funcional del gasto público
Sanz Labrador, Ismael; Velázquez Angona, Francisco J. - In: Papeles de economía española 91 (2002), pp. 46-59
Persistent link: https://www.econbiz.de/10001660053
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Deeper, wider and more competitive? : monetary integration, Eastern enlargement and competitiveness in the European Union
Ottaviano, Gianmarco I. P. (contributor);  … - 2007
firms? And in the European context, have key elements of the EU strategy such as EMU and enlargement helped or hindered … located in participating economies. Enlargement has, instead, two contrasting effects. It improves the accessibility of EU …
Persistent link: https://www.econbiz.de/10003635984
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Oil shocks and endogenous markups : results from an estimated euro area DSGE model
Sánchez, Marcelo (contributor) - 2008
This paper estimates a linearised DSGE model for the euro area. The model is New Keynesian and allows for a role for oil usage and endogenous price markups. We find that the price markup reacts positively to the ratio of expected discounted profits to current output, which is normally seen to...
Persistent link: https://www.econbiz.de/10003636306
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Fiscal and monetary policy in the enlarged European Union (forthcoming)
Pogorelec, Sabina (contributor) - 2006
I build a quantitative two-country DSGE model of the European Union (EU) and investigate whether there are welfare … gains from fiscal policy cooperation between the new EU members and the euro area (EMU). Fiscal cooperation is defined in … firms in the new EU countries. When there is no foreign ownership in the new EU countries, the euro area is indifferent …
Persistent link: https://www.econbiz.de/10003358603
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The role of fiscal transfers for regional economic convergence in Europe
Checherita-Westphal, Cristina; Nickel, Christiane; … - 2009
This paper provides evidence on the role of net fiscal transfers to households and EU structural funds for per … growth rates in poor receiving regions decline by less than in rich paying regions. EU structural and cohesion funds spent …
Persistent link: https://www.econbiz.de/10003832335
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Macroeconomic adjustment to monetary union
Fagan, Gabriel (contributor); Gaspar, Vítor (contributor) - 2008
The move to monetary union in Europe led to convergence of interest rates among the participating countries. This was associated with notable cross-country differences in the behaviour of key macroeconomic aggregates. Compared to the low interest rate countries, former high interest rate...
Persistent link: https://www.econbiz.de/10003790953
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The political economy under monetary union: has the euro made a difference?
Fratzscher, Marcel; Stracca, Livio - 2008
Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much research has focused on understanding this integration process and what benefits and costs it entails. This paper identifies a political economy channel of EMU as the monetary union...
Persistent link: https://www.econbiz.de/10003794175