Showing 1 - 10 of 105
Persistent link: https://www.econbiz.de/10009355410
In this paper, we provide a brief introduction to a new macroeconometric model of the Spanish economy named MEDEA (Modelo de EquilibrioDinámico de la Economía EspañolA). MEDEA is a dynamic stochastic general equilibrium (DSGE) model that aims to describe the main features of the Spanish...
Persistent link: https://www.econbiz.de/10009355412
Persistent link: https://www.econbiz.de/10009355415
This paper presents the model used for simulation purposes within the Spanish Ministry of Economic Affairs and Finance. REMS (a Rational Expectations Model for the Spanish economy) is a small open economy dynamic general equilibrium model in the vein of the New-Neoclassical-Keynesian synthesis...
Persistent link: https://www.econbiz.de/10009355416
Persistent link: https://www.econbiz.de/10009355417
In the last 15 years, Spain has witnessed a large increase in housing prices and in the importance of the housing sector, which has refreshed the debate on the drivers of housing cycles. Since Spain joined the European Monetary Union (EMU), twomain important factors behind the housing boom...
Persistent link: https://www.econbiz.de/10009355418
Persistent link: https://www.econbiz.de/10009355419
Bayesian dynamic stochastic general equilibrium (DSGE) models combine microeconomic behavioural foundations with a full-system Bayesian likelihood estimation approach using key macro-economic variables. Because of the usefulness of this class ofmodels for addressing questions regarding the...
Persistent link: https://www.econbiz.de/10009355420
While general equilibrium theories of trade stress the role of third-country effects, little work has been done in the empirical foreign direct investment (FDI) literature to test such spatial linkages. This paper aims to provide further insights into long-run determinants of Spanish FDI by...
Persistent link: https://www.econbiz.de/10009355548
A model-free methodology is used for the first time to estimate a daily volatility index (VIBEX-NEW) for the Spanish financial market.We use a public data set of daily option prices to compute this index and showthat daily changes in VIBEXNEW display a negative, tight contemporaneous...
Persistent link: https://www.econbiz.de/10009355558