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Quasi-Monte Carlo methods in stochastic simulations : an application to fiscal policy simulations using an aggregate disequilibrium model of the West German economy 1960 - 1994
Franz, Wolfgang (contributor) - 1998
Different stochastic simulation methods are used in order to check the robustness of the outcome of policy simulations … possible margin. Because of nonlinearities confidence intervals for the simulation results have to be obtained by means of … stochastic simulations. The main contribution of this paper consists in presenting the simulation results. The robustness of …
Persistent link: https://www.econbiz.de/10000654506
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Quasi-Monte Carlo methods in stochastic simulations : an application to fiscal policy simulations using an aggregate disequilibrium model of the West German economy 1960-1994
Franz, Wolfgang; Göggelmann, Klaus; Schellhorn, Martin; … - 1998
Different stochastic simulation methods are used in order to check the robustness of the outcome of policy simulations … possible margin. Because of nonlinearities confidence intervals for the simulation results have to be obtained by means of … stochastic simulations. The main contribution of this paper consists in presenting the simulation results. The robustness of …
Persistent link: https://www.econbiz.de/10011441040
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Quasi-Monte Carlo methods in stochastic simulations: an application to policy simulations using a disequilibrium model of the West German economy 1960 - 1994
Franz, Wolfgang (contributor) - In: Empirical economics : a journal of the Institute for … 25 (2000) 2, pp. 247-259
Persistent link: https://www.econbiz.de/10001482218
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Quasi-Monte Carlo Methods in Stochastic Simulations : An Application to Policy Simulations Using a Disequilibrium Model of the West German Economy 1960-1994
Franz, Wolfgang; Goeggelmann, Klaus; Schellhorn, Martin; … - 2000
Different stochastic simulation methods are used in order to check the robustness of the outcome of policy simulations …. The application of a macroeconometric disequilibrium model of the West German economy to a fiscal policy simulation is … the simulation results have to be obtained by means of stochastic simulations. The robustness of the results is assessed …
Persistent link: https://www.econbiz.de/10014153608
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Data uncertainty and the role of money as an information variable for monetary policy
Coenen, Günter; Levin, Andrew T.; Wieland, Volker - 2003
In this study, we perform a quantitative assessment of the role of money as an indicator variable for monetary policy in the euro area. We document the magnitude of revisions to euro area-wide data on output, prices, and money, and find that monetary aggregates have a potentially significant...
Persistent link: https://www.econbiz.de/10009765349
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A small estimated euro area model with rational expectations and nominal rigidities
Coenen, Günter; Wieland, Volker - 2003
In this paper we estimate a small model of the euro area to be used as a laboratory for evaluating the performance of alternative monetary policy strategies. We start with the relationship between output and inflation and investigate the fit of the nominal wage contracting model due to Taylor...
Persistent link: https://www.econbiz.de/10009765350
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The Performance and Robustness of Interest-Rate Rules in Models of the Euro Area
Adalid, Ramón; Coenen, Günter; McAdam, Peter; … - 2021
In this paper, we examine the performance and robustness of optimised interest-rate rules in four models of the euro area which differ considerably in terms of size, degree of aggregation, relevance of forward-looking behavioural elements and adherence to micro-foundations. Our findings are...
Persistent link: https://www.econbiz.de/10013318602
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Inflation Dynamics and International Linkages : A Model of the United States, the Euro Area and Japan
Coenen, Günter; Wieland, Volker - 2021
In this paper we estimate a small macroeconometric model of the United States, the euro area and Japan with rational expectations and nominal rigidities due to staggered contracts. Comparing three popular contracting specifications we find that euro area and Japanese inflation dynamics are best...
Persistent link: https://www.econbiz.de/10013320199
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A Small Estimated Euro Area Model with Rational Expectations and Nominal Rigidities
Coenen, Günter; Wieland, Volker - 2021
In this paper we estimate a small model of the euro area to be used as a laboratory for evaluating the performance of alternative monetary policy strategies. We start with the relationship between output and inflation and investigate the fit of the nominal wage contracting model due to Taylor...
Persistent link: https://www.econbiz.de/10013320311
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Evaluation methods for non-experimental data
Blundell, Richard W.; Costa Dias, Monica - In: Fiscal studies : the journal of the Institute for … 21 (2000) 4, pp. 427-468
Persistent link: https://www.econbiz.de/10001550417