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Labour Tax Reforms, Cross-Country Coordination and the Monetary Policy Stance in the Euro Area : A Structural Model-Based Approach

Jacquinot, Pascal - 2018

rest of the EA - REA), the US, and the rest of the world, region-specific labour markets with search and matching frictions …, and public employment. Our results are as follows. First, a permanent reduction in labour tax rates in the Home region … simultaneously in both Home and REA would have additional expansionary effects on the Home region. Third, in the short run the …

Persistent link: https://www.econbiz.de/10012928551

Macroeconomic Effectiveness of Non-Standard Monetary Policy and Early Exit. A Model-Based Evaluation

Burlon, Lorenzo - 2016

This paper evaluates the macroeconomic effects of the Eurosystem's expanded Asset Purchase Programme (APP) under alternative strategies as regards (i) the unwinding of asset positions accumulated under the APP and (ii) communication of current and future paths of the policy rate (forward...

Persistent link: https://www.econbiz.de/10012979531

Macroeconomic Effects of Simultaneous Implementation of Reforms after the Crisis

Gerali, Andrea - 2015

This paper evaluates the macroeconomic effects of simultaneously implementing fiscal consolidation and competition-friendly reforms in a country of the euro area by simulating a large-scale dynamic general equilibrium model. We find, first, that the joint implementation of reforms has additional...

Persistent link: https://www.econbiz.de/10013027356

Macroeconomic Effects of Non-Standard Monetary Policy Measures in the Euro Area : The Role of Corporate Bond Purchases

Bartocci, Anna - 2017

This paper evaluates the macroeconomic effects of the corporate sector purchase programme (CSPP) implemented in the euro area by the Eurosystem. For this purpose we calibrate and simulate a monetary-union dynamic general equilibrium model. We assume that entrepreneurs can finance their spending...

Persistent link: https://www.econbiz.de/10012945854