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are important in accounting for aggregate fluctuations in Spain. The model is estimated with Bayesian techniques and data …
Persistent link: https://www.econbiz.de/10014208132
We estimate with Bayesian techniques the Italian dynamic General Equilibrium Model (IGEM), which has been developed at the Italian Treasury Department, Ministry of Economy and Finance, to assess the effects of alter-native policy interventions. We analyze and discuss the estimated effects of...
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This paper analyzes the determinants of Spain's macroeconomic fluctuations since the inception of the euro in 1999 … structure (especially lower nominal wage and price rigidities in Spain). Finally, we find that EMU membership has had a non …
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This paper provides a full technical account of the Italian General Equilibrium Model (IGEM), a new dynamic general equilibrium model for the Italian economy developed at the Department of Treasury of the Italian Ministry of the Economy and Finance. IGEM integrates typical New Keynesian...
Persistent link: https://www.econbiz.de/10013083546
This paper extends IGEM, the dynamic general equilibrium model for the Italian economy currently in use at the Italian Department of the Treasury for economic policy analysis. In this new variant of the model the public sector is explicitly modelled as suppliers of goods and services. With this...
Persistent link: https://www.econbiz.de/10012946233