This paper performs a welfare analysis based on the hypothetical scenario that Denmark gave up its peg and started conducting monetary policy according to a Taylor rule. For this we rely on a dynamic stochastic general equilibrium model for a small open economy that was estimated on Danish data...

We decompose the Danish business cycle into ten structural shocks using an open-economy DSGE model with infrequent determination of prices and wages which we estimate with Bayesian techniques. Consistent with the Danish monetary policy regime, we formulate an imperfect peg on the foreign...

The paper constructs financial-account stock data for Denmark 1875-2005 on an annual frequency and explores the historical monetary and financial trends and cycles on the basis of the new data set. The annual financial-account data constructed in the paper are based on a comprehensive range of...

The paper constructs financial-account stock data for Denmark 1875-2005 on an annual frequency and explores the historical monetary and financial trends and cycles on the basis of the new data set. The annual financial-account data constructed in the paper are based on a comprehensive range of...