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Monetary and fiscal policy in a large asymmetric monetary Union : a dynamic three-country analysis

Clausen, Volker (contributor); … - 2005

This paper analyzes the dynamic effects of anticipated monetary and fis- cal policies in a large monetary union, which is characterized by asym- metric interest rate transmission. We explicitly solve the asymmetric three-country model using the decomposition methods of Aoki (1981) and Fukuda...

Persistent link: https://www.econbiz.de/10003235924

Dynamische Effekte der Geld-und Fiskalpolitik in einem asymmetrischen Drei-Länder-Modell mit einer Währungsunion

Wohltmann, Hans-Werner (contributor) - 2005

In diesem Beitrag werden die intertemporalen Wirkungen von antizipierten geld- und fiskalpolitischen Maßnahmen im Rahmen eines asymmetrischen Drei-Länder- Modells vom Mundell-Fleming-Phillips-Typ mit rationalen Preis- und Wechsel- kursänderungserwartungen charakterisiert. Zwei der drei...

Persistent link: https://www.econbiz.de/10003235928

How synchronized are central and East European economies with the euro area? : Evidence from a structural factor model

Eickmeier, Sandra (contributor); Breitung, Jörg (contributor) - 2005

A high degree of cyclical synchronization between central and east European countries (CEECs) and the euro area is … generally seen as a prerequisite for successful EMU enlargement. This paper investigates comovements between CEECs and the euro … large-scale dynamic factor model, we then identify the main structural common euro-area shocks and investigate their …