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Adjustment in EMU: Is Convergence Assured?
Dullien, Sebastian; Fritsche, Ulrich; Groessl, Ingrid; … - 2009
Using a modified version of the model presented by Belke and Gros (2007), we analyze the stability of adjustment in a … currency union. Using econometric estimates for parameter values we check the stability conditions for the 11 original EMU …
Persistent link: https://www.econbiz.de/10010420861
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Adjustment in EMU: Is Convergence Assured?
Dullien, Sebastian; Fritsche, Ulrich; Größl, Ingrid; … - 2009
Using a modified version of the model presented by Belke and Gros (2007), we analyze the stability of adjustment in a … currency union. Using econometric estimates for parameter values we check the stability conditions for the 11 original EMU … adjustment, the adjustment to a price shock in EMU might take several decades. Keywords: EMU, convergence, stability. …
Persistent link: https://www.econbiz.de/10010460477
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Adjustment in EMU : is convergence assured?
Dullien, Sebastian; Fritsche, Ulrich; Größl, Ingrid; … - 2009
Using a modified version of the model presented by Belke and Gros (2007), we analyze the stability of adjustment in a … currency union. Using econometric estimates for parameter values we check the stability conditions for the 11 original EMU …
Persistent link: https://www.econbiz.de/10010425867
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Monetary theory and policy : the debate revisited
Gaffard, Jean-Luc - 2018
stability requires a discretionary economic policy. This position relies upon an analytical approach in which monetary and … nominal rigidities and financial commitment offer the means to achieve economic stability. This is because they prevent …
Persistent link: https://www.econbiz.de/10011943175
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Hopf bifurcation in the Clarida, Gali, and Gertler model
Barnett, William A.; Eryilmaz, Unal - In: Economic Modelling 31 (2013) C, pp. 401-404
We explore bifurcation phenomena in the open-economy New Keynesian CGG Model based on Clarida et al. (2001, 2002). We find that the open economy framework can bring about more complex dynamics, along with a wider variety of qualitative behaviors and policy responses. Introducing parameters...
Persistent link: https://www.econbiz.de/10010636282
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Adjustment in EMU: Is Convergence Assured?
Dullien, Sebastian; Fritsche, Ulrich; Groessl, Ingrid; … - Institut für Makroökonomie und Konjunkturforschung … - 2009
Using a modified version of the model presented by Belke and Gros (2007), we analyze the stability of adjustment in a … currency union. Using econometric estimates for parameter values we check the stability conditions for the 11 original EMU … adjustment, the adjustment to a price shock in EMU might take several decades. Keywords: EMU, convergence, stability. …
Persistent link: https://www.econbiz.de/10008531663
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Adjustment in EMU: Is Convergence Assured?
Dullien, Sebastian; Fritsche, Ulrich; Groessl, Ingrid; … - Fachbereich Sozialökonomie, Universität Hamburg - 2009
Using a modified version of the model presented by Belke and Gros (2007), we analyze the stability of adjustment in a … currency union. Using econometric estimates for parameter values we check the stability conditions for the 11 original EMU …
Persistent link: https://www.econbiz.de/10005041948
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Existence of Singularity Bifurcation in an Euler-Equations Model of the United States Economy: Grandmont was Right
Barnett, William A.; He, Susan - Volkswirtschaftliche Fakultät, … - 2009
, from monotonic stability at one extreme to chaos at the other extreme, and with all forms of multiperiodic dynamics between …
Persistent link: https://www.econbiz.de/10005619286
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Hopf bifurcation in the Clarida, Gali, and Gertler model
Barnett, William A.; Eryilmaz, Unal - Volkswirtschaftliche Fakultät, … - 2012
We explore bifurcation phenomena in the open-economy New Keynesian model developed by Clarida, Gali and Gertler (2002). We find that the open economy framework can bring about more complex dynamics, along with a wider variety of qualitative behaviors and policy responses. Introducing parameters...
Persistent link: https://www.econbiz.de/10011109244
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An analytical and numerical search for bifurcations in open economy New Keynesian models
Barnett, William; Eryilmaz, Unal - Volkswirtschaftliche Fakultät, … - 2012
We explore bifurcation phenomena in the open-economy New Keynesian model developed by Gali and Monacelli (2005). We find that the open economy framework brings about more complex dynamics, along with a wider variety of qualitative behaviors and policy responses. Introducing parameters related to...
Persistent link: https://www.econbiz.de/10011111540