Our objective in this paper is threefold. First, to identify the major common shocks that hit these countries upon entry into the EMU. Second, taking Greece as our case study, to construct a simple macroeconomic model of the policies Greek governments pursued in the presence of these shocks, and...

A general equilibrium model with household production and a government service production sector is developed. The authors study the consequences of increased tax-financed government spending for employment, unemployment, and the trade balance. It is also shown that increased transfers to...

The Output Gap: Measurement, Related Concepts and Policy Implications - Parameswar Nandakumar, A note on finding a NAIRU for Sweden using univariate filtering - Lasse Koskinen and Lars-Erik Öller, The Output Gap Computed Using the Relations in KOSMOS - Aleksander Markowski