Ratto, M.; Girardi, R.; Liska, R.; Roeger, W.; J. In't Veld - Society for Computational Economics - SCE - 2006
This paper adds oil prices to an estimated DSGE model for the euro area. The price of oil is an important macroeconomic driving factor for most industrialised countries. The euro area is importing most of its oil from abroad; therefore changes in oil prices have effects on domestic income via the...