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An Estimated DSGE Model of Austria, the Euro Area and the U.S. : Some Welfare Implications of EMU

Breuss, Fritz; Fornero, Jorge - 2009

. The model captures the most salient features of Austria as a small open economy, the Euro Area (EA) and the United States …, whereas in the latter, the monetary policy of Austria is fully aligned with the European Central Bank. Main results are … that in the pre-EMU period, the EA and Austria present welfare costs close to one percent of steady-state consumption …

Persistent link: https://www.econbiz.de/10011373510

An estimated DSGE model of Austria, the euro area and the US : some welfare implications of EMU

Breuss, Fritz; Fornero, Jorge - 2009

Persistent link: https://www.econbiz.de/10003940269

The "uncovered inflation rate parity" condition in a monetary union

Acocella, Nicola; Pasimeni, Paolo - 2018

The uncovered interest rate parity condition lies at the heart of the "impossible trinity", stating that the three objectives of fixed exchange rates, free capital flows, and independent monetary policy cannot be pursued simultaneously. We argue that although monetary unification does indeed...

Persistent link: https://www.econbiz.de/10011926988

The macro view

Balling, Morten (ed.); Berk, Jan Marc (ed.); … - Colloquium The Quest for Stability <2009, Utrecht>; … - 2010

On September 3-4, 2009, SUERF and Utrecht University School of Economics jointly organized the 28th SUERF Colloquium on "The Quest for Stability" in Utrecht, the Netherlands. The papers contained in this SUERF Study jointly published with DNB and Rabobank are based on contributions to this...

Persistent link: https://www.econbiz.de/10011706504

EMU Enlargement, Stabilisation Costs and Insurance Mechanisms

Afonso, António; Furceri, Davide - 2008

This paper considers the determinants of the macroeconomic costs of joining EMU for the new EU Member Sates, and compares them with those of the EMU members. Specifically, we investigate the business-cycle correlation between the candidate's economy and that of the euro area as a whole, and the...

Persistent link: https://www.econbiz.de/10014049118

The 'Uncovered Inflation Rate Parity' Condition in a Monetary Union

Acocella, Nicola - 2020

Persistent link: https://www.econbiz.de/10012851840

The quest for stability : the macro view

Balling, Morten (contributor); Buiter, Willem H. (contributor) - 2010

Persistent link: https://www.econbiz.de/10003985500

A Simple Approach to International Monetary Policy Coordination

Benigno, Pierpaolo - 1998

This paper analyzes the strategic interaction between the monetary policies of two countries, in an intertemporal general equilibrium model with nominal rigidities and imperfect competition. It offers an excursus on non-cooperative towards cooperative solutions. All the results can be read by...

Persistent link: https://www.econbiz.de/10014224287

Macroeconomic effects of tariffs shocks : the role of the effective lower bound and the labour market

Jacquinot, Pascal; Lozej, Matija; Pisani, Massimiliano - 2020

We simulate a version of the EAGLE, a New Keynesian multi-country model of the world economy, to assess the macroeconomic effects of US tariffs imposed on one country member of the euro area (EA), and the rest of the world (RW). The model is augmented with an endogenous effective lower bound...

Persistent link: https://www.econbiz.de/10012241231

The Workings of the Eurosystem : Monetary Policy Preparations and Decision-Making - Selected Issues

Moutot, Philippe Pierre - 2014

The ECB's monetary policy has received considerable attention in recent years. This is less the case, however, for its regular monetary policy preparation and decision-making process. This paper reviews how the factors usually considered as critical for the success of a central banking system...

Persistent link: https://www.econbiz.de/10013063082