We assess to what extent wage inflation policies in Germany could contribute to an economic rebalancing in the euro … and output in Germany and the rest of the euro area. The duration of constant interest rates and expectations about the … consists of Germany, the rest of the euro area, and the rest of the world. …

been estimated for the four largest European economies (Germany, France, Italy and Spain). We analyse business cycle … different country configurations, we present the GM model in its configuration designed for EMU-countries (GM3- EMU), which has … country since the establishment of the EMU. We also discuss the main issues related to fitting observed data, and the …

We present the estimated large-scale three-region DSGE model GEAR picturing Germany, the Euro Area and the Rest of the … present-value multipliers for distinct fiscal instruments, and to assess how discretionary fiscal policy in Germany and the …-on-quarter GDP growth substantially, both in Germany and in the rest of the Euro Area. The main drivers of GDP growth in Europe …

The paper reviews adjustment dynamics in the EMU on the basis of estimated DSGE models for four large EA Member States …