Estimated DSGE Model for Monetary and Fiscal Polic Coordination Analysis – The Case of Serbia

Artikel

We present a new-Keynesian model for small open economy, with price rigidities stemming from a Calvo pricing scheme (1983), monopolistic banking system, financial dollarization of the economy and monetary and fiscal policy governed by rules. We estimate the model on Serbian data and propose various model extensions that could be used for monetary and fiscal policy analysis. We consider 6 combinations of monetary and fiscal policy regimes, inflation targeting and currency peg on one hand, and discretionary cyclically neutral fiscal policy and fiscal rules, on the other. The model with inflation targeting and discretionary fiscal policy fits the data best.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Journal: Journal of Central Banking Theory and Practice ; ISSN: 2336-9205 ; Volume: 7 ; Year: 2018 ; Issue: 1 ; Pages: 145-173 ; Warsaw: De Gruyter Open

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Statistical Simulation Methods: General ; General Aggregative Models: General ; General Aggregative Models: Keynes; Keynesian; Post-Keynesian ; General Aggregative Models: Forecasting and Simulation: Models and Applications
• Thema: monetary policy ; fiscal policy ; DSGE model ; coordination ; Bayesian estimation

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Bašić Vasiljev, Tamara
• Ereignis: Veröffentlichung
• (wer): De Gruyter Open
• (wo): Warsaw
• (wann): 2018

Weitere Informationen

• DOI: doi:10.2478/jcbtp-2018-0007
• Handle: http://hdl.handle.net/10419/217639
• Letzte Aktualisierung: 10.03.2025, 11:46 MEZ