Arbeitspapier
The eurozone: What is to be done?
We construct a macro DSGE model of the eurozone and its two main regions, the North and the South, with the aim of matching the macro facts of these economies by indirect inference and using the resulting empirically-based model to assess possible new policy regimes. The model we have found to fit the facts suggests that substantial gains in macro stability and consumer welfare are possible if the fiscal authority in each region is given the freedom to respond to its own economic situation. Further gains could come with the restoration of monetary independence to the two regions, in effect creating a second 'southern euro' bloc.
- Language
-
Englisch
- Bibliographic citation
-
Series: Cardiff Economics Working Papers ; No. E2021/11
- Classification
-
Wirtschaft
Business Fluctuations; Cycles
Monetary Policy
Fiscal Policy
Open Economy Macroeconomics
- Subject
-
eurozone
macro stability
fiscal policy
monetary independence
- Event
-
Geistige Schöpfung
- (who)
-
Minford, Patrick
Ou, Zhirong
Wickens, Michael R.
Zhu, Zheyi
- Event
-
Veröffentlichung
- (who)
-
Cardiff University, Cardiff Business School
- (where)
-
Cardiff
- (when)
-
2021
- Handle
- Last update
-
10.03.2025, 11:41 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Minford, Patrick
- Ou, Zhirong
- Wickens, Michael R.
- Zhu, Zheyi
- Cardiff University, Cardiff Business School
Time of origin
- 2021
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