Konferenzbeitrag
The Macroeconomic Consequences of EMU: International Evidence from a DSGE Model
In this paper, we estimate a New Keynesian DSGE model developed by Ireland (2003) on French, German and Spanish data with the aim to explore the macroeconomic consequences of EMU. In order to validate the results from the DSGE model, we amend this analysis by stability tests of monetary policy reaction functions for these countries. We find that (a) the DSGE structure is well suited for the characterization of key macroeconomic features of the three economies; (b) significant efficiency gains were realized in terms of lower adjustment cost of prices and the capital stock; (c) the behavior of monetary policy did not change in Germany, unlike in France and Spain. Specifically, the impact of inflation on interest rates increased considerably in the two latter countries.
- Language
-
Englisch
- Bibliographic citation
-
Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Economic Policy in the EMU ; No. F16-V2
- Classification
-
Wirtschaft
Price Level; Inflation; Deflation
Business Fluctuations; Cycles
Monetary Policy
- Subject
-
DSGE
Monetary Policy
EMU
- Event
-
Geistige Schöpfung
- (who)
-
Röhe, Oke
Jerger, Jürgen
- Event
-
Veröffentlichung
- (who)
-
Verein für Socialpolitik
- (where)
-
Frankfurt a. M.
- (when)
-
2010
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
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
- Konferenzbeitrag
Associated
- Röhe, Oke
- Jerger, Jürgen
- Verein für Socialpolitik
Time of origin
- 2010
Other Objects (12)
Macroeconomic implications of EMU at the regional level
EMU and macroeconomic shocks: some evidence on Spanish regions
Adjustment dynamics and business cycle heterogeneity in the EMU: Evidence from estimated DSGE models
An Empirical Analysis on Optimal Macroeconomic Policy Coordination in EMU Countries
The macroeconomic consequences of EMU: international evidence from a DSGE model
The Macroeconomic Consequences of EMU: International Evidence from a DSGE Model.
Macroeconomic consequences of gender discrimination: a preliminary approach
The Macroeconomic Effects of Quantitative Easing in the Euro Area: Evidence from an Estimated DSGE Model
Forecasting with DSGE Models
EMU: some unanswered questions
EMU Challenges Regional Labor Markets
Fiscal Expenditures and Unemployment: A DSGE Perspective
Macroeconomic implications of EMU at the regional level
EMU and macroeconomic shocks: some evidence on Spanish regions
Adjustment dynamics and business cycle heterogeneity in the EMU: Evidence from estimated DSGE models
An Empirical Analysis on Optimal Macroeconomic Policy Coordination in EMU Countries
The macroeconomic consequences of EMU: international evidence from a DSGE model
The Macroeconomic Consequences of EMU: International Evidence from a DSGE Model.
Macroeconomic consequences of gender discrimination: a preliminary approach
The Macroeconomic Effects of Quantitative Easing in the Euro Area: Evidence from an Estimated DSGE Model
Forecasting with DSGE Models
EMU: some unanswered questions
EMU Challenges Regional Labor Markets
Fiscal Expenditures and Unemployment: A DSGE Perspective
Macroeconomic implications of EMU at the regional level
EMU and macroeconomic shocks: some evidence on Spanish regions
Adjustment dynamics and business cycle heterogeneity in the EMU: Evidence from estimated DSGE models
An Empirical Analysis on Optimal Macroeconomic Policy Coordination in EMU Countries
The macroeconomic consequences of EMU: international evidence from a DSGE model
The Macroeconomic Consequences of EMU: International Evidence from a DSGE Model.
Macroeconomic consequences of gender discrimination: a preliminary approach
The Macroeconomic Effects of Quantitative Easing in the Euro Area: Evidence from an Estimated DSGE Model
Forecasting with DSGE Models
EMU: some unanswered questions
EMU Challenges Regional Labor Markets