QUEST III, an Estimated DSGE Model of the Euro Area with Fiscal and Monetary Policy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook QUEST III, an Estimated DSGE Model of the Euro Area with Fiscal and Monetary Policy write by . This book was released on 2008. QUEST III, an Estimated DSGE Model of the Euro Area with Fiscal and Monetary Policy available in PDF, EPUB and Kindle. This paper develops a DSGE model for an open economy and estimates it on euro area data using Bayesian estimation techniques. The model features nominal and real frictions, as well as financial frictions in the form of liquidity constrained households. The model incorporates active monetary and fiscal policy rules (for government consumption, investment, transfers and wage taxes) and can be used to analyse the effectiveness of stabilisation policies. To capture the unit root character of macroeconomic time-series we allow for stochastic trend in TFP, but instead of filtering data prior to estimation, we estimate the model in growth rates and stationary nominal ratios.
QUEST III
QUEST III - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook QUEST III write by Marco Ratto. This book was released on 1981. QUEST III available in PDF, EPUB and Kindle.
QUEST III
QUEST III - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook QUEST III write by Marco Ratto. This book was released on 2008. QUEST III available in PDF, EPUB and Kindle. This paper develops a DSGE model for an open economy and estimates it on euro area data using Bayesian estimation techniques. The model features nominal and real frictions, as well as financial frictions in the form of liquidity constrained households. The model incorporates active monetary and fiscal policy rules (for government consumption, investment, transfers and wage taxes) and can be used to analyse the effectiveness of stabilisation policies. To capture the unit root character of macroeconomic time-series we allow for stochastic trend in TFP, but instead of filtering data prior to estimation, we estimate the model in growth rates and stationary nominal ratios."--Publication information p.
Macroeconomic Modelling of R&D and Innovation Policies
Macroeconomic Modelling of R&D and Innovation Policies - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Macroeconomic Modelling of R&D and Innovation Policies write by Ufuk Akcigit. This book was released on 2021-12-03. Macroeconomic Modelling of R&D and Innovation Policies available in PDF, EPUB and Kindle. This open access book encompasses a collection of in-depth analyses showcasing the challenges and ways forward for macroeconomic modelling of R&D and innovation policies. Based upon the proceedings of the EC-DG JRC-IEA workshop held in Brussels in 2017, it presents cutting-edge contributions from a number of leading economists in the field. It provides a comprehensive overview of the current academic and policy challenges surrounding R&D as well as of the state-of-the-art modelling techniques. The book brings to the forefront outstanding issues related to the assessment of the macroeconomic impact of R&D policies and its modelling. It speaks to the rising importance of R&D and innovation policy, and the proliferation of macroeconomic models featuring endogenous technological change. The contents of this book will be of interest to both academic and policy audiences working in the fields of R&D and innovation.
Fiscal Policy in an Estimated Open-economy Model for the Euro Area
Fiscal Policy in an Estimated Open-economy Model for the Euro Area - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Fiscal Policy in an Estimated Open-economy Model for the Euro Area write by . This book was released on 2006. Fiscal Policy in an Estimated Open-economy Model for the Euro Area available in PDF, EPUB and Kindle. This paper uses an estimated DSGE model for the euro area to study the effects of fiscal stabilisation policies. There are at least two features of the euro area economy which makes this analysis interesting. First, there are nominal rigidities in goods and labour markets, and there are financial market frictions with a significant share of liquidity constrained households. Second, the government is a major sector of the euro area economy. In this paper we look at fiscal stabilisation via government consumption, investment, transfers and wage taxes. Empirical evidence is found for systematic countercyclical fiscal policy. Consistent with previous findings, there is a small positive fiscal multiplier in the case of transitory fiscal shocks. It is found that fiscal policy is effective in stabilising GDP in the presence of demand and supply shocks. Fiscal policy helps to reduce the demand externality arising from nominal rigidities. In addition automatic stabilisation via government transfers helps to smooth consumption of liquidity constrained household. Fiscal policy partly compensates the financial market distortion. With distorted goods, labour and financial markets it is found that the estimated fiscal policy rules reduce fluctuations in euro area GDP by about 14 percent.
