PITFALLS OF DSGE MODEL APPROACH IN MONETARY UNION
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F20%3A00115219" target="_blank" >RIV/00216224:14560/20:00115219 - isvavai.cz</a>
Result on the web
<a href="http://www.eaco.eu/danube-journal/archive/" target="_blank" >http://www.eaco.eu/danube-journal/archive/</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.2478/danb-2019-0019" target="_blank" >10.2478/danb-2019-0019</a>
Alternative languages
Result language
angličtina
Original language name
PITFALLS OF DSGE MODEL APPROACH IN MONETARY UNION
Original language description
This paper investigates the impact of country size on the DSEG model estimation of the monetary union. Following DSGE model for fiscal policy simulations (FiMod) the union is considered to have a two-country structure, the investigated country has weight in union equal to its population share and the second country represents the rest of members. The model is estimated for different country sizes and it is found there are two areas of equilibrium instability which covers 11 of 19 European Monetary Union members. The result is in contrary with Stähler and Thomas (2012) who estimated FiMod for Spain and stated that model can be recalibrated to every member of the monetary union. According to the result the size of country matters and affects the stability of equilibrium. Therefore, special attention is paid to small economies in monetary union. The results and consequences are then discussed with examples from recent history
Czech name
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Czech description
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Classification
Type
J<sub>SC</sub> - Article in a specialist periodical, which is included in the SCOPUS database
CEP classification
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OECD FORD branch
50202 - Applied Economics, Econometrics
Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2020
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
DANUBE: Law, Economics and Social Issues Review
ISSN
1804-6746
e-ISSN
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Volume of the periodical
10
Issue of the periodical within the volume
4
Country of publishing house
US - UNITED STATES
Number of pages
14
Pages from-to
369-382
UT code for WoS article
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EID of the result in the Scopus database
2-s2.0-85078404678