PITFALLS OF DSGE MODEL APPROACH IN MONETARY UNION

Kód výsledku v 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>

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

PITFALLS OF DSGE MODEL APPROACH IN MONETARY UNION

Popis výsledku v původním jazyce

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

Název v anglickém jazyce

PITFALLS OF DSGE MODEL APPROACH IN MONETARY UNION

Popis výsledku anglicky

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

Druh

J_SC - Článek v periodiku v databázi SCOPUS

CEP obor

—

OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2020

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

DANUBE: Law, Economics and Social Issues Review

ISSN

1804-6746

e-ISSN

—

Svazek periodika

10

Číslo periodika v rámci svazku

4

Stát vydavatele periodika

US - Spojené státy americké

Počet stran výsledku

14

Strana od-do

369-382

Kód UT WoS článku

—

EID výsledku v databázi Scopus

2-s2.0-85078404678