G2TT
来源类型Discussion paper
规范类型论文
来源IDDP16313
DP16313 The eurozone: what is to be done?
Patrick Minford; Michael R. Wickens; Zhirong Ou; Zheyi Zhu
发表日期2021-06-30
出版年2021
语种英语
摘要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.
主题International Macroeconomics and Finance
关键词Eurozone Macro stability Fiscal policy Monetary independence
URLhttps://cepr.org/publications/dp16313
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/545278
推荐引用方式
GB/T 7714
Patrick Minford,Michael R. Wickens,Zhirong Ou,et al. DP16313 The eurozone: what is to be done?. 2021.
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