| KONÔPKOVÁ, Zlatica. PITFALLS OF DSGE MODEL APPROACH IN MONETARY UNION. DANUBE: Law, Economics and Social Issues Review. Walter de Gruyter, 2020, roč. 10, č. 4, s. 369-382. ISSN 1804-6746. doi:10.2478/danb-2019-0019. |
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@article{1607257,
author = {Konôpková, Zlatica},
article_number = {4},
doi = {http://dx.doi.org/10.2478/danb-2019-0019},
keywords = {DSGE; Fiscal Policy; Small Economy; Union},
language = {eng},
issn = {1804-6746},
journal = {DANUBE: Law, Economics and Social Issues Review},
title = {PITFALLS OF DSGE MODEL APPROACH IN MONETARY UNION},
url = {http://www.eaco.eu/danube-journal/archive/},
volume = {10},
year = {2020}
}
TY - JOUR
ID - 1607257
AU - Konôpková, Zlatica
PY - 2020
TI - PITFALLS OF DSGE MODEL APPROACH IN MONETARY UNION
JF - DANUBE: Law, Economics and Social Issues Review
VL - 10
IS - 4
SP - 369-382
EP - 369-382
PB - Walter de Gruyter
SN - 18046746
KW - DSGE
KW - Fiscal Policy
KW - Small Economy
KW - Union
UR - http://www.eaco.eu/danube-journal/archive/
L2 - http://www.eaco.eu/danube-journal/archive/
N2 - 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
ER -
KONÔPKOVÁ, Zlatica. PITFALLS OF DSGE MODEL APPROACH IN MONETARY UNION. \textit{DANUBE: Law, Economics and Social Issues Review}. Walter de Gruyter, 2020, roč.~10, č.~4, s.~369-382. ISSN~1804-6746. doi:10.2478/danb-2019-0019.
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