How important are automatic stabilisers in Europe? A stochastic simulation assessment
AbstractIn this paper we formalize budgetary stabilizers as a set of simple policy rules, and assess their operation in an uncertain environment by performing stochastic simulations in a forward-looking multi-country macroeconomic model, NiGEM, comprising individual blocks for 10 Euroland economies.
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Bibliographic InfoArticle provided by Elsevier in its journal Economic Modelling.
Volume (Year): 21 (2004)
Issue (Month): 1 (January)
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Web page: http://www.elsevier.com/locate/inca/30411
Other versions of this item:
- Barrell, R. & Pina, A.M., 2000. "How Important are Automatic Stabilizers in Europe? A Stochastic Simulation Assessment," Economics Working Papers eco2000/2, European University Institute.
- E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
- H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
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