IDEAS home Printed from https://ideas.repec.org/a/spr/cejnor/v32y2024i2d10.1007_s10100-024-00907-2.html
   My bibliography  Save this article

Sensitivity analysis for a dynamic macroeconomic policy game in a monetary union

Author

Listed:
  • Dmitri Blueschke

    (University of Klagenfurt)

  • Viktoria Blueschke-Nikolaeva

    (University of Klagenfurt)

  • Reinhard Neck

    (University of Klagenfurt)

Abstract

In this paper, we examine the sensitivity of the results of an earlier paper which presented and analyzed a dynamic game model of a monetary union with coalitions between governments (fiscal policy makers) and a common central bank (monetary policy maker). Here we examine alternative values of the parameters of the underlying model to show how the earlier results depend on the numerical parameter values chosen, which were obtained by calibration instead of econometric estimation. We demonstrate that the main results are qualitatively the same as in the original model for plausible smaller and larger values of the parameters. For the few cases where they differ, we interpret the deviations in economic terms and illustrate the policies and their macroeconomic effects resulting from the change to the parameter under consideration for one of these cases.

Suggested Citation

  • Dmitri Blueschke & Viktoria Blueschke-Nikolaeva & Reinhard Neck, 2024. "Sensitivity analysis for a dynamic macroeconomic policy game in a monetary union," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 32(2), pages 507-520, June.
    • Handle: RePEc:spr:cejnor:v:32:y:2024:i:2:d:10.1007_s10100-024-00907-2
    DOI: 10.1007/s10100-024-00907-2
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10100-024-00907-2
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s10100-024-00907-2?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:cejnor:v:32:y:2024:i:2:d:10.1007_s10100-024-00907-2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.