Monetary policy in the Euro-Area: An analysis using a stylized new-Keynesian model
AbstractThis paper analyses monetary policy in the Euro-Area using a stylized new-Keynesian model. A number of issues are focused upon: (i) optimal monetary policy under commitment and discretion, (ii) a comparison of optimal monetary policies and ad-hoc monetary policies, (iii) the effects of fiscal policies and foreign variables on monetary policy in the model. Using numerical simulations, it is analyzed how these aspects affect monetary policy of the ECB in particular and macro economic fluctuations in the Euro-Area in general.
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Bibliographic InfoPaper provided by University of Antwerp, Faculty of Applied Economics in its series Working Papers with number 2005032.
Length: 32 pages
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Web page: https://www.uantwerp.be/en/faculties/applied-economic-sciences/
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EMU; Fiscal policy; Monetary policy;
Find related papers by JEL classification:
- F31 - International Economics - - International Finance - - - Foreign Exchange
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
- G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-02-26 (All new papers)
- NEP-CBA-2006-02-26 (Central Banking)
- NEP-EEC-2006-02-26 (European Economics)
- NEP-FMK-2006-02-26 (Financial Markets)
- NEP-MAC-2006-02-26 (Macroeconomics)
- NEP-MON-2006-02-26 (Monetary Economics)
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- Oliver Grimm & Stefan Ried, 2007.
"Macroeconomic Policy in a Heterogeneous Monetary Union,"
SFB 649 Discussion Papers, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany
SFB649DP2007-028, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
- Oliver Grimm & Stefan Ried, 2007. "Macroeconomic Policy in a Heterogeneous Monetary Union," CER-ETH Economics working paper series, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich 07/67, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
- Siok Kun, Sek, 2009. "The impacts of economic structures on the performance of simple policy rules in a small open economy," MPRA Paper 25065, University Library of Munich, Germany.
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