The paper compares standardized simulation experiments of the Danish model ADAM and the UK Treasury model. There are both striking similarities and differences of which none seems to be related to the different scale of the two economies. Both models have significant crowding-out effects in a fixed exchange rate regime. The Treasury model differs from ADAM in especially three important respects: 1) A much stronger interest rate effect on consumption, 2) a much stronger tax effect on wages, and 3) a demand-pull inflation effect.
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Paper provided by University of Copenhagen. Department of Economics in its series Discussion Papers with number
91-21.
Length: 84 pages Date of creation: Dec 1991 Date of revision: Handle: RePEc:kud:kuiedp:9121
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