How important are automatic stabilisers in Europe? A stochastic simulation assessment
In 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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"How important are automatic stabilisers in Europe? A stochastic simulation assessment,"
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