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The EAGLE. A model for policy analysis of macroeconomic interdependence in the euro area

  • Sandra Gomes

    ()

    (Bank of Portugal)

  • Pascal Jacquinot

    ()

    (European Central Bank)

  • Massimiliano Pisani

    ()

    (Bank of Italy)

Building on the New Area Wide Model, we develop a 4-region macroeconomic model of the euro area and the world economy. The model (EAGLE, Euro Area and GLobal Economy model) is microfounded and designed for conducting quantitative policy analysis of macroeconomic interdependence across regions belonging to the euro area and between euro area regions and the world economy. Simulation analysis shows the transmission mechanism of region-specific or common shocks, originating in the euro area and abroad.

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File URL: http://www.bancaditalia.it/pubblicazioni/temi-discussione/2010/2010-0770/en_tema_770.pdf
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Paper provided by Bank of Italy, Economic Research and International Relations Area in its series Temi di discussione (Economic working papers) with number 770.

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Date of creation: Jul 2010
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Handle: RePEc:bdi:wptemi:td_770_10
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Web page: http://www.bancaditalia.it

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