How Important are Automatic Stabilizers 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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|Date of creation:||2000|
|Date of revision:|
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