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LSM: A DSGE Model for Luxembourg

Listed author(s):
  • Szabolcs Deak
  • Lionel Fontagné

    ()

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, CEPII - Centre d'Etudes Prospectives et d'Informations Internationales - Centre d'analyse stratégique, PSE - Paris School of Economics)

  • Massimiliano Marcellino

    ()

    (Department of Economics - European University Institute)

  • Marco Maffezzoli

Luxembourg is a small open economy with a set of particular features, including rather limited competition in the domestic goods market, strong union power, and a segmented labour market for resident and non-resident workers. In this paper we develop a medium scale DSGE model that captures these features, calibrate it to mimic the actual behaviour of the key macroeconomic aggregates, and use it to conduct policy experiments aimed at relaxing some of the existing rigidities in the goods and labour market.

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Paper provided by HAL in its series Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) with number hal-00639888.

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Length:
Date of creation: Nov 2011
Publication status: Published in Economic Modelling, Elsevier, 2011, 28 (6), pp.2862-2872. 〈10.1016/j.econmod.2011.06.023〉
Handle: RePEc:hal:cesptp:hal-00639888
DOI: 10.1016/j.econmod.2011.06.023
Note: View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-00639888
Contact details of provider: Web page: https://hal.archives-ouvertes.fr/

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