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IGEM II: a New Variant of the Italian General Equilibrium Model

Listed author(s):
  • Barbara Annichiarico
  • Fabio Di Dio
  • Francesco Felici

This paper provides a full technical description of a variant of the Italian General Equilibrium Model (IGEM), a dynamic general equilibrium model used as a laboratory for policy analysis at the Department of the Italian Treasury. This version of IGEM presents four specific key features: (i) imperfectly competitive final good sector; (ii) involuntary unemployment; (iii) a business tax bearing on firms; (iv) market frictions in the labor market of atypical workers. The paper presents some simulation scenarios of structural and fiscal reforms.

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File URL: http://www.dt.mef.gov.it/modules/documenti_it/analisi_progammazione/working_papers/WP_Nx_4_-_Ottobre_2016.pdf
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Paper provided by Department of the Treasury, Ministry of the Economy and of Finance in its series Working Papers with number 4.

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Length: 53
Date of creation: Oct 2016
Handle: RePEc:itt:wpaper:2016-4
Contact details of provider: Web page: http://www.dt.tesoro.it
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  8. Leeper, Eric M., 1991. "Equilibria under 'active' and 'passive' monetary and fiscal policies," Journal of Monetary Economics, Elsevier, vol. 27(1), pages 129-147, February.
  9. Silvia Duranti, 2009. "Atypical Contracts and Labour Demand: Evidence from Firm-Level Italian Data," Rivista di Politica Economica, SIPI Spa, vol. 99(4), pages 117-151, OCTOBER-D.
  10. Barro, Robert J, 1990. "Government Spending in a Simple Model of Endogenous Growth," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 103-126, October.
  11. Tito Boeri & Pietro Garibaldi, 2007. "Two Tier Reforms of Employment Protection: a Honeymoon Effect?," Economic Journal, Royal Economic Society, vol. 117(521), pages 357-385, 06.
  12. Janos Varga & Werner Roeger & Jan in’t Veld, 2014. "Growth effects of structural reforms in Southern Europe: the case of Greece, Italy, Spain and Portugal," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 41(2), pages 323-363, May.
  13. Federico Lucidi & Alfred Kleinknecht, 2010. "Little innovation, many jobs: An econometric analysis of the Italian labour productivity crisis," Cambridge Journal of Economics, Oxford University Press, vol. 34(3), pages 525-546.
  14. Ratto, Marco & Roeger, Werner & Veld, Jan in 't, 2009. "QUEST III: An estimated open-economy DSGE model of the euro area with fiscal and monetary policy," Economic Modelling, Elsevier, vol. 26(1), pages 222-233, January.
  15. Lusine Lusinyan & Dirk V Muir, 2013. "Assessing the Macroeconomic Impact of Structural Reforms The Case of Italy," IMF Working Papers 13/22, International Monetary Fund.
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