Autori
Barrell, Ray
Dury, Karen
Hurst, Ian

Titolo
Analysing monetary and fiscal policy regimes using deterministic and stichastic simulations
Periodico
European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papers
Anno: 1999 - Fascicolo: 37 - Pagina iniziale: 1 - Pagina finale: 31

We wish to analyse thè new rules in thè European fiscal and monetary environment. and to investigate thè effects of fiscal and monetary activism in Europe. The new European Central Bank has to decide on its monetary policy stance and we aim in this paper to contribute to thè debate on thè best overall policy rule for Euroland. We discuss thè types of rules that thè Bank may consider implementing and theii effectiveness in stabìlising individuai economies. We look al policy options under oui preferred rule, and we undertake stochastic simulations on thè National Institutes Global Econometrie Model, NiGEM, in order to evaluate different parameterisations of thè rules.



Testo completo: http://www.iue.it/ECO/WP-Texts/ECO99-37.pdf

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