QUEST III: An estimated open-economy DSGE model of the euro area with fiscal and monetary policy

2009 ◽  
Vol 26 (1) ◽  
pp. 222-233 ◽  
Author(s):  
Marco Ratto ◽  
Werner Roeger ◽  
Jan in 't Veld
Keyword(s):  
Monetary Policy ◽  
Euro Area ◽  
Open Economy ◽  
Dsge Model ◽  
Fiscal And Monetary Policy

scholarly journals Fiscal and monetary policy in new Keynesian DSGE models

2014 ◽  
Author(s):  
Πέτρος Βαρθαλίτης
Keyword(s):  
Monetary Policy ◽  
Fiscal Policy ◽  
Open Economy ◽  
Small Open Economy ◽  
New Keynesian ◽  
Dsge Models ◽  
Dsge Model ◽  
Keynesian Model ◽  
Monetary And Fiscal Policy ◽  
Fiscal And Monetary Policy

This thesis is about monetary and fiscal policy in New Keynesian DSGE models. Chapter 2 presents the baseline New Keynesian DSGE model. Monetary policy is in the form of a simple interest rate Taylor-type policy rule, while fiscal policy is exogenous. Chapter 3 extends the model of Chapter 2 to include fiscal policy. Now, both monetary and fiscal policy are allowed to follow feedback rules. Chapter 4 sets up a New Keynesian model of a semi-small open economy with sovereign risk premia. Finally, Chapter 5 builds a New Keynesian DSGE model consisting of two heterogeneous countries participating in a monetary union.Throughout most of the thesis, policy is conducted via "simple", "implementable" and "optimized" feedback policy rules. Using such rules, the aim of policy is twofold: firslty, it aims to stabilize the economy when the latter is hit by shocks; secondly, it aims to improve the economy's resource allocation.

An Open-Economy DSGE Model of the Euro Area

2006 ◽  
Author(s):  
Pascal Jacquinot ◽  
Ricardo Mestre ◽  
Martin Spitzer
Keyword(s):  
Euro Area ◽  
Open Economy ◽  
Dsge Model

scholarly journals Szoki polityki fiskalnej i monetarnej jako przedmiot badań makroekonomii gospodarki otwartej

2015 ◽  
pp. 93-116
Author(s):  
Agnieszka Domańska
Keyword(s):  
Monetary Policy ◽  
General Equilibrium ◽  
Open Economy ◽  
Research Method ◽  
Stochastic Dynamic ◽  
Monetary Policy Shocks ◽  
Modern Approach ◽  
Policy Shocks ◽  
The Subject ◽  
Fiscal And Monetary Policy

The aim of this study is to present selected aspects of fiscal and monetary policy shocks as the subject of studies of open economy macroeconomics. The study concentrates on the development of the model presentation (evolution of the research method) in description of fiscal and monetary policy shocks, with a focus on the modern quantitative approach. At present the modern approach to the research on fiscal and monetary policy shocks is based on advanced methods of data analyzing, such as autoregressive models (VAR), or stochastic dynamic general equilibrium models (DSGE)

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