Kolasa, Marcin (2008): Structural heterogeneity or asymmetric shocks? Poland and the euro area through the lens of a two-country DSGE model.
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Abstract
This paper presents a two-country model linking Poland and the euro area and applies it for assessment of heterogeneity across these two regions. Overall, our results can be seen as rather inconclusive about the differences in parameters describing agents' decision-making in Poland and in the euro area. On the contrary, we find strong evidence for heterogeneity in terms of volatility and synchronization of shocks hitting both economies. Our results may be viewed as a step towards estimating the costs of Poland's entry to the European Monetary Union, associated with giving up the monetary autonomy and losing benefits from stabilizing movements of the exchange rate.
Item Type: | MPRA Paper |
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Original Title: | Structural heterogeneity or asymmetric shocks? Poland and the euro area through the lens of a two-country DSGE model |
Language: | English |
Subjects: | E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E32 - Business Fluctuations ; Cycles D - Microeconomics > D5 - General Equilibrium and Disequilibrium > D58 - Computable and Other Applied General Equilibrium Models F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance > F41 - Open Economy Macroeconomics C - Mathematical and Quantitative Methods > C1 - Econometric and Statistical Methods and Methodology: General > C11 - Bayesian Analysis: General |
Item ID: | 10211 |
Depositing User: | Marcin Kolasa |
Date Deposited: | 28 Aug 2008 09:23 |
Last Modified: | 28 Sep 2019 16:50 |
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URI: | https://mpra.ub.uni-muenchen.de/id/eprint/10211 |
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Structural heterogeneity or asymmetric shocks? Poland and the euro area through the lens of a two-country DSGE model. (deposited 14 May 2008 13:08)
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