Demertzis, Maria and Van Els, Peter and Peeters, H.M.M. (2002): EUROMON: De Nederlandsche Bank's multi-country model.
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This paper presents a guide to the theoretical properties of EUROMON, the Nederlandsche Bank's multi-country model for implementing policy analysis. It is written with a view to explanding chapter 2 of the DNB Monetary Monograph 19, which provides for a model description. EUROMON is an aggregate neo-Keynesian model where output is described in the long-run by a vertical supply curve, but is strongly affected by demand factors in the short run. At the same time, the model incorporates a wage bargaining framework which makes the long-run equilibrium unemployment rate dependent on real factors (for example tax policies and terms on trade).
|Item Type:||MPRA Paper|
|Original Title:||EUROMON: De Nederlandsche Bank's multi-country model|
|Keywords:||econometric model building; EMU; policy analysis;|
|Subjects:||E - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy > E24 - Employment ; Unemployment ; Wages ; Intergenerational Income Distribution ; Aggregate Human Capital ; Aggregate Labor Productivity
E - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy
|Depositing User:||Marga (H.M.M.) Peeters|
|Date Deposited:||21 Mar 2011 12:40|
|Last Modified:||30 Nov 2016 12:33|
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