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dc.contributor.authorRöhe, Okeen_US
dc.contributor.authorJerger, Jürgenen_US
dc.date.accessioned2010-08-11T09:02:02Z-
dc.date.available2010-08-11T09:02:02Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/37369-
dc.description.abstractIn this paper, we estimate a New Keynesian DSGE model developed by Ireland (2003) on French, German and Spanish data with the aim to explore the macroeconomic consequences of EMU. In order to validate the results from the DSGE model, we amend this analysis by stability tests of monetary policy reaction functions for these countries. We find that (a) the DSGE structure is well suited for the characterization of key macroeconomic features of the three economies; (b) significant efficiency gains were realized in terms of lower adjustment cost of prices and the capital stock; (c) the behavior of monetary policy did not change in Germany, unlike in France and Spain. Specifically, the impact of inflation on interest rates increased considerably in the two latter countries.en_US
dc.language.isoengen_US
dc.publisherVerein für Socialpolitik Frankfurt a. M.en_US
dc.relation.ispartofseriesBeiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Economic Policy in the EMU F16-V2en_US
dc.subject.jelE31en_US
dc.subject.jelE32en_US
dc.subject.jelE52en_US
dc.subject.ddc330en_US
dc.subject.keywordDSGEen_US
dc.subject.keywordMonetary Policyen_US
dc.subject.keywordEMUen_US
dc.titleThe Macroeconomic Consequences of EMU: International Evidence from a DSGE Modelen_US
dc.typeConference Paperen_US
dc.identifier.ppn655704256-
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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