Macroeconomic policy in Europe: Experiments with monetary responses and fiscal impulses.
(2004)
Journal Article
Barrell, R., Becker, B., Byrne, J., Gottschalk, S., Hurst, I., & van Welsum, D. (2004). Macroeconomic policy in Europe: Experiments with monetary responses and fiscal impulses. Ecological Modelling, 21(5), 877-931. https://doi.org/10.1016/j.econmod.2003.10.005
In this paper we discuss the main model properties of NiGEM, the National Institute's large-scale macroeconometric model. NiGEM is a ‘New-Keynesian’ model where agents display forward-looking behaviour but there are nominal rigidities slowing adjustm... Read More about Macroeconomic policy in Europe: Experiments with monetary responses and fiscal impulses..