Barrell, R.; Becker, B.; Byrne, J.; Gottschalk, S.; Hurst, I.; van Welsum, D.

Macroeconomic policy in Europe: Experiments with monetary responses and fiscal impulses

Article

Barrell, R., Becker, B., Byrne, J., Gottschalk, S., Hurst, I. and van Welsum, D. 2004. Macroeconomic policy in Europe: Experiments with monetary responses and fiscal impulses. Economic Modelling. 21 (5), pp. 877-931. https://doi.org/10.1016/j.econmod.2003.10.005

Publication dates
Type	Article
Title	Macroeconomic policy in Europe: Experiments with monetary responses and fiscal impulses
Authors	Barrell, R., Becker, B., Byrne, J., Gottschalk, S., Hurst, I. and van Welsum, D.
Abstract	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 adjustment. In a number of policy simulations we find there are strong similarities across countries. Nevertheless, Euro Area responses to monetary and fiscal policy are greatest in Germany in NiGEM, whilst these responses are slower in comparison to the US due to greater wage-price inertia
Keywords	macroeconomic; modelling policy analysis; EMU
Publisher	Elsevier
Journal	Economic Modelling
ISSN	0264-9993
Electronic	1873-6122
Online	05 Feb 2004
Print	01 Sep 2004
Publication process dates
Deposited	15 Feb 2021
Accepted	01 Aug 2004
Output status	Published
Digital Object Identifier (DOI)	https://doi.org/10.1016/j.econmod.2003.10.005
Web of Science identifier	WOS:000223076200007
Language	English

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