The effects of fiscal targets in a monetary union: a multi-country agent-based stock flow consistent model
A Caiani, E Catullo, M Gallegati - Industrial and Corporate …, 2018 - academic.oup.com
Abstract We present an Agent Based-Stock Flow Consistent Multi-Country model of a
Monetary Union to analyze the impact of a change in the fiscal regime of member countries,
modeled as a permanent change in the deficit-to-gross domestic product (GDP) target that
governments are committed to comply. Simulations are performed under three scenarios,
differentiated by the number of countries considered (2, 6, 10). The parametric configuration
employed yields economically reasonable values for the dynamics and relative dimension of …
Monetary Union to analyze the impact of a change in the fiscal regime of member countries,
modeled as a permanent change in the deficit-to-gross domestic product (GDP) target that
governments are committed to comply. Simulations are performed under three scenarios,
differentiated by the number of countries considered (2, 6, 10). The parametric configuration
employed yields economically reasonable values for the dynamics and relative dimension of …
The effects of fiscal targets in a currency union: A multi-country agent based-stock flow consistent model
A Caiani, E Catullo, M Gallegati - Available at SSRN 2904953, 2017 - papers.ssrn.com
Abstract We present an Agent-Based Stock Flow Consistent Multi-Country model of a
Currency Union to analyze the impact of changes in the fiscal regime of member countries,
that is permanent changes in the deficit-to-GDP targets that governments commit to comply.
Simulations are performed under three scenarios differentiated for the number of member
countries. Though we did not try to estimate empirically the parameters of the model, the
configuration employed for our artificial Currency Union yields economically reasonable …
Currency Union to analyze the impact of changes in the fiscal regime of member countries,
that is permanent changes in the deficit-to-GDP targets that governments commit to comply.
Simulations are performed under three scenarios differentiated for the number of member
countries. Though we did not try to estimate empirically the parameters of the model, the
configuration employed for our artificial Currency Union yields economically reasonable …