dc.contributor.author | Monteforte, Libero | de |
dc.contributor.author | Siviero, Stefano | de |
dc.date.accessioned | 2011-04-01T04:54:00Z | de |
dc.date.accessioned | 2012-08-29T22:49:06Z | |
dc.date.available | 2012-08-29T22:49:06Z | |
dc.date.issued | 2008 | de |
dc.identifier.uri | http://www.ssoar.info/ssoar/handle/document/24245 | |
dc.description.abstract | Should euro-area economies be modelled in an aggregate (area-wide) fashion
or in a disaggregate (multi-country) one? This paper tackles that question
from both a statistical and an economic viewpoint. From a statistical
viewpoint, aggregation bias criteria are found to signal that the degree of
structural heterogeneity among euro-area economies is such that the loss
of information entailed by an aggregate modelling approach may be far
from trifling. From an economic viewpoint, we investigate the following
issue: Are those statistically detectable heterogeneities of any practical
relevance when it comes to supporting monetary policy decision-making?
To provide an answer to this question, we compute simple optimal monetary
policy reaction functions on the basis of either an aggregate model or
a disaggregate one, and compare the associated welfare losses. The results
suggest that the welfare under-performance of an area-wide-model-based
rule is not only non negligible, but also robust with respect to a number
of sensitivity analyses. | en |
dc.language | en | de |
dc.subject.ddc | Wirtschaft | de |
dc.subject.ddc | Economics | en |
dc.subject.ddc | Politikwissenschaft | de |
dc.subject.ddc | Political science | en |
dc.subject.other | Euro area; monetary policy rules; robustness | |
dc.subject.other | Regelgebundene Politik; Modell-Spezifikation; Mehr-Länder-Modell; Europäische Wirtschafts- und Währungsunion; EU-Staaten | |
dc.title | The economic consequences of Euro-area macro-modelling shortcuts | en |
dc.description.review | begutachtet (peer reviewed) | de |
dc.description.review | peer reviewed | en |
dc.source.journal | Applied Economics | de |
dc.source.volume | 42 | de |
dc.publisher.country | USA | |
dc.source.issue | 19 | de |
dc.subject.classoz | Economic Statistics, Econometrics, Business Informatics | en |
dc.subject.classoz | Economic Policy | en |
dc.subject.classoz | Wirtschaftsstatistik, Ökonometrie, Wirtschaftsinformatik | de |
dc.subject.classoz | Europapolitik | de |
dc.subject.classoz | European Politics | en |
dc.subject.classoz | Wirtschaftspolitik | de |
dc.subject.thesoz | Geldpolitik | de |
dc.subject.thesoz | aggregation | en |
dc.subject.thesoz | monetary policy | en |
dc.subject.thesoz | Aggregation | de |
dc.identifier.urn | urn:nbn:de:0168-ssoar-242456 | de |
dc.date.modified | 2011-04-04T13:51:00Z | de |
dc.rights.licence | PEER Licence Agreement (applicable only to documents from PEER project) | de |
dc.rights.licence | PEER Licence Agreement (applicable only to documents from PEER project) | en |
ssoar.gesis.collection | SOLIS;ADIS | de |
ssoar.contributor.institution | http://www.peerproject.eu/ | de |
internal.status | 3 | de |
internal.identifier.thesoz | 10034716 | |
internal.identifier.thesoz | 10041141 | |
dc.type.stock | article | de |
dc.type.document | journal article | en |
dc.type.document | Zeitschriftenartikel | de |
dc.rights.copyright | f | de |
dc.source.pageinfo | 2399-2415 | |
internal.identifier.classoz | 10905 | |
internal.identifier.classoz | 10506 | |
internal.identifier.classoz | 1090302 | |
internal.identifier.journal | 21 | de |
internal.identifier.document | 32 | |
internal.identifier.ddc | 320 | |
internal.identifier.ddc | 330 | |
dc.identifier.doi | https://doi.org/10.1080/00036840701858075 | de |
dc.description.pubstatus | Postprint | en |
dc.description.pubstatus | Postprint | de |
internal.identifier.licence | 7 | |
internal.identifier.pubstatus | 2 | |
internal.identifier.review | 1 | |
internal.check.abstractlanguageharmonizer | CERTAIN | |
internal.check.languageharmonizer | CERTAIN_RETAINED | |