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Policy Evaluation for the European Monetary Union Using a Global Macroeconomic Model

Haber, Gottfried; Neck, Reinhard; McKibbin, Warwick

Description

The European Monetary Union policy was evaluated using a global macroeconomic model. Results show that the optimal design of monetary and fiscal policies in Europe cannot be derived easily. The optimization experiments in this analysis have shown that the ranking of different institutional setups for European policy making in terms of total welfare is not stable with respect to different types of shocks and different geographical magnitudes of these shocks.

CollectionsANU Research Publications
Date published: 2001
Type: Journal article
URI: http://hdl.handle.net/1885/93168
Source: Nonlinear Analysis
DOI: 10.1016/S0362-546X(01)00288-7

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