dc.contributor.author | Albonico, Alice | |
dc.contributor.author | Paccagnini, Alessia | |
dc.contributor.author | Tirelli, Patrizio | |
dc.contributor.editor | Rohde, Nicholas | |
dc.contributor.editor | Naranpanawa, Athula | |
dc.date.accessioned | 2020-01-16T07:43:01Z | |
dc.date.available | 2020-01-16T07:43:01Z | |
dc.date.issued | 2017 | |
dc.identifier.issn | 1837-7750 | |
dc.identifier.other | RePEc:gri:epaper:economics:201710 | |
dc.identifier.uri | http://hdl.handle.net/10072/390477 | |
dc.description.abstract | We build up and estimate a two-region DSGE model of the Euro area, investigating the interactions between the peripheral countries (PIIGS) and the rest of EMU. Our main focus is on the 2008-2009 financial crisis and on the subsequent 2010-sovereign bond crisis. One striking result is that the two crises are characterized by demand shocks in the core Euro area countries, whereas region-specific permanent technology shocks explain most of output growth slowdown in the PIIGS countries. Our results suggest that the capital flows reversals caused important supply-side effects in the Eurozone periphery. | |
dc.format.extent | 55 pages | |
dc.language | English | |
dc.publisher | Griffith University | |
dc.publisher.place | Brisbane, Australia | |
dc.relation.ispartofpagefrom | 1 | |
dc.relation.ispartofpageto | 55 | |
dc.subject.keywords | E32 - Business Fluctuations; Cycles | |
dc.subject.keywords | E21 - Macroeconomics: Consumption; Saving; Wealth | |
dc.subject.keywords | C13 - Estimation: General | |
dc.subject.keywords | C32 - Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models | |
dc.subject.keywords | C11 - Bayesian Analysis: General | |
dc.subject.keywords | E37 - Prices, Business Fluctuations, and Cycles: Forecasting and Simulation: Models and Applications | |
dc.subject.keywords | PIIGS | |
dc.subject.keywords | Euro crisis | |
dc.subject.keywords | two-country DSGE | |
dc.subject.keywords | Bayesian estimation | |
dc.title | 2017-10: PIIGS in the Euro area: An empirical DSGE model (Working paper) | |
dc.type | Report | |
dc.type.description | Discussion Paper | |
gro.faculty | Griffith Business School | |
gro.description.notepublic | Economics and Business Statistics | |
gro.rights.copyright | Copyright © 2010 by author(s). No part of this paper may be reproduced in any form, or stored in a retrieval system, without prior permission of the author(s). | |
gro.date.issued | 2017 | |
gro.hasfulltext | Full Text | |
gro.griffith.author | Tirelli, Patrizio | |