Show simple item record

dc.contributor.authorAlbonico, Alice
dc.contributor.authorPaccagnini, Alessia
dc.contributor.authorTirelli, Patrizio
dc.contributor.editorRohde, Nicholas
dc.contributor.editorNaranpanawa, Athula
dc.date.accessioned2020-01-16T07:43:01Z
dc.date.available2020-01-16T07:43:01Z
dc.date.issued2017
dc.identifier.issn1837-7750
dc.identifier.otherRePEc:gri:epaper:economics:201710
dc.identifier.urihttp://hdl.handle.net/10072/390477
dc.description.abstractWe 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.extent55 pages
dc.languageEnglish
dc.publisherGriffith University
dc.publisher.placeBrisbane, Australia
dc.relation.ispartofpagefrom1
dc.relation.ispartofpageto55
dc.subject.keywordsE32 - Business Fluctuations; Cycles
dc.subject.keywordsE21 - Macroeconomics: Consumption; Saving; Wealth
dc.subject.keywordsC13 - Estimation: General
dc.subject.keywordsC32 - Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
dc.subject.keywordsC11 - Bayesian Analysis: General
dc.subject.keywordsE37 - Prices, Business Fluctuations, and Cycles: Forecasting and Simulation: Models and Applications
dc.subject.keywordsPIIGS
dc.subject.keywordsEuro crisis
dc.subject.keywordstwo-country DSGE
dc.subject.keywordsBayesian estimation
dc.title2017-10: PIIGS in the Euro area: An empirical DSGE model (Working paper)
dc.typeReport
dc.type.descriptionDiscussion Paper
gro.facultyGriffith Business School
gro.description.notepublicEconomics and Business Statistics
gro.rights.copyrightCopyright © 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.issued2017
gro.hasfulltextFull Text
gro.griffith.authorTirelli, Patrizio


Files in this item

This item appears in the following Collection(s)

  • Reports
    Contains reports by Griffith authors published for government agencies, industry and other organisations.

Show simple item record