Analyzing macroeconomic imbalances in the EU

Tomáš Domonkos, Filip Ostrihoň, Ivana Šikulová and Mária Širaňová

No 9660, EcoMod2016 from EcoMod

Abstract: This research aims to evaluate the efficiency of the currently applied MIP Scoreboard’s indicators. The question we want to answer is that: If this procedure had been applied before the crisis, would it have been able to effectively and on time identify potential macroeconomic imbalances in the EU countries? In order to answer this question, we examine the behavior of the MIP Scoreboard’s indicators in terms of the business cycle. The analysis relies mostly on binary response models and on signaling approach. The data used cover the time period from 2004 till 2014. The results of this study aim to improve the MIP procedure and identify useful amendments to the set of indicators used in the crisis-identification procedure. This would result in better and more target-oriented policies and help avoid adverse macroeconomic development across European countries.

Keywords: EU; Macroeconometric modeling; Impact and scenario analysis (search for similar items in EconPapers)
Date: 2016-07-04
New Economics Papers: this item is included in nep-mac
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ekd:009007:9660

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