Structural heterogeneity or asymmetric shocks? Poland and the euro area through the lens of a two-country DSGE model

Marcin Kolasa

MPRA Paper from University Library of Munich, Germany

Abstract: This paper presents a two-country model linking Poland and the euro area and applies it for assessment of heterogeneity across these two regions. Overall, our results can be seen as rather inconclusive about the differences in parameters describing agents' decision-making in Poland and in the euro area. On the contrary, we find strong evidence for heterogeneity in terms of volatility and synchronization of shocks hitting both economies. Our results may be viewed as a step towards estimating the costs of Poland's entry to the European Monetary Union, associated with giving up the monetary autonomy and losing benefits from stabilizing movements of the exchange rate.

JEL-codes: C11 D58 E32 F41 (search for similar items in EconPapers)
Date: 2008-05
New Economics Papers: this item is included in nep-eec, nep-mac, nep-mon, nep-opm and nep-tra
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (19)

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https://mpra.ub.uni-muenchen.de/8750/1/MPRA_paper_8750.pdf original version (application/pdf)
https://mpra.ub.uni-muenchen.de/10211/4/MPRA_paper_10211.pdf revised version (application/pdf)
https://mpra.ub.uni-muenchen.de/11476/1/MPRA_paper_11476.pdf revised version (application/pdf)

Related works:
Journal Article: Structural heterogeneity or asymmetric shocks? Poland and the euro area through the lens of a two-country DSGE model (2009)
Working Paper: Structural heterogeneity or asymmetric shocks? Poland and the euro area through the lens of a two-country DSGE model (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:8750

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