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LSM: A DSGE model for Luxembourg

Szabolcs Deak (), Lionel Fontagné (), Marco Maffezzoli () and Massimiliano Marcellino

Economic Modelling, 2011, vol. 28, issue 6, 2862-2872

Abstract: Luxembourg is a small open economy with a set of particular features, including rather limited competition in the domestic goods market, strong union power, and a segmented labor market for resident and non-resident workers. In this paper we develop a medium scale DSGE model that captures these features, calibrate it to mimic the actual behavior of the key macroeconomic aggregates, and use it to conduct policy experiments aimed at relaxing some of the existing rigidities in the goods and labor market.

Keywords: DSGE; Luxembourg; Small open economy; Segmented labor market; Trade union (search for similar items in EconPapers)
JEL-codes: E13 E32 (search for similar items in EconPapers)
Date: 2011
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Related works:
Working Paper: LSM: A DSGE Model for Luxembourg (2011)
Working Paper: LSM: A DSGE Model for Luxembourg (2011)
Working Paper: LSM: A DSGE Model for Luxembourg (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:28:y:2011:i:6:p:2862-2872

DOI: 10.1016/j.econmod.2011.06.023

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