The EAGLE. A model for policy analysis of macroeconomic interdependence in the euro area

Sandra Gomes, Pascal Jacquinot and Massimiliano Pisani

Economic Modelling, 2012, vol. 29, issue 5, 1686-1714

Abstract: We develop a 4-region macroeconomic model of the euro area and the world economy. The model (EAGLE, Euro Area and Global Economy model) is microfounded and designed for conducting quantitative policy analysis of macroeconomic interdependence across regions in the euro area and between the euro area and the world economy. Specifically, we simulate a permanent reduction in labor tax rates in the euro area. The effects on real activity are expansionary in both the short run and long run. Implementing reforms simultaneously across regions would produce extra benefits and make the macroeconomic performance in the euro area more even.

Keywords: Open-economy macroeconomics; DSGE models; Econometric models; Policy analysis (search for similar items in EconPapers)
JEL-codes: C53 E32 E52 F47 (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (167)

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Related works:
Working Paper: The EAGLE. A model for policy analysis of macroeconomic interdependence in the euro area (2010)
Working Paper: The EAGLE. A model for policy analysis of macroeconomic interdependence in the euro area (2010)
Working Paper: The EAGLE. A model for policy analysis of macroeconomic interdependence in the euro area (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:29:y:2012:i:5:p:1686-1714

DOI: 10.1016/j.econmod.2012.04.002

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