Working Paper 09-03 - The international transmission of shocks - Some selected simulations with the NIME model

Eric Meyermans

Working Papers from Federal Planning Bureau, Belgium

Abstract: The macro-econometric nime model is one of the analytical tools used by the Belgian Federal Planning Bureau to improve its understanding of developments in the Belgian international economic environment. This paper shows some concrete applications with this model by analysing the spill-over effects of shocks from the United States (us) to the euro area and the rest of the world. The shocks we investigate are a temporary increase in public expenditures in the us, a us-led world-wide permanent increase in total factor productivity, an increase in the risk premium in the us stock market, and a temporary 1 percentage point increase in the us short-term interest rate. Here, we will discuss how these shocks affect economic activity in the us and how they are transmitted to the euro area. Such an analysis can be useful because it catalogues answers to questions which are often posed by economists who want to assess their medium term projection of the euro area economy.

Keywords: Euro area exchange rate regime; Fiscal consolidation; Monetary easing; Technology shock (search for similar items in EconPapers)
JEL-codes: C5 E0 F4 (search for similar items in EconPapers)
Date: 2003-09-01
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Persistent link: https://EconPapers.repec.org/RePEc:fpb:wpaper:200309

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