EUROMON: De Nederlandsche Bank's multi-country model
Peter Van Els and
Marga Peeters ()
MPRA Paper from University Library of Munich, Germany
This paper presents a guide to the theoretical properties of EUROMON, the Nederlandsche Bank's multi-country model for implementing policy analysis. It is written with a view to explanding chapter 2 of the DNB Monetary Monograph 19, which provides for a model description. EUROMON is an aggregate neo-Keynesian model where output is described in the long-run by a vertical supply curve, but is strongly affected by demand factors in the short run. At the same time, the model incorporates a wage bargaining framework which makes the long-run equilibrium unemployment rate dependent on real factors (for example tax policies and terms on trade).
Keywords: econometric model building; EMU; policy analysis (search for similar items in EconPapers)
JEL-codes: E24 E2 (search for similar items in EconPapers)
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Working Paper: EUROMON: De Nederlandsche Bank's Multi-Country Model (2002)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:29634
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