Demand and supply shocks in the euro Area
(2005) European Economics and Finance, 4th annual conference — Location: Coïmbra, Portugal
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- Authors
- Abstract
- (en) This paper presents a simple demand and supply model in which governments try to stabilize their structural deficit in accordance with the requirement of the Stability and Growth Pact (SGP). This stylized model shows how the common monetary policy and the independent national fiscal authorities react in the event of demand or supply shocks. Next, the SVAR methodology developed by Blanchard and Quah is used to measure demand and supply shocks in countries making up the euro area and in neighboring countries which could become future euro zone member countries.
- Affiliations
Louvain School of Management Accounting & Finance
Citations
Gilson, N. (2005). Demand and supply shocks in the euro Area. European Economics and Finance, 4th annual conference, Coïmbra, Portugal. https://hdl.handle.net/2078.5/75168