On the impact of the global financial crisis on the euro area

@inproceedings{He2013OnTI,
  title={On the impact of the global financial crisis on the euro area},
  author={Xiaoli He and Jan Jacobs and Gerard H. Kuper and Jenny E. Ligthart},
  year={2013}
}
This paper analyses the impact of the Global Financial Crisis on the Euro area utilizing a simple dynamic macroeconomic model with interaction between monetary policy and fiscal policy. The model consists of an IS curve, a Phillips curve, a term structure relation, a debt accumulation equation and a Taylor monetary policy rule supplemented with a Zero Lower Bound, and a fiscal policy rule. The model is alibrated/estimated for EU-16 countries for the period 1980Q1-2009Q4. The impact of the… CONTINUE READING

Figures and Tables from this paper.