THE ECONOMIC CONSEQUENCES OF EURO-AREA MACRO-MODELLING SHORTCUTS by Libero Monteforte

@inproceedings{Monteforte2003THEEC,
  title={THE ECONOMIC CONSEQUENCES OF EURO-AREA MACRO-MODELLING SHORTCUTS by Libero Monteforte},
  author={Libero Monteforte and Stefano Siviero},
  year={2003}
}
  • Libero Monteforte, Stefano Siviero
  • Published 2003
The available empirical evidence suggests that non-negligible differences in economic structures persist among euro area countries. Because of those differences, an area-wide (aggregate) modelling approach is in principle less reliable than a multi-country (disaggregate) one. This paper examines the aggregate/disaggregate modelling trade-off from both a statistical and an economic viewpoint, using two simple models (an aggregate one and a disaggregate one) for the three largest economies in the… CONTINUE READING

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