A Microfounded Sectoral Model for Open Economies

J.E.J. Plasmans, J. Fornero, T. Michalak

Research output: Working paperDiscussion paperOther research output

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Abstract

Numerical simulations of the two-country sectoral model are provided for a relatively large number of structural shocks as domestic and foreign productivity shocks in final tradables and non-tradables, money demand shocks and a shock in the exchange rate. Such a model is well suited for monetary policy analysis at the international level and risk analysis.
Original languageEnglish
Place of PublicationTilburg
PublisherMacroeconomics
Number of pages61
Volume2007-39
Publication statusPublished - 2007

Publication series

NameCentER Discussion Paper
Volume2007-39

Fingerprint

Open economy
Nontradables
Demand shocks
Money demand
Structural shocks
Policy analysis
Risk analysis
Productivity shocks
Monetary policy
Numerical simulation
Exchange rates

Keywords

  • New Keynesian open economy model
  • tradable and non-tradable sectors
  • final and intermediate goods
  • log-linearization

Cite this

Plasmans, J. E. J., Fornero, J., & Michalak, T. (2007). A Microfounded Sectoral Model for Open Economies. (CentER Discussion Paper; Vol. 2007-39). Tilburg: Macroeconomics.
Plasmans, J.E.J. ; Fornero, J. ; Michalak, T. / A Microfounded Sectoral Model for Open Economies. Tilburg : Macroeconomics, 2007. (CentER Discussion Paper).
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Plasmans, JEJ, Fornero, J & Michalak, T 2007 'A Microfounded Sectoral Model for Open Economies' CentER Discussion Paper, vol. 2007-39, Macroeconomics, Tilburg.

A Microfounded Sectoral Model for Open Economies. / Plasmans, J.E.J.; Fornero, J.; Michalak, T.

Tilburg : Macroeconomics, 2007. (CentER Discussion Paper; Vol. 2007-39).

Research output: Working paperDiscussion paperOther research output

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N1 - Pagination: 61

PY - 2007

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AB - Numerical simulations of the two-country sectoral model are provided for a relatively large number of structural shocks as domestic and foreign productivity shocks in final tradables and non-tradables, money demand shocks and a shock in the exchange rate. Such a model is well suited for monetary policy analysis at the international level and risk analysis.

KW - New Keynesian open economy model

KW - tradable and non-tradable sectors

KW - final and intermediate goods

KW - log-linearization

M3 - Discussion paper

VL - 2007-39

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BT - A Microfounded Sectoral Model for Open Economies

PB - Macroeconomics

CY - Tilburg

ER -

Plasmans JEJ, Fornero J, Michalak T. A Microfounded Sectoral Model for Open Economies. Tilburg: Macroeconomics. 2007. (CentER Discussion Paper).