Optimal exchange rate and fiscal policies for Slovenia on its way into the euro areaReinhard Neck
, Gottfried Haber
, Klaus Weyerstrass
, 2012, original scientific article
Abstract: This paper analyzes the design of macroeconomic policies for Slovenia on its way into the Euro Area. We simulate different policy scenarios, distinguishing in particular between different exchange rate regimes. For this purpose, we use the model slopol4, a macroeconometric model for Slovenia. We determine optimal exchange rate and fiscal policies for Slovenia as solutions of optimum control problems with a quadratic objective function and the model slopol4 as a constraint. Several optimization experiments are carried out under different assumptions under a fixed exchange rate, a flexible exchange rate and a crawling peg regime approximating Slovenias entry into the Euro Area. The sensitivity of the results is examined with respect to several assumptions.
Found in: ključnih besedah
Summary of found: ...makroekonomska politika, ekonometrični modeli, analiza senztitivnosti, Slovenija, ...
Keywords: makroekonomska politika, ekonometrični modeli, analiza senztitivnosti, Slovenija
Published: 15.10.2013; Views: 768; Downloads: 19
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