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Title:Optimal exchange rate and fiscal policies for Slovenia on its way into the euro area
Authors:Neck, Reinhard (Author)
Haber, Gottfried (Author)
Weyerstrass, Klaus (Author)
Work type:Not categorized
Tipology:1.01 - Original Scientific Article
Organization:FM - Faculty of Management
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.
Keywords:makroekonomska politika, ekonometrični modeli, analiza senztitivnosti, Slovenija
Year of publishing:2012
Number of pages:str. 231-243
Numbering:Vol. 10, no. 3
COBISS_ID:4587223 Link is opened in a new window
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Keywords:macroeconomic policy, econometric models, optimal control, sensitivity analysis, Slovenia


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