The EAGLE: A Model for Policy Analysis of Macroeconomic Interdependence in the Euro Area

99 Pages Posted: 20 Mar 2011

See all articles by Sandra Gomes

Sandra Gomes

Bank of Portugal

Pascal Jacquinot

European Central Bank (ECB)

Massimiliano Pisani

Bank of Italy

Multiple version iconThere are 2 versions of this paper

Date Written: July 15, 2010

Abstract

Building on the New Area Wide Model, we develop a 4-region macroeconomic model of the euro area and the world economy. The model (EAGLE, Euro Area and Global Economy model) is microfounded and designed for conducting quantitative policy analysis of macroeconomic interdependence across regions belonging to the euro area and between euro area regions and the world economy. Simulation analysis shows the transmission mechanism of region-specific or common shocks, originating in the euro area and abroad.

Keywords: Open-economy macroeconomics, DSGE models, econometric models, policy analysis

JEL Classification: C53, E32, E52, F47

Suggested Citation

Gomes, Sandra and Jacquinot, Pascal and Pisani, Massimiliano, The EAGLE: A Model for Policy Analysis of Macroeconomic Interdependence in the Euro Area (July 15, 2010). Bank of Italy Temi di Discussione (Working Paper) No. 770, Available at SSRN: https://ssrn.com/abstract=1786417 or http://dx.doi.org/10.2139/ssrn.1786417

Sandra Gomes

Bank of Portugal ( email )

Rua Francisco Ribeiro, 2
Lisbon, 1150-165
Portugal

Pascal Jacquinot

European Central Bank (ECB) ( email )

Sonnemannstrasse 22
Frankfurt am Main, 60314
Germany

Massimiliano Pisani (Contact Author)

Bank of Italy ( email )

Via Nazionale 91
Rome, 00184
Italy

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