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- Title
ÉIRE Mod: A DSGE Model for Ireland.
- Authors
CLANCY, DARAGH; MEROLA, ROSSANA
- Abstract
We present &3201;IRE Mod, a quarterly DSGE model developed for macroeconomic policy analysis in Ireland. We simulate productivity and wage and price mark-up shocks to mimic the impact of various structural reforms aimed at improving the efficiency and competitiveness of the Irish economy. We find that all the structural reforms lead to an increase in aggregate output. However, depending on the source of the shocks, there are important differences in the transmission channels and the effect on employment and external competitiveness. This work is the first step towards the development of a suite of DSGE models for Ireland. Extensions of the core ÉIRE Mod detailed here will further enhance its analytic capabilities.
- Subjects
IRELAND; MACROECONOMICS; ECONOMIC competition; ECONOMIC policy; LABOR productivity; WAGES
- Publication
Economic & Social Review, 2016, Vol 47, Issue 1, p1
- ISSN
0012-9984
- Publication type
Article